Date: June 7, 2021
Chesapeake Gold is focused on the discovery, acquisition and development of major gold-silver deposits in North and South America. Chesapeake's flagship asset is the Metates project located in Durango State, Mexico. Markedly, Metates hosts one of the largest undeveloped gold-silver-zinc deposits in the Americas with over 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.
Few world class open pit mines have low cost, scalable development options. Metates benefits from its highest ore grade early in the mine life. This a low strip ratio and close proximity to key existing infrastructure. Chesapeake has access to a proven and innovative precious metal processing technology. This can develop Metates as a sulphide heap leach operation.
Relative to conventional flowsheets using autoclave plants for refractory ore bodies, the new production path for Metates will realize lower capital and processing costs, stronger project economics and a smaller environmental footprint. Chesapeake will also strategically seek opportunities in the Americas with the vision to emerge as a multi-mine gold and silver producer.
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