- Challenger Exploration (CEL) has discovered a new style of gold mineralisation neighbouring its Hualilan Gold Project in Argentina
- Hole GNDD-025 was drilled to test the one-kilometre strike length between the Cerro Sur and Cerro Norte zones
- This hole returned results grading up to 3.4 grammes per tonne silver and 1.4 grammes per tonne gold
- Following a review of results, Challenger has identified a target spanning a length of one kilometre and a width of up to 100 metres
- Further, three additional holes have intersected significant widths of strongly altered porphyry 1.5 kilometres south of hole GNDD-025
- Challenger is steady on the market and shares are trading for 23.5 cents each just before market close
Challenger Exploration (CEL) has discovered a new style of gold mineralisation neighbouring its Hualilan Gold Project in Argentina.
The Hualilan Project spans an area of 26 square kilometres and is located 120-kilometres north-northwest of San Juan.
Hole GNDD-025, which is located between the Cerro Sur and Cerro Norte zones, has returned a result of 50 metres at 1.4g/t gold, 3.4g/t silver, 0.17 per cent zinc, and 0.15 per cent lead from 53 metres.
These zones are located 300 metres from previous Challenger exploration holes and drilling aimed to test the one-kilometre strike length between them.
Drilling also aimed to follow-up on a partially sampled hole which returned 18.7 metres at 0.72g/t gold and 1.5g/t silver.
Following a review of results, Challenger has identified a target spanning a length of one kilometre and a width of up to 100 metres.
Challenger believes that significant potential exists below the target, with recent induced polarisation (IP) data showing a major volcanic rock at depth.
Further, holes GNDD-047, GNDD-052, and GNDD-053 have intersected significant widths of strongly altered porphyry 1.5 kilometres south of hole GNDD-025.
“We are excited by this development at our flagship Hualilan Gold Project. While the high-grade mineralisation will remain the company’s main focus, uncovering a new, large-tonnage target, which is expected to substantially increase scale significantly enhances the project and adds to its robust nature,” Managing Director Kris Knauer said.
Challenger is steady on the market and shares are trading for 23.5 cents each at 4:06 pm AEST.