Ann: Chalice identifies gold-in-soil anomalies at Pyramid Hill, page-5

Given CYL’s latest results this project is looking more interesting by the day.

I’m not sure how effective the BLEG sampling is considering CYL are mapping about 50m of Murray river sediments over the basement rock. Does anyone know if CYL have had success with BLEG?

The gravity survey should help as CYL are claiming the gold channels can be seen on derivatives of the Bouger gravity. As long as the uncomformity between the basement and the bedrock is relatively flat the gravity should be pretty reliable in mapping the variation in the basement densities.

The CYL ground looks to be on the the main northern trend from Bendigo in the Whitelaw Fault corridor and they are proving the concept very successfully.

But if you look at the attitude of the Bendigo gold occurrences they seem to be more parallel to the direction of the the Sebastian Fault which runs into CHN’s ground. There is nothing saying another undiscovered Bendigo couldn’t exist on this parcel of land that I know of.

I haven’t calculated the market cap of CYL but with the recent placement to SBM I think it’s around $93 million.

Remember CHN is trading with an EV close to zero or it could even be negative at the moment (I’d need to check).

One drill intersection hitting gold on CHN’s Bendigo ground and the spot light would very quickly hit this prospect. It’s nothing until it’s something in this game.

Definitely a project to keep on the watch list. Esh