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Challenger Exploration (ASX:CEL) - Exploration Manager, Stuart Munroe
Exploration Manager, Stuart Munroe
Source: Stuart Munroe/LinkedIn
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  • Challenger Exploration (CEL) extends high-grade mineralisation at the Sentazon prospect which is part of the Hualilan gold project in Argentina
  • The company has received assays from another eight holes which have extended mineralisation by 50 per cent to a further 100 metres down-dip
  • The mineralisation also remains open along strike, at depth and up-dip
  • Challenger has chosen to expand its program to drill more holes at Sentazon on the back of the encouraging observations
  • Company shares were down 5.17 per cent to trade at 27.5 cents

Challenger Exploration (CEL) has released results from the next eight holes of its drilling program at the Sentazon prospect within the Hualilan gold project in Argentina.

Positively for the company, all holes intersected significant gold mineralisation and extended both the main Sentazon Manto and the Footwall zone another 100 metres down-dip. Mineralisation also remains open along strike, at depth and up-dip.

Best results include 4.6 metres at 25.6 grams of gold equivalent per tonne (g/t) from 213 metres, 10.2 metres at 14.2g/t gold equivalent including 4.5 metres at 25.6g/t gold equivalent from 230 metres, 11.3 metres at 8.8g/t gold equivalent including four metres at 17.4g/t gold equivalent from 143.5 metres.

Managing Director Kris Knauer commented on the results.

“Our drilling continues to demonstrate that Sentazon, which was historically thought to be a small zone at the southern end of Hualilan, is on track to make a significant contribution to the high-grade gold endowment at the Hualilan gold project,” he said.

“This series of step-out drill holes has extended the high-grade mineralisation down-dip by 50 percent.”

Challenger’s 120,000-metre drilling program is continuing at the Hualilan gold project which is yielding positive results from the Verde zone. Based on the results from Sentazon, the company plans to dedicate part of its ongoing program to follow up on the latest results.

On market close, company shares were down 5.17 per cent to trade at 27.5 cents.

CEL by the numbers
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