Challenger Exploration (ASX: CEL) (“CEL” or the “Company”) is pleased to announce that it has recorded a significant intersection of high-grade mineralisation some 100 metres south along strike from previous high-grade results at Cerro Norte at the Company’s flagship Hualilan Gold Project, located in San Juan Province Argentina.
Highlights:
- Drill hole GNDD-035 has recorded a significant gold intersection of:
- 5.75 metres at 11.5 g/t AuEq – 9.5 g/t gold, 29 g/t silver, 3.5% zinc;
- (including 3.15 metres at 20.1 g/t AuEq – 17.1 g/t gold, 29 g/t silver 5.6 % zinc)
- The hole is located south of Cerro Norte in the Gap Zone between Cerro Norte and Cerro Sur in an area under cover with no previous drilling or evidence of old workings
- The mineralisation is typical limestone hosted skarn and extends the historical high-grade mineralisation at Cerro Norte some 100 metres further south
- It is believed the high-grade skarn lies above, and wraps around, the recently discovered intrusion-hosted mineralisation in the Gap Zone, subject to additional drilling
- Extends the strike extent of Cerro Norte, which accounts for approximately half of the foreign historical resource by 100 metres to 400 metres
- Confirms that the mineralisation at Cerro Norte is strong and open south into the Gap Zone in addition to being open to the north along strike and down dip
Commenting on the results, CEL Managing Director, Mr Kris Knauer, said “Another great result from our flagship Hualilan Gold Project. The project continues to deliver excellent results as we step along strike and down dip to extend the historical mineralisation. This hole increases the strike extent of the high-grade mineralisation at Cerro Norte, which contains around half of the historical high-grade resource, by 100 metres to 400 metres. It also confirms that the high-grade mineralisation at Cerro Norte remains open, and strong, to the south into the Gap Zone between Cerro Sur and Cerro Norte. Mineralisation remains open in all directions, and the Company is now focused on an expanded 35,000 metre drill program “
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