Drill Programme Highlights Include 432m Of 1.80 g/t
Chesapeake Gold Corp. (TSXV:CKG, OTCQX:CHPGF) has obtained better than expected results from five large diameter (PQ or 88 mm) core drill holes completed at its flagship Metates project in Durango, Mexico.
CEO, Alan Pangbourne, said the drill programme was undertaken to provide new core intercepts for a comprehensive metallurgical testwork programme and to confirm the higher-grade nature of the Metates intrusive hosted mineralisation.
“The drill results from Metates are higher than expected further supporting our thesis that within the world class deposit, a higher-grade component exists from which we can build a foundation for a new mine plan,” Mr Pangbourne said. “We look forward to completing ongoing efforts to re-scope and optimise this impressive project.
“The assay results on average are over 18% higher than the comparable block model gold equivalent grades in the current resource model.
“Two of the five holes are the best ever holes drilled at Metates and four are in the previous top 20 based on a grade – thickness product.
“The new drill assays will be integrated into a new mineral resource estimate along with the metallurgical test results which we anticipate completing with the prefeasibility study supporting the proposed heap leaching processing option in 2022.”
All five drill holes targeted the intrusive hosted mineralisation. The holes also confirmed the anticipated as-modelled contacts and rock types intercepted in each hole including the intrusive and sediment contacts and limits of mineralisation.
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