GOLD
Chasing the next Fosterville Chalice Mining recently spun-out its gold assets into new company Falcon Metals, which will oversee the fancied Pyramid Hill project near Bendigo in Victoria.
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halice Mining has been in the spotlight a lot lately, and it’s not just because of the company’s recent history-defining resource at the Julimar project in Western Australia. Chalice has been active in the boardroom, fine-tuning its business model to ensure Julimar has the best opportunity to become the Tier-1 project it’s poised to be. In December 2021, Chalice completed a demerger of its gold assets into new company, Falcon Metals, which listed on the ASX in the same month. Falcon will be the new face of Chalice’s
Pyramid Hill, Viking and Mt Jackson gold projects in Victoria and Western Australia, with the former project a particular focus for Falcon in the early going. Located near Bendigo in the same region as Kirkland Lake’s Tier-1 Fosterville gold mine, Pyramid Hill spans more than 5000 square kilometres of licences and will see Falcon hold the largest exploration holding of any company in this prospective region. Falcon managing director Tim Markwell says prior to making the discovery at Julimar, Pyramid Hill was Chalice’s main priority.
Pyramid Hill spans more than 5000 square kilometres of licences.
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“Pyramid Hill was applied for by Chalice in 2017, just when noises were being made about Kirkland Lake’s discovery at Fosterville, and Chalice started picking up ground around the northern Bendigo, Fosterville region because the company realised there was going to be a bit more interest here,” he says. “So Chalice picked up ground and Pyramid Hill became quite a valuable asset – this is pre-Julimar – and then in 2020 the world changed when Chalice drilled a hole at Julimar and made a world-class discovery of nickel, copper and platinum group elements
