Chesser Resources Ltd (ASX:CHZ) has hit further broad intersections of high-grade gold in drilling at the Diamba Sud Gold Project in Senegal, Africa.
Assays have been received from the remaining 12 reverse circulation (RC) drill holes from a phase-II drilling program with ‘significant’ intersections encountered along two north-trending host structures adjoining Line D within the Northern Arc target.
The best result is 53 metres at 2.61 g/t gold from 57 metres, including 17 metres at 4.97 g/t from 59 metres in hole DSR-103.
“Significant" mineralisation confirmed
Managing director Mike Brown said: “These final highly encouraging drill results confirm the presence of areas of significant gold mineralisation along a significant structure within the Northern Arc target.
“This is in addition to the previously announced discovery at the Line A area.
“The overall length of the mineralisation intersected in hole DSR-103 is exceptional, as is the mineralisation across the intersected structure.
“This may represent a high-grade shoot, with detailed drilling required to confirm the full extent of these emerging zones of gold mineralisation.
“Planning is underway for the next phase of follow-up drilling scheduled to begin immediately following the wet season.”
Shares have been up as much as 12% to an intra-day high of 8.2 cents, which is a new 12-month high.
Other notable intersections include:
- 4 metres at 2.23 g/t from 93 metres, and 4 metres at 2.75 g/t from 99 metres;
- 14 metres at 1.74 g/t from 8 metres; and
- 2 metres at 4.99 g/t from 22 metres.
Similar to other large systems
The northern Arc target exhibits characteristics similar to other large gold systems in the region, including the nearby world-class Gounkoto/Loulo and Fekola deposits:
- Spatially related to splays off the Senegal Mali shear zone (SMSZ);
- Northerly trend of mineralisation; and
- Association of potassic alteration and pyrite with high-gold grades.
A full review of the exploration results is underway with drilling activities expected to resume in October following the West African wet season.