Chesser Resources Limited (ASX:CHZ) has been granted two important new tenements in Senegal, West Africa.
Bondala and Mourichou
The new Bondala license (total area of 207 sq. km) significantly increases the landholding adjacent to and around the Diamba Sud gold project.
Bondala is contiguous to the north of the Diamba Sud tenement covering an area of highly prospective Falémé group rocks and surrounds the 0.5Moz Karakaene deposit immediately to the west of Diamba Sud.
The Bondala license also covers an area along strike of the 1Moz Makabingui mineralisation, including the northern tenement area.
The new Mourichou license (total area of 431 sq. km2) covers an extensive area of Mako series rocks and is located near the Sabodala shear zone and close to Chesser’s Diamba Nord Project tenements.
Each tenement is valid for a period of 10 years with an initial term of 4 years and renewable for a further two periods of three years each. There is a 25% relinquishment requirement at each renewal.
Chesser’s total tenement position in Senegal has now expanded by more than threefold to 872 sq. km.
Drilling Underway
Meanwhile, drilling has commenced at the new discovery area – Karakara (formerly Area H) as part of the next drill campaign with results expected to be received from April 2022, while Scoping Study results (Area A and Area D) are due to be released in March 2022.
“Drilling has commenced at Karakara as part of a larger drilling campaign to add resources and further test the significant emerging potential of the Diamba Sud Project,” MD and CEO, Andrew Grove, said.
“Karakara is shaping up to be a very exciting new discovery and we expect to deliver the first drilling results early next quarter. The Scoping Study is progressing well with results due next month and we look forward to demonstrating the significant value inherent in the high grade, near surface mineralisation identified to date.
“We are also very pleased with the grant of the new tenements which adds significantly to land position in Senegal and covers some highly prospective geological terrains especially adjacent to our Diamba Sud tenement.
“Exploration planning is underway on how best to evaluate these new tenements and we expect to generate new targets and hopefully new discoveries in the future from these areas.”
For further information please visit: https://www.chesserresources.com.au/
