CHALICE DIAMOND CORP. SAMPLES 211.82 GRAMS PER TONNE ON NEW GOLD PROSPECT

2009-04-23 12:49 ET - News Release

Mr. Kevin Hull reports

CHALICE DIAMOND CORP. SAMPLES 211.82 GRAMS PER TONNE ON NEW GOLD PROSPECT

Chalice Diamond Corp. is preparing to conduct intensive, follow-up exploration focusing on multiple vein-type gold targets at its wholly owned Old Cabin project in Jacobson Township, about 48 kilometers northeast of Wawa, Ont.

Chalice Diamond recently sampled one of the quartz veins, with a grab sample returning 211.82 grams gold per tonne. The company has also completed a preliminary (in-house) ground magnetometer survey that revealed a northeast-to-southwest trending series of magnetic highs occurring along the spine of the Goudreau anticline.

Historic exploration programs at the Old Cabin project have discovered at least 13 known vein systems. The highlight of historic exploration was an extensively trenched, 550-foot-long gold zone that returned a channel-sample assay of 1.18 ounces of gold per ton across a width of 5.5 feet.