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Chesapeake Options Gold-Silver Project near Tayoltita, Mexico
Vancouver, British Columbia--(Newsfile Corp. - March 3, 2020) - Chesapeake Gold Corp. (TSXV: C...
About this update from Chesapeake Gold Corp.
[{"type":"text","content":"Chesapeake Options Gold-Silver Project near Tayoltita, MexicoVancouver, British Columbia--(Newsfile Corp. - March 3, 2020) - Chesapeake Gold Corp. (TSXV: CKG) (OTCQX: CHPGF) (\"Chesapeake\" or the \"Company\") is pleased to announce an option to acquire a 100% interest in the El Duraznito gold-silver project (\"El Duraznito\") located near the town of Tayoltita in Durango State, Mexico. Regional reconnaissance identified El Duraznito and follow up grassroots exploration generated impressive results. El Duraznito is located about 18 kilometers east of First Majestic Silver Corp.'s San Dimas Mine (\"San Dimas\").San Dimas and El Duraznito are located within an area of complex normal faulting along the western edge of the Sierra Madre Occidental. San Dimas is one of the most productive gold-silver districts in Mexico and has been in continuous production for over 250 years. The low sulfidation epithermal quartz veins at San Dimas have been mined for several kilometers along strike and with vertically zoned productive horizons extending for several hundreds of meters.The San Dimas District is transected by multiple structural blocks defined by large-scale NNW-trending faults with significant vertical movement which have acted to preserve the mineralized veins. El Duraznito is situated within a large structural block east of San Dimas where quartz veins are exposed with the intervening ground covered by thick post-mineral volcanic rocks. Mineralization at El Duraznito consists of a series of en-echelon ENE-SSW trending quartz and quartz-breccia veins that have been traced over 1500 meters along strike and 300 meters vertically. The quartz breccia structures appear to be subparallel and similar to regional structures being actively mined at San Dimas. As at San Dimas, the mineralized zones at El Duraznito comprise low sulfidation epithermal quartz veins, breccia and stockwork hosted within zones of altered and silicified andesitic and rhyodacitic volcanic rocks. Chesapeake has mapped and collected rock chip channel samples from two subparallel quartz and quartz breccia vein structures that have been traced for over 500 meters along strike. Channel samples from the quartz breccia and stockwork zones returned the following significant results:45 meters of 1.6 g/t gold and 16 g/t silver30 meters of 3.9 g/t gold and 48 g/t silver23 meters...