Chesser Extends High-Grade Discovery at Diamba Sud with Widespread Intersections

BRISBANE, Nov. 24, 2020 - Chesser Resources Ltd. ("Chesser" or "the Company"; ASX:CHZ) is pleased to provide an update on drilling results from its flagship Diamba Sud Gold Project in Senegal, West Africa.

HIGHLIGHTS

Area D

• Drilling intercepted widespread intervals of thick, shallow, high-grade oxide mineralisation, significantly extending zones from previous drilling in multiple directions. Results include;

- 44m at 4.37 g/t gold from 18m, including

- 4m at 13.29 g/t gold from 20m
- 4m at 9.96 g/t gold from 54m, and
- 1m at 13.30 g/t gold from 60m

- 49m at 3.64 g/t gold from 10m, including

- 8m at 10.75 g/t gold from 34m

- 38m at 4.36 g/t gold from 2m, including

- 22m at 6.66 g/t gold from 10m,

- 24m at 2.87 g/t gold from 10m, including

- 2m at 12.0 g/t gold from 12m

- 17m at 1.90 g/t gold from 48m

• Deeper drilling returned sulphide mineralisation from structural zones and hydrothermal breccias in fresh rock as likely feeder zones to overlying oxide mineralisation. Results include;

- 17.9m at 2.36 g/t gold from 82.3m, including

- 0.95m at 19.40 g/t gold from 89.35m

- 5m at 3.57 g/t gold from 82m, including

- 0.9m at 12.80 g/t gold from 85m

- 14m at 2.34 g/t gold from 114m

"We are delighted to report very positive results from the first 11 of 27 holes drilled at Area D following the wet season. We have extended the thick oxide mineralisation by over 100m in multiple directions from the original discovery mineralisation with these step outs with more results pending. Deeper drilling has also intersected wide zones of mineralisation, with numerous mineralised structural zones pointing to likely controls on mineralisation. Results from the remaining program will assist to fully understand the controls of mineralisation. Whilst this discovery is still at an early stage, extensions to the thick oxide zones are very exciting. Results from an additional 16 holes from Area D are pending, as well as extensional drilling at Area A, which is ongoing. We are looking forward to releasing more results of this extensive program as they become available." commented Mike Brown, Managing Director and CEO of Chesser Resources.

Please refer to the original ASX announcement, dated 24 November 2020 for further information: https://www.investi.com.au/api/announcements/chz/a7d558e3-eba.pdf

https://www.chesserresources.com.au/

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SOURCE Chesser Resources Ltd.