Chalice Gold Mines Releases Activity, Cash Flow Results

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Chalice Gold Mines (CXN.TO) today released its Activity and Cash Flow Reports for the quarter ended December 31, 2012.

Quarterly Highlights

-Massive sulphide discovery at Mogoraib River prospect, within 6km strike of prospective VMS trend, suggesting the potential for a significant VMS system similar to the nearby world-class Bisha Mine.

-Down-hole EM at Mogoraib River suggests that drilling to date has only intersected the up-dip portion of a very strong conductor that lies below and to the north of existing drilling.

-Ground and down-hole EM underway to outline the extent of mineralisation and to assist in vectoring in on higher grade zones.

-Drilling at Mogoraib River set to commence in late February 2013.

-Chalice returns $25M to shareholders following the sale of the Zara Project to China SFECO Group.

-Experienced mining executive Mr Bill Bent appointed as Managing Director to lead the Company through its next phase of growth, commencing February 2013.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Commodities

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