Chesser encounters further high-grade gold at Kestanelik

THE DRILL SERGEANT: Chesser Resources (ASX: CHZ) has taken receipt of the second batch of results from a 2014 sawcut sampling program at the company’s Kestanelik gold project in north-western Turkey.

Chesser described the aim of the program was to further define the near surface high-grade gold mineralisation at Kestanelik and it will use the results as part of the current resource update, which is due in the June quarter.

“These results from the K zone confirm previous widely spaced surface sampling and demonstrate the strong continuity of near surface high-grade gold mineralisation at Kestanelik,” Chesser Resources managing director Dr Rick Valenta said in the company’s announcement to the Australian Securities Exchange.

“The resource update is proceeding on schedule and these results will provide additional confidence for the near-surface portions of the resource.”

 

Composite results from sawcut sampling on the K1 and K2 vein, within the K zone. Source: Company announcement

 

Chesser said the new assay results are from sawcut samples taken from the K1, K2 and K3 veins within the K zone at the centre of the property, explaining they have been designed to provide a more closely spaced surface sample dataset, which is hoped will improve confidence in the near-surface part of the resource.

Additional sawcut sampling is being carried out on other zones on the property including the K1, K4 and Topyurt veins.

The company is also continuing to progress a number of work streams supporting the planned development and expansion of the Kestanelik project.

These include a detailed rocksaw sampling of all veins, as well as a further phase of drilling for new targets.

This drilling is being planned based on additional drill permits for which the company has received formal notification of approval from the Turkish General Directorate of Forestry.

Work is also continuing on mine, process and tailings design as part of the Kestanelik pre-feasibility study which is on time and on budget.

Chesser said it remains on track to submit the project description for the Kestanelik Environmental Impact Assessment to the relevant Turkish Authorities early in the June 2014 quarter.

Email: info@chesserresources.com.au

Website: www.chesserresources.com.au