Staggering results from Fosterville - great news for Bendigo gold region, page-10

From E-Mail

End of year update and season’s greetings from the Chalice




It has been an eventful year for Chalice, in which we made a number of bold strategic moves; becoming a dominant holder in the undercover Bendigo Zone of Victoria, executing a successful, large-scale drilling campaign in Quebec and returning excess capital (4cps) to Shareholders.

Collectively this has positioned the new year to be a pivotal one for the Company and Shareholders, and we would like to take this opportunity to thank you all for your continued support.

Initial exploration earlier this year at our Pyramid Hill Gold Project defined multiple large-scale drill targets in what is now firmly one of the world's most sought after gold districts, the Bendigo region of Victoria. Outstanding high-grade gold intercepts announced recently by our neighbours at Kirkland Lake’s Fosterville mine have once again highlighted the immense potential of the region.

The Company's maiden 8,500m reconnaissance drill program kicked off recently within the Muckleford area, and we are truly excited about the journey ahead. Interestingly, Chalice has now drilled more holes successfully into the target Ordovician basement, than all other historic explorers combined over the entire area!

This year also saw the expansion and continued exploration success at our East Cadillac Gold Project in the world-class Abitibi greenstone belt in Canada. Chalice defined several very large, coherent and entirely untested gold-in-soil anomalies on 100% owned tenure.

The Legrand Target has some encouraging early similarities to Canadian Malartic, a large gold mine owned by Agnico Eagle and Yamana; located along strike to our west. This world-class gold mine has more than 16Moz of gold endowment and produces over 600,000oz per annum.

The Legrand and Anderson Targets are by far the largest and most attractive found to date at the Project, and we look forward to commencing our high impact winter drill program in mid-January 2019.

2019 Outlook

This momentum on the exploration front has been positive for the Company and points towards continued success in 2019. Chalice remains in a strong financial position following the recent capital return to Shareholders, with ~A$$27M in current assets (as of 30-Nov-18). This advantageous position allows us to continue targeted exploration activities at scale across our two key projects.

We look forward to bringing you more positive developments and exciting results in 2019, and wish all of our Shareholders a happy Christmas and a safe and prosperous new year.

Best Regards

Alex Dorsch