Chalice unveils maiden resource

for Koka

Chalice Gold Mines has unveiled a maiden resource of 4.6 million tonnes for 760,000 ounces for the Koka deposit at its Zara project in Eritrea.

The company says its feasibility study, being compiled by Lycopodium Minerals, AMC and Knight Pisold, is expected to be completed next month.

Chalice holds an 80 per cent stake in the Zara project with an option to acquire the balance from Dragon Mining.

Chalice shares were unchanged at 49.5 cents at 11am.