Chesapeake Gold (CHPGF) Stock News

Chesapeake Gold (OTCQX: CHPGF) provided updates on its proprietary sulphide leach technology development and Lucy project exploration. The company's third phase of Metates metallurgical testwork is progressing toward a prefeasibility study in 2026, with encouraging early results from large-diameter PFS columns and 26 variability columns.

The company has received industry interest for its Technology, with three third-party projects now undergoing testing. At the Lucy project, exploration revealed a new mineralized corridor in the Central Zone, with significant gold findings including 29 metres of 0.94g/t gold. The Western Zone showed promising copper grades, including samples with 2.0% copper over 3 metres.

Chesapeake Gold Corp. (OTCQX: CHPGF) has announced the adoption of a new "fixed up to 10%" stock option plan to replace its previous "rolling up to 10%" stock option plan. Under the new Fixed Plan, the company is authorized to issue up to 7,209,338 common shares through stock options granted to eligible persons.

The transition maintains all existing options under the Prior Plan, which will now be governed by the terms of the new Fixed Plan. The implementation remains subject to final approval from the TSX Venture Exchange.

Chesapeake Gold Corp. (CHPGF) has strengthened its Board of Directors with two significant appointments. Paul West-Sells, who brings over 25 years of mining industry experience including executive roles at Western Copper and Gold Corporation and senior metallurgist positions at major mining companies, was elected at the June 18 annual meeting. Jeff Stieber, appointed effective June 20, 2025, adds 19 years of finance and accounting expertise from various mining companies. The appointments coincide with the retirement of long-time director Chris Falck, who will continue as an advisor. West-Sells holds a Ph.D. in Metals and Materials Engineering and is an Adjunct Professor at UBC, while Stieber is a Certified Public Accountant and Financial Modeling & Valuation Analyst.

Chesapeake Gold has completed a non-brokered private placement with Eric Sprott's corporation 2176423 Ontario Ltd. for gross proceeds of $4.44 million. The placement consisted of 3.7 million units priced at $1.20 per unit, with each unit comprising one common share and one-half share purchase warrant. Each warrant is exercisable at $1.65 per share for three years. Following the placement, Sprott's ownership increased from 13.4% to 17.9% of outstanding shares (19.9% on partially diluted basis). The proceeds will fund Chesapeake's proprietary oxidative leach technology advancement, ongoing exploration including the Lucy project, and working capital needs. The securities are subject to a hold period until October 14, 2025.

Chesapeake Gold Corp (CHPGF) has announced a non-brokered private placement of 3.7 million units at $1.20 per unit, raising $4.44 million. Eric Sprott, through his corporation 2176423 Ontario Ltd., is the sole subscriber. Each unit includes one common share and a half warrant, with each full warrant exercisable at $1.65 for three years. Post-placement, Sprott will control approximately 17.9% of outstanding shares (non-diluted) and 19.9% on a partially diluted basis. The proceeds will fund the company's proprietary oxidative leach technology testing at Metates, ongoing exploration including the Lucy project, and working capital. The private placement requires TSX Venture Exchange approval and includes a four-month hold period.

Chesapeake Gold Corp (OTCQX: CHPGF) announced the immediate resignation of Alan Pangbourne from its Board of Directors. Mr. Pangbourne is stepping down to pursue other opportunities. The company, which operates the Metates and Lucy Projects and develops proprietary oxidative leach technology, expressed gratitude for Mr. Pangbourne's services and wished him well in his future endeavors.

Chesapeake Gold (TSXV: CKG) (OTCQX: CHPGF) has appointed Justin Black as Chief Metallurgical Officer effective February 26, 2025. Black brings over 14 years of experience in process systems design and optimization for mining operations.

Black's background includes roles as process manager at Golden Vertex , process engineer at M3 Engineering for 8 years, and Superintendent of Technical Services at Hycroft Mining His expertise spans crushing, milling, flotation, refining, and heap leach oxidation processes.

The company has granted Black 100,000 stock options at C$1.00 per share, expiring February 26, 2030, with 25% annual vesting starting February 26, 2026. The appointment aims to advance Chesapeake's proprietary sulfide leach technology for testing refractory sulfide deposits.

Chesapeake Gold Corp. (TSXV: CKG) (OTCQX: CHPGF) has announced a stock option grant to company officers. The grant includes options to purchase 65,000 common shares at an exercise price of C$1.80 per share. These options have a five-year term expiring November 5, 2029, and will vest annually at 25% starting November 5, 2025.

Chesapeake Gold Corp. (TSXV: CKG) (OTCQX: CHPGF) has announced positive metallurgical results for its Metates gold-silver project in Durango State, Mexico. The company's proprietary oxidative leach technology achieved gold recovery rates exceeding 70%, providing a foundation for a pre-feasibility study (PFS). Key findings include:

- Gold recovery increased from 33% with no pre-oxidation to ~74% after 204 days of oxidation
- Silver recoveries improved by over 20% after 146 days of oxidation
- The company has filed a new patent application based on innovative test work

Chesapeake plans to conduct further tests using larger diameter columns to finalize conditions for pilot plant and commercial operations. The company is also exploring opportunities to apply its technology to other sulphide gold deposits globally.