Chalice Gold shareholders approve Eritrea sale

Chalice Gold Mines Limited (ASX:CHN) (TSX:CXN) announced on Friday that the resolution put to the general meeting of shareholders to dispose of Chalice’s 60% interest in the Zara Project was approved according to a statement on the company's website.

The Zara Project consists of six contiguous granted licences covering an area totalling 547 sq km situated in northern Eritrea, approximately 160 km northwest of the country’s capital, Asmara.

Chalice stock jumped 7.3% on the ASX in Sydney on the news bringing its market cap to $55 million, but no trades were recorded on the Toronto venture board.