Reifel on Chesapeake Gold’s “world-class” gold, silver and zinc reserves
October 16, 2015 — Randy Reifel, President and Director of Chesapeake Gold Corp. (TSXV: CKG | OTCQX: CHPGF) in an interview with Tracy Weslosky, Publisher for InvestorIntel speaks about the Metate’s project in Western Mexico, which is one of the largest gold, silver and zinc reserves in the world.
Tracy Weslosky: You are one of the handful, three or four, of companies with one of the largest gold, silver and zinc properties in the world — can you give us an overview, please?
Randy Reifel: Yes, I would say there’s about a half a dozen big world-class projects like Metates. Metates has proven and probable reserves of over 18 million ounces of gold, 500 million ounces of silver and 4.2 billion pounds of zinc so it is world-class by any measure.
Tracy Weslosky: You did a NI 43-101 on this world-class property in 2013, can you tell me why we’re doing another prefeasibility study?
Randy Reifel: Well, big projects that become big mines have a big capital cost. Most of these big projects are located in remote locations and don’t have infrastructure so to achieve any kind of positive economics you have to build them to full design. In the case of Metates this study will show that you can economically build Metates small and grow big.
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Tracy Weslosky: Every shareholder I speak to often says that “Randy’s made us money in the past, we’re staying with Randy — we’re holding on to Chesapeake Gold right to the end.” Can you tell me a little bit more about your team because I think you’ve taken the same exploration team that you have used in the past with you to Metates?
Randy Reifel: I have the same team that was with me in Francisco Gold. Francisco Gold discovered two world-class mines, El Sauzal and Marlin. I have that core team with me in Chesapeake. It’s wonderful to have them still on the teams as l want to make our shareholders money.
Tracy Weslosky: Of course, you used them to sell previous exploration plays?
Randy Reifel: Yes, we sold Francisco Gold in 2002 and it was a result of their discovery and hard work that we had that reward.
Tracy Weslosky: Is this your plan for Chesapeake Gold? Are you planning on selling it?
Randy Reifel: That’s exactly right. We’re de-risking Metates to a point where we think it will become an attractive acquisition for an M&A or for strategic partner…to access the rest of this interview, click here
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