-Chesser Resources Limited - Board Changes.
ENP Newswire - 22 October 2012
Release date- 19102012 - Chesser Resources Limited (ASX: CHZ) is pleased to announce two changes to its board of directors, effective on the 31st of October 2012.
Appointment of Mr Robert Reynolds as Non-Executive Chairman
Chesser is pleased to welcome Mr Robert Reynolds as its new Non-Executive Chairman. Mr Reynolds has over 30 years' experience in the mining and exploration industry. He has been involved with exploration, development and mining companies with operations in Australia, Turkey, South America, New Guinea, Africa, New Zealand, Vanuatu and Fiji. Those companies included Delta Gold Ltd, Hampton Gold Mining Areas PLC, Golden Plateau NL and Alkane Exploration NL.
Most recently, Mr Reynolds was Chairman of Avoca Resources Limited from its early days until the merger with Anatolia Minerals Limited of Canada in 2010. Following the successful merger, he was appointed Chairman of the merged entity, Alacer Gold Corp, majority owner of the 10 million ounce Copler gold deposit in central eastern Turkey. He resigned from Alacer in August 2011. Mr Reynolds is currently a director of Canadian companies Exeter Resource Corporation and Rugby Mining Limited and is Chairman of the Australian company, Global Geoscience Limited.
Appointment of Mr Peter Lester as Non-Executive Director
Chesser is also pleased to welcome Mr Peter Lester as a Non-Executive Director. Mr Lester has over 35 years' experience in the mining industry. Originally a Mining Engineer, he has held roles in operations, project management, corporate and financial advisory services and business development with more recent responsibilities including feasibility studies, acquisitions, capital raising and takeovers.
He has held senior executive positions with North Ltd, Newcrest Mining Limited, Oxiana Limited and most recently with Citadel Resource Group Limited as an Executive Director. Mr Lester is currently also a Non-Executive Director of Toro Energy Ltd, Castlemaine Goldfields Ltd, Accessio Resources Pty Ltd and Nord Gold NV.
Concurrent with the new appointments, two of the long-serving Directors of Chesser, Mr Stephen Evans and Mr Creagh O'Connor are to step down from their respective roles as NonExecutive Chairman and Non-Executive Director of the Company. 'These changes represent a milestone in the development of Chesser, as we now have a board with an even stronger track record of technical, financial and corporate development of billion dollar market capitalisation gold companies,' said Dr Rick Valenta, Managing Director of Chesser Resources.
'I look forward to working with Rob Reynolds, Peter Lester and the rest of the board as we continue to advance the exploration and future development at Kestanelik. On behalf of the board and shareholders, we would like to express our sincere appreciation to Stephen Evans for his leadership during his tenure as a director and non-Executive Chairman, and to Creagh O'Connor for his considerable contribution to the Company during his tenure as director.'
'It is a very exciting time to be joining the Board of Chesser in its evolution from the ranks of a junior explorer to a fully-fledged mining company,' said Mr Rob Reynolds, newly appointed nonExecutive Chairman. 'I look forward to working closely with Rick, the board, and the Chesser team as we take the Kestanelik project forward.
About Chesser Resources Limited
Chesser is an Australian-based ASX-listed exploration company (ASX: CHZ), exploring for gold and base metals in Turkey. The Company is currently conducting an aggressive, but focused, exploration program on its Kestanelik epithermal gold project. The Company's flagship project, Kestanelik, is situated in western Turkey, some 10 kilometres southeast of the Dardanelles, and enjoys good access together with excellent infrastructure.
It hosts low sulphidation epithermal quartz veining with identified highgrade gold mineralization and bonanza grades. Kestanelik's maiden inferred resource of 5.9 million tonnes at 2.4 g/t gold for a total of 462,000 oz at a 0.5 g/t gold cutoff is expected to grow with further drilling. 70% of the resource is within 50 metres of surface.
The Company is also pursuing exploration programs at the Karaayi property on a porphyry-style stockwork system prospective for gold-copper mineralization and has declared a 303,000 oz gold resource (91,000 oz Indicated and 212,000 oz Inferred) on its Sisorta project in north-eastern Turkey.
The Board and management of Chesser, backed by the Company's major shareholders, are committed to unlocking value from this highly prospective portfolio of projects and the Company is committed to advancing its existing portfolio while continuing to seek new advanced opportunities.
Rick ValentaTel: (+61 7) 3844 0613www.chesserresources.com.au
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((Distributed via M2 Communications - http://www.m2.com)).END.PUB430>PDOctober 22, 2012>JNTRAVEL BUSINESS REVIEW.PRICEDATENOT APPLICABLE.DAY
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