Announcement Date: 2022-03-09
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Challenger Exploration Ltd.
Project name: El Guaybo
Location: Ecuador
Commodities: Gold,Silver,Copper
Highlight: Drilling results incl. 257.8m @ 0.8g/t Au, 7.9g/t Ag, 0.3% Cu from 5.3m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Challenger Exploration (ASX: CEL) (“CEL” the “Company”) is pleased to announce results from drill hole GYDD-21-008 at its 100% owned El Guayabo Gold-Copper Project in El Oro Province, Ecuador. GYDD-21-008 delivered an exceptional wide and high-grade intercept that, coupled with a review of historical drilling, defines a continuous zone of higher-grade gold-copper-silver mineralisation that significantly upgrades the project and confirms CEL has a meaningful second project in South America. This zone of higher-grade mineralisation is hosted in intrusive breccia containing extensive sheeted veining. The mineralisation is exposed at surface and has been intersected to 275 metres below surface in drilling. It has a true width of 100 to 150 metres, dips steeply to the northwest, extends over at least 150 metres of strike, and remains open in both directions along strike and at depth. It forms a continuous body of higher-grade mineralisation with copper-gold and silver-gold ratios significantly higher than the surrounding mineralisation intersected in earlier CEL drill holes. The Company’s first six drill holes all intersected significant mineralisation including GYDD-21-001 (784.3m at 0.4 g/t AuEq including 188.5m at 0.6 g/t AuEq) and GYDD-21-006 (309.8m at 0.7 g/t AuEq). They define a continuous zone
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