FOR IMMEDIATE RELEASE: June 18, 2009 TSX-V: COD
Chalice Diamond Corp: Optionee, Strike Minerals Inc.,
Intersects 298.43 g/t Au over 0.46m on Adjacent Claims
VANCOUVER, BC –
Chalice Diamond Corp. (TSX-V:COD) and Abitibi Mining Corp.
(TSXV:
ABB) (the ‘Companies’) are pleased to announce that a recent gold discovery made by
Strike Minerals Inc. (‘Strike’) has potential to extend onto claims optioned by the Companies
to Strike earlier this year.
Strike recently reported
(see Strike press release dated June 9, 2009)
highly encouraging
results from a 30-hole drilling program conducted at its Nicholson gold property north of
Missinabie, Ontario. Highlights include 298.43 grams gold per tonne over 0.46 meters
intersected at a vertical depth of 40.5 meters on the main showing. The gold-bearing quartz
vein was traced more than 140 meters on strike, with potential to continue to both the
northwest and southeast.
In recognition of the potential for the continuation of the main showing, Strike optioned four
claims (held 75% by Chalice Diamond and 25% by Abitibi Mining) surrounding its Nicholson
property earlier this year (see press release March 31, 2009). Strike agreed to pay the
Companies a total of $60,000 and 300,000 shares over a two-year period as well as spend
$300,000 to explore the claims by March, 2012. Once these commitments are completed,
Strike will have earned a 100% interest in the four claims, subject to a 3% NSR.
With the success of the recently completed drilling program, Strike is extending its option
with the Companies on the Nicholson property. The extension of the option permits Strike to
further explore and develop the potential of the Nicholson property.
By June 26, 2009, Strike will make its second payment of $10,000 and issue a further
50,000 shares to Chalice Diamond Corp. (75%) and Abitibi Mining Corp. (25%).
Strike is currently reviewing all data from the drilling program and past programs. The
project geologist is developing a plan of further exploration of the property to prove its full
merit.
About Chalice Diamond
Chalice Diamond Corp., in conjunction with joint venture partners, is continuing the search for
diamond, base and precious metal deposits in the Wawa-Chapleau region of Ontario, where it
has staked or optioned approximately 100,000 hectares of highly prospective ground.
For further information contact:
Kevin Hull,
Hughes Exploration Group
Phone: (604) 685-2222
Email:
info@chalicediamond.com
