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Chesapeake's Metates Pre-Feasibility Study to Be Released in January

Chesapeake Gold Corp. (CKG.V) announced today that a pre-feasibility study on its 100% owned Metates project located in Durango State, Mexico will be released in January.

The Metates project is one of the largest undeveloped gold-silver projects in the Americas with a forecast annual production of 759,000 ounces of gold and 19,959,000 ounces of silver over a 19 year mine life based on the Preliminary Economic Assessment released by M3 Engineering & Technology in March 2011.

The study that is near completion will be based on the same 120,000 tonnes per day processing rate but incorporate optimized processing circuits and site layouts as well as lower energy costs.

CKG shares rose 50 cents to $8.45.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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