Listed on the Main Board of the London Stock Exchange
Chesterfield Resources is a copper focussed resource exploration company with licences in Cyprus where it has been operating since 2017. Chesterfield aims to build upon its recent successes on licence areas that are clustered together in the West Troodos area of Cyprus called the Westline Trend. These areas have a history of positive drill results announced most recently in late 2021 and early 2022.
At Westline, this recent work produced some long polymetallic intersections with consistently elevated gold shows, indicating potential for a larger nearby copper-zinc massive sulphide deposit with the target open in all directions. At Orchard, which has a history small scale trial mining in the 1950s, drilling in 2018 and 2021 encountered semi-massive sulphides.
Chesterfield is also a stakeholder in some highly prospective Canadian exploration projects through its 5.46% shareholding in Sterling Metals (SAG.V), a listed Canadian explorer, shares it received in addition to cash for the sale of the Adeline project in Labrador, Canada in 2023 and 2024.This stake in Sterling gives Chesterfield good exposure not only to any future upside from continuing work being carried at Adeline, but also to Sterling’s promising Copper Road Project in Ontario, a set of licences covering 25,000 hectares with some history of copper production, where drilling in 2023 confirmed and expanded mineralised porphyry and breccia targets. In May 2024 Sterling announced the appointment of Mark Goodman as chairman (previous roles have included President of Dundee Corporation, the TSX listed merchant bank), and as of July 2024, Sterling is well funded and planning a summer exploration programme, for more details see their website – https://www.sterlingmetals.ca/
Cyprus is regarded as a prospective copper-zinc-gold-silver exploration location. It is a member of the EU, and its legal system is based on English common law. Chesterfield identified a value-creative exploration opportunity due to minimal exploration activity on the island in the last 48 years since the invasion by Turkey in 1974 that put a halt to what had been a very active mining industry.
While copper is the main exploration target, it is noteworthy that gold was not historically exploited in Cyprus. Gold has been encountered in several locations in the exploration target area and is an important part of the exploration objective.
The company announced high grade polymetallic results from its 2020 drilling campaign and embarked in 2021 on an enlarged integrated geophysics, percussion and diamond drilling exploration campaign.
Chesterfield Resources is committed to world-class environmental standards in all of its operations that are focused on the exploration for copper, which is an essential metal to developing clean technology projects worldwide.
The Westline Trend
Recent drilling has identified a pronounced geological trend that controls several mineralised systems
