Gauntlet doesn't use CHD's so you are trying to run either Gauntlet Dark Legacy or Gauntlet Legends.
ROMs (zips) are images of flash chips on arcade cabinet motherboards.
CHDs are images of hard drives, CDs, laser discs - any storage media holding game data not on a chip.
MAME expects CHDs to be in their own folders which share the same name as the rom
Gauntlet Dark Legacy:
C:\MAME\roms\gauntdl.zip C:\MAME\roms\gauntdl\gauntdl.chd
Gauntlet Legends:
C:\MAME\roms\gauntleg.zip C:\MAME\roms\gaunrleg\gauntleg.chd
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