Chesser Resources

Website: www.chesserresources.com.au
Primary ticker: ASX:CHZ
Stage of development: Exploration
Primary minerals: Gold
Project to promote: Diamba Sud

Live financials

Chesser is an Australian listed explorer focused on advancing the newest high-grade gold discovery in Senegal in one of the world’s most prolific gold belts. The company is well funded and finalised the third phase of drilling at the end of the year. The discovery at Northern Arc is shallow intrusive related high-grade gold in pyrite in fresh rock. It lies within a large geochemical target where other significant targets are to be followed up or tested, with wide spaced drilling to date. The mineralisation shares characteristics with the world class deposits that lie on the Mali side of the Senegal-Mali Shear zone (Fekola, Loulo, Sadiola) and is just 7km from Gounkoto. Management is highly experienced technically and in running public companies.

Management Profile

Mike Brown, CEO& MD

Mike Brown, CEO& MD is a geologist with over 25 years experience in exploration, mining and natural resources. He is a former CEO and has worked with Rio Tinto, Phelps Dodge, Homestake, Kinross and junior explorers and producers at an executive level.


Gareth O’Donovan, Exploration Manager

Gareth O’Donovan is a geologist and engineer with over 30 years experience in exploration and mining. He has worked extensively in Senegal and West Africa and is fluent in French. He founded SRK Exploration Consulting, where he was Chairman and CEO. He is based in Dakar.


What is your rationale for attending 121 Mining Investment?

Chesser is a 100% retail held company with a new early stage high-grade gold discovery in one of Africa’s best jurisdictions. Chesser is actively seeking to present the story to the wider investment community.


What recent news would you like to highlight to investors attending?

Drill results from Phase 3 diamond (~2000m) and RC (~2500m) drilling expected to start being received in early January.


What are your key goals for the next 3, 6 and 12 months?

3 Months:
Expand footprint of Area A discovery at Northern Arc following first diamond holes in phase 3 to understand geological setting and mineralisation. Confirm structural setting of high grade mineralisation discovered in fault system in Area D at Northern Arc target.

6 Months:
Subject to results of Phase 3 drilling test extensions of Area D and Area A and test the Western splay target area.

12 Months:
Advance drilling towards a potential resource at Northern Arc and neighboring targets.


What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

As we are exploring an early stage discovery the key challenge is understanding then defining the controls on high-grade mineralisation, and discovering where these may or may not exist on the project area. Complexity of the mineralisation will determine how effective exploration expenditure is. We have a number of significant anomalies that remain untested, which luckily offer additional or alternative targets.


In a sentence, what do you think makes your company such a compelling investment?

Chesser has a shallow early stage high-grade gold discovery in freshrock within a prolific structural belt that hosts over 45 million ounces of gold in Tier 1 assets in a mining friendly stable democracy with no security issues that has seen significant corporate activity in the last year.