Chesapeake Gold Corp. is a development stage company that focuses on the discovery, exploration, and development of gold and silver deposits in North and South American. The company was founded in 2002 and is headquartered in Vancouver, Canada. It is listed on the Toronto Stock Exchange (TSX-V: CKG). The company's major projects include the Metates Gold-Silver Project in Mexico and the Talapoosa project in Reno, Nevada.

Chesapeake Gold shared the updates of the Metates Project recently through a series of press releases. The company has carried out 2,500m drilling and was able to recover 10t material. The drill results showed that the grade of the material is 18% higher than the block model predictions. The tests found significant intercepts graded at 1.8g/t gold and silver equivalent at a depth of 432m. This grade is double the average grade previously found at the Metates site.

The company is looking towards infill drilling to uncover even higher-grade material. This will allow the company to significantly improve its profitability as this will provide higher grade ounces at the same operating price. 

Chesapeake Gold has a stockpile of 18Moz Gold and 500Moz silver and is currently focused on adding more ounces to the bottom line through their drill program. Their CapEx project currently stands at $3.5Bn. The company is using the drill program to carry out the test work that would support the project plan. A detailed study is scheduled for release within the next two weeks.

In the past 6 months, extensive technical work is underway and the company is focusing on supplying the drill samples to the Vancouver lab for further testing. They are looking towards acquiring sulphides and oxidizing them into higher-grade material. 

Chesapeake Gold recently acquired Alderly Gold Corp. in a non-exclusive deal. The company intends to publish the details of the agreement after the test work has been concluded.

Chesapeake Gold seeks to scale the project, leading to a significant reduction in capital, optimized operating costs, and a lower environmental impact, which would directly facilitate the permitting process. Currently, the company is focused on the test work, which would support the PEA numbers and eventually carry out a PFS in Q4 2022.

0:00 - Introduction
0:30 - Press Release: Challenges of Scale & Metallurgy, so Why do More Drilling? 
8:04 - Technical Constraints: Progress Made & Expectations for the Near-Term Study
14:52 - Acquisition of Alderley Gold Corp.: Terms of Agreement
16:58 - Cash Position & Burn Rate
17:47 - Starter Project: Scale, Quantum, Infrastructure, & Importance of Study Results
24:18 - Timing of Deliverables: When to Expect a PFS?
26:14 - Can They Set up the Starter Project Without Alderley? 
27:23 - Initial Goals & Long-Term Outlook for Timing & Value Generation
32:50 - Base Recovery Level & Minimum Level to Claim Success
40:48 - What's to Come for Chesapeake Gold in the Next 12mths?