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.

CEL:AU
The Conversation (0)
Gold bars, stock charts.

Top Stories This Week: Gold Hits Fresh All-time High, Uranium Stocks Rise on Putin Comments

Gold hit yet another record high this week, surging to just past US$2,580 per ounce on Friday (September 13).

It was pushed up by rising expectations that the US Federal Reserve will cut interest rates by 50 basis points next week.

At this point a September reduction has essentially been guaranteed for some time, but in recent weeks experts have been anticipating a 25 basis point decline. New reports from the Financial Times and Wall Street Journal have changed that line of thinking — the news outlets both said officials are facing a tough decision and are still undecided.

Keep reading...Show less
Gold nugget on map of Australia.

Catalyst Metals Boosts Ore Reserves, Lays Out Plan to Double Gold Production

Australian gold producer Catalyst Metals (ASX:CYL,OTC Pink:CTYMF) provided its latest three year production guidance and an update on its group ore reserve estimate on Wednesday (September 11).

Its ore reserves now total 1 million ounces of gold, representing growth of 105 percent in the last 12 months. This increase has allowed the company to boost its annual output guidance to 200,000 ounces, up from 100,000 ounces.

Catalyst states that because of the infrastructure it has available, increasing its gold production will require pre-production capital of only AU$31 million over the course of 18 months.

Keep reading...Show less
Antilles Gold Limited (ASX:AAU)

Testing Confirms Potential for Significant Antimony Production from the La Demajagua Gold-Silver-Antimony Mine, Cuba

Antilles Gold Limited (“Antilles Gold” or the “Company”) (ASX: AAU, OTCQB: ANTMF) is pleased to advise that the metallurgical test work undertaken by BGRIMM Technology on the gold-arsenopyrite concentrate to be produced by the La Demajagua open pit mine in Cuba, has been completed.

Keep reading...Show less
Brightstar Resources

Increased Lion Participation in Brightstar Placement

Lion Selection Group Limited (Lion, the Company) is pleased to announce it has been able to increase its participation in the $24M equity fundraising announced by Brightstar Resources Limited (Brightstar, ASX:BTR) on 2 August 20241. Lion announced its commitment to invest $4.3M in this fundraising on 2 August 20242 and has recently provided an increased commitment for a further $1.5M, taking Lion’s total investment via the deal to $5.8M.

Keep reading...Show less
Brightstar Resources

Brightstar Signs Major Drill for Equity Agreement with Topdrill

Brightstar Resources Ltd (ASX: BTR) (Brightstar) is pleased to announce it has executed a significant drill-for-equity agreement with Topdrill Pty Ltd (Topdrill) which complements the existing arrangement and underpins the strong working relationship between Brightstar and Topdrill.

Keep reading...Show less

B2Gold Announces Goose Project Update; Project Construction and Development on Track for First Gold Production in Q2 2025; Total Construction and Mine Development Cash Expenditure Estimate Before First Gold Production Revised to Reflect Current Timeline

B2Gold Corp. (TSX: BTO, NYSE AMERICAN: BTG, NSX: B2G) ("B2Gold" or the "Company") announces an update for the Goose Project in Nunavut, Canada. All dollar figures are in United States dollars unless otherwise indicated.

Goose Project Update

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×