Chesser Resources reports high-grade results from Diamba Sud gold project

Chesser Resources ASX CHZ Diamba Sud project gold Senegal
Chesser Resources intersected 21m at 6.62g/t gold from 53m at Diamba Sud.

A recently-completed phase two drilling program by Chesser Resources (ASX: CHZ) at its flagship Diamba Sud gold project in eastern Senegal has returned up to 9.53 grams per tonne gold.

Six reverse circulation holes were drilled along Line A of the project’s Northern Arc target to test an area immediately adjoining significant intercepts encountered earlier this year during phase once, including 12m at 3.65g/t gold, 11m at 3.54g/t gold and 5m at 3.18 g/t gold.

The holes were designed to confirm the orientation of the host structure and were drilled to depths of between 81m and 129m.

The holes successfully intersected gold mineralisation in predominantly fresh rock associated with multiple apparent, easterly-dipping zones.

Notable phase two intersections included 21m at 6.62g/t gold from 53m; 4m at 3.44g/t gold from 76m; and 14m at 9.53g/t gold.

The gold is believed to be related to pyrite mineralisation within brecciated rocks, typically felsic intrusives, with marked potassic alteration and consistent with observations from phase one drilling.

Further exploration, including a diamond drilling campaign, will be carried out to confirm the significance of the new gold discovery.

Priority target

At Line F of the Northern Arc target, five reverse circulation holes were drilled to test for extensions to the gold mineralisation from phase one including intercepts of 6m at 4.7g/t gold, 19m at 1.49g/t gold and 4m at 6.51g/t gold.

Four of the holes intersected gold mineralisation at shallow depths near or within fresh rock.

Chesser said the holes lie to the east of a north-trending induced polarisation conductivity feature which “may be indicative of a deeper weathering profile associated with a structure”.

With individual grades of up to 5.35g/t gold and further wide, lower-grade intersections encountered during phase two, the area remains a high priority target.

A further three holes were drilled at the Western Flank target adjacent to a previous assay of 6m at 7.79g/t gold.

The holes intersected breccia with sulphides (pyrite) corresponding to the interpreted position of a splay structure, but failed to return any elevated gold grades.

A full review of the exploration results will conducted before end September, with drilling expected to resume in October.

High-grade mineralisation

Covering 53.2 square kilometres of the gold-bearing Kedougou-Kenieba Inlier, Diamba Sud consists of two blocks referred to as DS1 in the north and DS2 in the south.

The project is located approximately 2km west of the Senegal Mali Shear Zone – a major regional structure and host to numerous giant gold deposits including B2Gold’s 7.6 million ounce Fekola mine; Barrick Gold’s 18Moz Loulo-Gounkoto complex; and IAMGold’s Sadiola and Yatela mines.

The project’s Northern Arc and Western Flank targets are believed to exhibit similar geological characteristics to these deposits, particularly high-grade gold mineralisation associated with pyrite and strong alteration.

Chesser said its drilling campaigns at Diamba Sud have been designed to test previously-identified, high-grade gold auger anomalies and better understand the style, nature, potential host and controls on mineralisation.

At midday, shares in Chesser were up 27.50% to $0.051.