viewChesser Resources Limited

Chesser Resources funded for gold exploration in Senegal after raising $900,000+

The company's land package is in a region containing numerous large-scale gold deposits including Barrick Gold's Loulo and Gounkoto mines.

Senegal on the map
Chesser’s maiden drill program commenced in January 2019

Chesser Resources Ltd (ASX:CHZ) directors have completed the acquisition of ordinary shares in the company pursuant to a subscription agreement entered into on the same terms as the placement completed in January 2019.

Director share subscription details

The company had raised $790,000 via its placement at 3.8 cents per share to sophisticated investors in January 2019.

Chesser has a strategic land package of over 400 square kilometres in the Eastern Senegal gold province in West Africa.

The region contains numerous large-scale gold deposits, covering the highly prospective and underexplored Birimian greenstone belt.

This includes Barrick Gold Corp’s (NYSE:GOLD) Loulo and Gounkoto mines with a combined resource of more than 18 million ounces of gold.

Chesser has already Identified a significant 4 kilometres x 4.5 kilometres ring-like geochemical gold anomaly at its flagship Diamba Sud Project, with deep auger intersections of up to 21.1 g/t gold.

The company has multiple high-grade priority drill targets at Diamba Sud.

Chesser’s maiden drill program commenced in January 2019. The phase 1 program will include 5,000 metres of reverse circulation drilling (RC) at Diamba Sud.

Next steps and news flow

• Complete phase 1 drilling
• Assay results
• Interpretation of results
• Commence phase 2 RC drilling (5,000m) at Diamba Sud
• Assay results
• Review and interpretation of all project results
• Assess strategic acquisitions and prioritise portfolio activity

Quick facts: Chesser Resources Limited

Price: 0.2 AUD

Market: ASX
Market Cap: $81.39 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Chesser Resources Limited named herein, including the promotion by the Company of Chesser Resources Limited in any Content on the Site, the...


Full interview: Chesser Resources unveils 'really encouraging' phase 3 drill...

Chesser Resources Limited (ASX:CHZ) CEO Mike Brown tells Proactive the gold exploration company is encouraged by final drilling results from phase 3 drilling at the Diamba Sud Gold Project in Senegal, West Africa, which have extended the Area A discovery within the Northern Arc target. Brown...

on 12/3/20

2 min read