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  • Challenger Exploration (CEL) hits a huge section of gold during ongoing rock saw channel sampling at the Hualilan Gold Project
  • Best results include 15.6 metres at 70.9 grams per tonne (g/t) gold, including 4 metres at 203.8 g/t gold equivalent and 201.6 g/t gold
  • CEL says the bonanza grades are among the highest its ever found at the Argentinian based asset and extend the mineralisation 200 metres up dip
  • The company will now acquire a ninth drill rig to help further test the mineralisation at Hualilan
  • CEL shares have rallied 29.6 per cent at 38.5 cents each

Challenger Exploration (CEL) has reportedly hit a huge gold find during ongoing rock saw channel sampling at the Hualilan Gold Project.

The results include 15.6 metres at 70.9 grams per tonne (g/t) gold, including 4 metres at 203.8 g/t gold equivalent and 201.6 g/t gold.

The company said these results are among the best ever recorded at the Argentina-based asset and extend the mineralisation 200 metres up dip.

CEL explained the rock channel sampling program was targeting an area above ground level and into the Hualilan Hills.

Managing Director Kris Knauer said these bonanza grades confirm his belief the hills could hold even more high-grade hits.

“These are the best results we have seen at our Flagship Hualilan Gold Project — 4 metres at 201.6 g/t gold is outstanding,” Mr Knauer said.

“The results confirm our view that the strongest mineralisation is likely to be in the Hualilan Hills which are yet to be drilled.

“Mineralisation is mapped in outcrop in the Hualilan Hills over 1.4 kilometres of strike and there is 200 to 300 metres which is undrilled up-dip from our current drilling which suggests this exciting bonanza grade target could deliver a material increase in size.”

The company will now acquire a ninth drill rig to help further test the mineralisation at Hualilan.

CEL shares are up 29.6 per cent following Thursday’s bonanza grade gold news, trading at 28.5 cents each.


CEL by the numbers
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