3rd Jul 2019 13:10
(Alliance News) - Copper and gold explorer Chesterfield Resources PLC said Wednesday it has completed a induced polarisation and resistivity geophysical survey on Troodos West in Cyprus, with initial results analysed.
The survey was conducted on the Evlim prospective target area, which contains the Limni open pit in the northern area, and the satellite deposit Evloimeni at the southern end.
Following drilling operations at Evloimeni in the fourth quarter of 2018, Chesterfield identified a faulted down gold and copper field which continues at depth of 50 metres.
Initial results from the IP survey were said to be encouraging, indicating a potential extension of mineralisation west of Evloimeni in the downfaulted block. A drill target has bee identified as likely to host copper and gold mineralisation in lavas, and will be tested in due course.
"The identification of the Evlim target is a good example of this and we are excited about its prospects. Evlim is now being prepared for drilling. Various other targets in the Troodos West area are in advanced stages of exploration and more information on specific targets will be provided in the near future," said Executive Chair Martin French.
Shares in Chesterfield Resources were down 1.1% at 4.65 pence on Wednesday.
Related Shares:
Chesterfield R.