Chesterfield Resources (CHF.L) is re-commencing its percussion drill campaign on the Troodos West project in Cypruse after the initial drill results provided the required proof of concept to the company’s geologists. The initial round of percussion drilling indeed encountered the desired sulphide mineralization in the first three targets (over an initially small strike length of 140 meters) and the technical team will now restart the percussion drill program to gather more data in anticipation of a diamond drill program.
The company appears to be sufficiently confident in the Evlim exploration target hosting a VMS target and 1,000 meters of diamond drilling has been earmarked to drill-test the theory based on the percussion drill results. A second tranche of 1,000 meters of diamond drilling will be focusing on other targets on the Troodos license. As Chesterfield has approximately 30 VMS targets within a 3 mile radius from Troodos, there should be no shortage of ideas to position the drill rig.
Disclosure: The author has no position in Chesterfield Resources