Announcement Date: 2022-03-15
Announcement Type: Scoping Study
Announcement Code: JORC
Company name: Chesser Resources Ltd.
Project name: Diamba Sud
Location: Senegal
Commodities: Gold
Highlight: Scoping Study results incl. post-tax NPV (5%) of US$301M & IRR of 59%
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Chesser Resources Limited (“Chesser” or “the Company”) (ASX:CHZ) is pleased to report on the results of the Scoping Study undertaken over the Area A and Area D Mineral Resources at the Diamba Sud Gold Project (“Project”) in Senegal, West Africa. The Scoping Study referred to in this ASX release has been undertaken for the purpose of initial evaluation of a potential development of the Diamba Sud Gold Project, Senegal. It is a preliminary technical and economic study of the potential viability of the Diamba Sud Gold Project. The Scoping Study outcomes, production target and forecast financial information referred to in this release are based on low accuracy level technical and economic assessments that are insufficient to support estimation of Ore Reserves. The Scoping Study has been completed to a level of accuracy of +/- 35% in line with a scoping level study accuracy. While each of the modifying factors was considered and applied, there is no certainty of eventual conversion of Mineral Resources to Ore Reserves or that the production target itself will be realised. Further exploration and evaluation work and appropriate studies are required before any Ore Reserves or assurance of an economic development case. Given the uncertainties involved, investors should not make any investment decisions based solely on the results of the Scoping Study.
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