Challenger Exploration (ASX: CEL) has reported ‘significant’ gold intercepts from infill and extensional drilling at the Verde Zone within its flagship Hualian Gold Project in San Juan, Argentina.
The results include a highlight intersection of 67.7m @ 7.7 g/t AuEq from a 200m strike section that confirms Verde as a continuous 1.5km zone of mineralisation.
Standout intercepts include:
- Hole GNDD-458:
- 67.7m @ 7.7 g/t AuEq – 7.3 g/t Au, 5.7 g/t Ag, 0.6% Zn from 300.4m; including
- 32.1m @ 15.9 g/t AuEq – 15.2 g/t Au, 10.9 g/t Ag, 1.2% Zn from 335.9m; including
- 0.5m @ 834 g/t AuEq – 833 g/t Au, 104 g/t Ag, from 335.9m
- 1.4m @ 24.4 g/t AuEq – 21.0 g/t Au, 84.7 g/t Ag, 5.4% Zn from 362.9m
- 32.1m @ 15.9 g/t AuEq – 15.2 g/t Au, 10.9 g/t Ag, 1.2% Zn from 335.9m; including
- 67.7m @ 7.7 g/t AuEq – 7.3 g/t Au, 5.7 g/t Ag, 0.6% Zn from 300.4m; including
- Hole GNDD-376:
- 51.0m @ 1.5 g/t AuEq – 0.9 g/t Au, 15.2 g/t Ag, 0.9% Zn from 141.0m; including
- 4.6m @ 14.3 g/t AuEq – 8.3 g/t Au, 162.7 g/t Ag, 9.0% Zn from 187.4m
- 23.6m @ 0.7 g/t AuEq – 0.7 g/t Au, 0.9 g/t Ag, from 209.4m
- 51.0m @ 1.5 g/t AuEq – 0.9 g/t Au, 15.2 g/t Ag, 0.9% Zn from 141.0m; including
- Hole GNDD-439:
- 37.8m @ 1.0 g/t AuEq – 0.9 g/t Au, 2.0 g/t Ag, 0.2% Zn from 94.0m; including
- 9.0m @ 3.2 g/t AuEq – 2.9 g/t Au, 4.9 g/t Ag, 0.5% Zn from 106.0
- 26.0m @ 0.6 g/t AuEq – 0.6 g/t Au, 1.0 g/t Ag, 0.1% Zn from 50.0m
- 37.8m @ 1.0 g/t AuEq – 0.9 g/t Au, 2.0 g/t Ag, 0.2% Zn from 94.0m; including
- Hole GNDD-437:
- 26.6m @ 2.2 g/t AuEq – 2.2 g/t Au, 0.8 g/t Ag from 348.5m; including
- 4.2m @ 12.7 g/t AuEq – 12.6 g/t Au, 2.7 g/t Ag, from 356.8
- 26.6m @ 2.2 g/t AuEq – 2.2 g/t Au, 0.8 g/t Ag from 348.5m; including
Speaking on the results, Challenger Exploration Managing Director Kris Knauer said: “The results from the next series of Verde Zone drill holes have again significantly exceeded our expectations. The intercept of 67.7 metres at 7.3 g/t gold, 5.7 g/t silver and 0.6% zinc is world class. Especially given it comes from the middle of the undrilled section of the Verde Zone. We now have 2 of the 9 drill rigs on site following up this hole.
Additionally, as we drill deeper the results are confirming the presence of stacked zones of mineralisation at Verde and that we are intercepting higher-grade mineralisation at depth.”
The results come from 64 holes and three drill hole extensions that were tasked with providing data to upgrade Mineral Resources to the Indicated category. The company notes that infill and extensional work is ongoing, with four of nine drill rigs currently operating at Verde.
Plan view displaying latest drill holes (in red) at the Verde ZoneA total of 65 of the 67 holes encountered ‘significant’ gold mineralisation, with 51 intersecting at least 10 grams x metres of AuEq mineralisation.
In addition to wide zones of Verde-style mineralisation, drilling intercepted ‘significant’ zones of high-grade mineralisation at depth, which also remains open at depth. Many holes continued to encounter multiple stacked zones of mineralisation and intersections of steeper and shallower dipping mineralised zones.
The Verde Zone, which was recently discovered using surface magnetics and induced polarization , covers 1.5km of strike between the Magnata and Sanchez Faults, with mineralisation remaining open along strike and at depth.
Images: Challenger Exploration
