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Chesapeake Announces Updated Mineral Resource Estimate 15.8% Increase in Gold Grade of Intrusive and Intrusive Breccia Zone
Vancouver, British Columbia--(Newsfile Corp. - February 22, 2023) - Chesapeake Gold Corp. (TSXV: ...
About this update from Chesapeake Gold Corp.
[{"type":"text","content":"Chesapeake Announces Updated Mineral Resource Estimate 15.8% Increase in Gold Grade of Intrusive and Intrusive Breccia ZoneVancouver, British Columbia--(Newsfile Corp. - February 22, 2023) - Chesapeake Gold Corp. (TSXV: CKG) (OTCQX: CHPGF) (\"Chesapeake\" or the \"Company\") is pleased to provide an updated Mineral Resource Estimate (\"MRE\") for its world class, Metates gold-silver project located in Durango State, Mexico.The updated MRE is described in Table 1 below and includes:16.77 million ounces of gold at 0.57 grams per tonne (\"g/t\") and 423.2 million ounces of silver at 14.3 g/t within 921.2 million tonnes in the Measured and Indicated Mineral Resource category.2.13 million ounces of gold at 0.47 g/t and 59.0 million ounces of silver at 13.2 g/t within 139.5 million tonnes in the Inferred Mineral Resource category.Analytical results from 23 recently drilled PQ (85mm diameter) holes completed since March 20214.81 million ounces of gold at 0.76 g/t and 83.8 million ounces of silver at 13.3 g/t within 195.7 million tonnes in the Measured and Indicated Mineral resource category for intrusive-hosted material.Completed umpire duplicate check assaying on historic assay results increasing confidence in the accuracy of the analytical results.Alan Pangbourne, CEO, commented \"We are very pleased to announce our updated MRE for Metates following the addition of assay results for 5 metallurgical and 18 infill drill holes to the existing drill hole database. Particularly encouraging is the confirmation of an increase of 15.8% higher gold grade for the intrusive and intrusive breccia portions of the measured and indicated category of the MRE. The grade increase together with the previously released metallurgical results of our proof of concept further support the PEA development case.\" This updated MRE together with on-going metallurgical work will form the basis of a new Pre-Feasibility Study. Table 1: Metates Mineral Resource StatementTo view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/752/155775_img.jpgNotes: 1. The Mineral Resources have an effective date of January 28, 2023, and the estimate was prepared using the definitions in CIM Definition Standards (May 10, 2014). 2. All figures are rounded to reflect the relative accuracy of the estimate and therefore numbers may not appear to ...