logo-loader
viewChesser Resources Limited

Chesser Resources delineates three high-grade gold targets from positive Diamba Sud drilling results

The targets will undergo follow-up drilling in the company’s phase-two program anticipated to begin in June.

1557804059_gold.jpg
Results include 6 metes at 4.7 g/t gold from 26 metres

Chesser Resources Limited (ASX:CHZ) has identified three high-grade gold targets using assay results received from the final 22 reverse circulation holes drilled at its Diamba Sud Gold Project in Senegal.

The first-phase drilling program was completed in late March and drilled 70 holes for a total of 4,671 metres, encountering a host of gold intersections used to generate the targets.

An induced polarisation geophysical survey will be undertaken to assist in geological interpretation and future target generation before Chesser begins its planned phase-two RC drilling program in June.

 

Chesser managing director & CEO Mike Brown said the highly promising results receiving from first-pass RC drilling had outlined three targets for immediate follow-up drill testing.

Highlighted results include:

  • 6 metes at 4.7 g/t gold from 26 metres;

  • 19 metres at 1.49 g/t from 39 metres;

  • 4 metres at 6.51 g/t from 26 metres, including 2 metres at 12 g/t;

  • 17 metres at 1.33 g/t from 20 metres;

  • 2 metres at 5.84 g/t from 49 metres; and

  • 6 metres at 1.19 g/t from surface.

READ: Chesser Resources intersects further high-grade gold at Diamba Sud in Senegal

Brown added: “The geological attributes of these targets are considered very similar to the nearby world-class deposits associated with the Senegal-Mali shear zone (SMSZ).

“In particular, the Gounkoto, Fekola and Loulo gold deposits, which range from 5.5 to 12 million ounces in size, are spatially associated with splays extending from the SMSZ, and have a marked potassic alteration with pyrite as the dominant sulphide mineral.

“Taking into consideration the results from the first phase of drilling, this bodes well for the future discovery potential at Diamba Sud.”

 

READ: Chesser Resources continues advancing Diamba Sud Gold Project in Senegal

The Northern Arc target is a 1-kilometre-wide zone with numerous high-grade gold intercepts on interpreted northerly-trending structures.

Western Flank is a potential trend of up to 10 kilometres long defined by artisanal workings, an aeromagnetic feature and supported by drill results from both Chesser’s first-phase program and previous drilling.

The Southern Zone target includes numerous widespread drill intersections 200 metres northwest of previous notable results, which include 4 metres at 4.43 g/t gold within a wider intersection of 14 metres at 2.85 g/t.

READ: Chesser Resources intersects high-grade gold in multiple holes at Diamba Sud project

Diamba Sud consists of blocks DS1 and DS2 which together cover a 53.2-square-kilometre area just two kilometres west of the SMSZ.

DS1 immediately adjoins the Kharakhene open pit gold mine operated by Afrigold and is 7 kilometres east of the 5.5-million-ounce Gounkoto mine.

Chesser also holds about 400 square kilometres of prospective ground in the region.

Quick facts: Chesser Resources Limited

Price: 0.095 AUD

ASX:CHZ
Market: ASX
Market Cap: $27.11 m
Follow

Add related topics to MyProactive

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

NO INVESTMENT ADVICE

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...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: Chesser Resources has high grade gold discovery at Diamba...

Chesser Resources (ASX: CHZ) Managing Director Mike Brown joined Steve Darling from Proactive Vancouver to discuss their project in Senegal. Chesser undertaking two small drill programs with success. Brown talks about what they have discovered and what the next steps they are planning at...

on 12/9/19

3 min read