Chesser Resources Limited provided an update on the exploration and development activities from the Diamba Sud Gold Project in Senegal, West Africa. This release reports on the results from the Phase 9 drill program and includes: · Kassassoko: nine Reverse Circulation ("RC") holes, totaling 827m
· Gamba Gamba Nord: eight RC holes, totaling 814m · Karakara: three RC holes, totaling 450m · Area D: 17 Diamond Drill ("DD") holes, totaling 1,943.5m
· Moungoundi: eight RC holes, totaling 988m · Area D South: two DD holes, totaling 126m. Kassassoko is located 2.5km south of Karakara and may form the southeast extension of the Western Splay structure. The area has been actively exploited by the local artisanal miners. Nine RC holes were drilled to follow up and to better understand the previously reported 2 DD holes and high-grade rock chip results. The main lithologies encountered were granitic rocks, two phases of diorite (medium grain diorite and porphyritic diorite) and rare metasediment that remain as enclaves in the granite. Mineralisation is hosted in the granite and medium grain diorite within sheared and stockworked zones associated with albite/haematite/pyrite alteration. Additional drilling is required to define the geometry of the mineralisation. A significant number of mineralised intervals were returned from this drilling and it is clear that a significant mineralised system is being defined at Kassassoko. DSR461: 35m @ 1.4 g/t gold from 3m, DSR466: 3m @ 2.9 g/t gold from 13m and 11m @ 4.1 g/t gold from 47m, DSR463: 5m @ 3.5 g/t gold from 54m, DSR459: 9m @ 1.5 g/t gold from 68m, 5m @ 1.2 g/t gold from 80m and 14m @ 1.1 g/t, gold from 88m, DSR465: 5m @ 2.6 g/t gold from 49m. Gamba Gamba Nord is located 3.9km northwest of Area D close to the western edge of the Diamba Sud permit boundary. Drilling targeted both geochemical and geophysical targets and no previous drilling has occurred in this area. The geology is characterised by a metasedimentary sequence of sandstones and conglomerates with intermittent hydrothermal brecciation underlain by a felsic granite intrusion. Weathering is typically to a depth of between 30m to 42m. Mineralisation occurs within sulphide rich mafic volcaniclastics near the granite contact striking north-south and dipping to the west at approximately 60°. There are currently two sub vertical gold bearing zones defined by drilling, the first of which is between 10m and 15m wide with a potential strike length of 275m interpreted from both drilling (100m apart) and historical artisanal workings. The second is narrower zone is 1m wide and was observed within a single drillhole. Eight RC holes were drilled at Gamba Gamba Nord at various orientations to test the subsurface targets at this prospect. Two drillholes yielded significant positive results, intersections include.