Business
Chesapeake Updates 2019 Exploration Activities
Vancouver, British Columbia--(Newsfile Corp. - March 5, 2019) - Chesapeake Gold Corp. (TSXV: C...
About this update from Chesapeake Gold Corp.
[{"type":"text","content":"Chesapeake Updates 2019 Exploration ActivitiesNew Gold-Silver Prospect Discovered near MetatesVancouver, British Columbia--(Newsfile Corp. - March 5, 2019) - Chesapeake Gold Corp. (TSXV: CKG) (\"Chesapeake\" or \"Company\") is pleased to provide a progress report on its regional exploration programs near its world class Metates Project and the Tatatila Project in Veracruz State, Mexico. Metates hosts one of the largest undeveloped gold, silver and zinc reserves in the world located in Durango State. Tatatila is a district scale project hosting gold-copper skarn mineralization which strategically surrounds Mexican Gold Corp.'s Las Minas project. \"This year our exploration focus will be on the under-explored region surrounding Metates and adjacent areas that would be positively impacted by an operating world class mine. Typically, satellite mineral deposits form clusters around large, world class deposits. Chesapeake's organic project pipeline including new discoveries such as Crisy, would capitalize on the expanded road network and related infrastructure from the future development of Metates\" stated Randy Reifel, President.Crisy Project, DurangoCrisy is a new discovery several kilometers south of Metates. Crisy covers a northwest trending zone of quartz breccia and stockwork over two kilometers long hosted in shales. Gold-silver mineralization is associated with pyrite and arsenopyrite within quartz veinlets and silicified host rock fragments. Three channel samples over a strike length of 500 meters along the northwest trending zone returned 24 meters of 1.5 g/t gold, 13 meters of 1.1 g/t gold and 14 g/t silver and 4 meters of 2.5 g/t gold and 49 g/t silver. In addition, channel samples taken 200 meters apart from an intersecting northeast trending branch of the zone returned 14 meters of 2.0 g/t gold and 43 g/t silver and 10 meters of 1.4 g/t gold and 9 g/t silver. Chesapeake will continue to map and sample both of these gold and silver bearing structures to understand the geologic controls over the higher grade zones and define additional areas of mineralization. Cerro Pelon Project, DurangoCerro Pelon is located 20 kilometers east of Metates and was discovered during regional reconnaissance. Cerro Pelon hosts intermediate sulfidation quartz veins and stockwork along a north-northwest structural corridor three kilometers by ...