Chesterfield Resources PLC (LON:CHF) told investors that recently restarted percussion drilling at the Troodos West licence area has encountered significant intersections of sulphide mineralisation.
Two intersections were encountered at the Evlim target in percussion holes designed to search for sulphides and final target definition ahead of diamond drilling.
The company described percussion drilling - in which mineral bearing rocks are crushed - as the final phase of test work before to more accurate drilling takes place.
"We have now drilled three holes on the Evlim target and all have returned strong intersections at the anticipated depths, which is very encouraging,” said Martin French, executive chairman.
“This is useful as we now know where to position the diamond drill with a higher level of confidence of intersecting deposits in order to determine measured thickness, mineral composition and grade.
“We expect to commence diamond drilling later in the year.
“We have halted our percussion drilling to analyse the work to date and determine the next drill locations."
The Evlim target comprises a number of VMS (Volcanogenic Massive Sulphide) targets, they are described as shallow down to around 200 metres underground.