Chalice Gold Mines Limited is an Australian-based gold and base metal exploration company with a current focus in the East African nation of Eritrea.
In 2012 the Company sold its 60% interest in the 760,000 ounce Koka Gold Deposit to China SFECO Group for net proceeds after tax of US$82 million. The Company is now seeking a new core asset where it can effectively deploy this signficant capital pool, with a focus on advanced gold and base metal (particularly copper) opportunities internationally.
Together with its 40% partner ENAMCO (the Eritrean National Mining Corporation), the Company is actively exploring a 550 square kilometre land package under the Mogoraib Joint Venture. This includes the Mogoraib North Licence which lies immediately north of the world-class Bisha gold and base metal mine. This exploration property is regarded as highly prospective for both Bisha-style Volcanic-hosted Massive Sulphide (VHMS) deposits and shear- and intrusive-hosted gold deposits.