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Chesapeake Gold Provides Update on Yarely Regional Exploration Program
VANCOUVER, British Columbia, Sept. 07, 2017 (GLOBE NEWSWIRE) -- Chesapeake Gold Corp. (TSX-V:CKG) (“Chesapeake”) is pleased to provide an exploration update for
About this update from Chesapeake Gold Corp.
[{"type":"text","content":"VANCOUVER, British Columbia, Sept. 07, 2017 (GLOBE NEWSWIRE) -- Chesapeake Gold Corp. (TSX-V:CKG) (“Chesapeake”) is pleased to provide an exploration update for its regional Yarely project (“Yarely”) near the proposed El Paso (Metates) plant site in Sinaloa State, Mexico. Chesapeake owns a 100% interest in Metates which hosts one of the largest undeveloped gold, silver and zinc reserves in the world. During the past year, Chesapeake has assembled a land position of 68,000 contiguous hectares at Yarely. The district is strategically located 10 kilometres from a paved highway and within 25 kilometres of the El Paso plant site. Yarely is situated in a prolifically mineralized belt that parallels the Pacific Coast and lies along the western margin of the Sierra Madre Occidental within Sinaloa state. The Yarely district is very prospective for precious and base metal mineralization hosted within several different deposit types including skarns, epithermal veins, disseminated stockwork zones and breccias. A systematic program of geological mapping, rock chip channel sampling and trenching supplemented by IP geophysics has defined six significant prospects. Exploration Highlights 186 kilometres of Induced Polarization (IP)-Resistivity geophysical surveys defined a “V” shaped IP anomaly measuring 6 kilometres in length, up to 600 metres wide and over 300 metres in depth The “V” shaped IP anomaly is coincident with two mineralized structural corridors and concordant with the intersection of two regional deep seated faults 16 kilometres of mechanized trenching and 2,500 rock samples collected and assayed for multiple elements District-scale exploration continues to discover precious metal and polymetallic mineralized systems over an expanded area of 500 square kilometres. Fall Drilling Within 3-4 weeks a Phase 1 diamond drill program will commence on the Central and Loretos prospects. The 5,000 metre drill program will test the “V” shaped IP anomaly at depth. Drilling will target the potential for large disseminated stockwork and hydrothermal breccia bodies developed along the two major structural corridors mineralized on surface. Figure 1. Yarely Project Location Map Central Prospect The Central prospect occupies a northwest to northeast trending corridor 4 kilometres long and 1 kilometre wide with three different minerali...