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Chesser Resources Limited

Chesser Resources confirms high-grade gold discovery at Diamba Sud Project in Senegal

Planning is underway for a program of detailed follow-up drilling immediately following the wet season.

Chesser Resources Limited - Chesser Resources confirms high-grade gold discovery at Diamba Sud Project in Senegal

Chesser Resources Ltd (ASX:CHZ) has received the first assays from its recently completed drilling program at its flagship Diamba Sud Project in eastern Senegal.

Results from the phase 2 reverse circulation (RC) drilling has confirmed a high-grade gold discovery at Line A within the Northern Arc Target.

Northern Arc Target: Plan view of Line A, showing previously reported results (orange labels) and current results (yellow labels).

Multiple zones of significant gold mineralisation were intersected, including:

  • 21 metres at 6.62 g/t gold from 53 metres, including 1 metre at 30.60 g/t gold from 69 metres, and 4 metres at 3.44 g/t gold from 76 metres in hole DSR093
  • 14 metres at 9.53 g/t gold from 75 metres, including 2 metres at 21.85 g/t gold from 78 metres, and 2 metres at 13.15 g/t gold from 83 metres in hole DSR092
  • 6 metres at 7.27 g/t gold from 60 metres; and 11 metres at 2.15 g/t gold from 70 metres; and 6 metres at 3.17 g/t gold from 107 metres in hole DSR088

Chesser managing director and CEO Mike Brown said: “These excellent drill results confirm a high-grade gold discovery at the Northern Arc Target within our 100% owned Diamba Sud Project, strategically located near the prolific Senegal Mali Shear Zone.

Schematic regional geology of eastern Senegal, showing the Diamba Sud Project and its proximity to both the SMSZ, and the major gold operations and projects on or adjacent to splays off the SMSZ.

“While there has been limited wide spaced drilling to date, planning is underway for a program of detailed follow-up drilling immediately following the wet season.

“We look forward to reporting the remaining assay results from this already highly successful program and updating the market on our future plans.”

Drilling program – next steps

Assay results are pending from 12 holes drilled in the vicinity of Line D within the Northern Arc Target, where previously reported significant oxide mineralisation (up to 18 metres at 5.61 g/t gold) and primary mineralisation (up to 8 metres at 3.48 g/t gold) was intersected.

The GAIP IP survey over Line D shows a large north-trending conductivity high coincident with the fresh rock intersection, possibly indicating deeper weathering over a host structure.

A full review of the exploration results will be undertaken during the remainder of the wet season (July-September) with drilling activities expected to resume in October.

Quick facts: Chesser Resources Limited

Price: $0.07

Market: ASX
Market Cap: $17.66 m
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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...

4 days, 21 hours ago

3 min read