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Challenger Exploration (ASX:CEL) - Managing Director & CEO, Kris Knauer
Managing Director & CEO, Kris Knauer
Source: Challenger Exploration
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  • Challenger Exploration (CEL) has discovered high-grade skarn mineralisation in a new area within the Hualilan Gold Project in Argentina
  • The hole returned an intercept of 4.3 metres at 31.8g/t gold and was drilled about 200 metres southwest from a previous hole which intersected skarn mineralisation
  • Managing Director Kris Knauer says the last thing Challenger expected was to find high-grade skarn mineralisation 200 metres away
  • Mineralisation remains open down-dip, and the company plans to drill another hole to test for extensions
  • Challenger is up 3.17 per cent and shares are trading at 32.5 cents

Challenger Exploration (CEL) has received results from one hole drilled at the Hualilan Gold Project in Argentina.

Hole GNDD-182 was drilled to confirm that a previously drilled hole had defined the western limit of intrusion-hosted mineralisation at the Gap zone.

Best results include 4.3 metres at 36.6g/t gold equivalent (31.8g/t gold, 97g/t silver, 8.1 per cent zinc) from 149 metres including 3.5 metres at 45.5g/t gold equivalent (39.6g/t gold, 118g/t silver, 10 per cent zinc) from 149 metres.

The hole was collared nearly 200 metres southwest of the nearest hole that intersected high-grade skarn mineralisation.

“This intersection was a little different from most of our recent drilling in that it was a complete surprise,” Managing Director Kris Knauer said.

“The hole was designed to confirm the edge of the intrusion-hosted mineralisation in the Gap zone. The last thing we were expecting that far west was high-grade skarn mineralisation that looks, and assays, exactly like the Main Manto at Cerro Norte,” Kris said.

Significantly, this marks the first time Challenger has seen skarn mineralisation on the western side of the intrusives, opening up a new area for exploration.

Mineralisation remains open down-dip, and the company plans to drill another hole to test for extensions to mineralisation.

Challenger is up 3.17 per cent and shares are trading at 32.5 cents at 10:47 am AEDT.

CEL by the numbers
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