Challenger Exploration

Latest Results for Ecuador Yield a 1.2 kilometre Intersection

Challenger Exploration (ASX: CEL) (“CEL” the “Company”) reports results from the next six holes in its Phase 2 drilling program in Ecuador. The holes are located on the GY-A anomaly, or the Main Discovery Zone, on the Company's 100% owned El Guayabo Gold-Copper Project in El Oro Province, Ecuador.


Highlights:
  • Next 6 holes on the GY-A anomaly drilled to allow the reporting of a Mineral Resource Estimate intersect significant mineralisation with results including (refer Table 1):
    • 1190.0m at 0.3 g/t AuEq2 - 0.2 g/t Au, 1.3 g/t Ag, 0.1 % Cu, 12.6 ppm Mo from 4.0m including;

511.1m at 0.4 g/t AuEq2 - 0.3 g/t Au, 2.1 g/t Ag, 0.1 % Cu, 11.9 ppm Mo from 4.0m including;

369.5m at 0.5 g/t AuEq2 - 0.3 g/t Au, 2.2 g/t Ag, 0.1% Cu, 13.3 ppm Mo from 65.0m including

178.8m at 0.6 g/t AuEq2 - 0.5 g/t Au, 2.4 g/t Ag, 0.1% Cu, 8.8 ppm Mo from 344.0m including;

101.0 m at 0.8 g/t AuEq2 - 0.6 g/t Au, 2.8 g/t Ag, 0.1% Cu, 5.9 ppm Mo

(GYDD-22-025) (GY-A Phase 2 drilling - hole mineralised from surface to end of hole)

    • 689.5m at 0.3 g/t AuEq2 - 0.2 g/t Au, 1.4 g/t Ag, 0.1% Cu, 9.0 ppm Mo from surface including;

317.7m at 0.5 g/t AuEq2 - 0.4 g/t Au, 1.2 g/t Ag, 0.1% Cu, 15.0 ppm Mo from 75.4m including;

54.0 m at 1.0 g/t AuEq2 - 0.9 g/t Au, 1.7 g/t Ag, 0.1% Cu, 13.6 ppm Mo from 280.5m and

22.5 m at 1.3 g/t AuEq2 - 1.1 g/t Au, 1.7 g/t Ag, 0.1% Cu, 9.1 ppm Mo (GYDD-22-030)

(GY-A Phase 2 drilling - hole mineralised from surface to end of hole)

    • 871.9 m at 0.3 g/t AuEq2 - 0.2 g/t Au, 1.3 g/t Ag, 0.04% Cu, 14.2 ppm Mo from surface including;

275.3m at 0.4 g/t AuEq 2 - 0.3 g/t Au, 1.8 g/t Ag, 0.04% Cu, 8.2 ppm Mo from 92.6m including;

67.9m at 0.6 g/t AuEq2 - 0.5 g/t Au, 3.2 g/t Ag, 0.1% Cu, 7.7 ppm Mo (GYDD-22-027)

(GY-A Phase 2 drilling - hole mineralised from surface to end of hole)

  • Results confirm the GY-A anomaly has significant scale, with mineralisation having a true width over 500 metres along its current 700 metres strike extent
  • GY-A and GY-B anomaly converge into one large, mineralised zone with over one kilometre true thickness and mineralisation now defined from surface to 1100 metres depth
  • Drilling intersected a new style of mineralisation with drillhole GYDD-22-026 encountering an epithermal vein, above the main mineralisation zone, with an intersection of 1.3m at 231.3 g/t Au

Commenting on the results, CEL Managing Director, Mr Kris Knauer, said:

“This set of results has produced our widest intersection to date with drill hole GYDD-22-025 intersecting 1.2 kilometres of mineralisation from near surface to the end of the hole.

All 14 regionally significant gold-soil anomalies drilled to date produced gold intercepts. Seven of these, now high-priority targets, appear capable of hosting a significant bulk gold resource. We are targeting the main two targets for a maiden Mineral Resource Estimate expected to be available in May."


Click here for the full ASX Release

This article includes content from Challenger Exploration, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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