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Chesser Resources signs drill contract to advance Diamba Sud gold discovery in Senegal

The drilling contact has been submitted to the Ministry of Mines for approval which has a maximum notification period of 21 days, after which drilling can proceed.

Chesser Resources Limited - Chesser Resources enters into contract with FORAGE FTE to advance Diamba Sud discovery in Senegal
Diamba Sud is the company’s flagship project covering 53.2 square kilometres

Chesser Resources Ltd (ASX:CHZ) has entered into a contract with FORAGE FTE Senegal for diamond drilling and reverse circulation (RC) drilling over the Northern Arc A discovery and Area D target within the Diamba Sud Gold Project in eastern Senegal, West Africa.

The scope of work is for at least 2,000 metres of diamond drilling and 2,500 metres of RC drilling.

This program is expected to be completed before the end of this year with first assay results expected by late November.

“Advancing next phase”

Managing director and CEO Mike Brown said: “We are delighted to be advancing the next phase of drilling so early in the field season at Diamba Sud.

“The thick, high-grade intersections encountered to date remain open in all directions and we are aiming to confirm the controls and potential extensions to this mineralisation in this next phase of drilling.

“First assay results are expected in four to five weeks following the commencement of drilling and we are looking forward to a subsequent steady flow of results from our exciting discovery alongside the prolific Senegal Mali shear zone.”

Grade shell modelling of Area A discovery showing interpreted east-dipping mineralised zones 

The program will focus on the Area A discovery and adjoining Area D target, aiming to confirm the controls and potential extensions to the high-grade intersections previously reported.

The Area A discovery has similarities with the intrusive-related mineralisation at Barrick’s Massawa project, which is about 50 square kilometres to the west of Diamba Sud.

Once the approval of the drilling contract by the Ministry of Mines has been obtained the drilling program will begin.

Both programs are expected to be completed by the end of the year.

Shares are trading at 7.2 cents, up slightly on yesterday's close but up appreciably from 3.1 cents in late August.

Quick facts: Chesser Resources Limited

Price: 0.089 AUD

Market: ASX
Market Cap: $29.13 m

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Full interview: Chesser Resources unveils 'really encouraging' phase 3 drill...

Chesser Resources Limited (ASX:CHZ) CEO Mike Brown tells Proactive the gold exploration company is encouraged by final drilling results from phase 3 drilling at the Diamba Sud Gold Project in Senegal, West Africa, which have extended the Area A discovery within the Northern Arc target. Brown...

on 12/3/20

2 min read