Challenger Exploration (ASX: CEL) (“CEL” or the “Company”) is pleased to announce the discovery of a new style of Intrusion-hosted gold mineralisation contiguous to the Company’s Hualilan Gold Project, located in San Juan Province Argentina.
Drill hole GNDD-025, located in the Gap Zone between Cerro Sur and Cerro Norte, 300 metres along strike from prior CEL drilling, has returned (refer Table 1):
• 50m at 1.4 g/t gold, 3.4 g/t silver in altered dacite porphyry which remains open with assays pending, including a higher-grade zone in oxides of
• 37 metres at 1.8 g/t gold, 4.2 g/t silver from 53 metres
This is a new type of mineralisation hosted in dacite porphyry with significant tonnage potential. The historical mineralisation at Hualilan occurs in faults or limestone units
A conceptual, near surface, target covering 1-kilometre in strike, up to 100 metres wide, has been defined by historical drilling and altered surface exposure
Whilst the high-grade mineralisation remains the focus, CEL is now extending exploration to this dacite porphyry given it is adjacent to the historical higher-grade mineralisation
Drill hole GNDD-051 (assays pending) was completed to test this conceptual target and successfully intersected altered dacite under cover from 69 metres to the end of hole
The recently completed IP Survey conducted at Cerro Norte shows an interpreted dacite intrusion of significant scale underlying the mineralisation
GNDD-047,GNDD-052, and GNDD-053 (assays pending) have intersected significant widths to the end of hole of strongly altered dacite porphyry at Sentazon over 1.5 km south of GNDD-025, and outside the conceptual target
As this new discovery in dacite intrusives is contiguous to, and underlies, the existing high- grade mineralisation it will have significant synergies from a mine development perspective
