Pyramid Hill Gold Project
The 100%-owned Pyramid Hill Gold Project is a district scale holding comprising an extensive 4,500km2 area located in the Central Goldfields region of Victoria, Australia; one of the most exciting, underexplored high-grade gold provinces worldwide
The Project comprises three key districts within the North Bendigo and North Stawell Zones: the Muckleford, Mt William and Percydale areas.
The central Muckleford Area extends to the north-west of the world-class >22Moz @ 15g/t Au Bendigo Goldfield. The Mt William Area extends to the north-east of one of the world’s highest-grade gold mines, the >7Moz c. 30g/t Au head grade Fosterville Gold Mine owned by Kirkland Lake Gold (NYSE / TSX: KL | ASX: KLA). The Percydale Area is located north-west of the the historical St Arnaud Goldfield.
The ‘Gold Undercover1’ initiative by the Victorian Government estimated a potential ~32Moz (P50) of undiscovered gold beneath Murray Basin cover in the Bendigo Zone, where Chalice holds ~60% of the total prospective ~7,000km2 area.
Figure 1. Pyramid Hill Project tenement holdings and regional gold occurances.
Chalice is now a dominant player in the Bendigo Zone of Victoria – a domain that has historically produced >60Moz of high-grade gold. The region is now capturing global attention once again, largely thanks to Kirkland Lake Gold’s Fosterville turnaround story.
Historically, all high-grade gold discoveries in the region have come from outcropping (easy to find) areas such as Bendigo (~22Moz @ 15g/t Au); Ballarat (~14Moz @ 12g/t Au) and Castlemaine (~6Moz @ 13g/t Au). New under cover exploration has confirmed the Bendigo Zone geology extends to the north, however it remains poorly explored presenting a significant opportunity for large-scale, high-grade gold deposits.
Figure 2. The Bendigo Zone host geology extends to the north however it goes under cover and is poorly explored (dark green areas).
A maiden 15,000m reconnaissance drill programme commenced in November 2018 at the Muckleford Area, testing three large-scale target areasNW of Bendigo – the West, South and East Targets.
Figure 2. Planned Aircore / RC drill collars and gold-in-soil anomaly contours over 1VD gravity.
Chalice has designed a systematic and comprehensive program, with wide spaced (3km+) reconnaissance drill lines underway utilising a new, cost effective multi-purpose AC/RC drill rig.
Encouraging early anomalous gold and pathfinder results received to date include:
- South Target: Anomalous gold-in-quartz intersected ~3km to the north along strike from anomalous gold values in historical drill holes, indicating a possible strike-extensive gold zone associated with the Muckleford Fault; and,
- West Target: 15-30m wide zones of anomalous arsenic intersected within four contiguous, 100m spaced holes, indicating a possible halo to proximal gold mineralisation.
The Pyramid Hill Gold Project was staked in late 2017 and is 100% owned.