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Regional Projects

Chesapeake is developing an organic pipeline near Metates and the El Paso plant site. Regional exploration has identified four prospects with district scale potential. The four projects are located along a prolifically mineralized corridor that parallels the Pacific coast and lies along the western margin of the Sierra Madre Occidental. To date, Chesapeake has assembled a regional land package totaling over 85,000 hectares.

Yarely Project in Sinaloa State

Two projects, Yarely and El Paso, are situated in Sinaloa state and strategically located within 25 kilometers of the El Paso process site. At Yarely, geological fieldwork and geophysical surveys have defined high grade and disseminated mineralized zones.

El Paso Project in Sinaloa State

The El Paso project covers 150 square kilometers near the El Paso processing site. The district hosts extensive polymetallic exoskarn and intrusive hosted quartz stockwork zones. Channel sampling return 69 meters of 2.2 g/t gold, 8 g/t silver and 1.1% zinc and 50 meters of 0.6 g/t gold and 12 g/t silver within the quartz stockwork.

Nicole Project in Durango State

In Durango state, Chesapeake’s two regional projects are Nicole and San Javier. Nicole is located 45 kilometers northwest of the Metates deposit within a regional hydrothermal alteration zone spanning over 12 square kilometers. Over a vertical extent of one kilometer, quartz breccia veins transition to disseminated and stockwork mineralization at depth. Channel samples from the upper levels returned values of 7 meters of 3.1 g/t gold, 238 g/t silver and 0.3% zinc and 3 meters of 12 g/t gold and 450 g/t silver. Lower in the system, channel sampling of disseminated and stockwork mineralization returned 135 meters of 0.8 g/t gold, 16 g/t silver, and 0.7% zinc and 35 meters of 0.7 g/t gold, 20 g/t silver and 0.5% zinc. Limited historic core drilling targeting the disseminated and stockwork mineralization returned intercepts of 30 meters of 1.2 g/t gold, 29 g/t silver and 1.5% zinc and 30 meters grading 0.7 g/t gold, 19 g/t silver and 0.7% zinc. A 45 line-kilometer IP/Resistivity survey has defined a large 1.0 by 1.5 kilometer coincident low resistivity/ high chargeability anomaly which underlies the area of drilling.

San Javier Project in Durango State

San Javier is located 10 kilometers south of the Metates deposit. Reconnaissance stream sediment geochemistry followed by detailed geologic mapping and rock chip sampling led to the discovery of the San Javier project. Two different mineralized zones have been defined within a 15 square kilometer alteration zone. Sampling of the 4 kilometer long northeast trending quartz-silver stockwork zone has returned values of 60 meters of 71 g/t silver and 0.6% lead and 28 meters of 158 g/t silver and 0.3% lead. A 3 kilometer long northwest trending zone of structurally associated breccia has returned a channel sample of 48 meters of 1.0 g/t gold.