Well quite a lot to chew over but Chalice is not just doing the...

Well quite a lot to chew over but Chalice is not just doing the deal with Coventry resources for the future mine but the exploration potential as well.

It does raise the question though of whether Chalice is going to stay active in Eritrea when they are doing deals in promising projects in countries that are low risk, that will need some money at some point even though the deals so far have had an eye to maintaining a good cash position.

Probably not a lot of shareholders would cry too much if they pulled out of Eritrea entirely especially if they are really doing in depth homework on very promising areas they can pick up cheaply elsewhere (as it looks to me they are doing).

http://www.proactiveinvestors.com.au/companies/news/48579/chalice-gold-mines-to-takeover-coventry-resources-48579.html
http://www.miningweekly.com/article/australias-chalice-merges-with-canadian-gold-developer-2013-09-30

http://www.coventryres.com/s/NewsReleases.asp?numCols=1&page=0
http://www.coventryres.com/s/Home.asp

Extracts

The structural controls to the Dubenski Gold Deposit are not well-known due to the lack of detailed, high-resolution airborne magnetic data that is used to map shear and fault zones associated with the gold mineralization. Using the available data, it is interpreted that the Dubenski Gold Deposit is hosted by the Flint Lake Shear Zone, a zone of highly-foliated and variably-sheared rocks traceable for about 2 km. The Flint Lake Shear Zone trends about 080° - 260° and appears to be a splay from the Cameron-Pipestone Fault, similar to the Cameron Lake Shear Zone.

The bulk of the mineralization comprising the Cameron and Dubenski Gold Deposits can be regarded as being part of the atypical greenstone family, with a lesser, but potentially-highly significant orogenic vein style that is newly-recognised and possibly overprinting at the Cameron Gold Deposit.

EXPLORATION POTENTIAL

Significant potential exists within the Cameron Gold Camp Project for the discovery of additional mineral resources to supplement those currently identified. The primary focus of exploration in 2013 will be the delineation of shallow, high-grade resources proximal to the Cameron Gold Deposit.

http://www.stockhouse.com/companies/bullboard/v.cyy/v-cyy
http://www.stockhouse.com/companies/bullboard/v.byv/bayfield-ventures-corp?postid=21775388
http://www.stockhouse.com/companies/bullboard/v.kbg/king-s-bay-gold-corp?postid=21759539
http://www.stockhouse.com/companies/bullboard/v.cyy/coventry-resources-inc?postid=21747755
http://www.stockhouse.com/companies/bullboard/v.rr/rainy-river-resources-ltd?postid=21731757