- Chesser Resources (CHZ) releases its maiden mineral resource estimate (MRE) over areas A and D at the Diamba Sud Gold Project in Senegal, West Africa
- The MRE was calculated by Dr John Arthur and reads 15.2 million tonnes at 1.6 grams of gold per tonne (g/t) for 781,000 ounces
- Chesser is now reviewing both Area A and Area D with work including a structural study, relogging historical drilling and remodelling to better target future drilling targets
- Additionally, a 15,000 to 20,000-metre drilling program is expected to begin in January 2022 to target resource expansion and identify mineralisation at depth
- Chesser is up 10.3 per cent on the market with shares trading at 16 cents
Chesser Resources (CHZ) has released its maiden mineral resource estimate (MRE) over areas A and D at the Diamba Sud Gold Project.
The 53.2 square kilometre Diamba Sud Project is situated in Eastern Senegal in West Africa and lies over the gold-bearing Kédougou-Kéniéba Inlier.
The MRE was calculated by Dr John Arthur and includes results from drilling up to and including October 18, 2021.
The maiden MRE reads 15.2 million tonnes at 1.6 grams of gold per tonne (g/t) for 781,000 ounces.
Of this, 69 per cent is in the indicated category, while 31 per cent is in the inferred category.
The resources remain open in both areas, leaving a high probability of increasing the resource once further drilling is undertaken.
CEO and Managing Director Andrew Grove is pleased with the MRE.
“The shallow, high-grade nature of the mineralisation has resulted in a robust resource that we believe will continue to grow with additional drilling,” Mr Grove said.
“The project has many merits – shallow, high-grade mineralisation, simple metallurgy, limited competing land use and access to infrastructure – which we believe gives Diamba Sud great potential to be a high returning future mining operation.”
Chesser is now reviewing both Area A and Area D with work including a structural study, relogging historical drilling and remodelling to better target future drilling targets.
Additionally, a 15,000 to 20,000-metre drilling program is expected to begin in January 2022 to target resource expansion and identify mineralisation at depth.
Chesser was up 10.3 per cent on the market, with shares trading at 16 cents at 11:23 am AEDT.