Ch­e­sa­peake Gold be­gins 5,000-me­tre drilling at Yarely

Stockwatch Daily - - MINES & METALS - Mr. Randy Reifel re­ports

CH­E­SA­PEAKE GOLD Corp. has com­menced a 5,000me­tre di­a­mond drill pro­gram at its wholly owned Yarely pro­ject, lo­cated near the pro­posed El Paso (Me­tates) plant site in Si­naloa state, Mex­ico. Ch­e­sa­peake con­trols a 68,000-con­tigu­ous-hectare land po­si­tion favourably sit­u­ated near a paved high­way, civil in­fra­struc­ture and labour.

Yarely high­lights:

• Sev­eral dif­fer­ent de­posit types have been de­fined in six prospects and in­clude skarns, ep­ither­mal and mesother­mal veins, dis­sem­i­nated zones, stock­works, and brec­cias.

• At the Cen­tral and Lore­tos prospects, 186 kilo­me­tres of IP (in­duced po­lar­iza­tion) re­sis­tiv­ity geo­phys­i­cal sur­veys out­lined a V-shaped charge­abil­ity anom­aly six kilo­me­tres long, up to 600 me­tres wide and over 300 me­tres deep.

• The V-shaped IP anom­aly is co­in­ci­dent with north­we­s­tand north­east-trend­ing regional deep-seated faults and two min­er­al­ized struc­tural cor­ri­dors.

The phase I drill pro­gram at Yarely will fo­cus on the Cen­tral and Lore­tos prospects. Drilling will de­ter­mine the ge­o­log­i­cal char­ac­ter­is­tics and po­ten­tial min­er­al­iza­tion of the di­verse de­posit types at depth. Drill re­sults should be­gin to be re­leased in Novem­ber.

Cen­tral prospect

Ini­tial drill holes will test the four sub­par­al­lel north-north­west-trend­ing stock­work struc­tures up to one kilo­me­tre in length and as­so­ci­ated ex­ten­sive brec­cia bod­ies (see news re­lease dated Sept. 7, 2017). Holes will be drilled to a depth of over 200 me­tres, tar­get­ing these min­er­al­ized struc­tural cor­ri­dors and un­der­ly­ing IP charge­abil­ity anom­aly that sug­gest a sig­nif­i­cant deep sul­phide body. The rig will then be moved north to test a swarm of high-grade ox­ide veins ex­ploited dur­ing the Span­ish colo­nial pe­riod. Drilling will tar­get sul­phide ore shoots be­low the ox­i­dized zone and to depths of more than 100 me­tres where the veins in­ter­sect the IP geo­phys­i­cal anom­aly.

Lore­tos prospect

Three widely spaced ex­ploratory holes are planned to test the west side of the V-shaped IP anom­aly, which is over three kilo­me­tres long and one kilo­me­tre wide. At Lore­tos, quartz-car­bon­ate veins and stock­works are hosted in sand­stone, con­glom­er­ate and lime­stone. Geo­physics have out­lined the pres­ence of sul­phides pos­si­bly re­lated to in­tru­sive-hosted min­er­al­iza­tion up to 500 me­tres in depth.

Regional

Dis­trict-scale ex­plo­ration con­tin­ues at the Yarely pro­ject through de­tailed ge­o­logic map­ping, soil and rock geo­chem­istry, trench­ing and IP re­sis­tiv­ity geo­phys­i­cal sur­veys. The Yas­min, Lucy, Sun­dae and Los Mim­bres prospects are be­ing sys­tem­at­i­cally ad­vanced to the drill stage. A phase II drill pro­gram is planned in 2018 to be­gin test­ing these prospects.

Al­berto Gali­cia, PGeo, vice-pres­i­dent of ex­plo­ration for Ch­e­sa­peake and a qual­i­fied per­son as de­fined by National In­stru­ment 43-101, has re­viewed the tech­ni­cal in­for­ma­tion in this re­lease.

We seek Safe Har­bor.

Daniel James Kunz, Lian Li, John Per­ston, Peter Randy Reifel, Gre­gory D Smith, Ger­ald L Sned­don

(CKG) Shares: 44,555,116

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