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Chesapeake Gold Provides Yarely Drilling and Exploration Update
VANCOUVER, British Columbia, Dec. 14, 2017 (GLOBE NEWSWIRE) -- Chesapeake Gold Corp. (“Chesapeake”) (TSX-V:CKG) is pleased to provide an update of the Phase 1 d
About this update from Chesapeake Gold Corp.
[{"type":"text","content":"VANCOUVER, British Columbia, Dec. 14, 2017 (GLOBE NEWSWIRE) -- Chesapeake Gold Corp. (“Chesapeake”) (TSX-V:CKG) is pleased to provide an update of the Phase 1 drilling and district wide exploration program at its regional Yarely project (“Yarely”) in Sinaloa State, Mexico. Yarely is strategically located 10 kilometres from a paved highway and within 25 kilometres of the proposed Metates processing plant site. Metates hosts one of the largest undeveloped gold, silver and zinc reserves in the world and is 100% owned by Chesapeake. During the past year, Chesapeake has assembled a land position of 72,000 contiguous hectares at Yarely. In 2017, a systematic exploration program has been undertaken including geological mapping, rock chip channel sampling and trenching supplemented by an extensive IP/Resistivity geophysics survey. The exploration work has led to the discovery of precious and base metal mineralization hosted within several different deposit types including skarns, veins, disseminated zones, stockwork and breccias. Six separate significant prospects have been defined namely: Central, Loretos, Yasmin, Lucy, Sundae and Los Mimbres. The Phase I 5,000 metre drill program commenced in October. The first drill holes were designed to test the Central Prospect’s large IP anomalies and the Spaniards vein swarm. To date, five core holes totaling 1,200 metres have been completed in the Central Prospect (see attached map and table). Central Prospect The Central Prospect’s southern area hosts four subparallel north-northwest trending stockwork zones over one kilometre in length. These structural corridors bracket a strong northeast trending IP chargeability anomaly several kilometres long and one kilometre wide. Two widely spaced exploratory holes (Y-02 and Y-03) were designed to provide data on the thickness of the stratigraphic units overlying a possible intrusive, the vertical geochemical and rock alterations zonation, the size and shape of potential mineralized bodies, and to determine the mineralogical nature of the IP anomaly. Holes Y-02 and Y-03 were spaced 650 metres apart and are outlined below: Drill hole Y-02 was drilled to intersect the IP chargeability anomaly at less than 300 metres depth. The hole intersected highly altered sandstone, conglomerate and minor siltstone, which have locally converted to hornfels. The b...