Business
Update, broker appointment and options
Update, broker appointment and options.
About this update from Chesterfield Resources Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 6471N\n Chesterfield Resources PLC\n 01 October 2021\n \n \n \n \n Chesterfield Resources / EPIC: CHF / Market: LSE / Sector: Mining\n \n \n \n \n \n 1 October 2021\n \n \n Update, broker appointment and options\n \n \n \n \n \n Chesterfield Resources is pleased to announce that it has now completed its initial field programme on its new Adeline copper exploration project in Labrador, Canada, and that its drilling campaign in Cyprus has been extended. \n \n \n \n \n \n The company's Adeline project in Labrador extends across nearly 300 km2 of an entire sedimentary basin. Over the last 70 years a number of exploration campaigns have discovered over 200 copper shows, on surface or at very shallow depth. Wide scale aerial and ground geophysics surveys have also been conducted. However there has been very little drilling on the project due to the lack of road access.\n \n \n \n \n \n During due diligence and upon completion of the acquisition, Chesterfield conducted a re-evaluation exercise of all historic data using modern techniques and software. This provided the basis for a two month helicopter-supported field study across a number of existing targets, and also delineating some new target areas. The survey focused on mapping and sampling, especially to identify structures that could host commercial deposits. The survey has just been completed and the results are now being compiled and evaluated to design detailed drill programmes.\n \n \n \n \n \n In Cyprus, the company is pleased to report that it has extended its drilling and exploration programme, this is to allow for further testing of some gold encounters. The operational team has also identified a promising waste dump opportunity in the Troodos West licence area. Sampling indicates that it has the potential for an early revenue heap leach project. The project has been named Limni South Gold, and an appraisal programme is being designed.\n \n \n The company is also pleased to announce the appointment of First Equity as co-broker alongside Panmure Gordon. The company was pleased with First Equity's efforts in our recent placement which has left us in a comfortable financial position. \n The group's net cash balance as at 30 June 2021 was £1,504,973. \n \n \n The company \n has agreed to issue certain director...