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Friday, 23rd March 2007 (2999 views)

Chesapeake Gold Corporation has just announced a new agreement which will see it acquire a new gold project in the centre of Nicaragua.

The Santo Domingo gold project is just 130 kilometres from Managua in a north-easterly direction and it hosts the same sort of important epithermal gold mineralisation as the nearby La Libertad deposit.

Since 1980 the Santa Domingo mine has been owned by a co-operative of miners which has reported production of about 14,000 ounces of gold from many small workings which are scattered among the 650 hectare area of the concession.

Now the company is concentrating on identifying sub-parallel mineralised structures and so far eight major ones have been found. They vary from between two and 30 metres in width and carry on continuing for up to 3.5 kilometres.

Highlights from grading work include highs like 230 grams of gold per tonne and 200 grams of gold per tonne.

Chesapeake staked a nearby site called La Union back in 2003 which measures 24,500 hectares and surrounds Santo Domingo.

 

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