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Chesapeake Gold Updates Regional Exploration Program
VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 7, 2017) - Chesapeake Gold Corp. ("Chesapeake") (TSX VENTURE:CKG) is pleased to provide an update on the regio
About this update from Chesapeake Gold Corp.
[{"type":"text","content":"VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 7, 2017) - Chesapeake Gold Corp. (\"Chesapeake\") (TSX VENTURE:CKG) is pleased to provide an update on the regional exploration program conducted near its 100% owned Metates project in Durango and proposed El Paso plant site in Sinaloa States, Mexico. Metates hosts one of the largest undeveloped gold, silver and zinc reserves in the world. Four precious and base metal projects with district scale potential have been identified and systematically advanced in 2016 and 2017. Currently, Chesapeake's regional land position totals more than 85,000 hectares. The four projects are strategically located along a prolifically mineralized corridor that parallels the Pacific coast and lies along the western margin of the Sierra Madre Occidental. Two projects, Yarely and El Paso, are located within 15 kilometers of paved highways and 25 kilometers of the El Paso plant site. Chesapeake believes this highly prospective, under-explored region could develop an organic pipeline of high value projects with potential synergies with the future development of Metates. Yarely, Sinaloa On-going regional reconnaissance northwest of the El Paso plant site has identified a large area of extensive alteration hosting several mineralized hydrothermal systems. A systematic program of geological mapping, trenching, and channel sampling has defined three multi-phase mineralized zones (North, Central and South) within an open corridor over 4 kilometers long and up to 2 kilometers wide. Through staking and acquisition, Chesapeake has assembled a 70,000 hectare land package at Yarely. Yarely North hosts a swarm of north-south trending high grade quartz carbonate epithermal veins hosted within coarse and medium grained sandstone Mapping and sampling has discovered over 100 historical workings from the Spanish Colonial period. The Spaniards mined high grade oxide veins to an average depth of 20 meters which overlies a sulfide zone at depth. Chesapeake has traced 12 veins ranging up to 11 meters in width each with an average strike length of 650 meters. Surface and underground channel samples returned values of 2 meters of 19.5 g/t gold and 505 g/t silver, 11 meters of 1.1 g/t gold and 42 g/t silver, 8 meters of 1.6 g/t gold and 33 g/t silver and 3 meters of 1.1 g/t gold and 805 g/t silver. The vein complex remains ope...