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Chesapeake Gold Corp.
Summary
| Project: | Yarely | |
|---|---|---|
| Deposit: | Yarely | |
| Location: | Mexico | |
| Commodities: | Gold-Silver-Copper-Molybdenum | |
| Date: | 6/21/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 21-6-2018: Chesapeake Gold Corp. announces an Exploration/Drilling Update report for its Yarely deposit at the Yarely project. Drilling results incl. 25.0m @ 0.59g/t Au, 22g/t Ag, 0.25% Cu, 1.62% Zn from 12m . Vancouver, British Columbia--(Newsfile Corp. | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Alberto Galicia (Internal) | |
| ABSTRACT: | Vancouver, British Columbia--(Newsfile Corp. - June 21, 2018) - Chesapeake Gold Corp. (TSXV: CKG) ("Chesapeake") wishes to provide an update on the results of the Phase 1 drilling program at its regional Yarely Project ("Yarely") in Sinaloa State, Mexico. Yarely encompasses 72,000 hectares and is strategically located 10 kilometres from a paved highway and within 25 kilometres of the proposed Metates plant site. Metates is Chesapeake's flagship project which hosts one of the largest undeveloped gold, silver and zinc reserves in the world. Chesapeake's primary objective for undertaking property scale exploration at Yarely is to determine whether Yarely could develop into a mineralized camp that would supplement and capitalize on the future development of Metates large mining complex. In 2017, a systematic exploration program identified several different deposit types at Yarely including skarns, veins, porphyry/disseminated zones and stockwork/breccias. To date, six district scale prospects have been identified: Central, Loretos, Lucy, Yasmin, Sundae and Los Mimbres within an area measuring over 20 kilometres E-W and 25 kilometres N-S. In late 2017, a Phase 1 core drill program initially tested the Central and Loretos Prospects (see NR 5-2017). At the Central Prospect, the Spaniard vein swarm was tested by holes Y-05 and Y-06 which returned high grade silver and gold values in narrow veins to a depth of 100 metres. Drilling at Central South and Loretos targeted a large, blind V-shaped IP geophysical anomaly measuring 6 by 1 kilometres. Preliminary drill results suggested the potential of a large skarn-porphyry system at depth. In 2018, the Phase 1 drilling program followed up targeting both the large and intense chargeability anomaly at Loretos and a silver mineralized corridor at Central. In addition, the Lucy polymetallic carbonate replacement and skarn system was drill tested in holes L-01, L-02 and L-03. Delays in drilling and reporting have been caused by permitting issues surrounding the political situation in Mexico during this current election year. | |
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