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Chesapeake Gold Provides Update on Yarely and Tatatila Exploration
VANCOUVER, British Columbia, Dec. 13, 2018 (GLOBE NEWSWIRE) -- Chesapeake Gold Corp. (“Chesapeake” or “Company”) wishes to provide an update on the exploration
About this update from Chesapeake Gold Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, Dec. 13, 2018 (GLOBE NEWSWIRE) -- Chesapeake Gold Corp. (“Chesapeake” or “Company”) wishes to provide an update on the exploration work at its 100% owned Yarely Project (“Yarely”) in Sinaloa State and Tatatila Project (“Tatatila”) in Veracruz State, Mexico. Yarely is located 25 kilometres west of the proposed Metates plant site and encompasses 76,200 hectares. Metates is Chesapeake’s flagship project which hosts one of the largest undeveloped gold, silver and zinc reserves in the world. Tatatila is a district scale project hosting gold-copper skarn mineralization which strategically surrounds Mexican Gold Corp.’s Las Minas project. Yarely Project, Sinaloa In early 2018, a Phase I drill program at Yarely tested three of six known prospects with the drill results and related exploration activities reported in June 2018. The drill program was successful in the discovery of a blind copper-molybdenum porphyry system at Loretos, an extensive near-surface polymetallic skarn at Lucy and a high grade gold-silver vein system at Spaniard-Central. During the second half of 2018, Chesapeake’s focus at Yarely was to explore Los Mimbres and advance the Sundae prospect to the drill stage. In addition, the Company conducted geological reconnaissance in the largely unexplored northeast and southwest areas of Yarely which led to the discovery of the Goyo epithermal prospect. Los Mimbres Prospect Widespread rock chip channel sampling and preliminary geological mapping at Los Mimbres defined a northeast trending vein swarm at least two kilometers long and one kilometer wide, situated within a large regional corridor. Sulfide bearing quartz veins and associated stockwork are mainly hosted within mudstones and intrusive rocks with silver-gold mineralization and occasional base metals. Topographically, the system can be traced for over 200 meters in elevation in an area of moderate relief. The vein swarm remains open particularly to the southwest where higher grades were more evident in the upper levels of the system. Channel sampling of the different veins and stockwork returned the following results: 7 meters of 1.15 g/t gold and 88 g/t silver7 meters of 0.90 g/t gold and 87 g/t silver5 meters of 0.11 g/t gold and 196 g/t silver1 meter of 0.38 g/t gold, 98 g/t silver, 2.42% lead and 1.1% zinc31 meters o...