Overview of Projects
Chesser’s exploration activities are currently focused on three main properties: Kestanelik, Karaayi and Sisorta.
The Kestanelik property consists of a series of epithermal quartz vein zones of up to 28 metres true thickness, with a total strike length of more than 21 kilometres, the major proportion of these veins remain totally untested by drilling. Some 18 kilometres of veins are covered by a post-mineral sequence of sediments, volcanics and alluvium. Mineralisation on the property is typical of low-sulphidation epithermal vein systems, examples of which include Vera Nancy in Queensland (North Queensland Metals) and the Cerro Negro in Argentina, recently acquired by Canada’s Goldcorp Inc. the veins at Kestanelik are up to 30 metres wide, and have returned a significant number of wide drill intersections at greater than 10g/t Au.
The Karaayi prospect contains a known and previously drilled porphyry gold-copper prospect. The main prospect area has been tested by the previous owner with 28 drillholes (21 RC and 7 diamond), with best drill intersections of 115.5 metres at 0.52 g/t gold and 87.1 metres at 0.62 g/t gold. In 2010, Chesser carried out a program of detailed mapping, soil sampling, IP and magnetic surveys. This work resulted in the identification of a number of previously unrecognised, and untested strong anomalies, for both bulk-tonnage porphyry copper-gold and epithermal gold mineralisation. The surveys identified areas of high-chargeability and co-incident anomalous soil samples, which indicate kilometres of untested potential in this area.
The Sisorta property is a volcanic-hosted high sulphidation epithermal project, in which drilling has enabled an Indicated Resource of 3.17 Mt at 0.9 g/t Au (91,000 ounces) and an Inferred Resource of 11.38Mt @ 0.6g/t Au (212,000 ounces) for a total of 303,000 ounces at a 0.40 g/t Au cut-off. Of this resource, 223,000oz occurs in oxide material, most of which occurs at a depth of fifty metres or less. Chesser has earned a 51 percent interest in this Project from the underlying owner Eurasian Minerals Inc.
Chesser has been active in building up a portfolio of exploration properties and others comprise Catak, Domu, Saphane, Kabatas, Topcam all of which are owned 100 per cent. The targets are predominantly gold and copper targets with known mineral occurrences and historical soil and rock geochemical anomalies. To assist in the timely exploration of these properties Chesser is seeking partners to come in and evaluate these prospects.