Chesapeake Gold Corp. (TSXV: CKG | OTCQX: CHPGF) has made a significant gold discovery at its Lucy Project, located in central Sinaloa, Mexico. In total, 14 holes were completed in the company’s 2023 campaign, with approximately 1,710m drilled. Lucy is one of several regional exploration properties within Chesapeake’s Mexican portfolio.
Alan Pangbourne, CEO, commented, “While Chesapeake’s primary focus has been advancing the metallurgical work and the oxidative leach technology at Metates, we have continued systematic exploration on our highly prospective regional projects. We are very excited about the first phase of drill results at Lucy. The drill results suggest a mineralized skarn that outcrops at surface, and the system has been traced over a strike length of at least 500m. Follow-up exploration is planned to better evaluate the scope and scale of this new discovery.”
Assay Highlights from the 2023 Lucy drilling campaign include; Lucy Long Section A to A’ – Trenches 1, 3, 7, 8, and 10, and drill holes LU23-06, LU23-08, LU23-09, LU23-10, LU23-11, LU23-12, and LU23-13
The Lucy project comprises 483ha and is located within 5km from a paved highway. Lucy was staked by Chesapeake in 2017, and the initial exploration found zinc-bearing skarns to the Northwest. Follow-up mapping, trenching, and channel sampling in 2021 and 2022 identified the presence of a gold-bearing skarn system in the Southeast.
In June 2023, a 1,710m 14-hole HQ core drill programme was initiated to test this gold-bearing skarn system. Holes LU23-05 to LU23-14 were collared over the gold zone defined by trenching and channel sampling. The eight holes discovered a northeast trending zone of skarn at least 500m in strike length with significant gold mineralization. The gold zone remains open along strike in both directions and at depth. The mineralization consists of a possible retrograde quartz-calcite, iron oxides and sulphides veinlets stockwork hosted within garnet skarn and hornfels.
Chesapeake plans to undertake further detailed mapping, rock sampling, and trenching as well as mineralogical and petrographic studies prior to the next phase of drilling. Further exploration and analysis are required to better understand the scope and scale of the Lucy gold-bearing skarn system and the controls on the mineralization. At this early stage of exploration with uncertain geological orientation and limited drilling coverage, the drill intercepts should not be considered representative of the true thickness of the gold mineralization.
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