Kestanelik JORC Mineral Resource Update
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."
About Chesser Resources
Chesser Resources Ltd is an ASX-listed Exploration company with a portfolio of gold, copper and nickel properties in South Australia. The company is committed to advancing its existing portfolio while continuing to seek new advanced opportunities.