- Chesser Resources Ltd has started Phase 2 of its reverse circulation (RC) drilling program at its Diamba Sud Project in Senegal
- Drilling will focus on testing the high priority Northern Arc and Western Flank targets which were discovered in Phase 1
- Both targets show similar geological characteristics to other gold systems in the region, including the Gounkoto/Loulo and the Fekola deposits
- The company is also planning to complete an induced polarisation (IP) geophysical survey over the target areas
Chesser Resources Ltd has commenced Phase 2 of the maiden reverse circulation (RC) drilling program at its Diamba Sud Project in Eastern Senegal.
Chesser received final assay results from Phase 1 in May this year, and Phase 2 will focus on testing the high priority Northern Arc and Western Flank targets which were discovered in Phase 1. A third target, the Southern Zone, was also initially identified during Phase 1, but Chesser management has not mentioned it as part of Phase 2.
At the Northern Arc target, widespread gold mineralisation has recently been intersected in both fresh rock and oxide material, including: 18m at 5.56 g/t gold from oxide material, and 12m at 3.65 g/t gold from fresh rock.
At the Western Flank target, recent drilling intersected 6m at 7.71 g/t gold.
Both targets show similar geological characteristics to other large gold systems in the region, including the Gounkoto/Loulo and the Fekola deposits.
Chesser CEO and Managing Director Mike Brown said the company was encouraged by the quality of the bedrock gold targets identified in Phase 1 of drilling at Diamba Sud.
“The current phase of drilling is seeking to confirm the controls to the widespread, high-grade gold mineralisation intersected to date. Importantly, the geological attributes of these targets are considered very similar to the nearby world-class deposits associated with the Senegal Mali Shear Zone (SMSZ),” he said.
The company is also planning to complete an induced polarisation (IP) geophysical survey over the target areas.
Diamba Sud consists of two blocks covering 53.2km squared over the Kedougou-Kenieba Inlier in Eastern Senegal. It is roughly 2km west of the SMSZ, which is a major regional structure hosting several multi-million ounce gold deposits.
Chesser shares dropped by a slight 2.5 per cent today, trading at 3.9 cents per share in a $9.7 million market cap.