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From: Berhane Habtemariam (Berhane.Habtemariam@gmx.de)
Date: Thu Oct 07 2010 - 13:39:49 EDT
<http://3smedia.advertserve.com/servlet/click/zone?zid=15&custom1=6&custom2=
15&pid=0&lookup=true&position=1> Click Here!
<http://chalicegold.com/upload/documents/InvestorRelations/releases/20101006
ASXAnnouncement-SEIA.pdf> Koka closer to production with completion of
Social and Environmental Impact Reports
Published Date: October 07, 2010
Chalice Gold Mines Limited is pleased to advise that it has taken a major
step towards production at its Zara Gold Project in Eritrea with the
completion of the Social & Environmental Impact Assessment (SEIA) and Social
& Environmental Management Plan (SEMP) for the 840,000oz Koka Deposit at
Zara.
The SEIA and SEMP have been lodged with the Eritrean Ministry of Energy &
Mines. These reports form a key component of the documentation required to
secure a mining licence for the Koka deposit. They represent the culmination
of two and half years of environmental, socio-economic and community
studies.
The studies were conducted by independent consultants Knight Piésold and
Global Resources Development and Management Consultants (GREDMCO) in line
with internationally accepted standards.
Chalice will press ahead with planning for the development of the Koka mine,
with first production scheduled for early 2013. Koka is forecast to produce
at an average annual rate of 104,000 ounces at a cash cost of US$338/oz.
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