CKG news.
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - July 7, 2006) - Chesapeake Gold Corp. ("Chesapeake") (TSX VENTURE:CKG) is pleased to report the results of an ongoing program of semi-detailed mapping and sampling on its recently discovered, 100% owned, Rio Minas property in Oaxaca state, Mexico. Surface mapping data and sampling results strongly indicate the presence of district-wide skarn mineralization in the Rio Minas area. To date, five major zones of copper-silver-zinc mineralization have been recognized in the district.
On a regional scale, the Rio Minas property occurs within a hundred kilometer-long, NW trending structural belt hosting several skarn prospects and other more advanced exploration projects such as La Poly (silver-copper), Las Valencias (copper-gold), Cerro Minas (copper-silver), Cobre Grande (copper-silver) and La Calavera (copper-silver-gold). Regional reconnaissance has delineated an extensive zone of intrusions along this belt that have affected the limestone rocks generating numerous skarn occurrences over an area of more than 100 square kilometers around Rio Minas.
At Rio Minas, the skarn zones are associated with a large circular feature, about 5 kilometers in diameter that is believed to represent the surface expression of a major intrusive stock underlying the calcareous rocks. The mineralization is hosted in a series of altered limestones and calcareous sediments that are exposed in several small eroded windows cropping out where the rock sequence has been dissected to lower levels. Two types of mineralized settings can be recognized, skarns replacing limestone beds, and structurally, controlled skarn zones occurring within faults and fractures. The five major zones identified have been found within a 6 kilometer long, NE trending corridor associated with a NE-trending regional fault system that coincides with the eastern portion of this circular feature.
To date, Chesapeake has undertaken a detailed mapping and sampling program on one zone, La Zapoteca. The mineralization at La Zapoteca occurs as a copper-silver green garnet exoskarn surrounded by a broad alteration envelope that ranges outwards from strongly silicified limestones to marbles. Continuous rock channel samples taken across a 400 meters long, 100 meters wide outcrop exposure, has returned the following results. The Zapoteca zone remains open along strike and laterally.
MAIN ZONE
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Length (m) Copper (%) Silver (g/t)
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63 0.90% 75
9 2.80% 52
27 0.27% 8
27 0.54% 31
57 0.54% 33
21 0.51% 18
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Poorly exposed, sporadic showings of garnet skarn mineralization were also discovered 100 meters further to the east and 120 meters to the west of Zapoteca's main zone. On the eastern flank, the outcrops were mapped in an area 200 meters by 200 meters within an anomalous envelope of silicified limestones and marbles that overlies the copper-silver mineralization. Channel samples collected from this particular area are summarized below. To the west, an initial channel section returned 24 meters of 0.3% copper, 23 g/t silver and 0.57 % zinc.
EAST ZONE
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Length (m) Copper (%) Silver (g/t)
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12 0.59 43
6 2.70 147
3 0.54 54
18 0.46 30
6 0.47 10
6 0.50 10
3 0.57 70
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The geometry and geological characteristics of the La Zapoteca copper-silver skarn suggest that the above three different mineralized zones may be interconnected below the overlying envelope of anomalous altered rocks. La Zapoteca has the potential to develop into a significant, bulk tonnage, polymetallic deposit.
To view the geology map of the La Zapoteca copper-silver skarn, please click the following link: www.ccnmatthews.com/docs/Mapa%20PR-E.jpg
Besides La Zapoteca, four other prospective zones: El Camino, Rio Minas Creek, La Victoria and La Valentina were identified within the Rio Minas district. El Camino hosts several manto-type occurrences of zinc-silver-copper skarn. Rio Minas Creek is centered on a copper-silver-zinc garnet skarn band that averages 10 to 20 meters in width and extends discontinuously for several hundred meters along strike. Consecutive channel samples taken across one outcrop returned a 9 meter section of 2.7% copper, 34 g/t silver and 0.24% zinc. At La Valentina and La Victoria, the areas of interest are dominated by zones of intensely altered calcareous rocks, which are representative of the mineralized external parts of the skarn system.
Overall, the regional exploration and sampling work completed on Chesapeake's 3,650 square kilometers land package in eastern Oaxaca state have resulted in the discovery of multiple mineral targets that warrant more detailed follow-up work. Moreover, two new mineralized zones have just recently been identified further to the north and southeast of Rio Minas, where exploration work is ongoing.
ALS Chemex is the analytical laboratory used for this project. Geochemical sample preparation is undertaken in Guadalajara, Mexico, and the final analysis is completed in Vancouver, B.C. Mr. Andris Kikauka, P. Geo, is the qualified person under National Instrument 43-101 on the project.
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