Chesser Resources CHZ Diamba

Chesser Resources (ASX:CHZ) has released the assay results from an additional 20 holes that were drilled on its Diamba Sud gold project in Senegal where the drill bit was testing other areas of a large geochemical anomaly. And with success, considering the RC drill program encountered high-grade gold mineralization very close to surface. With 4 meters of 2.98 g/t gold and 16 meters at 1.05 g/t gold both starting at a depth of 4 meters, it looks like just scratching the surface at Diamba Sud already yields impressive results.

On top of that the gold encountered at slightly deeper levels (but still very close to surface) also boasts very impressive widths and grades: 4 meters at almost 7 g/t starting at 20 meters down-hole while another hole yielded 6 meters containing almost 7.8 g/t gold starting at a depth of just 39 meters.

The positive exploration results allowed Chesser to raise approximately A$1M at a price of A$0.04 to continue its exploration activities in Senegal, and the proceeds of the financing will be used to fund (a part of) the second phase of the exploration program on Diamba Sud, which will start within the next few weeks.

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