Total
0
Shares
Chesser Resources (ASX:CHZ) - CEO, Mike Brown
CEO, Mike Brown
Source: 121 Mining Investment TV
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Materials stock Chesser Resources (CHZ) has announced more high-grade results from recent drilling at its Diamba Sud Gold Project in West Africa
  • Among the best results is 16 metres at 23.38 g/t gold from 40 metres, including four metres at 74.23 g/t gold from 45 metres
  • The intersection occurred at Diamba’s Area D, which remains open to the northwest and northeast
  • Chesser plans to carry out additional drilling at Area D testing for extensions, while drilling is also underway at Diamba’s Area A
  • Shares in the company are up a healthy 12.5 per cent trading at 24 cents each

Chesser Resources (CHZ) has announced drilling at its Diamba Sud Gold Project in West Africa has returned shallow, high-grade results.

Drilling at the flagship project, which is located near Senegal, had been focused on Area D, where previous high-grade results were reported last month.

This latest program saw a total of three diamond holes and 12 reverse circulation holes drilled for a total of 621 metres and 1726 metres, respectively.

The drilling returned best results of 16 metres at 23.38 g/t gold from 40 metres, including four metres at 74.23 g/t gold from 45 metres.

Other strong results include four metres at 8.29 g/t gold from 16 metres, including
one metre at 24.60 g/t gold from 17 metres and 35 metres at 9.81 g/t gold from two metres, including 20 metres at 15.48 g/t gold from 14 metres.

The dirlling at Diamba also extended the shallow high-grade oxide mineralisation at Area D, which remains open to the northwest and northeast.

Commenting on the results, CHZ Managing Director and CEO Mike Brown said they were the best the company had received so far.

“Two holes from this program reported the highest gram-metre intercepts from the project to date, which is very encouraging at this early stage of the largest drill program undertaken on the property,” he explained.

Next steps for Chesser will be to expand the drilling program at Area D in the directions where the mineralisation remains open.

The company is also carrying out drilling at Area A within Diamba and expects results from this program to start coming in shortly.

Shares in Chesser Resources are up a healthy 12.5 per cent trading at 24 cents each at 11:54 am AEDT.

CHZ by the numbers
More From The Market Herald

" Celamin (ASX:CNL) secures commitments to raise $3.2m

Celamin Holdings (CNL) has secured binding commitments to raise $3.2 million at 7.5 cents per share. The company will issue up to 42.6...

" Kula Gold (AXS:KGD) releases RC results at Boomerang Kaolin prospect

Kula Gold (KGD) has released reverse circulation (RC) drilling results at its Boomerang Kaolin prospect in Western Australia’s Southern Cross region.

" Winchester Energy (ASX:WEL) acquires oil field in Texas

Winchester Energy (WEL) has acquired a 100 per cent working interest in the Varn oil field in Texas.
West Wits Mining (ASX:WWI) - Chairman. Michael Quinert

" West Wits Mining (ASX:WWI) increases Witwatersrand MRE by 20pc

West Wits Mining (WWI) has announced an update to the JORC mineral resource estimate (MRE) at its Witwatersrand Basin Project (WBP) in South