- Chesapeake Gold Corp. (CKG) provided an updated Mineral Resource Estimate for its Metates gold-silver project located in Durango State, Mexico
- MRE highlights include 6.77 million ounces of gold at 0.57 grams per tonne and 423.2 million ounces of silver at 14.3 g/t in the Measured and Indicated Mineral Resource category
- 2.13 million ounces of gold at 0.47 g/t and 59.0 million ounces of silver at 13.2 g/t in the Inferred Mineral Resource category
- CEO Alan Pangbourne sat down with Coreena Robertson to discuss the news
- Chesapeake is focused on the discovery, acquisition, and development of major gold-silver deposits in North and South America
- Chesapeake Gold Corp. (CKG) opened trading at C$2.00
Chesapeake Gold Corp. (CKG) provided an updated Mineral Resource Estimate for its Metates gold-silver project located in Durango State, Mexico.
Highlights:
- 16.77 million ounces of gold at 0.57 grams per tonne (“g/t”) and 423.2 million ounces of silver at 14.3 g/t within 921.2 million tonnes in the Measured and Indicated Mineral Resource category.
- 2.13 million ounces of gold at 0.47 g/t and 59.0 million ounces of silver at 13.2 g/t within 139.5 million tonnes in the Inferred Mineral Resource category.
- Analytical results from 23 recently drilled PQ (85mm diameter) holes completed since March 2021
- 4.81 million ounces of gold at 0.76 g/t and 83.8 million ounces of silver at 13.3 g/t within 195.7 million tonnes in the Measured and Indicated Mineral resource category for intrusive-hosted material.
- Completed umpire duplicate check assaying on historic assay results, increasing confidence in the accuracy of the analytical results.
CEO Alan Pangbourne sat down with Coreena Robertson to discuss the news.
“We are very pleased to announce our updated MRE for Metates following the addition of assay results for 5 metallurgical and 18 infill drill holes to the existing drill hole database. Particularly encouraging is the confirmation of an increase of 15.8 per cent higher gold grade for the intrusive and intrusive breccia portions of the measured and indicated category of the MRE. The grade increase, together with the previously released metallurgical results of our proof of concept, further supports the PEA development case. Going forward, we are focusing on optimizing the oxidation rate to release the targeted gold and silver recoveries and compiling all the other data required to prepare a Pre-Feasibility Study.”
The updated MRE incorporates an additional 23 holes drilled by Chesapeake since the previous MRE statement. In total, the updated MRE comprises a total of 245 drill holes. “
Chesapeake is focused on the discovery, acquisition, and development of major gold-silver deposits in North and South America. Chesapeake’s flagship asset is the Metates project. The Metates project hosts one of the largest undeveloped gold-silver deposits in the Americas.
Chesapeake Gold Corp. (CKG) opened trading at C$2.00.