December 15, 2011
Significant Progress Towards Completion Of The Pre-Feasibility Study Reported On Metates
September 20, 2011
Excellent Pilot Plant Scale Metallurgical Test Result On Metates
May 4, 2011
Chesapeake Files Year End Audited Financial Statements, Together With Re-Statement For 2009
|
Chesapeake is focused on the exploration and development of precious
metals projects in North America. Chesapeake's major project is its 100%
owned Metates gold deposit located in Durango state, Mexico. Metates is
one of the largest undeveloped gold and silver projects in the world.
Independent Mining Consultants of Tucson, Arizona reported an updated NI
43-101 measured and indicated resource estimate of 17.2 million ounces
of gold, 467 million ounces of silver and 3.4 billion pounds of zinc
plus an inferred resource of 2.6 million ounces gold, 62 million ounces
silver and 358 million lbs of zinc. On a gold equivalent basis
(gold-silver), Metates contains 24.5 million ounces of gold in measured
and indicated material along with 3.6 million ounces in the inferred
category.
M3 Engineering & Technology of Tucson, Arizona completed a positive
Preliminary Economic Assessment (“PEA”) of Metates at US$900 per ounce
gold, US$18 per ounce silver and $1.00 per lb zinc. The PEA indicates a
large 120,000 tpd open pit operation with a 20 year mine life. Annual
gold equivalent production over the mine life is projected to average
1,158,000 ounces at a direct cost of US$434 per ounce including zinc
credits. M3 expects to complete a pre-feasibility study on Metates at
the end of the first quarter in 2012.
From opportunity, Chesapeake also recognizes that exploration success
creates shareholder value. Our exploration is focused on gold projects
that have the potential for district-scale success. Generative
exploration has led to two potential bulk tonnage targets near Metates
that Chesapeake plans to advance to the drill stage in 2012.
Chesapeake's management and technical team have an exceptional track
record. With Francisco Gold Corp., this team discovered El Sauzal and
Marlin, two robust world-class gold mines now owned by Goldcorp Inc. in
Mexico and Guatemala.
Chesapeake is listed on the TSX Venture Exchange under the symbol CKG.
|
