Chesser Resources Limited announced that they will report first half, 2013 results on Mar 11, 2013

Chesser Resources Limited Presents at Mines and Money Hong Kong 2013, Mar-19-2013 04:20 PM. Venue: Hong Kong Conference & Exhibition Centre, 1 Expo Drive, Wanchai, Hong Kong. Speakers: Richard Karel Valenta, Managing Director and Director.

Chesser Resources Limited released an updated JORC Mineral Resource estimate for its developing Kestanelik project in Turkey. The updated Resource is expected to follow the completion of a 15,000 meter drilling campaign now underway at its 100% owned epithermal gold project in northwest Turkey. The company also completed a 30,000 meter drilling program in August 2012, which will feed into the updated Resource estimate. The resource was based on a total of 25,000 meters of drilling, which identified the first 3.5 kilometers of veins at Kestanelik, where the company has now identified more than 30 kilometers of veins, and where approximately 90% of the low sulphidation, epithermal quartz vein system remains untested. Some 70% of the current resource lies in oxide material within 50 meters of the surface, suggesting it is likely to be amenable to low cost, open pit mining methods. Since the declaration of the resource, Chesser's Turkish exploration teams have completed a 30,000 meter drilling program which yielded very promising results including: 15.6 m at the rate of 16.2 g/t inclusive 4.0 m at the rate of 59.5 g/t; 23.5 m at the rate of 9.6 g/t inclusive 3.9 m at the rate of 25.3 g/t; 15.4m at the rate of 6.2 g/t inclusive 4.9m at the rate of 17.2 g/t; 5.3 m at the rate of 16.8 g/t inclusive 1.8m at the rate of 24.3 and 1.5 m at the rate of 41.4 g/t. Following the completion of the program in August 2012, the company has commenced another 15,000 meter program using four rigs, systematically testing 5.5 kilometers of veins where high grade gold intercepts have been identified. At the end of that program, due for completion in March 2013, Chesser will have drilled a total of almost 60,000 meters, including 33,000 meters over and above the 25,000 meters that led to the first resource.