Challenger Exploration (ASX:CEL) - Managing Director, Kris Knauer
Managing Director, Kris Knauer
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  • Challenger Exploration (CEL) extends the mineralisation at the Verde Zone within its flagship Hualian Gold Project in San Juan, Argentina
  • All up, 55 holes were drilled at the Verde and Gap zone discoveries to test below previous drilling
  • Only five holes failed to intersect significant mineralisation and continuous mineralisation was intersected over 1.3 kilometres of the 1.5-kilometre strike
  • Furthermore, up to 18.4 grams per tonne of gold (g/t), 38.6g/t silver and 1.5 per cent zinc was also intersected
  • Shares in Challenger are up 1.72 per cent on the market and are trading at 29.5 cents at 12:10 pm AEST

Challenger Exploration (CEL) has extended the mineralisation at the Verde Zone within its flagship Hualian Gold Project in San Juan, Argentina.

The Hualin Project consists of 15 mining leases and covers an area spanning 26 square kilometres.

All up, 55 holes were drilled at the Verde and Gap zone discoveries to test below previous drilling and extend drilling over the strike between the Sanchez and Magnata faults.

Only five holes failed to intersect significant mineralisation while continuous mineralisation was intersected over 1.3 kilometres of the 1.5-kilometre strike.

Results from this drilling program include 15 metres at 3.7 grams of gold per tonne (g/t), 38.6g/t silver and 0.7 per cent zinc from 239.4 metres including 2.8 metres at 18.4g/t gold, 29.8g/t silver and 0.7 per cent zinc from 242.3 metres.

A series of holes will now be collared to test another 50 to 100 metres below, north, south and along strike of where the mineralisation remains open.

Managing Director Kris Kanuer commented on the results.

“The Verde Zone has emerged as what appears to be a continuous zone of mineralisation 1.5 kilometres long with a vertical extent of 300 metres,” Mr Knauer said.

“We have now drilled 117 holes on the 1.5 kilometre Verde Zone trend and I expect the most exciting part of this drilling will be the results of the 37 holes for which we are yet to receive final assays.”

Shares in Challenger were up 1.72 per cent on the market and were trading at 29.5 cents at 12:10 pm AEST.

CEL by the numbers
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