Chesapeake Gold

Chesapeake Gold offers a compelling investment opportunity with its transformed Metates Project, which ranks among Mexico's largest undeveloped gold-silver deposits. The 2021 Preliminary Economic Assessment demonstrates a 31-year mine life with average annual production of 147,000 gold-equivalent ounces, peak production potential of 303,000 ounces, and a pre-tax NPV of US$1.14 billion at a 5% discount rate. The feasibility study highlights an internal rate of return of 35% and payback period of 2.5 years, underpinned by robust economics at gold prices of US$1,600/oz and silver at US$22/oz.​

With an estimated all-in sustaining cost of US$749 per ounce of gold, Chesapeake stands out for its cost efficiency and margin protection. The company's proprietary oxidative leach technology provides a competitive moat, unlocking refractory gold deposits that represent 25% of global gold reserves but cannot be processed through conventional methods. This technological advantage positions Chesapeake to capture significant value from the US$1.7 trillion refractory gold market.​

In addition to its economic potential, Chesapeake benefits from a well-established Mexican operating team with decades of community relationships. The company's commitment to environmental innovation, including 81% lower energy consumption and 91% reduced greenhouse gas emissions compared to autoclave processing, positions it as a responsible mining operator. The recent Lucy oxide gold discovery in Sinaloa, with intercepts up to 6.11 g/t gold and 97% metallurgical recoveries, provides additional near-term value catalysts.​

Chesapeake Gold Corp. is led by a seasoned management team with deep expertise across refractory ore processing, project development, and capital markets. Interim CEO Jean-Paul Tsotsos brings over 15 years of mining corporate development experience, previously serving in Hudbay Minerals' Corporate Development team where he played integral roles in the Snow Lake base metal to gold transition, Copper World consolidation, and Mason Resources acquisition. His background includes BMO Capital Markets Metals & Mining Equity Research and geological consulting, complemented by an MBA specializing in Natural Resources from the University of Alberta and registration as a Professional Geoscientist.​

Executive Chairman Randy Reifel contributes 36 years as a senior exploration executive, having founded and developed Francisco Gold Corp. where he led the El Sauzal and Marlin gold discoveries to a $390 million sale to Glamis Gold in 2002. His strategic leadership previously guided Carson Gold Corp. to acquisition following his early recognition of Venezuela's Kilometer 88 gold district.​

Interim CFO Navin Sandhu provides extensive public company financial management through Nava Financial Inc., specializing in CFO services for Canadian listed companies. His background includes audit management with deep IFRS expertise across junior mining, technology, and life sciences sectors, holding a B.Acc from BCIT and CPA designation.

Chesapeake Gold Corp. is executing a comprehensive growth plan focused on advancing Metates to production while emphasizing technological innovation and sustainability. The company is completing the third phase of oxidative leach test work, including large-diameter column testing, to support pre-feasibility study initiation in 2025. This development timeline supports a significant 31-year mine life, establishing Metates as a major long-term gold-silver operation.​

Environmental stewardship is central to Chesapeake's strategy, with the company pursuing Green Gold certification through its tailings-free heap leach approach and renewable energy integration. Through active engagement with local communities and regulatory authorities, Chesapeake ensures its development plans meet rigorous environmental standards while advancing the San Vicente 3 concession resolution. The Lucy project provides substantial exploration upside, with a 700-meter mineralized corridor open in all directions and new western zone skarn discoveries showing copper-gold-silver mineralization.​

A key advantage is the 2021 PEA's modular design, allowing phased expansion from 15,000 tpd to 90,000 tpd while utilizing existing infrastructure. The company remains open to strategic technology licensing partnerships and joint ventures to maximize the value of its proprietary oxidative leach intellectual property. Through this strategic approach, combining technological leadership, environmental responsibility, and exploration growth, Chesapeake Gold is positioning itself to become a leading mid-tier precious metals producer.

As of 2025, Chesapeake Gold Corp. is well-positioned financially, with a strong treasury of C$12 million and a low corporate burn rate. The company benefits from its proprietary technology reducing initial capital expenditure to US$359 million for the Metates starter project, with sustaining capital of US$176 million over the mine life. The project is expected to generate average annual operating cash flow of US$110 million over 31 years, with total life-of-mine operating cash flow of US$3.5 billion.​

The Metates Project is projected to deliver exceptional financial returns with a pre-tax net present value of US$1.14 billion at a 5% discount rate and an internal rate of return of 35%. The project achieves low all-in sustaining costs of US$749 per ounce, providing robust margins at current gold prices. The 2021 PEA demonstrates a 90% reduction in capex compared to the 2016 pre-feasibility study while maintaining a large resource base for future expansion.​

Chesapeake remains focused on securing project financing through a combination of equity, debt, and potential strategic partnerships. With compelling valuation metrics trading at US$1.00 per ounce compared to peer averages of US$54 per ounce, and strong institutional shareholder support, Chesapeake is well-positioned to advance Metates toward production while creating long-term value for investors.​

Chesapeake Gold Corp. is positioned to become a major player in the precious metals industry, with its flagship Metates Project representing one of the world's largest undeveloped gold-silver deposits. With a 31-year mine life, significant gold and silver reserves, and a commitment to innovative environmental practices, Chesapeake offers a unique investment opportunity in a favorable jurisdiction.​

The company's strong management team, capital-efficient strategy leveraging proprietary oxidative leach technology, and dedication to ESG standards position it for long-term success. As Chesapeake advances through key milestones—including metallurgical testing completion, pre-feasibility study initiation, and Lucy project expansion—the company is well-positioned to deliver robust returns, benefiting from favorable commodity prices and growing global demand for responsibly produced precious metals.

For investors seeking exposure to a large-scale, technology-driven mining project with significant growth potential, Chesapeake Gold Corp. presents an attractive opportunity. The company's disciplined approach to development, backed by strong institutional ownership and compelling valuation discount to peers, ensures that Chesapeake is not only a sound investment today but an innovative leader for the future of sustainable gold mining.