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From: B-Haile (eritrea.lave@comhem.se)
Date: Thu Nov 11 2010 - 15:53:28 EST
Chalice Gold Mines Limited
ENCOURAGING RESULTS OBTAINED FROM IP SURVEY AT KOKA
NEW IP ANOMALY IDENTIFIED BELOW THE 840,000oz KOKA DEPOSIT
11 November 2010
Highlights:
. New "Koka-like" signatures already identified by a recently commenced deep penetration 3D IP survey over the Koka-Konate corridor
. Significant IP resistivity target identified below the 840,000oz Koka Deposit providing a priority drilling opportunity for early 2011
. Strong IP resistivity target identified below the Koka East prospect
. Strong IP chargeability anomalies identified west of Koka Deposit
Chalice Gold Mines (ASX: CHN) is pleased to report that encouraging early results have been received from a recently commenced IP survey over its flagship 840,000oz Koka Gold Deposit.
The state-of-the-art 3D deep-penetration Induced Polarisation (IP) survey covers an area of 15km2 within the highly prospective 6km long Koka-Konate corridor (see Figure 1).
The survey, which is designed to reveal new targets with the potential to host repeats of the Koka mineralisation, has already yielded some attractive targets, including resistivity anomalies below the currently defined Koka deposit and a second in an undrilled area under the Koka East trend. Resistivity anomalies are often associated with silicification that is associated with gold mineralisation.
In addition, the survey identified a large area of chargeability anomalies west of the Koka deposit that, while currently unexplained, could represent sulphide mineralisation.
Read more http://chalicegold.com/upload/documents/InvestorRelations/releases/20101111KokaIPFINAL.pdf
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