In November 2021, Chesterfield concluded a successful diamond drill programme on various areas of historic drilling on its Troodos West licence area in Cyprus. Assay results in December 2021 and February 2022 significantly advanced the prospectivity of four targets, Westline, Orchard, Evlim and Evlim South. It has become increasingly clear that these targets are controlled by a geological 12km long trend that runs from the large historic open pit called Limni, in the North, to the Westline target area in the south, where the trend joins the dominant Kinousa fault in the area (see below figure). This project area is located on the southwestern margin of the Troodos Massif in an underexplored area of the prospective VHMS stratigraphy.

This is a major evolution in our exploration programme in Cyprus. We have named this the “Westline Trend”. As well as the four targets recently drilled, it also comprises the system underneath an historic satellite mine called Evloimeni, which was drilled in 2018. The best Chesterfield drill hole from each target, together with gold and copper equivalent grades to provide a snapshot of the trend, is tabulated below. Each of the five targets so far discovered on the Westline Trend are further detailed below.

In light of these strong drilling results, the company has commissioned a study to remodel geophysics and geological data from the area to identify further targets along the trend, as well as further analysis of each of identified mineralised systems.

The Westline Trend

Summary of the best intercepts in each of the five target areas along the Westline Trend (the holes at Orchard, Evlim and Evlim South are those newly assayed, while the hole at Westline was announced in December)

1. Assumptions used in USD for the copper and gold equivalent calculations were metal prices of Au @ $1897/oz, Ag @ $23.97/oz, Cu @ $4.50/lb, Zn @ $1.64/lb and recovery is assumed to be 100% as no metallurgical test data is available.

In December 2021, Chesterfield reported assay returns from recent diamond drilling that established the discovery of a gold-mineralised system in the Westline target at its Cyprus Troodos West project.

Thick and locally high-grade gold intersections from recent drilling provided evidence of the gold-enriched mineralised system so far covering approximately 220 m by 300 m in area, and open on three sides.

Highlights of the assay returns included 21.40 meters grading 1.75 g/t gold (from 98.70 meters, downhole), and within this a high-grade zone of 3.30 meters grading 6.55 g/t gold and 90.35 g/t silver (from 100.20 meters downhole), in drill hole 21WL03.
The drilling was testing for an extension of a gold-mineralised zone that was identified through compilation of archive work and nearby historic drilling. In combination, 15 contiguous drill holes outline a continuous, thick, shallowly dipping and tabular body of gold mineralisation, that is also strongly anomalous in copper and zinc.

The gold and silver mineralisation occurs within a stratabound zone of brecciated and clay altered basalt. The mineralised body dips at a shallow angle towards the southwest. The zone of alteration and brecciation, which is tentatively interpreted to be hosted within a debris flow preserved beneath a thick, impervious lava flow unit, also contains anomalous copper and zinc values. Follow up analytical work is currently being carried out by the technical team to determine vectors for concentrated centers of copper-zinc but also additional gold-silver mineralisation.

Oblique view of the Westline Target Area showing 2021 and historic diamond drilling

In 2013, the first phase of diamond drilling at this target was undertaken by Northern Lion Gold Corp. where three holes intersected this newly discovered mineralisation. In 2018, Chesterfield Resources designed a diamond drilling program to confirm these results and test for an extension to the known historic mineralisation.

The 2018 drilling confirmed an extensive zone of gold and silver mineralisation with anomalous copper and zinc. The 2021 drilling was designed to step out from the known mineralisation and the most recent results indicate exciting potential for the currently identified mineralised body to further thicken, develop enhanced gold and silver contents, and possibly zone into copper-zinc massive sulphides.

2021 Drill Results

• 21WL03: 21.40 m @ 1.75g/t Au, 19.97g/t Ag from 98.70m
  • Incl. 3.30 m @ 6.55 g/t Au, 90.35 g/t Ag from 100.20 m
• 21WL02: 10.15 m @ 0.82 g/t Au, 6.01 g/t Ag from 96.00 m
  • Incl. 5.75 m @ 1.34 g/t Au, 6.94 g/t Ag from 100.40 m

Other Drill Results

• MVDD13-02: 14.15m @ 2.12 g/t Au, 16.91 g/t Ag, 0.54% Cu, 3.25% Zn from 89.90m
• 18MV06: 10.45 m @ 3.83 g/t Au, 24.11 g/t Ag from 100.00 m

Map showing drill holes with summary intercepts from the Westline Target

The Orchard prospect is located 2.4 km SSE of Evlim, along the Westline Trend. The prospectivity of the target area was originally highlighted through fieldwork and the presence of a localised, patchy gossan adjacent to a significant structure. A single diamond drill hole, in 2018, had targeted the same structure and intercepted encouraging alteration:

• 18AS01: 1.10 m @ 3.06 g/t Au, 29.20 g/t Ag, 0.11% Cu, 1.14% Zn, Pb 1.84% from 78.40 m

In 2019, pXRF soil sampling data helped to constrain a 200-metre-long Zn anomaly, trending NNW-SSE along the Westline Trend. With additional geophysics (gravity and AMT) it was determined that the 2018 diamond drilling may have stopped short of testing a deeper zone of mineralisation. With increased targeting confidence coming from the 2021 geophysical campaigns, drilling was designed to test deeper and intercepted three separate gold-rich polymetallic mineralised zones: 

• 21OR01: 6.70 m @ 0.73 g/t Au, 52.50 g/t Ag from 122.50 m
• 21OR01: 24.05 m @ 1.69 g/t Au, 5.85 g/t Ag, 0.11% Cu, 1.48% Zn from 172.35 m
  • Incl. 5.70 m @ 2.27 g/t Au, 6.32 g/t Ag, 0.42% Cu, 5.99% Zn (Cu Eq 4.05%) from 185.50 m
• 21OR01: 12.35 m @ 0.75 g/t Au, 3.45 g/t Ag, 0.11% Cu, 0.76% Zn from 207.75 m

The mineralisation in 21OR01 consists of semi-massive sulphides (sphalerite-pyrite-chalcopyrite) hosted by an intensely quartz-carbonate-clay altered pillow basalt breccia and is interpreted to be a stratabound zone of mineralisation with potential for significant extensions. Follow-up work on the many collected data sets is currently being undertaken to identify potential extensions of this gold-rich polymetallic mineralisation.

Chesterfield’s 2018 and 2020 diamond drilling at the Orchard target area

The Evloimeni prospect is located 1.1 km from the Limni mine, where 8.11 Mt at 1.1 % copper were reportedly mined along the same prospective trend. Evloimeni is part of the 100% owned Limni Exploration Permit, encompassing the Evloimeni open pit mine that historically produced 63 kt @ 0.68% copper. Chesterfield has identified Evloimeni as an Au-Ag-Cu-Zn system, with encouraging historic drill results. 

Historic drilling (unverified archival data) by the Cyprus Sulphur and Copper Corporation in the 1950s highlighted:

• CD-E1: 16.8 m @ 0.69 g/t Au, 3.74 g/t Ag, 0.94% Cu, 1.04% Zn from 4.6 m
  • Incl. 9.1 m @ 0.8 g/t Au, 3.62 g/t Ag, 1.27% Cu, 1.34% Zn from 10.7 m
• CD-E15: 30.5 m @ 0.55% Cu, 2.2% Zn from 1.5 m
  • Incl. 21.3 m @ 0.72% Cu, 2.93% Zn from 1.5 m
  • Incl. 10.7 m @ 0.89% Cu, 4.56% Zn from 1.5 m

Historic drilling by Northern Lion Gold Corp.:

• 11EV01: 42.0 m @ 0.7 g/t Au, 1.86 g/t Ag, 0.11% Cu, 0.11% Zn from 8.4 m 
  • Incl. 24.3 m @ 1.3 g/t Au, 3.51 g/t Ag, 0.1% Cu, 0.1% Zn from 8.4 m 

During Q4 of 2018, the company conducted an initial diamond drilling program comprising of 6 holes to test the old Evloimeni mine area. The initial fence of holes confirmed the presence of near-surface gold-rich mineralisation over 160 m, within the target area.

2018 Drill Results:

• 18EV01: 27.93 m @ 0.97 g/t Au from 13.20 m
• 18EV02: 29.80 m @ 1.10 g/t Au, 0.28% Cu from 8.75 m
  • Incl. 11.50 m @ 1.9g/t Au from 11.30 m
  • Incl. 6.10 m @ 1.25% Cu from 25.30 m

Follow-up diamond drilling in 2020 was testing for a northwestern extension to the encouraging mineralisation intercepted in the 2018 drilling. The results of the 2020 diamond hole identified the same near-surface gold-rich mineralisation continuing out in this direction. 

2020 Drill Results: 

• 20EV01: 8.15 m @ 1.19 g/t Au, 5.54 g/t Ag, 0.28% Cu, 2.51% Zn from 13.70 m and 7.15 m @ 0.9 g/t Au, 4.09 g/t Ag, 0.54% Cu, 0.28% Zn from 35.50 m

Diamond drilling at the Evlim South target followed on from the encouraging gold results in the 2020 and 2018 diamond drilling. A significant focus was placed on targeting extensions to this known gold mineralisation. The drilling stepped out to the south and southwest and identified that the historic near-surface gold mineralisation from previous programs continued at depth in these directions. Mineralisation is associated with polymetallic quartz veining and zones of silica clay alteration within pillow basalts. 

2021 Diamond Drilling at Evlim South:

• 21EV07: 41.35 m @ 0.54 g/t Au, 4.87 g/t Ag from 56.00 m
  • Incl. 21.50 m @ 0.85 g/t Au, 7.86 g/t Ag from 59.00 m
  • Incl. 14.00 m @ 1.12 g/t Au, 10.35 g/t Ag from 59.00 m
• 21EV10: 12.85 m @ 0.84 g/t Au, 5.07 g/t Ag from 52.55 m

The Evlim target is located between the historic Evloimeni and Limni mines (hence the abbreviated name “Evlim”).

Following on from the encouraging gold results at Evloimeni (during the 2018 Diamond drilling), the company conducted mapping of adjacent areas. Combined with archive data, historical drilling and field mapping, the technical team has identified a significant nearby structure that suggests this copper and gold system was downfaulted and continued at depth to the west, at Evlim. 

Historic drilling:

• EW6: 11 m @ 0.4% Cu, 5.6% Zn from 46 m

In 2019 IP survey was commissioned between Evloimeni and Limni mine to test this highly prospective zone. As the initial results of the IP survey were encouraging, the company conducted further geophysical works on the project. 

2020 Drill Results: 

• 20EV03: 11.60 m @ 2.53 g/t Au, 8.94g/t Ag, 0.65% Cu, 0.97% Zn (Cu Eq 2.63%) from 147.90m 
  • Incl. 2.65 m @ 2.95 g/t Au, 30.50 g/t Ag, 2.79% Cu, 3.84% Zn (Cu Eq 6.23%) from 148.50m

2020 drill results at Evlim clearly indicated a vectoring towards a more massive and higher-grade VMS-type sulphide mineralisation. To further test the area at Evlim, Chesterfield commenced diamond drilling in 2021, targeting both step-outs from the promising intercepts of the 2020 diamond drilling and lineaments identified to have high potential to be associated with mineralisation, derived from analysis of gravity data residuals. The results of this drilling highlighted further gold potential, extending the known area of gold mineralisation between Evloimeni mine, Evlim South and Evlim to over 270 m (north-south) by 300 m (east-west).

2021 Diamond Drilling Results:

• 21EV08: 21.90 m @ 1.60 g/t Au, 3.47 g/t Ag from 134.00 m 
  • Incl. 9.50 m @ 2.50 g/t Au, 4.56 g/t Ag from 138.80 m 
  • Incl. 2.40 m @ 5.41 g/t Au, 2.41 g/t Ag from 145.90 m 

Geological Section of the Evlim Target