Challenger Exploration (ASX: CEL) has obtained “outstanding” results from the ongoing drill programme at the Hualilan Gold Project, located in San Juan Argentina, with extension and infill holes from the Sentazon and Magnata.
The highlight from this programme was the intersection of 15.2m at 4.7g/t AuEq in drill hole GNDD-734. This hole was drilled at Magnata Alto following the discovery of surface mineralization, including visible gold, at the contact between limestones and intrusives at the top of the Hualilan Hills. This intersection is a new zone of mineralization, with the same orientation as the Magnata Fault.
The company is midway through an additional 50,000m of drilling which will take total CEL drill metres at Hualilan to 250,000m.
“Hualilan continues to surprise us, even as we near hole eight hundred. We have identified two new zones of mineralization parallel to, and the same orientation as, the existing Magnata Fault mineralization,” Managing Director, Kris Knauer, said.
“The best result at Magnata was an intersection of 15.2m at 4.7g/t gold equivalent, 175m below a mineralized contact mapped at surface and we are eagerly awaiting assays for recent channel sampling of this zones at surface which we hope will demonstrate significant vertical relief.
“Additionally, we have entered into an agreement to acquire the land containing the Hualilan Gold Project which significantly simplifies and de-risks the permitting process for the project.
“The 20,000 hectares we have acquired covers Hualilan and all possible extensions within 5km of the current mineralization.”
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