CHZ - Chesser Resources

Chesser has a number of South Australian Projects covering a total of 2,603 square kilometres that are considered prospective for gold, copper, nickel and uranium.

Three projects:-

1) Wynbring
Wynbring Joint Venture with Platsearch NL in the Fowler Domain has a geological setting similar to the Thompson Nickel Belt of Canada, which contains some of the world’s largest nickel deposits. The joint venture will target nickel sulphide deposits, shear hosted orogenic lode gold deposits and explore the potential for paleochannel hosted roll-front uranium deposits and mineral sands in the Tertiary sediment cover. Chesser has secured funding for the planned drilling program from The Primary Industries and Resources South Australia (PIRSA) through the Plan for Accelerating Exploration (PACE) assistance scheme.

2) Cedric Bore
Cedric Bore Project has the potential for Olympic Dam or Prominent Hill Style IOCG deposits, Tanami style orogenic lode gold deposits and paleochannel hosted roll-front uranium deposits in the Tertiary sediment cover.

3) Messent
Messent Project has potential for base and precious metal deposits and covers 408 sq km of basement volcanic and intrusive rocks of Cambrian age believed to represent a continuation of the mineralised Mt Read Volcanic belt in Tasmania, which contain significant VHMS style base metal deposits.

Chesser has some nice looking charts, in particular the SMA chart. I've included the actual depth queue at around 1:00pm today as sellers are getting very thin.

Like you mentioned moses they have a number of projects in SA (one is PACE funded) but I think it`s the Sisorta project in Turkey thats the one to watch medium term.

CHZ Share structure
– Ordinary fully paid 33,530,000
– Escrow 6,720,000
– Options 7,500,000
• Market cap fully diluted: about $26 million

Moses, could you pop up another SMA chart if you get a chance, cheers.

Ann out this morning :

New high grade gold zone intersected on Sisorta Property, Turkey

Highlights
• New high grade gold zone intersected in silica cap target area 400 metres to
west of previously drilled main zone.
• 35.2 metres at 3.60 grams per tonne gold including 10.1 metres at 6.04
grams per tonne gold intersected in oxide material
• Existing mineralised zone extended with an additional intersection of 34.7
metres at 1.62 grams per tonne gold in oxide material from surface
• Assays now received from the six drillholes completed in 2007
• Expanded drill program planned for 2008

Chesser Resources Limited (ASX:CHZ) is pleased to announce the discovery of a new
zone of high grade oxide gold mineralisation in new drilling on the Sisorta property.

Significant new drill results from the project include:
• 35.2 metres at 3.60 grams per tonne gold from drillhole Sis17 starting at a depth of 113.3 metres, including 10.1 metres at 6.04 grams per tonne gold
• 34.7 metres at 1.62 grams per tonne gold from drillhole Sis13 starting at surface,
• 37.7 metres at 0.66 grams per tonne gold from drillhole Sis16 starting at surface,
• 20.8 metres at 0.6 grams per tonne gold and 0.38 percent copper from drillhole Sis15 starting at a depth of 30.45 metres

Thought I'd bump this one for people's attention

Have had a lovely run up (30c-90c) over the past two months with good results from their Kastelanik lease in Turkey, epithermal gold looking a little Andean-ish although not quite in that league! Still there are a number of veins that are providing some handy intersections and it will be interesting to see what their JORC comes out as early next year.

MC of $100m at current SP and fairly tightly held so will be interesting to see if it can maintain gains.

jonojpsg said:

Thought I'd bump this one for people's attention

Have had a lovely run up (30c-90c) over the past two months with good results from their Kastelanik lease in Turkey, epithermal gold looking a little Andean-ish although not quite in that league! Still there are a number of veins that are providing some handy intersections and it will be interesting to see what their JORC comes out as early next year.

MC of $100m at current SP and fairly tightly held so will be interesting to see if it can maintain gains.

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Interesting day yesterday, good volume and held 80c. This is set up nicely for a run back to $1.00.

Hmm, obviously dropped back a fair way as NO mention of JORC resource anytime soon?? Was expecting 1st half of this year but no mention of it in any quarterly or drilling ann for a while so no idea of when they now aim to release one??

Hi All

First time user of this forum so not sure where I disclose that I've owned CHZ stock for several years but there you go- disclosed! Check out todays Board Room Radio and yesterdays announcement. Sounds very promising. Roll on 2012.

CHZ, exploring for gold in Turkey. Worth investigating further.

Latest drill results just released.
http://www.asx.com.au/asxpdf/20120629/pdf/4273qxkbqjssmj.pdf

DRILLING CONTINUES TO EXTEND GOLD MINERALISATION OUTSIDE THE RESOURCE AT KESTANELIK
Highlights
o 41.1 metres at 7.2 g/t gold including 9.2 metres at 29.1 g/t gold
o 15.6 metres at 16.2 g/t gold including 4.0 metres at 59.5 g/t gold
o 5.6 metres at 14.9 g/t gold including 1.8 metres at 41.5 g/t gold
o 13.8 metres at 2.6 g/t gold including 2.1 metres at 9.3 g/t gold
o 5.3 metres at 6.4 g/t gold including 1.5 metres at 19.9 g/t gold
o 4.2 metres at 4.4 g/t gold
o 2.5 metres at 5.3 g/t gold including 1.3 metres at 8.3 g/t gold
o 3.0 metres at 7.3 g/t gold including 1.0 metre at 9.8 g/t gold
• Approximately 26,000 metres of the planned current 30,000 metre drilling program has now been completed, with results released to date from 23,500 metres.
• The current program is projected to continue until the end of July, with regular release of results to continue



Just completed a successful cap raising.
http://www.asx.com.au/asxpdf/20120614/pdf/426tj8hlzp364v.pdf

Chesser Resources Limited (ASX: CHZ) (“Chesser” or the “Company”) has successfully completed the recently announced A$8 million equity capital raising through a placement of ordinary shares in the Company to sophisticated and institutional investors at A$0.335 per share (the “Offer”).
The Offer enjoyed strong demand from existing shareholders and new investors.
Settlement of the approximately A$6.5m unconditional placement component of the Offer is scheduled for Tuesday, 19 June 2012. The conditional placement component of the Offer, of approximately A$1.5 million, is subject to Chesser shareholder approval which will be sought at a General Meeting expected to take place on Tuesday, 31 July 2012.
• The Metals and Energy Capital Division of Macquarie Bank Limited has committed to subscribe for A$4 million at the offer price


• Drill Programs – 2012/2013
– Current drill program expected to complete in July 2012
– New 15,000 metres drill program with 4 drill rigs to take place over late 2012 and 1H 2013
– New drill program is anticipated to lead to a resource update based on an additional 33,000m meters of drilling post the maiden resource
• Updated resource expected in mid 2013
– Subject to the successful completion of the drill programs
– This resource will be included in the planned scoping study
• Scoping study – 2H CY2013
– Scoping Study on Kestanelik Project is expected to commence in mid 2013 and complete later in 2013
– Chesser will continue to assess metallurgy and compilation of information relevant to project economics ahead of scoping study in 2013
– Scoping study results will be assessed and decision made on project development timeline to prefeasibility
and permitting
• Permitting process – Late 2013 / 2014
– Subject to successful completion of the scoping study, Chesser will begin permitting process and submittal of project description



Gold exploration in Turkey
– Flagship property is Kestanelik – NW Turkey
– Now vested 100% (subject to 2.5% NSR)
– Epithermal vein project
– High grade, wide veins, top of gold zone, big system, open at depth
– JORC Inferred 5.9mT @ 2.4 g/t gold for 462,000 oz – likely to be open‐pittable
– 90% untested, 5100m to go in current program

Also has Sisorta Karaayi and Catak up its sleeve

Another goldie in deep downtrend!

burglar said:

Another goldie in deep downtrend!

View attachment 47724

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I could be wrong, but I remember JORC resource was HIGHLY anticipated in first half year 2012 for CHZ.

Well, it rolled around and no JORC?

CHZ have also been spruiked by one of the newsletters.. small caps something or other that e-trade investors got for free... (It was trading at around 60c then)

Chasero said:

I could be wrong, but I remember JORC resource was HIGHLY anticipated in first half year 2012 for CHZ.

Well, it rolled around and no JORC?

CHZ have also been spruiked by one of the newsletters.. small caps something or other that e-trade investors got for free... (It was trading at around 60c then)

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Is this a hard working, but slightly overpromised, board that just cannot quite clear all the hurdles?

Or are they perennial hole drillers, sat around an (ornate) oval table sipping Shiraz?

And how do we tell the difference?

MD's presentation for CHZ.
http://www.asx.com.au/asxpdf/20120720/pdf/427hm2g37v5hb5.pdf

DRILLING EXTENDS THE K1 AND KARAKOVAN VEINS AT KESTANELIK


Highlights
o 8.9 metres at 7.2 g/t gold including 3.7 metres at 15.8 g/t gold - this intercept significantly extends the Karakovan 1 vein along strike to the southwest;
o 17.4 metres at 3.8 g/t gold including 3.8 metres at 15.6 g/t gold - this intercept is down dip from the K1 vein resource envelope;

Other significant new intercepts include:
o 11.4 metres at 7.01 g/t gold including 2.6 metres at 28.05 g/t gold;
o 16.2 metres at 3.4 g/t gold including 4.3 metres at 10.8 g/t gold;
o 7.4 metres at 3.62 g/t gold including 2.1 metres at 7.95 g/t gold;
o 2.7 metres at 5.02 g/t gold.

• Approximately 28,400 metres of the planned current 30,000 metre drilling program has now been completed, with results released to date from 25,500 metres;
• Drilling now focused on extensions to the K2 and KS vein systems;
• Drilling is projected to continue until late August, with regular release of results to continue;
• A follow-up 15,000 metre drilling program is scheduled to restart in early October 2012.

CHZ making a nice breakout on average volume today.

One of my Low Cap Low Liquidity updates has been moving nicely lately. Up 33% since I started covering it.
Announcement out today.

KESTANELIK DRILLING UPDATE
NEW VEIN DISCOVERIES RETURN EXCELLENT HIGH GRADE RESULTS 1.5 METRES AT 41.4 g/t GOLD AND 5.3 METRES AT 16.8 g/t GOLD
Highlights
Discovery of two new veins located between the K2 and K1 veins: o KA vein:
● 1.5 metres at 41.4 g/t gold - drill assay result; o KM vein:
● 5.3 metres at 16.8 g/t gold from surface - rock-saw sampling, and
● 8.4 metres at 3.6 g/t gold from surface - drill assay result;
o Combined 500m strike length of new potential high-grade veining.
Further significant high grade intercepts outside the JORC mineral resource include: o K2 vein - 8.3 metres at 12.1 g/t gold including 5.3 metres at 18.3 g/t gold ;
o K3 vein - 15.4 metres at 6.2 g/t gold including 4.9 metres at 17.2 g/t gold ;
Other significant new intercepts within the JORC mineral resource include:
o 36.0 metres at 5.2 g/t gold including 14.2 metres at 10.2 g/t gold;
o 14.3 metres at 5.7 g/t gold including 6.4 metres at 11.7 g/t gold;
o Both are wider and higher grade than the modelled resource at their locations
• The final two drillholes are nearing completion on the current drilling program, with results released to date for 27,650 metres;
• A follow-up 15,000 metre drilling program is scheduled to restart in early October 2012, with four drilling rigs;
• Regular release of results expected to continue through Q2 2012 and into 1H 2013.

EXCELLENT DRILLING RESULTS CONTINUE TO EXPAND GOLD MINERALISATION AT KESTANELIK

Significant high grade intercepts outside the JORC mineral resource include:
K2 Vein:
o 23.5 metres at 9.6 g/t gold (from 23 metres) including 3.9 metre at 25.3 g/t gold
o 46.9 metres at 4.6 g/t gold (from surface) including 6.0 metres at 14.2 g/t gold
o 26.5 metres at 2.9 g/t gold (from 2 metres) including 4.2 metres at 10.3 g/t gold
o 5.8 metres at 6.1 g/t gold (from 32 metres) including 1.0 metre at 29.1 g/t gold
K3 Vein:
o 5.7 metres at 4.6 g/t gold including 0.9 metres at 21.1 g/t gold

Significant new intercepts within resource envelope include:
KM Vein:
o 3.1 metres at 13.0 g/t gold (from surface) including 1.0 metre at 33.0 g/t gold
o 14 metres at 1.7 g/t gold including 1.0 metre at 6.7 g/t gold
o 13.9 metres at 1.8 g/t gold including 0.9 metre at 7.2 g/t gold

• The company has now completed 30,300 metres of drilling in the current program, with results released to date from 28,750 metres.
• A follow-up 15,000 metre drilling program is scheduled to start in early October 2012, with four drilling rigs;
• Regular release of results expected to continue through Q2 2012 and into 1H 2013.

New decent gold drill results from African project announced by CHZ 28 July 2020
Drilling intersected exceptionally thick, shallow, high-grade oxidised mineralisation across a 200m wide zone in five adjacent holes: • 48m at 6.70 g/t gold from 24m, including • 10m at 25.14 g/t gold from 62m • 55m at 4.27 g/t gold from 16m • 38m at 4.63 g/t gold from 8m, including • 18m at 7.04 g/t gold from 28m, including • 4m at 18.30 g/t gold from 30m • 36m at 2.93 g/t gold from 6m, including • 10m at 6.13 g/t gold from 16m • 34m at 1.91 g/t gold from 16m

I’m going to follow this one as the recent drill results looked solid and the recent capital raising should provide enough funds hopefully to generate more drilling results even though it is wet season in Senegal. Mark Connelly recently appointed as chair enjoyed success at Papillon will be watching to see whether he can do the same at CHZ. A key risk for me with such a junior is if they look to do a big opportunistic raising whilst price has jumped

Padowan said:

I’m going to follow this one as the recent drill results looked solid and the recent capital raising should provide enough funds hopefully to generate more drilling results even though it is wet season in Senegal. Mark Connelly recently appointed as chair enjoyed success at Papillon will be watching to see whether he can do the same at CHZ. A key risk for me with such a junior is if they look to do a big opportunistic raising whilst price has jumped

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Well, a placement at 21 cents was pretty darn good.

They should have enough cash and drilling completed to get a resource out before going back to the market for more $$$. Looks very close to surface and hopefully grades should be good enough to make it a sell off/takeover target to one of the larger players in the area. Though nothing spectacular has come through on recent results.