Chesser Resources: CHZ Further drilling results from the 100%...

Chesser Resources: CHZ Further drilling results from the 100% owned Kestanelik Gold Project in Turkey are due. The 4th phase drilling program with multiple RC rigs (30,000m planned drilling) is scheduled to commence in May. Results to date indicate a large high grade system at Kestanelik with the potential to host a significant million plus ounce resource. Drilling has delivered many high grade hits including recent results of 10.5m @ 8.3g/t Au and 11.5m @ 13.5g/t Au including 9.6m @ 16g/t Au. More than 80% of the high grade vein targets remain untested so the potential to grow the resource is very high. Drilling on a second project at Karaayi (about 60km Southwest of Kestanelik) is about to commence with a 2,000m program scheduled to start in late April. The new Project has the potential for bulk tonnage lower grade ore and is located 10km from the 1.3m ounce Kirazli project. News Due: Further drilling results from the 10,000m drilling campaign at the Kestanelik gold project which is due to be completed by the end of the quarter. Commencement of the next exploration program comprising 30,000m of RC and diamond drilling. Initial JORC resource estimate for Kestanelik. Price Target: Chesser is still above the downtrend line but has so far failed to move significantly higher, trading in a tight range between 76 and 80 cents. A break of 80 cents would give a target of 84.5 cents. There is further resistance at 87.5 and 90 cents but once 90 cents gets broken the gap between $1.07 and $1.08 looks good to be filled. Disclosure: Holding CHZ