CHESSER R 22 December 2021
ASX Announcement
NEW HIGH GRADE GOLD DISCOVERY AT DIAMBA SUD
HIGH-GRADE MINERALISATION INTERSECTED - AREA H | |
• Shallow, high-grade mineralisation defined over 125m of strike at Area H | |
only• Best results include: | |
use | • 17m @ 9.6 g/t Au from 82m and 10m at 5.8 g/t Au from 117m (DSR323) |
• 9m @ 4.2 g/t Au from 63m and 12m @ 7.0 g/t Au from 92m (DSR341) | |
• 3m @ 11.4 g/t Au from 58m, 8m @ 10.5 g/t Au from 64m and 15m @ 1.9g/t |
Au from 75m (DSR345)
• 8 holes with multiple high-grade intercepts with cumulative intercept lengths per hole of between 10m and 53m with an average grade of 3.7 g/t Au per hole
• Discovery remains open along strike and at depth
• Resource definition drilling at Area H to commence early 2022
• Area H located ~1.2 km southwest of the 781koz Area D and Area A deposits
• Scoping study commenced over Area A and Area D
personal | Key Area H - intercepts: | |||||||||||
Hole ID | Interval | Gold | From | |||||||||
(m) | (g/t Au) | (m) | ||||||||||
DSR323 | 17 | 9.6 | 82 | |||||||||
DSR341 | 12 | 7.0 | 92 | |||||||||
DSR345 | 8 | 10.5 | 64 | |||||||||
DSR323 | 10 | 5.8 | 117 | |||||||||
DSR343 | 14 | 4.0 | 101 | |||||||||
For | DSR342 | 18 | 2.3 | 53 | ||||||||
DSR343 | 13 | 3.0 | 42 | |||||||||
DSR341 | 9 | 4.2 | 63 | |||||||||
DSR338 | 22 | 1.6 | 106 | |||||||||
DSR345 | 3 | 11.4 | 58 | |||||||||
DSR345 | 15 | 1.9 | 75 | |||||||||
DSR342 | 10 | 2.7 | 77 | |||||||||
Chesser's MD and CEO Andrew Grove commented: "Area H results clearly demonstrate the significant exploration potential that still exists over the Diamba Sud tenement. Mineralisation is open along strike and at depth and drilling planned for next year will add this area to the Resource inventory. Scoping studies currently being undertaken over Area A and Area D should clearly demonstrate the economics and development potential of the shallow, high-gradeand metallurgically simple mineralisation. We fully expect the maiden Mineral Resource base to significantly grow in 2022."
22 December 2021
ASX Announcement
Chesser Resources Limited ("Chesser" or "the Company" (ASX:CHZ)) is pleased to provide onlyan update on drilling results from the Diamba Sud Gold Project in Senegal, West Africa.
This release reports on the Phase 7 drill results from 33 reverse circulation drill ("RC") holes, totalling 4,178m over three prospects on the Diamba Sud tenement (Figure 1):
• Area H - 14 RC drill holes totalling 2,147m
• Western Splay - 9 RC drill holes totalling 990m
• Area F - 10 RC drill holes totalling 1,041m
useIn addition, the results from two diamond drill holes from the Area A resource definition drilling program were returned, totalling 163.5m.
personalFor
Figure 1: Plan view showing historical drilling and holes reported in this release with selected
significant results1 and underlying resistivity image.
1 Refer to ASX announcement dated 16 November 2021 for details of the Mineral Resource Estimates. The Company is not aware of any new information or data that materially affects the information included in the referenced ASX announcement and confirms that all material assumptions and technical parameters underpinning the estimates in the market announcement continue to apply and have not materially changed.
Page 2 of 18
22 December 2021
ASX Announcement
DIAMBA SUD DRILLING onlyAREA H
Area H is located 1.2km southwest of Area D and located over a geochemical anomaly coincident with the interpreted trend of the Northern Arc structure. A single RC drill traverse (six holes), reported 23 April 20212, defined a steep dipping mineralised structure with intercepts including:
use• DSR263: 4m at 9.6 g/t gold
• DSR262: 11m at 2.1 g/t gold
• DSR263: 3m at 1.7 g/t gold, 2m at 2.5 g/t gold, 5m at 3.4 g/t gold and 5m at 4.2g/t gold
• DSR264: 9m at 1.9 g/t gold
Fourteen RC drill holes were drilled on six 25m spaced drill traverses following up on the previous results. Significant mineralisation was intercepted on all drill traverses (Figure 2)
over the 125m of strike drilled with mineralisation remaining open along strike in both personaldirections and at depth.
Mineralisation appears to be associated with quartz-carbonate-hematite-albite-pyrite alteration within hydrothermally altered brecciated sedimentary rocks. The north-south trending steep dipping sedimentary sequence is bounded by granite to the east and west. The geometry of the mineralisation appears to be moderately west dipping within the steeply dipping sedimentary rock sequence (Figure 3), however more work is required to fully understand the controls and geometry of mineralisation.
Significant results achieved in the recent drill program include:
•
•
•
For•
•
•
Area H will be subject to additional drilling early next year as it appears highly likely that a resource will be defined over this area.
2 Refer ASX announcement dated 23 April 2021. The Company is not aware of any new information or data that materially affects the information contained in that announcement.
Page 3 of 18
22 December 2021 ASX Announcement
For personal use only
Figure 2: Plan view showing historical drilling and holes reported in this release with selected
significant results3
3 Refer to ASX announcements 23 April 21 for drilling results. The Company is not aware of any new information or data that materially affects the information contained in those announcements.
Page 4 of 18
22 December 2021
ASX Announcement
use only | |
personal | Figure 3: Area H Section 1428375mN showing historical drilling, holes reported in this release, |
selected significant results4 and interpreted geology. |
WESTERN SPLAY
Western Splay area is defined by co-incident gold auger geochemical anomalies and a geophysical feature approximately 5km to the southwest of the Area A.
Sixteen RC drill holes have previously been drilled over the area, reported 3 April 2017, 21 ForJuly 2020, 28 July 2020, and 23 April 20214. Historical drilling defined a 300m open ended
mineralised structure trending northwest-southeast, results included:
•
•
•
Nine RC drill holes were drilled during the Phase 7 drill program over the northwest end of the previous previously defined mineralised structure (Figure 4). Section line 1426375mN
4 Refer to ASX announcements 23 April 21 for drilling results. The Company is not aware of any new information or data that materially affects the information contained in those announcements.
Page 5 of 18
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Chesser Resources Limited published this content on 21 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 December 2021 22:42:07 UTC.