Chesser Resources Ltd (ASX:CHZ) is pleased to announce the...

Chesser Resources Ltd (ASX:CHZ) is pleased to announce the receipt of the first drill results
from its recently commenced drill program at the Kestanelik Gold Project in NW Turkey. Drill
results have now been received for the first six holes out of the 70 drill holes that have been
completed to date.
The Managing Director of Chesser Resources, Dr Rick Valenta, said “the new program was
delivering the results required to expand the indicated resource for Kestanelik, as well as to
expand the overall resource.”
“This drilling has shown that in some areas the grades and thicknesses of gold mineralisation
are higher than those in the August 2013 JORC resource estimate. We are very encouraged
that early drilling has highlighted such areas, and look forward to continuing to build on those
high grade zones as the infill and step-out drilling continues.
“We are making good progress toward completion of the drill program, the PFS and the EIA
permitting process, which are three of the key milestones in the process of de-risking Kestanelik
and advancing toward production,” he said.
KED-258 was an infill hole on the KK1 and KK2 vein zones and returned an outstanding
intercept of 8.1 metres of 12.0 g/t gold on the KK1 zone, in an area where the resource model
estimate was approximately 4.5 metres at 0.9 g/t gold. This indicates that the extent of the high
grade shoot area on the KK1 vein may be significantly larger than currently modelled. The
intersection on the KK2 zone in the same hole had a best intercept of 2.0 metres at 5.1 g/t gold.
KERC-140 intersected the K1 zone with an intercept of 3 metres at 6.6 g/t gold in an area where
the resource estimate was approximately 3 metres at 1.1 g/t gold.
KERC-141 tested an area of the K2K1 zone where the resource grade was estimated at
approximately 0.8 g/t gold over a width of approximately 5 metres. Assays from this zone are
incomplete, but intercepts returned so far include 2 metres at 3.2 g/t gold and 2 metres at 2.7 g/t
gold within a broader interval of 22 metres at 0.91g/t gold.
Drillholes KED-255, 256 and 259 returned results which were broadly comparable to the
modelled resource in the vicinity of the hole.
Phase one of the current program, comprising approximately 12,000 metres, is currently on
schedule to be completed in January. Results from the drilling will be used to complete a JORC
resource update in early 2014,