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From: B-Haile (eritrea.lave@comhem.se)
Date: Thu Sep 02 2010 - 04:37:20 EDT
Chalice could start building Eritrea gold mine by year-end
By: Esmarie Swanepoel
2nd September 2010
Updated 45 minutes ago
TEXT SIZE PERTH (miningweekly.com) - Eritrea-focused Chalice Gold could start construction at its Koka openpit mine by the end of the year, depending on the duration of the permitting process, it said Thursday.
The permitting process was under way, and was expected to go "fairly smoothly", MD Dough Jones said at a conference.
The Koka deposit forms part of Chalice's flagship Zara deposit, and hosts an ore reserve of 760 000 oz gold.
Speaking at the second day of the Africa Downunder conference, in Perth, Jones said that the company was undertaking an "aggressive" exploration programme and was "desperate" to extend its resource to above one-million ounces.
"We have a very extensive ground position and a lot of highly prospective geology," he noted.
Jones noted that a recent feasibility study into the Koka deposit has found that the project would have "very strong" economics and would offer low prospecting risks.
Edited by: Mariaan Webb
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