Chesterfield Resources increases exploration permits portfolio at Troodos West licence package in Cyprus

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Chesterfield Resources said it was increasing its portfolio of exploration permits at its Troodos West licence package in Cyprus.

The company said it had now applied for two more licenses to expand its exploration footprint in the area. The move followed the two other licences granted so far this year, Filousa and Lysos-Kinousa.

After an initial exploration assessment of its Troodos East licence area, the company had decided to let this licence lapse. Similarly, some land had been conceded in Troodos North.

Chesterfield also said it had decided, as part of its planning and growth management, it would be necessary to recruit a full-time chief operating officer for its projects in Cyprus for 2021 and beyond.

'The overall impact of these land package changes is a greater emphasis on Troodos West as Chesterfield prepares for the next stage of its exploration and development programme in 2021,' the company said. 'The company also plans commence new phases of exploration work at the other two licence areas next year.'

At 9:21am: (LON:CHF) Chesterfield Resources Plc Ord 0.1p share price was +0.5p at 9.75p


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