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Chesser Resources in trading halt ahead of capital raising

The trading halt will be in place until March 30 or when an announcement is made.

Chesser Resources Limited - Chesser Resources in trading halt ahead of capital raising
Chesser’s flagship project is the Diamba Sud Project in Senegal, West Africa

Chesser Resources Ltd (ASX:CHZ) is in trading halt ahead of a proposed capital raising.

The trading halt will remain in place until the beginning of trade on March 30 or when an announcement is made to market, whichever occurs earliest.

West Africa exploration

Chesser has had recent success in its exploration for ‘gold elephants’ with high-grade gold found at its flagship Diamba Sud Project in Senegal, West Africa.

The project is around 2 kilometres west of the Senegal Mali Shear Zone (SMSZ), which hosts numerous multi-million-ounce gold deposits including B2Gold Corp’s (TSE:BTO)(NYSEAMERICAN:BTG) 7.6 million ounce Fekola Mine, Barrick Gold Corp’s (NYSE:GOLD) 18 million ounce Loulo-Gounkoto complex and AngloGold Ashanti Limited (NYSE:AU) and Iamgold Corp’s (NYSE:IAG) Sadiola and Yatela mines.

Diamond drilling in Area A confirmed high-grade gold in a steeply dipping feeder structure by returning 21 metres at 2.29 g/t from 156 metres including 2.5 metres at 6.07 g/t, and 16 metres at 8.51 g/t including 10 metres at 13.11 g/t gold.

Quick facts: Chesser Resources Limited

Price: 0.24 AUD

ASX:CHZ
Market: ASX
Market Cap: $85.61 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