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Chesser Resources Limited

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.

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Price: $0.04

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Chesser Resources advances exploration in Senegal with new boss and drilling...

Chesser Resources (ASX:CHZ) managing director Mike Brown sat down with Steve Darling from Proactive Investors Vancouver to talk about their flagship project in Senegal called Diamba Sud. Brown talked about the project location and how it is surrounded by some major players in the...

on 20/3/19

3 min read