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Chesser Resources

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Diamba Sud (100%)

The Diamba Sud project covers 53.2km2 and lies within the highly prospective Senegal Mali Shear Zone orogenic belt. The Project is located 12km southwest of Barrick’s Loulo mine (12.5 million ounces) and only 7km west of Barrick’s Gounkoto mine (5.5 million ounces), both across the border in Mali.

Chesser acquired the Diamba Sud Project in 2017 and since then a large high-grade auger gold geochemical anomaly has been defined. Drilling to date has resulted in two shallow high-grade gold discoveries at Area A and Area D.

Extensive drilling has been undertaken on these discoveries to define the controls and size of these mineralised systems and a robust maiden mineral resource published in November 2021 containing 781koz @ 1.6g/t gold including ⁓500koz @ 3.0g/t gold. Chesser believes there is significant resource growth potential with resources open along strike and at depth. 

 Resource attributes include:

  • High-grade ounces: 493koz @ 3.0g/t gold at a 1.5g/t cut-off or 692koz @ 2.0g/t gold at a 0.8g/t cut-off
  • Shallow mineralisation: 95% of the ounces within 135m of the surface and 40% of the ounces occur within the near surface oxide mineralisation
  • High confidence Resource: 69% of the ounces falling within the Indicated classification
  • Robust Resources: 737koz falling within a US$1,500/oz gold price pit shell and 656koz falling within a US$1,350/oz gold price pit shell
  • Significant Resource growth potential: mineralisation open along strike and at depth plus numerous exploration targets on the tenement

 

Disclaimer and warranties

The content on this file is provided in good faith on an “as is” basis for general information. Chesser takes reasonable care to ensure that the content is accurate at the time of publication, however, there may be inadvertent and occasional errors or omissions. Chesser takes no responsibility for any error or omission relating to data.       Warranties: Chesser does not guarantee or warrant the accuracy, adequacy or completeness of Content. All Content is provided on an “as is” basis and without guarantees or warranties of any kind, either express or implied. All terms implied by law, except those that cannot be lawfully excluded, are excluded.   Intercepts calculated as per the the JORC Table Section 2 at the time of each release: Intervals were generally reported using a threshold where the interval has a 1.0 g/t Au average or greater over the sample interval and selects all material greater than 0.35 g/t Au, with maximum of 2m of continuous internal dilution. At some point during the reporting period material selected was greater than 0.5g/t. Where voids (no sample) occurred within reported intervals, a grade of zero was assigned to that portion of the reported sample interval. There are a few intervals where calculation deviates from this methodology and noted on the relevant intercept.   A top grade cut off of 100 g/t Au, based on detection limits, been applied to results presented.

Click here to download data

Download Publicly Released Drillhole Intercept Database

 
 

 

 
 
 

Figure 1: Diamba Sud plan view showing historical drilling, selected significant results, gold auger geochemical anomalies and target for drilling. 

 
 
 

Figure 2: Diamba Sud Project Location.

 

Diamba Sud Mineral Resources

Classification Tonnes 
Mt
Grade
g/t Au
Metal
koz
Total
%
Indicated 8.8 1.9 538 69%
Inferred 6.4 1.2 243 31%
TOTAL 15.2 1.6 781 100%

 

Diamba Sud Mineral Resources

Resources Constrained within US$1,800/oz pit shell by Material Type and Classification – COG 0.5g/t
Classification   Indicated     Inferred     Total  
Oxidation Tonnes
Mt
Grade
g/t
Metal
Koz
Tonnes
Mt
Grade
g/t
Metal
Koz
Tonnes
Mt

Grade
g/t

Metal
Koz
Oxide 3.7 2.2 262 1.3 1.2 50 5.0 2.0 312
Fresh 5.1 1.7 276 5.1 1.2 194 10.3 1.4 469
Total 8.8 1.9 538 6.4 1.2 243 15.2 1.6 781

 

Diamba Sud Grade/Tonnage within US$1,800/oz pit shell

COG
g/t Au
Tonnes 
Mt
Grade
g/t Au
Metal
koz
Indicated
%
0 60.1 0.5 933 65%
0.3 20.1 1.3 842 67%
0.5 15.2 1.6 781 69%
0.8 10.9 2.0 692 71%
1 8.6 2.3 628 73%
1.5 5.2 3.0 493 80%
2 3.4 3.6 393 84%

 

Diamba Sud Mineral Resources within various US$/oz pit shells at COG 0.5g/t gold

Pit
US$/oz
Tonnes 
Mt
Grade
g/t Au
Metal
koz
Indicated
%
Strip ratio
t:t
$1,350 11.2 1.8 656 75% 2.7
$1,500 13.7 1.7 737 72% 2.9
$1,800 15.2 1.6 781 69% 3.0
$2,000 16.0 1.6 802 67% 3.0

 

Note

Resources reported within a US$1,800/oz gold price pit shell and at a cut-off grade of 0.5g/t gold

Figures are rounded and reported to appropriate significant figures to reflect the level of confidence

For full details refer to the ASX release dated 16 November 2021

Diamba Sud Mineral Resource 3D image of Resources (blocks > 0.5g/t) in US$1,800/oz gold pit shell

 

Drilling, geochemistry and geophysics have identified numerous geochemical and structural targets on the Diamba Sud tenement, like Southern Arc, Area H, Line F and Western Splay, that will be the subject of ongoing exploration activities during 2022.

Diamba Sud shares the following four key characteristics to the neighbouring world class gold mines; Fekola and Gounkoto:

  1. High-grade gold associated with,
  2. Strong alteration in,
  3. Sedimentary host rocks, and
  4. Dominant structural control parallel to the splay of the main Mali Senegal Shear Zone.

Surrounding Diamba Sud, Barrick is undertaking extensive exploration on their Kabewest Project (Bambadji JV), 2-3km northeast of Area A and just over the tenement boundary. Kabewest mineralisation, alteration, structures, and host rocks appear identical to those at Area A. On the western tenement boundary AfriGold, a private enterprise, is mining on a semi-industrial scale their Karakaene 0.5Moz deposit which appears to be hosted within northwest trending structures.

50km to the south, IAMGold owns the 2.6Moz Boto Gold Project on which a positive definitive feasibility study has been completed and the Exploitation Permit was granted on 23 December 2020. IAMGold is also actively exploring in the region on their own ground or under joint venture with Oriole Resources on the Senala JV.

 
 

Area D

Area D oxide mineralisation forms a 20-40 m thick blanket of high-grade mineralisation, with gold mineralisation grading up to 100 g/t gold. Oxide mineralisation is bound to the SE by the NE trending fault that separates Area A and Area D. Oxide mineralisation trends in a NW direction possibly influenced by structures in that direction. Drilling to date has defined a strike length of over 400m in the NE-SW and NW directions.

Mineralisation below the high-grade oxide appears to be associated with two controls:

  • The NE-SW trending fault exhibits as high-grade intercepts in brecciated mineralised sediments and has been intersected by a number of diamond drill holes along strike.
  • A broad stockwork breccia zone in carbonate dominated lithologies, which act as a brittle definition zone and may also be influenced by the northwest structures.

The deepest drilling is only 150m vertical and additional drilling is required to fully understand the nature and extent of this mineralisation but represents a significant exploration target. The high-grade oxide mineralisation at Area D will supply very high margin, low strip ratio, free dig, ore feed for any future mining operation.

Area A

Area A, is a structurally controlled mineralised system with a NE-SW control being dominant. Two parallel mineralised structures have been defined to date. There is also a possible orthogonal NW-SE dilatational structure.

Mineralisation tends to favour the sedimentary units and there is only minimal oxide mineralisation at Area A.

Intense iron-carbonate alteration indicates significant fluid flow through the rocks and exhibits similar characteristics to other deposits on the Senegal Mali Shear Zone like Gounkoto and Fekola. The structures, alteration and host lithologies are identical to those being intersected by Barrick at their Kabewest prospect 2-3km along strike to the northeast. Mineralisation below the high-grade oxide appears to be associated with two controls.

 
 

Exploration activities undertaken on Diamba Sud

 
Drilling Phases Years  
Historical Pre-2017 RC drilling – 9 holes for 651m
Auger Drilling 2018 3 Phases
Phase 1. 400m x 100m – 1,651 holes
Phase 2. 200m x 50m – 1,160 holes
Phase 3. 400m x 25m – 75 holes
Phase 1 2019 RC drilling – 70 holes for 4,671m
Phase 2 2019 RC drilling – 26 holes for 2,873m IP Survey
Phase 3 2019-2020 RC drilling – 24 holes for 2,535m Diamond drilling – 13 holes for 2,035m
Phase 4 2020 RC drilling – 42 holes for 4,024m
Phase 5 2020-2021 RC drilling – 110 holes for 15,452m Diamond drilling – 21 holes for 4,147m
Phase 6 2021 RC drilling – 31 holes for 5,164m Diamond drilling – 34 holes for 4,393m
Phase 7 2021 RC drilling 33 holes for 4,178m
 
 

Regional Geology

The Diamba Sud exploration permit is located within the highly prospective Kédougou-Kéniéba Inlier which forms part of the Paleoproterozoic age Birimian Terrane of the West African Craton. Over 35 million ounces of gold has been discovered over the last 20 years within this inlier. The permit lies within the felsic volcanics and sediments of the Faleme Series, bound by the sediment-dominated Diale-Dalema Supergroup to the west and the SMSZ and the Kofi Series to the east.

The Faleme and Diale-Dalema supracrustal sequences are intruded by a series of variably deformed granitoid intrusions. Lithologies in the region are affected mainly by lower green schist grade metamorphism.

 

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