Chesser drills Turkish delights

THE DRILL SERGEANT: Chesser Resources has received the latest results from its current 30,000 metre drill program being carried out at the Kestanelik project in western Turkey.

The company’s aim is to complete the drilling required to estimate a JORC resource for the already-drilled high-grade veins at Kestanelik (Karakovan, K1, K2, K3 and KS).

Chesser is also continuing to test and drill other high priority drill targets on the property to JORC resource status.

The company intends to complete at least 30,000 metres of drilling on the property during the current financial year.

“We are continuing to build the extent of high grade mineralisation at Kestanelik,” Chesser Resources managing director Dr Rick Valenta said in the company’s announcement to the Australian Securities Exchange.

“The new result in KERC-44 comes from a scout hole, and is the highest grade intercept to date on the property. It is from a zone first recognised in our geophysical surveys, and once again highlights the untapped potential of the property.

“We will follow up this new zone as aggressively as we can.

“The new assay result from the K1 vein is also exciting, and has started to show clearly that it has the potential to contribute significantly to the resource, and given us strong indications of the likely position of additional high grade mineralisation on the structure.”

Chesser has now received results for the first thirteen holes of the program, as well as partial results from a program of sampling of all unsampled intervals from previous 2010 and 2011 drilling.

Additional results are reported from stepouts on the K1 vein, as well as from the K2 vein, the Meydan zone, and additional scout drill targets.

At the K1 vein additional results were received from analysis of previously un-sampled intervals from the 2010 drill program, including assays which upgraded a previously reported interval of moderate gold grade.

The complete sampling of the hole has increased the valuable intercept by 11.5 metres at a higher grade, to an interval of:

–    15.8 metres at 5.7 grams per tonne gold and 2.23 grams per tonne silver from 13.5 metres, including 2.5 metres at 26.9 grams per tonne gold and 8.3 grams per tonne silver from 16 metres.

Additional drill results were also received from reverse circulation holes on the Meydan zone.

Assay results have now been received from two attempted drillholes in the area of good surface high grade values including:

–    18 metres of 1.1 g/t gold and 0.7 g/t silver; and

–    18 metres at 1.4 g/t gold and 2.0 g/t silver from surface, including one metre at 8.26 g/t gold and 19.1 g/t silver.