NEWS RELEASE
Symbol: TSX V-CKG
NR11-2007
October 10, 2007
CHESAPEAKE CONSOLIDATES A NEW SIGNIFICANT MINING DISTRICT IN VERACRUZ, MEXICO
Chesapeake Gold Corp. (“Chesapeake”) announces that it has acquired through purchase, joint venture and staking the
Tatatila project, a large, unexplored precious metal and polymetallic mining district in Veracruz state, Mexico. The
Tatatila project, located 50 kilometres north of Jalapa city, is a highly prospective district with numerous gold, coppergold, zinc-gold and iron skarns with associated polymetallic zones with silver. The project comprises thirteen contiguous
concessions totaling 29,500 hectares. Road access to the project is good.
The Tatatila project covers a 200 square kilometre district characterized by Cretaceous limestones and sedimentary rocks
affected by multi-phase intrusions. The main intrusive complex is more than 10 kilometers in diameter and consists of
granodiorites, quartz-diorites and granites of Tertiary age. Igneous activity generated intermittent hydrothermal events that
formed widespread skarn-type alteration zones along the contact between the calcareous and intrusive rocks. Porphyry
and epithermal occurrences have also been found in this district.
Reconnaissance evaluation of approximately 20 per cent of the district has identified 25 alteration zones hosting mainly
skarn mineralization. Preliminary exploration and channel sampling returned significant gold with associated copper
and/or zinc mineralization in thirteen zones and high silver in two zones with base metal values. The skarn mineralized
prospects are spatially associated within broad alteration zones that form corridors up to 6 kilometers long which are
related to deep seated regional structures. Although the copper, zinc and iron mineralized skarns show a zonation within
the district, gold is present in almost all of the prospects including one of the silver-rich, polymetallic replacement zones.
Prospect
Description
Rock chip Channel Samples
El Alto
Garnet skarn structure with pyrite and
chalcopyrite hosted in marbles. 250 meters long,
100 meters depth, 2-15 meters thickness
Two sections 75 meters apart.
5.0 m of 2.12 g/t Au; 27.3 g/t Ag and 1.65 % Cu
8.5 m of 1.65 g/t Au; 13.8 g/t Ag and 0.64% Cu
Cinco
Senores
Garnet endoskarn overprinting potassic
alteration and exoskarn zone, 800 meters long,
120 to 200 meters wide and more than 100 meters
depth.
150 meter wide section, sampled 25 meters apart:
19 m of 0.55 g/t Au; 8.74 g/t Ag and 0.19% Cu
18 m of 0.43 g/t Au; 4.75 g/t Ag and 0.13% Cu
27 m of 0.51 g/t Au; 6.92 g/t Ag and 0.20% Cu
33 m of 1.23 g/t Au; 9.2 g/t Ag and 0.19% Cu
Carboneras
Brown garnet skarn with hematite-magnetite and
pyrite, 250 meters long, 5 to 20 meters wide.
One sampling section:
15 m of 2.03 g/t Au and 6 g/t Ag
Santa Cruz
Brown garnet skarn with chalcopyrite, magnetite
and hematite cropping out sporadically in 500 by
300 meters area, thickness ranging from 5 to 35
meters.
Five sections taken 25-40 meters apart.
8.0 m of 1.10 g/t Au; 6.6 g/t Ag; and 0.91% Cu
33 m of 1.23 g/t Au; 6.9 g/t Ag; and 0.55% Cu
8.0 m of 1.24 g/t Au; 5.2 g/t Ag; and 0.27% Cu
11 m of 3.00 g/t Au; 4.0 g/t Ag; and 0.53% Cu
6.0 m of 3.10 g/t Au; 7.8 g/t Ag; and 0.96% Cu
La Tuerta
Green garnet-magnetite and pyroxene skarn.
Limited outcrop, one section.
9.0 m of 1.18 g/t Au; 6 g/t Ag; and 0.52% Cu
Concepcion
Silicified and pyritized intrusive with endoskarn
in contact with marbles.
One outcrop sampled.
6.0 m of 6.6 g/t Au
Esperanza
Pyroxene-magnetite-garnet skarn zone. Traced
over 600 meters long, 200 to 300 meters wide and
between 5 and 30 meters thickness.
Two sampling sections 450 meters apart.
12 m of 0.5 g/t Au; 2.6 g/t Ag; 0.4% Cu and 0.75% Zn
4.0 m of 3.1 g/t Au; 5.2 Ag; 0.8% Cu
La Zorra
Magnetite-garnet-pyrite skarn structure. 400
meters long, 5 to 15 meters wide, at least 50
meters depth.
One section sampled.
9.0 m of 1.9 g/t Au; and 0.26% Zn
Melany
Wide spread skarn zone strike traced over 300
meters long.
One showing of magnetite skarn sampled.
6.0 m of 1.5 g/t Au; 8 g/t Ag; 0.9% Cu and 0.12% Zn
Pilhua
Silicification zone with disseminated sulfides 1
kilometre long, 300 meters wide and 100 to 200
meters thick.
One outcrop sampled.
3.0 m of 47.8 g/t Ag; 3.24% Pb and 7.7% Zn
Marmolina
Replacement structure, at least 300 meters long
and 15 meters wide.
One section sampled.
13 m of 46.2 g/t Ag; 0.86% Cu; 1.30% Pb; 7.91% Zn
Cofrecito
Zone of green garnet skarn hosted in marbles.
500 meters long and 5 to 20 meters wide.
Two channel samples 450 meters apart.
6.0 m of 0.72 g/t Au, 9.5 g/t Ag, 0.18% Cu and 3.6% Zn
3.0 m of 1.4 g/t Au
El Dorado
Zone 200 meters long, 20 to 50 meters wide,
possibly connected to Santa Cruz and/or Cinco
Senores
One channel sample.
10 m of 1.0 g/t Au; 7 g/t Ag and 2% Cu
Acquisition
In consolidating the district, Chesapeake acquired seven concessions of a National Mineral Reserve totalling 2,757
hectares from the Consejo de Recursos Minerales de Mexico (CRM), a mining division of the Mexican government.
Chesapeake has agreed to payments totaling US$56,000 to the CRM over 3 years. In September, Chesapeake optioned
five additional concessions (1220 hectares) from Bell Resources Corporation (Symbol: BL-V) whereby a 90% interest can
be earned by making staged payments totalling US$1,410,000 and incurring US$1.4 million in exploration expenditures
over 4 years. Adjacent to and surrounding the negotiated concessions, Chesapeake acquired, through staking, one
concession encompassing 25,523 hectares.
In addition to advancing its world-class Metates gold-silver project, Chesapeake’s generative exploration programs will
continue to focus on the acquisition of strategic district scale land positions where future major discoveries may be found.
Management believes the number, extent, grade and size of the mineralized skarn prospects recognised todate in the
Tatatila project, provides an excellent opportunity to discover several large precious metal and/or polymetallic deposits in
this unexplored district. A detailed program of geological mapping and geochemical sampling is underway on the Cinco
Senores prospect in addition to a systematic regional evaluation of the remaining project area.
ALS Chemex is the analytical laboratory used for this project. Geochemical sample preparation is undertaken in
Guadalajara, Mexico, and the final analysis is completed in Vancouver, B.C. This new release has been prepared under
the supervision of Alberto Galicia, P. Geo, who serves as the qualified person for this project under NI 43-101.
For more information, please visit our website at www.chesapeakegold.com or contact investor relations at 604-731-1094.
CHESAPEAKE GOLD CORP.
“P. Randy Reifel”
______________
P. Randy Reifel
President
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