Chrysalis Resources has completed a 26 hole, 2,145 metre reverse circulation drilling program on its Shikila copper project in north-western Zambia.
The program tested eight 120 part per million copper in soil anomalies within a 24 kilometre long, semi-continuous copper trend, specifically targeting supergene copper mineralisation between 20 and 40 metres below surface.
Drilling at the two north-western soil anomalies and the central anomaly over a magnetic high intercepted deeply weathered, altered, magnetic and pyritic gabbro units.
All samples containing elevated copper, determined via XRF, have been submitted to the SGS Laboratory in Kalulushi for copper and gold analysis, with assays pending.
About Chrysalis Resources
Company – History
The Company was incorporated on 13 June 2007 for the purpose of acquiring prospective mineral projects primarily focused on gold, iron ore, uranium and nickel. Since incorporation, the Company has acquired the Zambian Copper Project, Pioneer Gold Project, Halloween West Project, West Angelas Iron Ore Project, Horseshoe South Project and the Gregory Range Project.
Chrysalis’ objective was to rapidly develop the identified assets in the project areas and to advance them as quickly as possible. In recent years, the gold, iron ore, uranium and nickel industries have experienced unprecedented growth with many exciting new development opportunities. Within this dynamic environment, Chrysalis is focussed on identifying a proven resource base through an active exploration program as the primary driver of growth.
|May 2008||Australian Stock Exchange Listing|
|September 2009||Doolgunna West (now Halloween West) Acquisition|
|January 2011||CID Discovery at West Angelas Project|
|September 2011||Non-Renounceable Rights Issue (1:2)|
|December 2011||Non-Renounceable Rights Issue – Allocation of Shortfall|
|March 2012||Out of Court settlement signed with new government|
|May 2012||Halloween West Farm-In Agreement executed with Talisman Mining Limited|
|June 2012||Finalisation of Acquisition of Zambian Copper Project|
|August 2012||Strategic Alliance executed with Tiger Resources Limited (ASX:TSX: TGS, “Tiger”)|
|October 2012||Drilling commences in Zambia|