Golden Chalice Commences Environmental Baseline Study on Langmuir Deposit
21 September 2010 - 11:00PM
Marketwired
Golden Chalice Resources Inc. (TSX VENTURE: GCR) ("The Company") is
pleased to announce it has commenced a preliminary environmental
baseline study on its 100% owned Langmuir Nickel project, located
35 km southeast of Timmins, Ontario. The project contains a high
grade nickel deposit amenable to open pit mining methods. The W4
Langmuir deposit contains an indicated resource of 677,000 tons
grading 1% (14,813,000 pounds of nickel) and inferred resource of
171,000 tons grading 0.89% (3,360,000 pounds of nickel), see May
19, 2010 news release.
"The environmental baseline study is the next step in the
development of the Langmuir deposit. As we move forward with the
study, the Company will continue to explore all the options,
including joint venture possibilities, in order to fast track the
W4 deposit towards production," comments Company President, Steve
de Jong. "The Company's new management continues to do everything
it can, including the recently announced share consolidation, to
best position Golden Chalice to capitalize on the many
opportunities provided by the exceptional assets in its project
portfolio. Given the strong price of both nickel and iron-ore, we
expect the Company to be extremely busy in the upcoming exploration
season as it continues to advance its key projects."
The Company has commissioned Blue Heron - Solutions for
Environmental Management Inc. of Timmins Ontario to complete a
preliminary environmental baseline study in the area of the W4
Langmuir nickel deposit. This initial environmental study is
expected to be completed by mid-December.
Kevin Montgomery, P.Geo., is the Company's qualified person for
the purposes of National Instrument 43-101 for the Company's
Langmuir project. Mr. Montgomery has reviewed and approved the
technical contents of the press release.
ABOUT GOLDEN CHALICE
On May 19, 2010, the Company announced it had completed a NI
43-101 resource estimate for its flagship Langmuir Nickel Project
where 2007 drilling intersected 72 meters of 1.14% nickel. The
Langmuir Project is easily accessible by road and is near existing
mining infrastructure in the Timmins camp, host to numerous
world-class gold and base metal deposits. The Company owns 100% of
the property which covers more than 30 km of favorable stratigraphy
with potential for hosting Kambalda-style deposits.
This document contains certain forward looking statements which
involve known and unknown risks, delays and uncertainties not under
the corporation's control which may cause actual results,
performance or achievements of the corporation to be materially
different from the results, performance or expectation implied by
these forward looking statements.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news
release.
Contacts: Golden Chalice Resources Inc. Steve de Jong or Stephen
Pearce (604) 629-1808 (604) 685-7625 (FAX)
info@goldenchaliceresources.com www.goldenchaliceresources.com
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