Chesterfield Resources said it had encountered 'significant intersections' of sulphide mineralisation at its Evlim target following percussion drilling over its Troodos West licence area in Cyprus.
Sulphides were encountered from approximately 33m to 54m below the surface, with another zone of sulphides encountered at 74m to 93m, the company said.
The intersections included 1.10 grams of gold and 27.9m of 0.97 grams of gold.
'The intersections, totalling approximately 40m, are by far the widest we have located so far. We have now drilled three target areas, have encountered sulphide mineralisation at all three and, importantly, at the predicted target horizons. This has added considerable confidence to our target modelling,' the company said.
The company would halt drilling to 'appraise testing a large anomaly extension at Evlim close to these intercepts,' Chesterfield said. 'The company is also preparing numerous further targets for percussion drilling, to be followed by a diamond drilling programme,' it added.
At 9:42am: (LON:CHF) Chesterfield Resources Plc Ord 0.1p share price was +0.78p at 6.03p