Chalice Gold Mines - March 2015 Quarterly Report and Cashflows

15.04.2015  |  CNW

PERTH, Western Australia, April 15, 2015 /CNW/ - Chalice Gold Mines ("The Company") ASX:CHN TSX:CXN advises that its Activity and Cash Flow Reports for the quarter ended March 31, 2015 have been issued today. The full texts of these reports are available at the Company's website www.chalicegold.com and under the Company's profile at www.sedar.com.


Quarterly Highlights

• Preparation of a Preliminary Economic Assessment (PEA) continues for the Cameron Gold Project in Ontario, Canada with encouraging initial results demonstrating potential reductions in capital and operating costs.


• The PEA has been expanded to allow for cutting and assaying of previously un-sampled historical drill core. The PEA is now expected to be completed in Q3 2015 following completion of a revised Mineral Resource.


• Business development and exploration activities continued.


• 2015 field season to commence in May 2015 at Cameron aimed at increasing near-mine ounces and enhancing project economics: 10 priority near-mine exploration targets defined.


• The Company's exposure to the US$ has resulted in a year-to-date $4.8M foreign exchange gain.


• Chalice's balance sheet remains strong with cash of A$41M at 31 March 2015.