Announcement Date: 2022-10-31
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Challenger Exploration Ltd.
Project name: Hualilan
Location: Argentina
Commodities: Gold,Silver,Zinc
Highlight: Drilling results incl. 65.3m at 2.3g/t Au, 1.7g/t Ag, 0.2% Zn from 209m
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 drilling at its flagship Hualilan Gold Project, San Juan Argentina. The results are from the Company’s ongoing drill program targeting extensions to the current 2.1 million ounce AuEq1 Mineral Resource Estimate (“MRE”)2 . The holes reported in this release primarily focus on extensions to the Verde Zone and Magnata Fault mineralisation. The drilling continues to show the presence of coherent zones of significantly higher-grade mineralisation at depth in the Verde Zone. 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 1.1 Moz at 5.6 g/t AuEq1 , was based on 125,700 metres drilling and will be updated once assays from the recently completed 204,000 metre drill program have been received. Following its $24.7 million dollar financing in September CEL has committed to a further 50,000 metres which will take total CEL drill metres at Hualilan to 254,000 metres
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