Chesapeake Gold of Canada Launches 5,000-Meter Drilling Program at Lucy Gold Project in Mexico

en.Wedoany.com Reported - On November 2, Chesapeake Gold Corp. of Canada launched a 5,000-meter diamond core drilling program at its Lucy gold project in central Sinaloa State, Mexico, with the first rig now in operation. The company has completed the collection of more than 1,000 surface soil and rock geochemical samples, including 622 new samples collected in 2026 across the Discovery and Central areas. The latest exploration has expanded the surface footprint of potential gold mineralization from 700 meters to 2,000 meters and identified two offset mineralized corridors.

The new drilling program is fully funded and will use HQ-size core drilling. At the Discovery mineralized corridor, approximately 25 holes totaling 2,000 meters are planned, with infill drilling at 50-meter spacing along the 700-meter identified mineralized strike, plus step-out drilling extending up to 100 meters along strike and to depths below 150 meters, to collect data for a maiden mineral resource estimate.

The remaining 3,000 meters will target new exploration targets. At the Central area, 8 holes totaling approximately 800 meters are planned to test a mineralized target located about 600 meters northwest of the Discovery corridor, where surface gold anomalies extend more than 1,000 meters. An additional 6 holes totaling 2,200 meters are planned in the Discovery and Western areas to test two subsurface anomalies identified by induced polarization, resistivity and magnetic surveys.

Latest trenching and rock channel sampling returned a 17.5-meter mineralized interval at the Central corridor averaging 0.87 g/t gold, 27 g/t silver, 0.20% copper and 1.16% zinc, including a 7.5-meter section grading 1.97 g/t gold, 57 g/t silver, 0.42% copper and 2.44% zinc. The Discovery corridor returned trench results of 40.5 meters averaging 0.22 g/t gold, including intervals of 2.5 meters at 1.49 g/t gold and 1.5 meters at 1.39 g/t gold.

Soil, trench and rock samples from the Western area show an increasing trend in base metal content. The company will combine the results of the 2018 induced polarization and resistivity surveys to further test the potential for a subsurface porphyry-style mineralized source. First assay results from this drilling program are expected in the first quarter of 2027, and the company will release data in batches based on laboratory results.