Chesser hits high grades outside Kestanelik Resource area

THE DRILL SERGEANT: Chesser Resources (ASX: CHZ) has received the third batch of results from a sawcut sampling program being carried out at the company’s Kestanelik gold project in north-western Turkey.

The company said the sampling program is being undertaken with the aim to further define the distribution of near surface high-grade gold mineralisation on the property.

The latest results, which are from outside the current resource area include:

8.9 metres at 12.9 grams per tonne gold, including 3.6 metres at 19.6 g/t gold;

3.1m at 9.5g/t gold; and

1.1m at 14.8g/t gold.

The company said the results are from sawcut samples taken from veins within the K4 and Topyurt South zones at the south of the property.

 

Composite results from sawcut sampling on the K4 vein. Source: Company announcement

 

It explained that they have been designed to extend areas of known mineralisation to the south and southwest of the current resource, where recent geological reviews have highlighted strong potential for additional resource growth.

“These results from the K4 and Topyurt South zones show that high gold grades persist at surface well outside the area of the current resource,” Chesser Resources managing director Dr Rick Valenta said in the company’s announcement to the Australian Securities Exchange.

“It is particularly encouraging as the sampling defined new mineralisation at the Topyurt South vein, only discovered in December 2013.”

Chesser is carrying out additional sawcut sampling on other zones on the property including the Topyurt veins as well as progressing a number of work streams supporting the planned development and expansion of the Kestanelik project.

Work is continuing on a JORC Code-compliant resource update as well as mine, process and tailings design as part of the Kestanelik pre-feasibility study, which Chesser said is progressing on time and on budget.

The company said it is on track to submit a project description for the Kestanelik Environmental Impact Assessment to the relevant Turkish Authorities in the June 2014 quarter.

Email: info@chesserresources.com.au

Website: www.chesserresources.com.au