Share Name Share Symbol Market Type Share ISIN Share Description
Chesterfield Resources Plc LSE:CHF London Ordinary Share GB00BF2F1X78 ORD 0.1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 3.25 3.00 3.50 3.25 3.25 3.25 266,666 00:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 0.0 -0.7 -1.5 - 2

Chesterfield Resources PLC New drill target at Troodos West

25/07/2019 7:00am

UK Regulatory (RNS & others)


Chesterfield Resources (LSE:CHF)
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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 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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