Chesser Resources

Primary ticker: ASX:CHZ
Stage of development: Exploration
Primary minerals: Gold
Project to promote: Diamba Sud

Live financials

Chesser is focused on gold discovery on its strategic land package in Senegal. The Diamba Sud is the comapny’s prime focus, following very succesful auger program in 2017. This has identified a very high grade gold anomaly in saprolite with a ring like anomaly some 4.5 km by 4km. Limited historic RC drilling in southern part identified near surface mineralisation of signficant intervals (32m @ 1.29g/t Au and 14m @ 2.85 g/t Au). Diamba Sud lies on the western flank of the senagal-Mali shear zone, and is 5km from Randgold’s 5.5MOz Gounkoto operation on the Mali Border. The company is now advancing to drill test this significant anomaly with a first pass drill program expected to commence in early 2019.

Management Profile

Mike Brown, CEO and Managing Director

Mike Brown, CEO and Managing Director, is a qualified geologist with over 25 years’ experience, having worked in exploration and mining in Australia, Indonesia, Chile and Argentina. This has included Homestake, RioTinto and Phelps Dodge. He has held senior executive roles with Kinross Gold, Austral Gold and Argentex Mining. Mr Brown was most recently a member of the executive team at Austral Gold (ASX: AGD), a junior producer. Prior to that, he was CEO of Argentex Mining, a TSX Listed precious metals explorer acquired by AGD.

What is your rationale for attending 121 Mining Investment?

Following an auger program undertaken on properties that Chesser acquired in Arpil 2017 in Senegal the company is now focused on testing the high grade anomaly identified at it’s flagship Diamba Sud project. With drilling expected to commence early in 2019 this is a new story in a very favourable and stable mining and political jursidiction.

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

Commencement of drilling expected.

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

3 Months:

Commence drilling at Diamba Sud (phase 1, ~5000m)

6 Months:

Interpretation of release of results for phase 1, with phase 2 to follow up phase 1, and test other areas of the anomaly.

12 Months:

Have ascertained the source and controls of mineralisation on the Diamba Sud proerty and advanced a strategically focused portfolio of properties in Senegal.

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

General market sentiment in the resource sector is low, with valuations lagging, and not even good news sustaining price movements in line with underlying value.

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

Advancing to drill testing a very significant gold anomaly in a stable West African jurisdiction on a structural belt that hosts 2.5m-12mOz gold deposits, with relatively little exploration.