The ramp extension being driven to open up a second level on the No 3 vein system has advanced to 470 ft at the Chester Twp. gold property near Gogama, Ont., Chesbar Resources reports. Underground drilling has started from drill stations which are being cut as the ramp progresses; cores from the first four holes are out for assay.
Surface drilling on the property continues on the No 3 vein system and on the parallel No 1 vein system which lies 1,300 ft to the north. Recent gold values intersected from the No 3 zone ranged from 0.08 oz per ton on up to 0.41 oz, and from the No 1 zone, 0.1 oz on up to 0.8 oz.
Chesbar is earning a 60% interest in the property from Murgold Resources.
Meanwhile, line-cutting and geophysical surveys have been completed on the recently optioned Yeo Twp. gold property located three miles west of the Chester Twp. property. Chesbar is earning a 100% interest in the project. Targets for drilling have been identified and three additional adjacent claims have been acquired.
On the company’s new Yukon project near Carmacks, bulldozer trenching is under way to follow up high grade surface gold samples. Drilling is planned.
At the Mikwam project in the Casa Berardi area, nine holes have been drilled to date. Assays from the first five holes returned low but anomalous gold assays, the highest being 0.05 oz over 3 ft.
Chesbar, which is listed on the me, recently began trading on the tse (symbol cbi).
Be the first to comment on "Chesbar extends ramp at gold bet"