Chesterfield Resources plc said it had extended its drilling and exploration campaign for further testing of gold encounters at its projects in Cyprus.
LIMNI SOUTH GOLD
The company has also identified a “promising waste dump opportunity” in the Troodos West licence area.
Drilling and sampling indicates that it has the potential for an early revenue heap leach project, said Chesterfield.
An appraisal programme with additional testing is being designed for the project which has been named Limni South Gold.
POLYMETAL INTERNATIONAL
Chesterfield also hosted a site visit from the company strategic partner Polymetal International, the world’s tenth largest gold producer.
“Their conclusion was that the project showed particular promise in gold,” said executive chairman Martin French.
“We had reached a similar conclusion from our gold study announced last April and have decided to extend our drill programme to encompass more gold targets.”
Chesterfield has also completed initial studies at its newly acquired Adeline project in Labrador, Canada.