Chesapeake Gold: One of the Largest Undeveloped Gold-Silver Projects
110,000 ounces of gold projected
Chesapeake Gold is focused on the discovery, acquisition and development of major gold-silver deposits in North and South America. Further, Chesapeake’s flagship asset is the Metates project located in Durango State, Mexico. Metates hosts one of the largest undeveloped gold-silver-zinc deposits in the Americas. The deposit has about 18 million ounces of gold and over 500 million ounces of silver.
Chesapeake also has developed an organic pipeline of satellite exploration properties strategically located near Metates. In addition, the company owns 74% of Gunpoint Exploration Ltd. which owns the Talapoosa gold project in Nevada.
Heap leaching technology
In January 2021, Chesapeake acquired Alderley Gold Corp., a private British Columbia mining technology company. With the acquisition of Alderley, Chesapeake gained access to a proven and innovative sulphide heap leaching technology together with certain asset rights and proprietary databases, creating the path towards a new growth-oriented and innovative gold and silver producer. Chesapeake will now focus on progressing the Metates project towards production using the technology in a heap leach operation.
Chesapeake has conducted preliminary testing on several samples from the Metates project. Metallurgical test results indicated the process will promote the oxidation of the sulphides to a level that will allow the subsequent leaching and recovery of gold and silver. With the technology, the development of Metates as a heap leap operation will no longer envision autoclave circuits leading to significantly lower capital and processing costs, stronger overall project economics and a greatly reduced environmental footprint.
“We have the project, we have the team, we have the money to get it to financing and that’s what we’re going to do,” says, Director and CEO, Alan Pangbourne.
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