Challenger Exploration (ASX: CEL) ("CEL" the "Company") is pleased to announce results from drill holes GYDD-21-007 to GYDD-21-013, the next six drill holes at its 100% owned El Guayabo GoldCopper Project in El Oro Province, Ecuador. The results follow the first seven drillholes which all recorded significant intersections including 257.8m at 1.4 g/t AuEq including 53.7m at 5.3 g/t AuEq (GYDD-21-008) and 309.8m at 0.7 g/t AuEq including 202.1 metres at 0.8 g/t AuEq (GYDD-21-006).
Next six holes all intercept over 300 metres of mineralisation, confirming a major Au-Cu-Ag discovery spanning multiple zones. Results include (refer Table 1):
307.9m at 0.6 g/t AuEq2 - 0.5 g/t Au, 2.4 g/t Ag, 0.05 % Cu from 3.0m, including;
102.9m at 1.2 g/t AuEq2 - 1.1 g/t Au, 2.7 g/t Ag, 0.04% Cu from 156.1m including;
57.0m at 1.8 g/t AuEq2 - 1.7 g/t Au, 3.6 g/t Ag, 0.03% Cu from 156.1m (GYDD-21-011)
- Four holes ended in mineralisation, including GYDD-21-011 (307.9m at 0.6 g/t AuEq from surface) stopped at 310m due to drilling problems 300 metres above the main target.
- GYDD-21-010 extends the main discovery zone 400 metres to 1000 metres of strike and GYDD-21-011 indicates the mineralisation is 1000 metres wide at the centre of this main discovery zone.
- GYDD-21-009 and GYDD-21-013 tested two new gold in soil anomalies, undrilled by CEL and the discovery of strong mineralisation significantly expands the scale of the discovery.
Commenting on the results, CEL Managing Director, Mr Kris Knauer, said
"These results confirm we have made a major discovery, that will significantly exceed our early expectations. We have extended the main discovery zone to over 1km of strike and in the central part of this zone, the mineralisation is 1 kilometre wide and remains open in all directions.
Drilling on the first two, of fifteen, targets away from the discovery zone intersected significant mineralisation. Intercepts of 700 metres of gold-copper-silver mineralisation, at the first anomaly and 300 metres in the second,show we have a major system with multiple centers of mineralisation."
