Special Report: More thick, high grade gold results at Chesser’s (ASX:CHZ) Diamba Sud gold discovery in Senegal will contribute to the commencement of a maiden resource model later this year. 

Chesser re-rated in July last year on some extremely high-grade gold intercepts in five successive holes at Area D, including 10m at 25.1 grams per tonne (g/t) and 48m at 6.7g/t.

Thick, shallow, and high grade – that’s the trifecta investors look for in drilling results.

The explorer has now reported results from late 2020 drilling at the neighbouring, also-impressive Area A.

This 25-hole program was designed to see how big the deposit was, and to prove up a geological model for resource estimation.

Highlights include 25 m at 7.20 g/t gold from 102 m (including 9m at 11.55 g/t) and 21m at 4.17 g/t gold from 113 m (including 5m at 7.42 g/t gold from 114 m).

These are world-class gold intercepts.

“The new results have firmed up the geological model at Area A and are expected to contribute positively to resource estimate studies at Diamba Sud that the company is expecting to commence this year,” Chesser says.

Another hole — DSDD026 — intersected 3.35 m at 1.96 g/t gold from 170 m and 2.95 m at 6.52 g/t gold from 180 m right near the tenement boundary.

DSDD026 corresponds with the gold auger anomaly that extends to the southeast of Area A for some 750m to Barrick’s Bambadji JV tenement boundary.

The Barrick Gold-IAMGOLD Bambadji joint venture is a project Barrick chief executive Mark Bristow has mentioned by name in both the Q3 and the Q4 earnings reports conference calls.

It is where they recently made a discovery called ‘Gefa’, which the JV has been drilling hard for the last 6-8 months.

They have also been drilling immediately east of Chesser near Area A.

“The intersection of sulphide mineralisation in hole DSDD026 is an exciting development and may represent the southern strike continuation of the high-grade dilational fault, potentially extending the structure by approximately 200m,” says technical advisor Mike Brown.

Upcoming newsflow

Chesser is expecting a steady flow of results through the first half 2021.

The drill rigs are currently spinning at Area D to follow-up on the exceptional results reported during the December 2020 quarter. Drilling will focus on testing extensions to the oxide and sulphide zones to the northeast, north and northwest of Area D.

Greenfield targets at Western Splay and Southern Arc are also planned to be tested as part of the current program.

This article was developed in collaboration with Chesser Resources, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.