Pyramid Hill Gold Project

Location

The Pyramid Hill Gold Project covers three districts and is located between 20-50km north-west of the town of Bendigo in Victoria, Australia. 

Figure 1. Pyramid Hill Project tenement holdings and regional gold occurances. 

The Opportunity

The 100%-owned Pyramid Hill Gold Project is a district scale holding comprising an extensive 4,500km2 area in one of the most exciting gold provinces worldwide. The Bendigo region is enjoying a significant renaissance in gold exploration and development with the continued success of several nearby projects. 

The Pyramid Hill Gold Project extends to the north-west of the world-class >22Moz Bendigo Goldfield and to the north-east of one of the world's highest-grade gold mines, the >7Moz Fosterville Gold Mine owned by Kirkland Lake Gold (NYSE / TSX: KL |ASX: KLA).

Four large gold-in-soil anomalies have been identified, overlying 70km of strike. These anomalies are significant in scale and proximal to three major regional faults which host multi-million ounce gold deposits, including Bendigo, Ballarat and Castlemaine. 

A maiden 8,500m Aircore / Reverse Circulation drill program has commenced at the Project, designed to target three large-scale, untested gold targets, interpreted to be 'buried hills', hidden below Murray Basin cover (Figure 2).

 
Figure 2. Planned Aircore / RC drill collars and gold-in-soil anomaly contours over 1VD gravity. 

The Pyramid Hill Gold Project also leverages off the Victorian Government's "Gold Undercover" initiative, which estimates a potential 32Moz* undiscovered gold endowment in the Bendigo Zone. 

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Geology and Exploration

Chalice has validated the two large historical gold-in-soil anomalies through a program of Bulk Leach Extractable Gold (BLEG) soil sampling. Given the success of this initial geochemical program, Chalice is planning additional geochemical sampling along strike of the west anomaly, which is currently open to the north and south, and to cover other highly prospective fault trends which have not previously been sampled.

Chalice has also reprocessed regional geophysical datasets to better define the location of the key regional faults, which are important controlling structures for the major gold deposits of the region. The Sebastian, Muckleford and Campbelltown Faults which host the Bendigo, Castlemaine and Ballarat gold deposits are interpreted to trend through the Company’s tenure.

Acquisition Terms

The Pyramid Hill Project is 100% owned.

*Lisitsin, V., Olshina, A., Moore, D.H. & Willman, C.E., 2007. Assessment of undiscovered mesozonal orogenic gold endowment under cover in the northern part of the Bendigo Zone. GeoScience Victoria Gold Undercover Report 2, Department of primary Industries.