JOHANNESBURG (miningweekly.com) – ASX- and TSX-listed Chalice Gold Mines has set its sights on prospective ground in the northern Bendigo gold field, in north-western Victoria, where it has submitted applications for two exploration licences covering 1 300 km2.
The Bendigo Zone, north of the 18-million-ounce Bendigo gold field, has a potential of 32-million ounces in undiscovered gold endowment, Chalice said on Monday, citing the Victoria government’s ‘gold undercover’ initiative.
The new Pyramid Hill gold project is based on the two exploration licence applications, which were submitted in December. The applications have recently been advertised and are now progressing through the final assessment process towards a decision to grant later this year.
Chalice said it would start field work once the tenements were granted, and was currently reviewing previous exploration results and planning field activities.
The new Pyramid Hill Gold Project is consistent with Chalice’s focus on exploring tier-one gold districts such as its two high-potential projects in the Abitibi region in Canada, where it has a 30 000 m drilling programme under way. The Company will also draw on its extensive experience in exploring under cover to its planned exploration programmes in northern Victoria.