Yilgarn Gold Project

The Opportunity

The Yilgarn Gold Project consists of the Kurrajong Bore, Bunjarra Well and Gibb Rock areas and is located over prospective greenstone belt sequences in the Eastern Goldfields and Southern Cross Goldfields.

Gibb Rock

The Gibb Rock Project comprises a single Exploration Licence (55km2) located over the Holleton greenstone belt.

Chalice completed a detailed program of auger drilling and soil sampling over the Gibb Rock tenement, which hosts a greenstone belt succession comprised of Banded Iron Formation, mafic volcanics/schists bounded by granite-gneiss of the Southern Cross terrane.

Kurrajong Bore

The Kurrajong Bore Project is located ~5km east of the Mertondale gold deposits, owned by Kin Mining (ASX: KIN), which are hosted by a steeply-dipping regional shear zone preferentially developed along the contact between felsic and mafic volcanic sequences. Drilling will be undertaken to test magnetic anomalies (interpreted gabbro intrusives) and enclosing felsic and mafic volcanic sequences (Figure 10).

A Program of Work has been approved for a program of aircore drilling at Kurrajong Bore (Mertondale east) and Bunjarra Well prospects.

Figure 1. Kurrajong Bore proposed aircore drilling overlying a 1VD aeromagnetic image.

Bunjarra Well

Bunjarra Well is located ~56km south-east of the Cardinia gold deposit, owned by Kin Mining (ASX: KIN), and two traverses of aircore drilling have been designed to test for strike extensions to two drill-holes which intersected anomalous gold (up to 1g/t Au). The drilling is expected to commence immediately after the Kurrajong Bore program.

For the latest information please refer to our ASX Announcements.

Acquisition Terms

The Yilgarn Gold Project is 100% owned by the Company.