Chesser Resources Limited (ASX:CHZ) reports that assay results have confirmed its high-grade “Area A” gold discovery at its flagship Diamba Sud Project in Senegal, West Africa.
The company said the first diamond hole at Area A has proven the high-grade nature and style of mineralisation, with potential structural control.
Highlights from the first DD hole include: 4m at 9.36 g/t gold from 14m, including 2m at 18.20 g/t gold from 14m; anf 16m at 8.51 g/t gold from 86m, including 10m at 13.11 g/t gold from 86m.
Managing Director and CEO, Mike Brown, said gold mineralisation associated with wide zones of intense albite-carbonate-silica-pyrite alteration, with marked similarities to that seen at the nearby, world-class, Gounkoto-Loulo mining complex adjoining the prolific Senegal-Mali shear zone (SMSZ).
“The assay results received to date have successfully confirmed the discovery of high-grade mineralisation associated with intense alteration with strong similarities to other nearby world-class mines situated along the Senegal-Mali shear zone,” Mr Brown said.
“The style, thickness and continuity of the mineralisation through the mineralised zone and along strike is impressive, pointing to the potential for a large system.
“With further results pending and drilling ongoing, the company is now entering an exciting period and we look forward to reporting on our progress in coming weeks.”
Mr Brown said that potential remains to extend the gold mineralisation at Area A to the northeast, east and south, where the alteration zones remain open and untested in these directions.
Chesser’s scope of work for Phase 3 is for at least 2,000m of DD and 2,500m of RC drilling to be completed by early February, with the company being fully funded from existing cash reserves.