Proactive Investors - Run By Investors For Investors

Chesser Resources intersects high-grade gold in multiple holes at Diamba Sud Project

Phase 1 drilling program successfully completed with 70 holes drilled for 4,671 metres.
drill results
Results include 12 metres at 3.65 g/t gold from 42 metres

Chesser Resources Ltd (ASX:CHZ) has received the second set of assay results from the phase 1 reverse circulation (RC) drilling program at its flagship Diamba Sud Project in eastern Senegal.

The results include numerous high-grade gold intercepts within fresh rock:

• 12 metres at 3.65 g/t gold from 42 metres, including 8 metres at 4.47 g/t gold from 46 metres with the hole ending in mineralisation;
• 3 metres at 6.19 g/t gold from 80 metres, including 1 metre at 16.1 g/t gold from 81 metres;
• 11 metres at 3.54 g/t gold from 38 metres; and
• 5 metres at 3.18 g/t gold from 70 metres.

Diamba Sud Project is about 2 kilometres west of the Senegal Mali Shear Zone (SMSZ), a major regional structure and host to numerous multi-million-ounce gold deposits including B2Gold’s Fekola mine and Barrick’s Loulo-Gounkoto complex.

Chesser managing director and CEO Mike Brown said: “Intersecting high grade mineralisation in fresh rock in multiple holes across these two traverses within the Northern Arc target is a very significant and encouraging step forward for the Diamba Sud Project.

“The results from the first RC traverse reported in late March were very encouraging with extensive intercepts of mostly high grade oxide mineralisation.

“These additional fresh zone results significantly enhance the potential of the extensive gold anomalies, although we are still in the very early stages of testing Diamba Sud.

“With the Phase 1 drilling program now complete, we look forward to receiving the remaining results ,advancing the interpretation of the significant gold intersections and planning future activities.”

 

Drilling has ceased for a short period to allow for the interpretation of results.

Following interpretation of all the results from the phase 1 program, Chesser expects to commence a follow-up phase of RC drilling (phase 2) of about 5,000 metres.

Chesser is also planning a small IP (induced polarisation) geophysical survey over the Northern Arc target area to assist in the geological interpretation and future target generation.

In particular, the identification of potential host structures from this survey is considered a key step in advancing the geological model and targeting of potential gold mineralisation.

View full CHZ profile View Profile

Chesser Resources Limited Timeline

Related Articles

Blackrock gold mine
December 06 2018
The high-grade gold and silver project in north-central Nevada is adjacent to Hecla's Hollister Mine
EV being charged in European city
March 04 2019
Drilling, metallurgical test work and pilot processing for the Wolfsberg DFS are on the company’s agenda in 2019.
A drill rig
January 16 2019
Sophisticated investors have served up $15 million for the drilling effort.

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use