Challenger Exploration (ASX: CEL) has announced that it has extended ‘high grade’ Magnata Fault mineralisation along strike and at depth at its flagship Hualilan Gold Project in San Juan, Argentina.
The results come from several drill holes that were tasked with testing extensions of ‘high grade’ mineralisation previously encountered at Magnata, with all 18 holes successfully intersecting mineralisation.
Key intercepts include:
- Hole GNDD-370: 4.2m @ 16.1 g/t AuEq – 10.4 g/t Au, 61.5g/t Ag, 11.4% Zn from 330.8m; plus 18.9m @ 3.1 g/t AuEq – 2.7 g/t Au, 9.9 g/t Ag, 0.5% Zn from 245.8m; including
- 6.6m @ 6.6 g/t AuEq- 5.8 g/t Au, 17.9 g/t Ag, 1.3% Zn from 137.0m
- Hole GNDD-442: 29.0m @ 5.3g/t AuEq – 3.2 g/t Au, 44.6g/t Ag, 3.6% Zn from 306.0m; including
- 2.6m @ 24.7 g/t AuEq – 17.6 g/t Au, 218 g/t Ag, 10.1% Zn from 329.0
- Hole GNDD-416: 4.0m @ 16.9g/t Au from 240.0m (silver and base metal results pending); plus 1.1m @ 44.5 g/t Au from 530.7m (silver and base metal results pending)
Based on these results, mineralisation from the fault has been extended by up to 240m below previous drilling, including a new intercept of 44.5 g/t Au from the prospect’s deepest hole to date, and 130m along strike.
The company notes that drilling has also intersected new zones of mineralisation, including a new massive sulphide zone which it believes may be an extension of the Magnata Manto mineralisation situated north of the fault.
Addressing the results, Challenger Exploration Managing Director Kris Knauer said: “The footprint of the high-grade mineralisation at Hualilan continues to expand and we are seeing no signs that we are approaching the limits of the deposit.
“The Magnata Fault itself is now a significant body of high-grade mineralisation over 500 metres long extending from surface to 500 metres depth that remains open in all directions”
The Magnata Fault itself is now a significant body of high-grade mineralisation over 500 metres long extending from surface to 500 metres depth that remains open in all directions.
Additionally, with what we have seen in the last few holes drilled on the Magnata Fault, it looks like the western end of the Magnata Fault is going to emerge as an important new high-grade zone.”
In addition, Challenger has reported ‘substantial’ widths of near-surface mineralisation above the fault that may be amenable to open-pit mining, with key results including:
- Hole GNDD408: 63m @ 0.5 g/t AuEq – 0.4 g/t Au, 2.8 g/t Ag, 0.2% Zn from 47.0m; plus 21.7 @ 1.1 g/t AuEq – 0.9 g/t Au, 9.3 g/t Ag, 0.2% Zn from 13.0m
- Hole GNDD343: 55.0m @ 0.7g/t AuEq – 0.5 g/t Au, 6.2g/t Ag, 0.2% Zn from 190m
- Hole GNDD354: 55.0m @ 0.5g/t AuEq – 0.3 g/t Au, 8.3g/t Ag, 0.1% Zn from 15.0m
Mineralisation at Magnata now extends over 520m of strike and 500m at depth, remaining open in all directions.
Images: Challenger Exploration Limited
