Golden Chalice Resources Inc.

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Kidd West Property

Location: 35 km northwest of Timmins Ontario
Size: 2,318 ha (144 units, 14 claims)
Target Minerals: Copper, Zinc


Highlights
  • Kidd Creek massive sulphide deposit host rocks possibly extend on to property.

  • Six or more VTEM conductor areas within interpreted felsic to intermediate volcanics show promise for a volcangenic massive sulphide (VMS) deposit.
Regional Exploration and Production:

The property is well situated in the Timmins mining Camp within the Kamiskotia base metal area. There has been a thriving mining industry in the Timmins region for almost 100 years (gold, base metals, nickel) and there are all of the mining support services and supplies, along with a skilled workforce, that would be required for any new mining venture.

Other Local Exploration

In the past there has been a significant amount of mining in the Kamiskotia area. Historically the Kam-Kotia produced 6.6 million tonnes of 1.1% Cu 1.2% Zn and 3 g/t Au from 1961 to 1972, the Jameland Mine produced 740,000 tonnes of 2.4 % Cu and 4.2% Zn from 1966 to 1971 and the Genex Mines have produced 109,000 tonnes of 2.2% Cu. The Kam Kotia Mine is 10 km southwest of the property.

15 km due west from Xstrata's huge Kidd Creek volcanogenic massive sulphide copper-zinc deposit (135.6 million tonnes of ore milled grading 2.31% Cu, 6.18% Zn, 0.22% Pb and 87.3 grams per tonne (g/t) silver).

Property Geology

The Property is heavily covered in overburden. Ontario government compilation maps suggest that it is underlain by a large sequence of felsic to intermediate volcanics occurring west of the Mattagami River Fault which cuts north-south through the property. Mafic volcanics occur north, south and east of the felsic to intermediate volcanics. The Kidd Creek Massive sulphide deposit is situated 15 km to the east and within the southern margin of this felsic to intermediate volcanic sequence. Airborne magnetic data indicates the property's volcanics are cut by north-northwest trending diabase dykes.

Work Completed to Date

Golden Chalices Resources had a VTEM airborne survey completed over the Property in 2007. The survey outlined six or more VTEM conductor areas which show promise for volcangenic massive sulphide (VMS) exploration.