- Chesser Resources (CHZ) increases its gold mineralisation along the Karakara strike length on the Diamba Sud Gold Project in Senegal, West Africa
- Mineralisation was defined a further 75 metres south of previous drilling to increase the Karakara strike length to over 200 metres
- Drill results from the existing two most northern traverses confirmed historical high-grade mineralisation with best results including five metres at 19.0 g/t gold from 99 metres
- Follow up drilling is planned to follow up on the receipt of positive assay results from the current drilling
- CHZ shares are down 5.05 per cent, trading at 9.4 cents
Chesser Resources (CHZ) has increased its gold mineralisation along the Karakara strike length on the Diamba Sud Gold Project in Senegal, West Africa.
Mineralisation was defined a further 75 metres south of previous drilling to increase the Karakara strike length to over 200 metres in its latest drilling results from two diamond holes.
Drill results from the existing two most northern drill traverses confirmed historical high-grade mineralisation with best results including six metres at 5g/t gold from 66 metres and five metres at 19.0g/t gold from 99 metres from hole DSR348.
DSDD070 was drilled approximately 75 metres south of the existing drilling and was drilled at a low angle to the west to test below the extensive historical artisanal workings prior to the area being fully rehabilitated and safe to operate over.
Best results from DSDD070 include one metre at 16.6g/t gold from 46 metres and five metres at 1.7g/t Au from 57 metres.
It appears mineralisation is associated with quartz-carbonate-hematite-albite-pyrite alteration within hydrothermally altered brecciated sedimentary rocks.
The north-south trending, east dipping sedimentary sequence is bounded by granite to the east and west.
The company says the “outstanding” assay results should assist in a better understanding of the controls and geometry of mineralisation.
Follow up drilling is planned to follow up on the receipt of positive assay results from the current drilling, however, based on the results to date Karakara is highly likely to add
significantly to the mineral resource inventory at Diamba Sud.
An initial resource estimate for Karakara will be undertaken during 2022 and a definitive feasibility study has commenced.
CHZ shares were down 5.05 per cent, trading at 9.4 cents at market close.