Chesser unearths best ever gold hits at Diamba Sud; shares fly
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Special Report: New drilling results at Chesser Resources’ (ASX:CHZ) recent Area D gold discovery – like 16m at 23.38g/t gold from 40m – are truly spectacular.
Chesser caught the market’s attention in July this year with 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.
With Barrick advancing the Bambadji tenement to the immediate east and their 18Moz Loulo-Gounkoto just 7kms away reportedly showing strong similarities to Diamba Sud, one could expect that Chesser’s results are attracting a lot of attention in the region.
Chesser is currently knee-deep in a 20,000m drilling program to discover how big it actually is, with new drilling results now significantly extending the thick mineralised zones at Area D. Highlights include:
Thick, shallow, and very high grade – everything an investor should look for in drilling results.
The stock jumped +25 per cent in early trade.
These wide, almost vertical gold-rich zones in the fresh rock are likely ‘feeding’ the oxide mineralisation closer to surface.
Both targets remain open.
The two holes above represent the highest gram-metre intercepts from the project to date — very encouraging at this early stage of the largest drill program undertaken on the property, Chesser managing director Mike Brown says.
“The results highlight an extensive high grade and shallow oxide system at Area D,” he says.
“It appears that the oxide mineralisation is broadly horizontal, with trends relating to underlying subvertical sulphide hosting structures.
“These structures appear to trend NE and NW and remain open for further drill testing.
“We are looking forward to expanding the drill program in these directions as we continue this transformative program.
“Drilling is currently progressing at Area A and we look forward to reporting these results as they are received.”
Chesser expects a steady flow of news at least until late April.
The rigs are currently spinning the adjacent Area A discovery, while greenfields targets at Western Splay and Southern Arc will also be tested.
Chesser is also currently evaluating options to accelerate further drilling campaigns following a strongly supported $8m private placement on November 6.
This article was developed in collaboration with Chesser, 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.