TIDMCHF
RNS Number : 9145A
Chesterfield Resources PLC
04 June 2021
Chesterfield Resources / EPIC: CHF / Market: LSE / Sector:
Mining
4 June 2021
Notice of AGM
Chesterfield Resources plc gives notice that its Annual General
Meeting ('AGM') will be held on June 30th at 11am at 7-9 Swallow
Street, London W1B 4DE.
Copies of the Notice of AGM, together with the Form of Proxy and
the Annual Report will be posted to shareholders and will be
available to view on the Company's website shortly at
www.chesterfieldresourcesplc.com
Follow us on Twitter at @ChesterfieldPlc
About Chesterfield Resources
Chesterfield Resources is a copper-focussed exploration company
with a project in Cyprus and the proposed new Adeline copper
project in Labrador Canada, contingent, among other things, upon
the publication of a prospectus. In December 2020, Polymetal
International, the FTSE100 mining group, took a 23% strategic
investment in Chesterfield via a placing of new shares. Upon
completion of the acquisition of the project in Labrador, Altius
will similarly become a strategic partner, with a 10% holding in
the Chesterfield, and a 20p warrant over a further 10% of the
company.
The exploration team is led by two highly experienced industry
geologists Neil O'Brien, formally SVP Exploration & New
Business Development, Lundin Mining, and Dave Cliff, previously
Head of Exploration Europe, Rio Tinto.
In Cyprus the company holds the largest mineral exploration
licence area of any operator on the island.
Cyprus is regarded as a high-quality exploration location. It is
a member of the EU, and its legal system is based on English common
law. An opportunity exists because there has been minimal
exploration activity on the island in the last 46 years since the
invasion by Turkey in 1974 put a halt to what had been a very
active mining industry.
The current focus of exploration is in the Troodos West group of
licences belonging to the company, with around 30 defined targets
in an area measuring 10km by 10km. The objective is to discover
several VMS (volcanogenic massive sulphide) deposits in close
proximity to each other to create a mining project with a
centralised processing unit.
While copper is the main exploration target, it is noteworthy
that gold was not historically exploited in Cyprus . Gold has been
encountered in several locations in the exploration target area and
is an important part of the exploration objective.
The company announced high grade polymetallic results from its
late season 2020 drilling campaign and is now engaged in an
enlarged integrated 2021 geophysics, percussion and diamond
drilling exploration campaign. The company will commence its
diamond drill programme in one month.
In Canada, the Adeline copper project is located within the
western half of the Central Mineral Belt, a 260 km long metal-rich
belt located in Central Labrador, eastern Canada. The Adeline
property is comprised of five contiguous mineral licenses totalling
12,925 ha (129.3 km2), covering the full extent of the Seal Lake
basin, a nearly 40 km long by 10 km wide geological structure which
contains some 250 copper prospects. The project is close to the
regional service hub of Goose Bay.
The Seal Lake basin has seen extensive regional exploration over
the years resulting in a rich exploration database. Trenching and
channel sampling has established the presence of laterally
continuous high-grade copper beds. However there has been
relatively little drill testing, largely due to the lack of road
access. Where sulphide mineralization becomes massive the grades
are extremely high, commonly 10-30% Cu due to the high tenor of
chalcocite-bornite.
An initial field season is already being planned to investigate
prospects and more specific field-based targeting methods based
upon a re-evaluation and re-modelling of the regional exploration
datasets with the latest visualization software tools and with
expert consultants who have decades of experience in this belt.
This is expected to generate a significant pipeline of quality
drill targets to test for significant extents of high-grade
copper-silver mineralized grey beds.
Chesterfield Resources is committed to world-class environmental
standards in all of its operations to mine copper, which is
essential to developing clean technology projects worldwide. The
company hopes to develop
industry and opportunities for the benefit of Canada and the Republic of Cyprus.
Chesterfield has embarked on a strategy of acquisition to take
advantage of mega-trend of electrification and copper demand.
Further acquisitions are expected to significantly enlarge its
exploration footprint.
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
**ENDS**
For further information, please visit
www.chesterfieldresourcesplc.com or contact:
Chesterfield Resources plc:
Martin French, Executive Chairman Tel: +44(0) 7901 552277
Panmure Gordon (UK) Limited Tel: +44 (0)207 886 2500
(Joint Broker):
John Prior & Hugh Rich
Fox-Davies Capital Limited
(Broker): Tel: +44 ( 0)20 3884 8450
Daniel Fox-Davies
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