The Besra Gold Inc (ASX: BEZ), Voltaic Strategic Resources Ltd (ASX: VSR), and Chesser Resources Ltd (ASX: CHZ) share prices are all rocketing more than 50% today.

Let's take a look at what is going on with these ASX resources shares.

Voltaic Strategic Resources

Voltaic shares are exploding 152% at the time of writing. Investors are buying up this lithium share amid drilling results released today.

Several thick pegmatites have been intercepted at the Andrada prospect at the Ti Tree Project in Western Australia.

Drilling showed "key structural trends" connected to favourable lithium, caesium, and tantalum (LCT) pegmatoids close to granitic contacts.

Commenting on the news, CEO Michael Walshe said:

We now have a much-improved model of the regional pegmatites at Ti Tree in terms of structure, down-hole continuity and zonation, all of which are critical data for vectoring towards an LCT discovery.

Besra Gold

Besra Gold shares are soaring 93% at the time of writing to 42.5 cents. The gold company is exploring the Bau Goldfield in East Malaysia. Besra has finalised a binding gold purchase agreement with major shareholder Quantum Metal Recovery. This will enable Besra to fund production at the Bau project and evaluate other deposits in the Bau goldfield corridor.

Former CEO Dr Ray Shaw will be moving to the role of chief operating officer, stepping down as CEO. Jocelyn Bennett will take on the role of executive chair. Commenting on today's news, Bennett said:

The announcement of progress this landmark agreement, as well as the accompanying corporate changes, moves Besra's 3Moz Bau Gold Project closer to production.

Chesser Resources

Chesser shares are flying 65% higher today to 12 cents on the back of takeover news. Fortuna Silver Mines Inc (NYSE: FSM, TSE: FVI) is proposing to acquire 100% of Chesser shares at an implied value of 14.2 cents per Chesser share.

This is a 95% premium to Chesser's closing price of 7.3 cents on 8 May. However, Chesser shares are now catching up to the offer price.

In a statement today, Chesser said the board "unanimously recommends" shareholders support the acquisition at the scheme meeting. This is due to be held in August 2023.

Chesser managing director Andrew Grove said:

Chesser's strategy has focused on the standalone development of the Diamba Sud project and we have made excellent progress in this regard through exploration success, resource delineation and the delivery of a highly attractive Scoping Study late last year.

The post 3 ASX resources shares exploding over 65% on Tuesday appeared first on The Motley Fool Australia.

In late-morning trade, the gold exploration company's share price has risen 4.1% to 25 cents.

What did Chesser announce?

In today's release, Chesser advised that it has appointed Andrew Grove as its new CEO. The change in the management comes as the company moves from its exploration activities to project development, in eastern Senegal.

Mr Grove's technical, commercial and financial experience in the resources sector spans 30 years. This includes a 14-year tenure at Macquarie Group Ltd (ASX: MQG) mining finance and risk management groups.

Chesser said Mr Grove had a wealth of knowledge in operations across all phases of resources projects. Namely, the Sunrise Gold Dam project in Western Australia and his African gold mining experience at Perseus Mining Limited (ASX: PRU) as group general manager business development and investor relations.

The outgoing managing director, Michael Brown, will continue in an advisory role for the remaining time. Mr Brown's duties will involve ensuring a smooth transition process for Mr Grove as head of the company.

Mr Grove's position as Chesser CEO will come into effect on 1 February, 2021.

What did management say?

Commenting on the appointment, Chesser chair Mark Connelly said:

Having confirmed a significant gold discovery at the Diamba Sud project, the board of Chesser is transitioning the group's focus from exploration to resource definition and project development.

Andrew's unique blend of technical expertise, substantial project financing and capital markets experience, and exposure to African gold mining projects, makes him well suited to leading Chesser through the critical next phases of its development. Andrew will be based in Perth, Australia and will work closely with myself and the Australian-based directors.

How has the Chesser share price performed?

The Chesser share price has moved strongly over the past 12 months, gaining more than 226% for investors. The company's shares hit a 52-week low of 4.5 cents last March, and reached a multi-year high of 32.5 cents in October.

Based on current share price levels, the company commands a market capitalisation of around $110 million.

The post Why the Chesser (ASX:CHZ) share price is climbing higher today appeared first on The Motley Fool Australia.

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.

Foolish takeaway

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.

The post Chesser Resources share price blasts 180% higher on drill results appeared first on The Motley Fool Australia.