Challenger Exploration Deeper drilling at Verde Zone confirms high grades at depth and discovery of scale

Challenger Exploration (ASX: CEL)

Assays received for the next three Verde Zone drill holes, all recording significant intercepts, confirm CEL's geological model, and show the Verde Zone is a discovery of scale.

Results include (refer Table 1):

49.0m at 2.4 g/t AuEq2 - 1.5 g/t Au, 10.4 g/t Ag, 1.7% Zn from 310.0m including

2.9m at 17.7 g/t AuEq2 - 13.8 g/t Au, 55.1 g/t Ag, 7.2% Zn from 312.0; and
17.6m at 3.5 g/t AuEq2 - 1.8 g/t Au, 18.2 g/t Ag, 3.2% Zn from 341.5 (GNDD-336);

13.9m at 2.4g/t AuEq2 - 2.0 g/t Au, 6.0 g/t Ag, 0.7% Zn from 258.6m including;

10.3m at 3.2 g/t AuEq2 - 2.7 g/t Au, 7.9 g/t Ag, 1.0% Zn from 262.2 (GNDD-337)

110.4m at 0.6g/t AuEq2 - 0.5 g/t Au, 0.6 g/t Ag, 0.1% zinc from 60.6m including;

47.0m at 1.1 g/t AuEq2 - 1.0 g/t Au, 1.0g/t Ag, 0.2% zinc from 78.0m including;
5.5m at 6.7 g/t AuEq2 - 6.4 g/t Au, 2.1 g/t Ag, 0.6% zinc from 81.5m (GNDD-341)

GNDD-336 intersected 49 metres at 2.4 g/t AuEq downdip of earlier drilling that intersected lower grade mineralisation in sediments confirming the presence of significantly higher-grade mineralisation hosted in intrusives at depth.

GNDD-337 extended the Verde Zone 50 metres south intersecting 57 metres of mineralisation including 13.9 metres at 2.4 g/t AuEq hosted in limestone and sediments believed to lie above the main zone of intrusion hosted mineralisation.

GNDD-341 intersected 47.0 metres at 1.1 g/t AuEq within a much broader zone of 110 metres of mineralisation up-dip of GNDD-303, which was ended due to drilling problems, confirming that GNDD-303 did not reach the main zone of Verde mineralisation at depth.

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