Business
New Licence Applications, Planning and Update
New Licence Applications, Planning and Update.
About this update from Chesterfield Resources Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 8532B\n Chesterfield Resources PLC\n 13 October 2020\n \n \n \n \n Chesterfield Resources / EPIC: CHF / Market: LSE / Sector: Mining\n \n \n \n \n \n 13 October 2020\n \n \n Chesterfield Resources Plc\n \n \n \n \n \n New Troodos West licence applications, operational growth planning and update\n \n \n \n \n \n Chesterfield Resources plc is pleased to announce that it is increasing its portfolio of exploration permits at its Troodos West licence package. In addition to the two new licences granted so far this year, Filousa and Lysos-Kinousa, the company has now applied for two more licenses to expand its exploration footprint in the area. \n \n \n \n \n \n Chesterfield is actively managing its licence packages both to optimise the prospectivity of its search areas while also avoiding carrying unnecessary rental costs. After an initial exploration assessment of its Troodos East licence area, the company has decided to let this licence lapse. Similarly, some land has been conceded in Troodos North. \n \n \n \n \n \n The company now holds licences granted over a total area of 51.1\n \n km2\n at Troodos West, with a further 6.5 \n km2\n under application. The area covered by licences granted at Troodos West has now grown by nearly 60% since the business was acquired by the company in 2018. Licences granted totalling 30.6 \n km2\n are held at the Discovery South exploration area and 12.5\n km2\n at Troodos North, giving a portfolio covering in total 94 \n km2\n (with the potential to increase this to over 100 \n km2\n subject to the granting of the new applications at Troodos West). Updated maps of company's licence areas can be found on the company website under \"operations\", \"permits and targets\". \n \n \n \n \n \n The overall impact of these land package changes is a greater emphasis on Troodos West as Chesterfield prepares for the next stage of its exploration and development programme in 2021. The company also plans commence new phases of exploration work at the other two licence areas next year. \n \n \n \n \n \n As part of its planning and growth management, the company has decided that it will be necessary to recruit a full time Chief Operating Officer for its projects in Cyprus for 2021 and beyond. Once the current diamond drill campaign...