Challenger Exploration (ASX: CEL) is adding to its promising discovery with the most recent four holes in the El Guayabo drill programme in Ecuador all intersecting significant Au-Cu-Ag-Mo mineralisation from near surface.
▪Significant intersections include:
▪ 309.8m at 0.7 g/t AuEq2 – 0.2 g/t Au, 6.2 g/t Ag, 0.2 % Cu from 3.3m including 202.1m at 0.8 g/t AuEq2 – 0.3 g/t Au, 6.5 g/t Ag, 0.3 % Cu from 74.4m including; 33.0m at 1.3 g/t AuEq2 – 0.3 g/t Au, 15.2 g/t Ag, 0.5 % Cu from 74.4m and 53.6m at 1.5 g/t AuEq2 – 0.7 g/t Au, 8.8 g/t Ag, 0.4 % Cu from 231.9m (GYDD-21-006);
▪ 511.7m at 0.3 g/t AuEq2 0.3 g/t Au, 0.9 g/t Ag, 0.03% Cu from 16.1m including 88.4m at 0.8 g/t AuEq2 – 0.6 g/t Au, 1.8 g/t Ag, 0.1% Cu from 389.8m and 30.4m at 1.5 g/t AuEq2 – 1.4 g/t Au, 0.9 g/t Ag, 0.03 Cu from 567.3m and (GYDD-21-005);
▪ 338.7m at 0.3 g/t AuEq2 – 0.2 g/t Au, 1.0 g/t Ag, 0.03% Cu from 37.1m and 33.0m at 0.3 g/t AuEq2 – 0.2 g/t Au, 0.5 g/t Ag, 0.1% Cu from 613.5m (GYDD-21-004); and
▪ 119.2m at 0.5 g/t AuEq2 – 0.4 g/t Au, 0.8 g/t Ag, 0.02% Cu from 71.9m including 26.2m at 1.1 g/t AuEq2 – 1.1 g/t Au, 0.9 g/t Ag, 0.02 Cu from 76.4m and (GYDD-21-003).
The results build on the results from the first two drill holes and confirm the discovery of a significant intrusion hosted gold-copper-silver-molybdenum system with all holes encountering wide zones of mineralisation associated with intrusives and intrusive breccias.
The first six holes have intersected what is interpreted as a continuous zone of intrusion-hosted mineralisation 300 metres wide extending over 500 metres of strike to a maximum depth of 550 metres below surface. The mineralisation remains open in both directions along strike and at depth.
The company has two drill rigs on site with a depth capacity of 1,200 metres using NQ core rods.
The company is currently completing GYDD-22-015 and GYDD-21-016 at its 100% owned El Guayabo tenement. These holes were added to the programme to follow up the mineralisation intersected in GYDD-21-006 and GYDD-21-008 (assays pending).
GYDD-22-008 is logged as intersecting a 134 metre interval of the same style of intrusive breccia containing extensive sheeted veining as was intersected in GYDD-21-006 with a higher sulphide content than was logged in GYDD-21-006. Section 200 (GYDD-21-003 and GYDD-21-004)
Drillholes GYDD-21-003 and GYDD-21-004 were collared approximately 200 metres west along strike from the Company’s first drill hole GYDD-21-001 which intersected 784.3 metres at 0.4 g/t AuEq from near surface including a higher-grade core of 188.5 metres at 0.6 g/t AuEq.
Due to the steep topography to the south of the collar location limiting access the drill pad was located within the underlying gold in soil anomaly with GYDD-21-003 and GYDD-21-004 drilled from the same drill pad in opposite directions.
While both holes intersected significant mineralisation (over 200 metres of mineralisation in both holes) the main zone of mineralisation is now believed to be 200 to 300 metres in width and dipping steeply.
Accordingly both GYDD-21-003 and GYDD-21-004 are now interpreted as having drilled from within the zone of mineralisation through a near surface leached zone and then out of the mineralisation as shown in Cross Section.
“Drillhole GYDD-21-006 is the first hole to give us a look at the type of mineralisation we might expect at El Guayabo,” Managing Director, Kris Knauer, said.
“The three earlier holes were all drilled from the center of the soil anomaly out due to the topography and we felt they drilled above the main zone of higher-grade mineralisation.
“We drilled hole 6 at a different azimuth to target what we now feel is a steep zone of mineralisation and this returned instant rewards. In addition, logging indicates GYDD-21-008, drilled to follow up GYDD-21-006, has intercepted similar mineralisation to GYDD-21-006 with a higher content of sulphides. We have rushed assays for GYDD-21-008 with results anticipated in two to three weeks.”
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