Lucy Project

The Lucy project comprises 483 hectares and is located within 5 kilometres from a paved highway.  Lucy was staked by Chesapeake in 2017, and the initial exploration found zinc-bearing skarns to the Northwest (See press release dated June 21, 2018).  Follow-up mapping, trenching and channel sampling in 2021 and 2022 identified the presence of a gold-bearing skarn system in the Southeast.

In June 2023, a 1,710 metre 14-hole HQ core drill program was initiated to test this gold-bearing skarn system. Holes LU23-05 to LU23-14 were collared over the gold zone defined by trenching and channel sampling.  The eight holes discovered a northeast trending zone of skarn at least 500 metres in strike length with significant gold mineralization.  The gold zone remains open along strike in both directions and at depth. The mineralization consists of a possible retrograde quartz-calcite, iron oxides and sulphides veinlets stockwork hosted within garnet skarn and hornfels.

Chesapeake plans to undertake further detailed mapping, rock sampling and trenching as well as mineralogical and petrographic studies prior to the next phase of drilling., Further exploration and analysis are required to better understand the scope and scale of the Lucy gold-bearing skarn system and the controls on the mineralization.  At this early stage of exploration with uncertain geological orientation and limited drilling coverage, the drill intercepts should not be considered representative of the true thickness of the gold mineralization.  

Drill holes LU23-01 to LU23-04 were follow-up reconnaissance holes on the zinc-bearing skarns in the Northwest.  The four holes were drill testing the extension of the known zinc mineralization to the East (directly North of the gold discovery).  No significant gold values were intercepted, but the zinc-bearing skarn has now been traced for approximately 1.5 kilometres along strike.

Additional geological cross-sections, selected core photos and the complete assay data table are available here: Download Appendix for Lucy Project Discovery NR11-2023