Kestanelik JORC Mineral Resource Update
Brisbane, Aug 12, 2013 AEST (ABN Newswire) - Chesser Resources Limited (
ASX:CHZ) is pleased to confirm improved project confidence with a maiden Indicated Mineral Resource as part of a significant increase in the total mineral resource for its flagship Kestanelik Gold Project in North Western Turkey. The Company has also updated the previous Scoping Study for Kestanelik based on the updated mineral resource estimate.
The Managing Director of Chesser Resources, Dr Rick Valenta, said "We are extremely pleased with a significant increase of over 50% in gold ounces from the previous mineral resource estimate with a high percentage of the mineral resource located within 50 metres of the surface. The additional drilling has increased our confidence in the presence of the near-surface high grade gold mineralisation and combined with excellent metallurgical results, these positives will form the backbone of a mining and milling operation at Kestanelik. In addition, we have numerous areas both within and outside the current mineral resource which remain open for further resource expansion.
The Scoping Study Update benefits from the presence of multiple high grade zones which should be accessible at a low strip ratio early in the life of the mining operation. A prefeasibility study has commenced based on the favourable outcomes of the Scoping Study Update and will consider a number of alternatives for the development of Kestanelik, including staged development aimed at minimising upfront capital expenditure."
Contact
Chesser Resources
T: +61-7-3369-4000
F: +61-7-3369-4900
E: info@chesserresources.com.au
WWW: www.chesserresources.com.au
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