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 Verde Zone received.
The highlight from this programme was the intersection of 42.0m at 5.9g/t AuEq in drill hole GNDD-711 which is an extension of the high-grade mineralization north of the Verde Zone.
The drilling continues to show the presence of coherent shoots of significantly higher-grade mineralization at depth which remain open in several locations.
All results were received after the completion of the company’s maiden Hualilan Gold Project (MRE). The current MRE, which includes a high-grade core of 1.1Moz at 5.6g/t AuEq, was based on 125,700m of drilling and will be updated in coming weeks.
The company is midway through an additional 50,000m of drilling which will take total CEL drill metres at Hualilan to 250,000m.
“Another excellent set of results as our extension and infill programme at Hualilan progresses. We are encouraged by the intersection of new zones of high-grade mineralization at depth on the northern margin of the Verde Zone as this appears to be a new high-grade target that will require follow up,” Managing Director, Kris Knauer, said.
“Importantly, we continue to see the trend of our infill drill holes generally surprising on the upside both in terms of mineralization width and grade which is a positive. This often goes the other way in a resource drill out, but this has not been the case at Hualilan.”
The Verde Zone contributes almost one million ounces gold equivalent to the current Hualilan MRE. The Verde Zone was a CEL discovery targeted using surface magnetics and IP (Induced Polarisation) at the Hualilan Gold Project.
The discovery hole returned 125.5m at 1.1g/t AuEq including 71.0m at 1.8g/t AuEq (GNDD-169). The Verde Zone covers two km of strike and mineralization remains open along strike and at depth.
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