Chesapeake Gold Mobilizes Drill Program at Metates Project
Chesapeake Gold Mobilizes Drill Program at
Metates Project
Vancouver, British Columbia--(Newsfile Corp. - March 16, 2021) - Chesapeake Gold Corp. (TSXV:
CKG) (OTCQX: CHPGF) ("
Chesapeake
" or the "
Company
"), is pleased to announce that it has
received the final permits from the local authorities to commence a bulk drilling program at the Metates
gold-silver project located in Durango State, Mexico. Chesapeake plans to drill approximately 2,500
meters to recover 10 tonnes of large diameter core (PQ) to undertake metallurgical testwork in support
of a potential sulphide heap leach mine operation. Major Drilling has commenced mobilizing to site this
week.
Alan Pangbourne, CEO of Chesapeake commented: "We are pleased to get the drill program underway
and look forward to conducting extensive metallurgical testwork on fresh core over the next 18 to 24
months to analyze the metallurgical response of the Metates ore to the heap leach technology. The
metallurgical program follows preliminary diagnostic testwork conducted on Metates ore and will help
provide guidance on our final commercial scale project design parameters, with respect to target ore
oxidation levels, reagent consumption, gold and silver recoveries and oxidation cycles.
Positive test
results will significantly de-risk and improve the economic viability of one of the largest, undeveloped Tier
1 gold-silver deposits in the world today."
About Chesapeake
Chesapeake Gold Corp. is focused on the discovery, acquisition and development of major gold-silver
deposits in North and South America. Chesapeake's flagship asset is the Metates project ("Metates")
located in Durango State, Mexico. Metates hosts one of the largest undeveloped gold-silver-zinc
deposits in the Americas with over 18 million ounces of gold and 500 million ounces of silver.
Chesapeake also has developed an organic pipeline of satellite exploration properties strategically
located near Metates. In addition, the Company owns 74% of Gunpoint Exploration Ltd. ("Gunpoint")
which owns the Talapoosa gold project in Nevada.
For Further Information:
For more information on Chesapeake and its Metates Project, please visit our website at
www.chesapeakegold.com
or contact Alan Pangbourne at
.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
news release.
Forward-looking Statements
This news release contains "forward-looking information". Forward-looking statements are based on the
opinions and estimates of management as of the date such statements are made and are based on
various assumptions.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may
cause the actual results, performance or achievements of the Company to be materially different from
any future results, performance or achievements expressed or implied by the forward-looking
statements. Such factors include, among others, the successful integration of the Alderley transaction,
the successful application of the Technology to the Metates project, general business, economic,
competitive, political and social uncertainties; the actual results of exploration activities; changes in
project parameters as plans continue to be refined; accidents, labour disputes and other risks of the
mining industry, and political instability. Although the Company has attempted to identify important
factors that could cause actual actions, events or results to differ materially from those described in
forward-looking statements, there may be other factors that cause actions, events or results to differ from
those anticipated, estimated or intended. Forward-looking statements contained herein are made as of
the date of this news release and the Company disclaims any obligation to update any forward-looking
statements, whether as a result of new information, future events or results, except as may be required by
applicable securities laws. There can be no assurance that forward-looking statements will prove to be
accurate as actual results and future events could differ materially from those anticipated in such
statements.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/77399