Chesterfield Resources plc announced it had started its 2021 exploration campaign for additional tonnage of base and precious metals in Cyprus.
The company’s enlarged and integrated 2021 campaign has begun with a gravity survey on five main target areas, with approximately 800 survey points planned over 5 km2.
An AMT survey will cover three main target areas, with approximately 250 survey points planned over 2.25 km2.
Chesterfield’s campaign is targeting definition with drill-testing planned for Evlim, Hillside and Kin Valley.
Work will include AMT geophysics, percussion drilling and downhole electromagnetic (EM) and gravimetric (gravity) geophysics.
Diamond drilling is planned for May on the successful results at the three priority target areas, in addition to other highly ranked targets that warrant drill-testing.
Chesterfield’s geological and engineering team is now on site. The exploration team is led by Neil O’Brien, formally head of exploration at Lundin Mining, Dave Cliff previously Rio Tinto’s head of exploration Europe; and Mike Parker who has worked for First Quantum mining for 20 years.
Executive chairman Martin French added that the company was operating on schedule despite the challenges posed by Covid travel restrictions.
“Our geophysics contractors from Spain entered the country and underwent quarantine procedures, while our geological and engineering team arrived last week on one of the first post-quarantine flights to arrive in Cyprus.”
RECENT RESULTS
The exploration programme started after high grade intercepts of copper, gold, silver and zinc were assayed in February and showed:
– 2.65m grading 2.8% Cu, 3.0 g/t Au, 3.8% Zn, 30 g/t Ag; total mineralised intersection width of 11.6m.
– 2.45m grading 1.4% Cu, 3.0 g/t Au, 4.4% Zn, 38 g/t Ag; total mineralised intersection width of 16.6m.
Native copper was encountered in three holes with copper visible in the core and smeared on the drill bit.
CHESTERFIELD RESOURCES
Chesterfield Resources is a copper, gold, zinc and silver exploration company active in Cyprus where it holds the largest mineral exploration licence area of any operator on the island.
Its current focus is on its Troodos West group of licences with around 30 defined targets in an area measuring 10km2.
The company aims to discover several volcanogenic massive sulphides (VMS) deposits in close proximity to each other to create a mining project with a centralised processing unit.
Copper is the main exploration target but gold has been encountered in several locations in the target area.
Polymetal International, the FTSE100 mining group, recently made a 23% strategic investment in Chesterfield via a placing of new shares, and has appointed a director to the board.
Chesterfield hopes to develop industry and opportunities for the benefit of the Republic of Cyprus.
Minimal exploration activity has taken place on Cyprus over the past 46 years since the invasion by Turkey in 1974 stopped the local mining industry.
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