Chesterfield signs drilling contract for Troodos West

Chesterfield Resources announced the signing of a diamond drilling contract with GEOPS Bolkan on Wednesday.

The London-listed company said the drilling programme would include a minimum of 4,000 metres of diamond drilling on its Troodos West properties in the Republic of Cyprus, to explore primarily for copper and gold.

It said mobilisation had started, with drilling expected to begin by the end of September.

The board claimed the Cyprus Mines Service, the Department of Forests, the Water Development Department and local communities were “supportive” of its work programme.

Drilling would start at the Evloimeni prospect at Troodos West, before moving to adjacent targets.

Chesterfield explained that a review of historic data at Evloimeni highlighted the existence of Cyprus-type volcanic sulphide copper-gold-zinc-silver mineralisation.

It said new interpretation of airborne and ground geophysical data was underway, adding that an office was being established in Cyprus, and a local geological team being recruited.

“We are very pleased to be commencing our drill programme in Cyprus, following our recent £2m financing,” said Chesterfield executive chairman Martin French.

“The seven contiguous targets at Troodos West are highly prospective with evidence of mineralisation at surface, numerous historic mines, workings, drill holes and geophysical surveys.

“Permitting is proceeding at our Troodos North and Troodos East projects, which will add a considerable number of new brownfield targets to our drilling campaign.”