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LONDON (Alliance News) - Chesterfield Resources PLC said Wednesday it signed a diamond drilling contract with GEOPS Bolkan for gold and copper exploration at Troodos West in Cyprus.
Shares in Chesterfield Resources were trading up 4.6% at 7.32 pence each on the back of the news.
The company added that it has started mobilisation as it expects drilling operations to begin at the Evloimeni prospect by the end of September, before moving to other targets.
Executive Chairman Martin French said: "The seven contiguous targets at Troodos West are highly prospective with evidence of mineralisation at surface, numerous historic mines, workings, drill holes and geophysical surveys.
"Permitting is proceeding at our Troodos North and Troodos East projects, which will add a considerable number of new brownfield targets to our drilling campaign."