While Chance the Rapper hasn't been totally silent, it's crazy to think that it's been two calendar years since the Chicago representative released his Grammy Award-winning third mixtape, Coloring Book. That's not to say that Chance hasn't been working; during his interview with Peter Rosenberg for Open Late, he let it be known that he's working on a lot of music, including two projects that fans should be VERY excited for.

The first would find Chance joining the ranks of Pusha-T, Teyana Taylor, and Nas, as he has a Kanye West-produced release on the way. "I'm gonna do a seven-track with 'Ye," Chance told Rosenberg. While there's no current timeline for this release, Chance says that he's "supposed to be working on it in July."

On the flipside, Chance also revealed that his collaborative project with Childish Gambino is very much on the way, saying he's been "actively like working on the project with Childish." For those of you thinking this might end up being a shorter project, it sounds like it will be a full-length release: "We got six songs that are all fire. But I think the album's gonna be more than 14 songs. I think it's gonna be a full thing."

Later in their conversation, Chance speculated that he's about "30 percent" finished with all of the music he's working on right now, and gave no concrete information in terms of release dates. He does say that he has a lot of material he's sitting on, though, so don't be surprised if he randomly drops some surprise heat in the near future.

Check out the clip above where Chance talks new music with Kanye and Childish, the full episode of Open Late below, and be sure to hit YouTube.com/Complex for more Open Late With Peter Rosenberg.