Highlights from the first 12 holes include 18 metres at 5.61 g/t gold from 6 metres, 10 metres at 2.72 g/t gold from 19 metres, 8 metres at 3.48 g/t, and 11 metres at 1.16 g/t gold.
51 holes for 3,485 metres have been completed in the reverse circulation (RC) program with the program to be complete by the end of this month and further assays expected.
Shares in the company opened up 15.7% to 4.4 cents, before going as high as 44.7% higher to 5.5 cents at 12.43pm.
Chesser’s managing director Mike Brown said: “We are excited that first pass drilling has successfully intersected shallow, high-grade gold mineralisation at such an early stage in the drilling campaign.
“To intersect 18 metres at 5.61 g/t gold in oxide from 6 metres is extremely encouraging and demonstrates the highly prospective nature of the project.
“The Phase 1 drilling program continues at Diamba Sud, systematically testing priority targets. In the coming months, the company looks forward to steady stream of news flow as we continue to announce results as they become available.”
Proactive caught up with Mike Brown last week ahead of today's results.
Phase II to comprise another 5,000 metres
The 53.2-square-kilometre Diamba Sud project consists of two blocks, DS1 and DS2.
Phase I drilling targeted DS1, which is 7 kilometres the west of the 5.5 million ounce Gounkoto mine.
Diamba Sud is located about two kilometres west of the Senegal Mali Shear zone (SMSZ), a major regional structures host to numerous multi-million-ounce gold deposits.
Following the interpretation of all the results from the phase I program, a follow-up phase of RC drilling is expected that will comprise another 5,000 metres.
Project location showing historical drill results which are to be followed up