Challenger Exploration

Outstanding Results From Extension And Infill Drilling At Challenger's Hualilan Gold Project

Challenger Exploration (ASX: CEL) (“CEL” the “Company”) is pleased to announce outstanding results from the ongoing drill program at the Hualilan Gold Project, located in San Juan Argentina, with extension and infill holes from the Verde Zone reported in this announcement.


Highlights

  • Extension and infill drilling at the Verde Zone continue to deliver outstanding results including:
    • 42.0m at 5.9 g/t AuEq1 - 5.3 g/t Au, 5.9 g/t Ag, 1.0% Zn from 270.6m including
      1.9m at 124.9 g/t AuEq1 - 113.0 g/t Au, 117.0 g/t Ag, 21.2% Zn from 357.7m (GNDD-711);

    • 43.0m at 1.8 g/t AuEq1 - 1.4 g/t Au, 3.1 g/t Ag, 0.7% Zn from 32.0m including.
      27.0m at 2.6 g/t AuEq1 - 2.0 g/t Au, 4.2 g/t Ag, 1.0% Zn from 42.0m and
      2.9m at 9.7 g/t AuEq1 - 0.7 g/t Au, 639 g/t Ag, 2.4% Zn from 97.5m (GNDD-667)

    • 42.8m at 1.4 g/t AuEq1 - 1.2 g/t Au, 3.3 g/t Ag, 0.4% Zn from 71.5m including
      5.3m at 6.3 g/t AuEq1 - 5.4 g/t Au, 6.0 g/t Ag, 1.7% Zn from 109.0m and
      0.5m at 23.0 g/t AuEq1 - 12.9 g/t Au, 62.1 g/t Ag, 18.4% Zn from 127.9m (GNDD-660);

    • 70.0m at 1.0 g/t AuEq1 - 0.9 g/t Au, 1.8 g/t Ag, 0.3% Zn from 196.0m including
      2.7m at 17.0 g/t AuEq1 - 13.4 g/t Au, 37.2 g/t Ag, 6.4% Zn from 261.7m and
      8.6m at 3.1 g/t AuEq1 - 2.8 g/t Au, 9.3 g/t Ag, 0.3% Zn from 354.5m including
      2.7m at 9.3 g/t AuEq1 - 8.6 g/t Au, 29.0 g/t Ag, 0.8% Zn from 354.5m (GNDD-643);

    • 22.2m at 1.0 g/t AuEq1 - 0.9 g/t Au, 2.3 g/t Ag, 0.3% Zn from 231.2m and
      9.1m at 5.7 g/t AuEq1 - 4.6 g/t Au, 9.2 g/t Ag, 2.2% Zn from 378.0m and (GNDD-693);
  • GNDD-711, drilled 80 metres below previous holes near the northern limit of the Verde Zone, has identified a high grade northern extension of Verde with an intersection of 42.0m at 5.9 g/t AuEq
  • GNDD-643 has filled a significant gap in the continuity of a lightly drilled area in the Central Verde Zone with an intersection of 70.0m at 1.0 g/t AuEq and 8.6m at 3.1 g/t AuEq
  • Drilling continues to extend the footprint of the Verde Zone mineralisation with several high- grade intersections at depth open and requiring follow-up drilling
Commenting on the results, CEL Managing Director, Mr Kris Knauer, said

“Another excellent set of results as our extension and infill program at Hualilan progresses. We are encouraged by the intersection of new zones of high-grade mineralisation at depth on the northern margin of the Verde Zone as this appears to be a new high-grade target that will require follow up.

Importantly, we continue to see the trend of our infill drill holes generally surprising on the upside both in terms of mineralisation width and grade which is a positive. This often goes the other way in a resource drill out, but this has not been the case at Hualilan."

The highlight from this program was the intersection of 42.0m at 5.9 g/t AuEq in drill hole GNDD-711 which is an extension of the high-grade mineralisation north of the Verde Zone. The drilling continues to show the presence of coherent shoots of significantly higher-grade mineralisation at depth which remain open in several locations.

All results were received after the completion of the Company’s maiden Hualilan Gold Project ("MRE"). The current MRE, which includes a high-grade core of 1.1 Moz at 5.6 g/t AuEq1, was based on 125,700 metres drilling and will be updated in coming weeks. The Company is midway through an additional 50,000 metres of drilling which will take total CEL drill metres at Hualilan to 250,000 metres.


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)
Auric Mining (ASX:AWJ)

Munda Gold Mine - Purchase of Mine Camp, Nickel Rights and Water Assets from WIN Metals

Auric Mining Limited (ASX: AWJ) (Auric or the Company) together with WIN Metals Ltd (ASX: WIN) (WIN Metals or WIN) are pleased to announce that the two parties have successfully agreed to the purchase of a package of WIN assets including all nickel and associated minerals rights, water access rights and a fully equipped mining camp all relating to Auric’s Munda Gold Mine.

Keep reading...Show less
Equity Metals

Equity Metals

Keep reading...Show less
Two people shaking hands in office with city skyline view.

Zijin Mining to Acquire Major Kazakh Gold Mine for US$1.2 Billion

China’s Zijin Mining Group (OTC Pink:ZIJMF,HKEX:2899,SHA:601899), the country’s largest producer of gold and copper, has agreed to acquire Kazakhstan’s Raygorodok gold mine for US$1.2 billion.

The deal, announced on Monday (June 30) through a filing to the Hong Kong Stock Exchange, furthers the company’s ambition of becoming one of the world’s top three gold producers by 2028.

Raygorodok is reportedly among the largest and most technologically advanced gold projects in Central Asia. It produced 6 metric tons of gold in 2024 at a production cost of US$796 per ounce, excluding non-cash items.

Keep reading...Show less
Map of Mali with red pin marking a location.

Mali Completes Takeover of Abandoned Gold Mines, Extends Push for Resource Sovereignty

Mali’s military-led government has completed its takeover of the Yatela and Morila gold mines.

Reuters reported on Monday (June 30) that according to the Malian government, control of the Yatela mine in Western Kayes and the Morila mine in Southern Sikasso has officially been transferred to the Society for Research and Exploitation of Mineral Resources of Mali (SEMOS), a newly formed entity in the country.

The Yatela mine was abandoned in 2016 by Sadiola Exploration Company — a joint venture between South Africa’s AngloGold Ashanti (NYSE:AU,JSE:ANG) and Canada’s IAMGOLD (TSX:IMG,NYSE:IAG) — after the operators deemed continued production uneconomic despite leftover reserves.

Keep reading...Show less

Latest Press Releases

Related News

×