Chesterfield Resources PLC New drill target at Troodos West (6265G)
25 July 2019 - 4:00PM
UK Regulatory
TIDMCHF
RNS Number : 6265G
Chesterfield Resources PLC
25 July 2019
Chesterfield Resources Plc/ EPIC: CHF/Market: LSE/ Sector:
Mining
25 July 2019
New drill target identified in Troodos West
Chesterfield Resources, the copper exploration company in
Cyprus, is pleased to announce that it has confirmed a new drill
target in its Troodos West group of exploration permits.
The target, which has been named KinValley, is at the northern
end of the 15km long Kinousa fault structure where multiple
historical mines occur along two parallel trends. Chesterfield has
carried out mapping, sampling, geophysics and drilling to build a
high-quality database over the course of the past year.
This previously untested target is interpreted to be a shallowly
buried VMS deposit formed within a 2(nd) order extensional graben
within the down-thrown hanging wall of the fault and is preserved
in favourable stratigraphy. KinValley is within the same trend as a
cluster of the historically mined VMS deposits that include Kinousa
and Uncle Charles. A geochemical survey (100m line space, 50m
sample interval) was carried out and a total of 128 soil samples
were taken resulting in a coincident copper anomaly.
The target is also supported by geophysics whereby a VTEM
anomaly coincides with an airborne magnetics anomaly; both with
similar amplitude and extents (<1km x 2-400m) indicative of a
preserved VMS body. KinValley is permitted and is now being
prepared for drilling. Please see the diagram in pdf link as
attached.
http://www.rns-pdf.londonstockexchange.com/rns/6265G_1-2019-7-24.pdf
Executive Chairman Martin French commented "This is the second
major target of our upcoming drill programme at Troodos West. Each
of our targets goes through a rigorous development programme of
surveying and testing before we commit to the more expensive stage
of drill testing. We will keep the market updated as the programme
develops further".
ENDS
Martin French, Executive Chairman Tel: +44(0)7901 552277
Brandon Hill Capital (Broker):
Jonathan Evans/Oliver Stansfield Tel: +44 20 3463 5000
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END
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