The Chesser Resources Limited (ASX: CHZ) share price has bolted more than 180% higher in today’s trade after the company reported spectacular drilling results from its Gold Project in West Africa.
Highlights from Chesser’s drilling report
Earlier today, Chesser reported drilling results from its flagship Diamba Sud gold project in Senegal, West Africa. The company’s drill results were from 17 reverse circulation (RC) holes, with 9 holes coming from Area D, 4 holes from Area B and the remaining 4 holes from the Western Splay area.
Chesser reported high-grade intersections of up to 67.80 grams per tonne (g/t) gold within Area D. The best results from this area included: 48 metres at 6.70 g/t gold from 24 metres, including 10 metres at 25.14 g/t gold from 62 metres; and 55 metres at 4.27 g/t gold from 16 metres.
Chesser also reported promising results from the Western Splay area with significant intersections including: 2 metres at 19.80 g/t gold from 4 metres; 6 metres at 1.79 g/t gold from 28 metres; and 10 metres at 1.10 g/t gold from 111 metres. The company also noted positive results from Area B, with mineralisation noted in hole DSR162 and intersected 10 metres at 1.26 g/t gold from 50 metres and one metre at 3.44 g/t gold from 89 metres.
The company’s management noted the exceptional and rare high grade, consistency and thickness of the drilling results. Chesser also informed investors that results from 6 holes in Area A are pending and assured shareholders of the company’s strong cash balance.
Background on Chesser Resources
Chesser Resources is a listed gold exploration company with projects located in Senegal, West Africa. The company’s flagship Diamba Sud project is expected to host numerous multimillion-ounce gold deposits. Earlier this month the company completed a $6 million capital raising in order to fund the large-scale drilling at the Diamba Sud project.
The Chesser share price soared more than 180% higher in early trade, hitting an intra-day high of 30.5 cents. At the time of writing the company’s shares have dipped to 30 cents, up 180.95% for the day.
Where to invest $1,000 right now
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.
*Returns as of February 15th 2021
Motley Fool contributor Nikhil Gangaram has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
- The Aristocrat (ASX:ALL) share price is back near all-time highs – April 8, 2021 1:57pm
- What’s happening with the CSL (ASX:CSL) share price? – April 8, 2021 9:26am
- The Raiz (ASX: RZI) share price is surging 9% higher today – April 6, 2021 1:37pm