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Chesapeake Gold Commences Drill Program at Yarely Project in Sinaloa State, Mexico
VANCOUVER, British Columbia, Oct. 11, 2017 (GLOBE NEWSWIRE) -- Chesapeake Gold Corp. (“Chesapeake” or the “Company”) (TSX-V:CKG) has commenced a 5,000 metre dia
About this update from Chesapeake Gold Corp.
[{"type":"text","content":"VANCOUVER, British Columbia, Oct. 11, 2017 (GLOBE NEWSWIRE) -- Chesapeake Gold Corp. (“Chesapeake” or the “Company”) (TSX-V:CKG) has commenced a 5,000 metre diamond drill program at its wholly owned Yarely project (“Yarely”) located near the proposed El Paso (Metates) plant site in Sinaloa State, Mexico. Chesapeake controls a 68,000 contiguous hectare land position favorably situated near a paved highway, civil infrastructure and labour. Yarely Highlights Several different deposit types have been defined in six prospects and include skarns, epithermal and mesothermal veins, disseminated zones, stockworks and breccias At the Central and Loretos prospects, 186 kilometres of IP-Resistivity geophysical surveys outlined a “V” shaped chargeability anomaly 6 kilometres long, up to 600 metres wide and over 300 metres deep The “V” shaped IP anomaly is coincident with northwest and northeast trending regional deep seated faults and two mineralized structural corridors The Phase I drill program at Yarely will focus on the Central and Loretos prospects. Drilling will determine the geological characteristics and potential mineralization of the diverse deposit types at depth. Drill results should begin to be released in November. Central Prospect Initial drill holes will test the four subparallel north-northwest trending stockwork structures up to one kilometre in length and associated extensive breccia bodies (see news release dated September 7, 2017). Holes will be drilled to over 200 metres depth targeting these mineralized structural corridors and underlying IP chargeability anomaly that suggests a significant deep sulphide body. The rig will then be moved north to test a swarm of high grade oxide veins exploited during the Spanish Colonial period. Drilling will target sulphide ore shoots below the oxidized zone and to depths of more than 100 metres where the veins intercept the IP geophysical anomaly. Loretos Prospect Three widely spaced exploratory holes are planned to test the west side of the “V” shaped IP anomaly which is over 3 kilometres long and 1 kilometre wide. At Loretos, quartz-carbonate veins and stockworks are hosted in sandstone, conglomerate and limestone. Geophysics has outlined the presence of sulfides possibly related to intrusive hosted mineralization up to 500 metres in depth. Regional District scale exploration ...