Chesser Resources Limited (ASX:CHZ) has reported encouraging final drilling results from its Phase 3 drilling programme at its flagship Diamba Sud Gold Project in Senegal, West Africa.
Managing Director, Mike Brown, said the drilling has confirmed an alteration style that is analogous to other large systems on the Senegal Mali Shear Zone (SMSZ) with strong indications it is part of, or proximal to, a large hydrothermal system.
Mr Brown said the company’s management is extremely encouraged by the results and planning for the next phase of drilling is already underway.
“Our understanding of the geology at Area A is rapidly growing and we are very encouraged in terms of the intensity, thickness, continuity and extent of this emerging gold system,” Mr Brown said.
“The drilling is still relatively widespread and sparse, but we are now able to vector in on a potential feeder system as well as favourable host lithologies.
“The follow-up drilling at Area D has also stressed the possible critical role of northwest-trending structures at Diamba Sud, as we have already seen at Area A.
“This enhances the potential of Area D and also the untested Western Splay, which is marked by a strong gold auger anomaly and nearby artisanal mining activity.
“The team has done incredibly well in advancing this new discovery and we look forward to updating the market on our plans for the next phase of drilling in the near future.”
The Northern Arc target within Chesser’s flagship Diamba Sud Project is located adjacent to the prolific Senegal-Mali shear zone (SMSZ) and proximal to Barrick’s world class Loulo-Gounkoto mine.
A total of 10 DD holes and 19 RC holes were successfully completed as part of the Phase 3 DD and RC drilling programme in the central part of Area A, where previous RC drilling had intersected thick and high-grade gold mineralisation in fresh rock.
Building on the knowledge gained through the recent exploration programme, the dompany is currently advancing planning for the next phase of drilling at Diamba Sud, which would be expected to be completed by onset of the wet season in mid-July. Specifically, this drilling is expected to target the following areas:
Area A: The feeder structure along strike to the southeast (approx. 750m until tenement boundary with Barrick/IAMGOLD JV) and where it intersects favourable lithologies. Significant potential remains to extend the gold mineralisation at Area A as well as the auger anomalies to the west of it towards Area D.
Area D: The interpreted northwest striking structure which is to date untested along strike in both directions.
Western Splay: Northwest striking IP feature, strong auger gold geochemical anomaly and artisanal hard rock mining is expected to be targeted by RC drilling