March 6, 2012
Chesapeake Updates Status of the Pre-Feasibility at Metates
Regional Exploration Underway On Three New Mexican Prospects
February 28, 2012
Chesapeake Raises $35.2 Million From Warrant Exercises
February 16, 2012
Chesapeake Gold Anounces New Resource Estimate For Metates
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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 19 million ounces
of gold, 519 million ounces of silver and 4.2 billion pounds of zinc
plus an inferred resource of 818,000 ounces gold, 21 million ounces
silver and 130 million lbs of zinc. On a gold equivalent basis
(gold-silver), Metates contains 27.9 million ounces of gold in measured
and indicated material along with 1.2 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.
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