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Delayed Australian Stock Exchange  -  05/20 02:10:08 am EDT
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05/03Challenger Exploration Achieves High Recovery Rates from Hualilan Project in Argentina
05/02Challenger Exploration Reports Results from its Balance of its Stage 1 Metallurgical Testing at Flagship Hualilan Gold Project, in San Juan Argentina
05/02CHALLENGER EXPLORATION : Application for quotation of securities - CEL
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Challenger Exploration Announces Results from the its Flagship Hualilan Gold Project in San Juan, Argentina

11/21/2021 | 04:54pm EDT

Challenger Exploration announced results from the Company's flagship Hualilan Gold Project in San Juan, Argentina. The results are from GNDD-397, the first hole to be drilled up-dip into the Hualilan Hills using the recently arrived track mounted drill rig. The drilling in the Hualilan Hills follows the results of the first rock saw channel sampling to extend above ground level, which indicated the likelihood that strongest grades occur in the Hualilan Hills. This channel sampling program was designed to allow the inclusion of the component of the historical high-grade mineralisation, which is up-dip of the Company's drilling, in a resource estimate that can be reported according to JORC. Results from this program at Cerro Norte, included 15.6 metres at 71.7 g/t AuEq (inc 4.0 metres at 203.8 g/t AuEq) from approximately 100 metres up-dip from ground level, with grades trending higher as sampling moved up-dip into the Hualilan Hills. Previous drilling by Challenger has consisted of a series of drill holes collared on the plain surrounding the Hualilan Hills, targeting the down-dip extensions of the historically defined high-grade mineralisation. The Hualilan Hills extend up to 200 metres above the plains and while mineralization was historically mapped outcropping up into the hills, drilling had not been possible due to access issues. Additionally, drilling in the Hualilan Hills was not deemed high-priority prior to the excellent results of the channel sampling, which indicated the presence of bonanza grades up-dip from drilling. GNDD-397 is the first in a series of additional holes in progress stepping progressively higher into the Hualilan Hills at Cerro Norte, along a recently completed access road. GNDD-397 was collared approximately 25 metres vertically above the plain, some 50 metres up-dip from previous CEL drilling. The hole successfully intersected the prognosed up-dip extension of the main Cerro Norte Manto, intersecting 5.0 metres at 19.9 g/t AuEq (17.3 g/t gold, 30.1 g/t silver, 5.1% zinc) from 15.0m including; 3.0 metres at 32.5 g/t AuEq (28.2 g/t gold, 49.8 g/t silver, 8.3% zinc). Additionally, the hole encountered two deeper zones of mineralisation, intersecting 4 metres at 0.4 g/t AuEq from 50.0m and 4 metres at 0.6 g/t AuEq from 98.0m. Both these deeper zones are hosted in intrusives and correlate with the prognosed position of the Gap Zone mineralisation, approximately 250 metres south. GNDD-397 was located 80 metres up-dip of CEL drill hole GNRC-078 (1 metre at 1.2 g/t AuEq) and 50 metres up-dip of GNRC-064 (1 metre at 1.6 g/t AuEq and 1 metre at 1.7 g/t AuEq). Additionally, GNDD-397 is located approximately 30 metres up-dip from channel sample RNNV12-01 (35.2 metres at 6.9 g/t AuEq) and 20 metres north along strike of RNNV12-10 (8.7 metres at 15.0 g/t AuEq). Drill holes GNRC-064 and GNRC-078 and channel sample RVNN12-01, recorded significantly lower grades than were intersected in drillhole GNDD-397. This supports the interpretation of better grades, as the Company continues the program of drilling higher into the Hualilan hills. With this first hole validating the Company's model of bonanza grade mineralisation up-dip, the undrilled potential in the Hualilan Hills could make a significant contribution to the high-grade endowment of the Hualilan Gold Project. High-grade mineralisation has been mapped in outcrop in the Hualilan Hills over 300 meters of strike at Cerro Norte, 600 meters strike between the Magnata Fault and Sentazon and for 500 metres south of the Flor de Hualilan Adit. The Company's current drilling has intersected high-grade manto mineralisation, from surface to 200-300 metres down-dip and there is an additional 200-300 metres up-dip potential to the top of the Hualilan Hills. This potential will be addressed by the current program of 49 drill holes, using the track-mounted drill rig. The majority of this drilling, 25 of 49 drill holes, is currently programmed at Cerro Norte where access roads have been completed. Conditional on results at Sentazon and Magnata, it is likely additional access roads will be constructed to expand the program.

© S&P Capital IQ 2021
05/03Challenger Exploration Achieves High Recovery Rates from Hualilan Project in Argentina
05/02Challenger Exploration Reports Results from its Balance of its Stage 1 Metallurgical Te..
05/02CHALLENGER EXPLORATION : Application for quotation of securities - CEL
04/22CHALLENGER EXPLORATION : Application for quotation of securities - CEL
04/21Challenger Exploration Hits Multiple Mineralization Zones at Ecuador's El Guayabo Proje..
04/21CHALLENGER EXPLORATION : Drilling Confirms Significant Scale at El Guayabo Project
04/21Challenger Exploration Announces Results from Drill Holes GYDD-21-007 to GYDD-21-013, t..
03/30CHALLENGER EXPLORATION : Application for quotation of securities - CEL
03/29Challenger Exploration Extends High-Grade Gold Mineralization at Argentina's Hualilan P..
03/29CHALLENGER EXPLORATION : High Grade Gold Mineralisation Extended at Hualilan
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Sales 2021 - - -
Net income 2021 0,60 M 0,42 M 0,42 M
Net cash 2021 44,0 M 31,1 M 31,1 M
P/E ratio 2021 275x
Yield 2021 -
Capitalization 276 M 195 M 195 M
EV / Sales 2020 -
EV / Sales 2021 -
Nbr of Employees 3
Free-Float 74,6%
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Managers and Directors
Kris David Knauer Chief Executive Officer, MD & Executive Director
Francis Scott Funston CFO, Secretary & Executive Director
Fletcher Christeson Quinn Non-Executive Chairman
Stuart Munroe Exploration Manager
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