Challenger Exploration (ASX: CEL) (“CEL” or the “Company”) is pleased to report drilling results for the first eight holes in its 7500-metre (approximately 85 hole) second drilling program at the Hualilan Gold Project in Argentina. Complete results are shown in Table 1 below. The Company has received results for drill holes GNDD-011-016 and GNDD-018 and GNDD-020 all of which are located at Cerro Sur, the southern portion of the project. All holes intersected mineralisation and the results confirm that mineralisation at Cerro Sur remains open in all directions.
Highlights:
First 8 drill holes from CEL’s 7,500 metres (~85 hole) drilling program have all intersected mineralisation successfully extending the known mineralisation in multiple directions
Results include (refer Table 1 for details): ▪
8.3m at 21.1 g/t AuEq 1 – 17.7 g/t gold, 257 g/t silver, 0.3% zinc (GNDD-020) (including 5.5m at 26.0 g/t gold, 355 g/t silver, 0.4% zinc (30.3 g/t AuEq) from 74 metres)
3.8m at 11.6 g/t AuEq – 7.1 g/t gold, 78 g/t silver, 3.6% zinc (GNDD-018) (including 2.6m at 10.3 g/t gold, 114 g/t silver, 4.9% zinc (16.7 g/t AuEq) from 64 metres
4.5m at 8.9 g/t AuEq – 6.0 g/t gold, 83 g/t silver, 3.9% zinc plus 5.0m at 6.2 g/t AuEq – 1.8 g/t gold, 27 g/t silver, 8.3% zinc (GNDD-014)
Drilling has now intersected high-grade mineralisation over a strike length of 1.8 km with mineralisation remaining open in all directions.
GDDD-020 (17.7 g/t gold, 257 g/t silver, 0.3% zinc – 8.3m at 21.1 g/t AuEq 1 ) successfully extended the mineralisation in the M1 Magnata Fault 45 metres down dip of historical holes DDH53 and DDH54 and included a high grade zone of 5.5m at 26 g/t gold, 355 g/t silver, a top 6 intersection returned from the Hualilan Gold Project(2)
GNDD-018 (7.1 g/t gold, 78 g/t silver, 3.6% zinc – 3.8m at 11.6 g/t AuEq) successfully extended the Magnata vein 20 metres along strike and was followed by GNDD-024 (assays pending) which was designed to test 40 metres down dip
GNDD-016 (4.5m at 6.0 g/t gold, 83 g/t silver, 3.9% zinc – 8.9 g/t AuEq plus 5.0m at 1.8 g/t gold, 27 g/t silver, 8.3% zinc – 6.2 g/t AuEq) successfully extended Sentazon mineralisation 40 metres north along strike from CEL’s discovery hole at Sentazon, which returned 10.3m at 10.4 g/t gold
GNDD-013 (6.9m at 1.3 g/t gold, 12 g/t silver, 2.7% zinc – 2.7 g/t AuEq) is CEL’s southernmost drill hole and has successfully extended mineralisation 25 metres further south along strike and confirmed mineralisation remains open to the south
