- Challenger Exploration (CEL) has requested back-to-back trading halts ahead of a capital raising announcement
- The halt will remain in place until July 17 or when the announcement is made, whichever occurs first
- Last week, Challenger discovered a new zone of gold mineralisation neighbouring its Hualilan Gold Project in Argentina
- The zone spans a length of one kilometre and a width of 100 metres
- Shares in Challenger last traded for 23 cents each on July 10
Challenger Exploration (CEL) has requested back-to-back trading halts ahead of a capital raising announcement.
The halt will remain in place until July 17 or when the announcement is made, whichever occurs first.
On July 8, Challenger discovered a new zone of gold mineralisation neighbouring its Hualilan Gold Project in Argentina.
Drilling was undertaken to test the one-kilometre strike length between the Cerro Sur and Cerro Norte zones, as well as to follow-up on a partially sampled hole which returned 0.72g/t gold and 1.5g/t silver.
Once results were reviewed, a one kilometre long and 100-metre wide target was identified, and Challenger believes that significant potential exists below the target.
Further, significant widths of strongly altered porphyry were discovered.
Challenger last entered a trading halt in May in regards to assays received from the El Guayabo Gold and Copper Project in Ecuador.
Shares in Challenger last traded for 23 cents each on July 10.