Total
0
Shares
Chesser Resources (ASX:CHZ) - CEO, Mike Brown - The Market Herald
CEO, Mike Brown
Source: 121 Mining Investment TV
  • Chesser Resources (CHZ) has intersected thick, shallow, high-grade mineralisation from Area D at its Diamba Sud Gold Project in Senegal
  • Three diamond holes and eight reverse circulation (RC) holes were drilled at Area D where up to 25.14g/t gold was previously intersected
  • Diamond drilling intersected up to 19.4g/t gold while RC drilling intersected up to 16.55g/t gold
  • Chesser is now waiting on results from an additional four diamond holes and 12 RC holes at Area D, as well as results from Area A
  • Additionally, the company is aiming to complete the drilling program in March 2021 with results expected until late April
  • Chesser is up an even 2 per cent on the market with shares trading at 25.5 cents

Chesser Resources (CHZ) has intersected thick, shallow, high-grade mineralisation from Area D at its Diamba Sud Gold Project.

The 53.2-square-kilometre Diamba Sud Project is situated in Eastern Senegal and lies over the gold-bearing Kédougou-Kéniéba Inlier.

Chesser drilled three diamond holes and eight reverse circulation (RC) holes at Area D, where up to 25.14g/t gold was previously intersected.

Diamond drilling

The three diamond holes were drilled to test the depth extent of the oxidised and fresh rock mineralisation intersected and investigate the nature of a northeast-trending structure.

The holes encountered fine-grained sandstones and carbonates, as well as extensive hydrothermal breccia zones.

Best results include 17.87 metres at 2.36g/t gold from 82.30 metres, including 0.95 metres at 19.4g/t gold from 89.35 metres, and 14 metres at 2.34g/t gold from 114 metres, including one metre at 14.9g/t gold from 120 metres.

RC drilling

All of the RC holes drilled intersected significant wide gold mineralisation and extended the thick oxide zones.

Further drilling will be undertaken to confirm whether the oxidised material has horizontal and structural control.

Significant results include 12 metres at 4.02g/t gold from 114 metre,s including two metres at 16.55g/t gold from 120 metres, and 13 metres at 3.61g/t gold from 63 metres, including one metre at 16.2g/t gold from 63 metres.

"We are delighted to report very positive results from the first 11 of 27 holes drilled at Area D following the wet season. We have extended the thick oxide mineralisation by over 100 metres in multiple directions from the original discovery mineralisation with these step-outs, with more results pending," CEO Mike Brown said.

"Deeper drilling has also intersected wide zones of mineralisation, with numerous structural zones pointing to likely controls on mineralisation," he added.

Chesser is now waiting on results from an additional four diamond holes and 12 RC holes at Area D, as well as results from Area A.

Additionally, the company wants to complete a 20,000-metre drilling program in March 2021, with results expected to flow through to the following month.

Chesser is up an even 2 per cent on the market with shares trading at 25.5 cents at 11:44 am AEDT.


Subscribe


CHZ by the numbers
More From The Market Herald
Chalice Gold Mines (ASX:CHN) - Managing Director, Alex Dorsch - The Market Herald

" Chalice Mining (ASX:CHN) raises $15M in oversubscribed SPP

Chalice Mining (CHN) has closed its oversubscribed share purchase plan (SPP) and raised $15 million.
Tempest Minerals (ASX:TEM) intersects further gold mineralisation at Warriedar West

" Tempest Minerals (ASX:TEM) intersects further gold mineralisation at Warriedar West

Tempest Minerals (TEM) has intersected further gold mineralisation at the Warriedar West Project in Western Australia.
OceanaGold (ASX:OGC) bolsters Haile gold mine reserves

" GBM Resources (ASX:GBZ) inches towards joint venture conclusion

GBM Resources (GBM) is moving closer to concluding its partnership with Novo Resources after executing a formal purchase and joint venture agreement.
First Au (ASX:FAU) finds 11 drill targets at Pilbara project

" First Au (ASX:FAU) finds 11 drill targets at Pilbara project

First Au (FAU) shares are in the green today after receiving positive results from its induced polarisation (IP) survey at its Razorback Gold