Chalice ramps up Eritrean exploration

Tim Goyder's Chalice Gold Mines has announced its wholly-owned subsidiary, Keren Mining, has been granted two new exploration licences in Eritrea.

Chalice told the ASX today the new licences, for gold and base metals tenement Mogaraib North and the Hurum gold deposit, total 830 square kilometres.

Chalice will launch a $1 million exploration program at the tenements over the next 12 months.

Also, Chalice announced it had reached agreement for the conversion of its Zara North and Zara South prospecting licences to exploration licenses.

Chalice chairman Tim Goyder said: "With the granting of these new tenements, and the successful conversion of Zara North and South to exploration licences, Chalice now holds exploration licences totalling some 1445 sq km in a region that has a demonstrated potential to host substantial high grade gold and base metal deposits."

"We look forward to implementing intensive exploration programs on these properties and a steady flow of positive news in the coming months."