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Chesser Resources diamond drilling results confirm gold discovery at Diamba Sud Project

Four diamond drill holes were completed in the central part of Area A where previous reverse circulation drilling had intersected thick, gold mineralisation in fresh rock.

Chesser Resources Limited - Chesser Resources intersects gold mineralisation up to 18.2 g/t in first diamond holes at Diamba Sud Project
The mineralisation at Northern Arc has marked similarities to that seen at the nearby, world-class Gounkoto-Loulo mining complex

Chesser Resources Limited (ASX:CHZ) has received assays from the first diamond holes drilled at Area A within the Northern Arc target at the flagship Diamba Sud Project in Senegal, West Africa confirming gold discovery. 

The first diamond hole validates the high-grade nature and style of mineralisation with potential structure control.

Notable intersections from hole DSDD01 include:

  • 4 metres at 9.36 g/t gold from 14 metres in saprolite including 2 metres at 18.20 g/t gold from 14 metres; and
  • 16 metres at 8.51 g/t gold from 86 metres in fresh rock, including 10 metres at 13.11 g/t gold from 86 metres.

Results from other altered sections of the hole are pending.

“Strong similarities to nearby world-class mines”

Managing director and CEO Mike Brown said: “The assay results received to date have successfully confirmed the discovery of high-grade mineralisation associated with intense alteration with strong similarities to other nearby world-class mines situated along the Senegal-Mali shear zone.

“The style, thickness and continuity of the mineralisation through the mineralised zone and along strike is impressive, pointing to the potential for a large system.

“With further results pending and drilling ongoing, the company is now entering an exciting period and we look forward to reporting on our progress in the coming weeks.”

The Northern Arc target showing 'significant' drill intersections 

Step out holes at Area A extend the gold mineralisation up-dip and along strike for at least 300 metres with partial assay results from 3 diamond holes including:

  • 14 metres at 5.18 g/t gold from 0 metres, including 4 metres at 15.44 g/t gold from 8 metres;
  • 6 metres at 5.11 g/t gold from 90 metres, including 3 metres at 6.76 g/t gold from 93 metres;
  • 6 metres at 4.91 g/t gold from 70 metres, including 3 metres at 7.11 g/t gold from 70 metres; and
  • 5 metres at 3.75 g/t gold from 83 metres, including 1 metre at 11.40 g/t gold from 86 metres.

Further drilling planned

The potential remains to extend the gold mineralisation at Area A to the northeast, east and south, where the alteration zones remain open and untested in these directions.

Scope of work for Phase-3 is for at least 2,000 metres of diamond drilling (DD) and 2,500 metres of reverse circulation (RC) drilling to be completed by early February, fully funded from existing cash reserves.

Quick facts: Chesser Resources Limited

Price: 0.23 AUD

Market: ASX
Market Cap: $94.1 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

3 min read