Skip to content
Finance Investment, Oil Mining Resources

Challenger Gold (ASX: CEL) Potential to Increase High-Grade Core of El Guayabo MRE

Challenger Gold (ASX: CEL) 2 mins read

Challenger Gold (ASX: CEL) (“CEL” the “Company”) is thrilled to announce the first results from the rock saw channel sampling program at the El Guayabo Gold Copper Project in Ecuador. The sampling was designed to support the extension of the high-grade core of the existing mineralization to surface.

Key results include:

  • A significant return of 174.4m at 1.2 g/t AuEq2 - 1.1 g/t Au, 1.9 g/t Ag, 0.04 % Cu, which remains open in both directions. This includes:
    • 6.1m at 13.6 g/t AuEq2 - 13.4 g/t Au, 7.5 g/t Ag, 0.06 % Cu;
    • 9.0m at 12.6 g/t AuEq2 - 12.4 g/t Au, 11.1 g/t Ag, 0.02 % Cu, also open in both directions.

Further highlights from the initial results:

  • The first surface channels up-dip of the high-grade core of the Mineral Resource Estimate (MRE") at GY-A extends this high-grade mineralization 200 metres above the limit of the current MRE to surface.

  • Channel sampling between GY-A and GY-B intersects 174.4 metres at 1.2 g/t AuEq. This channel is located 300 metres east of any drilling, unveiling a significant new target to extend the current MRE.

  • Sampling on the western margin of GY-A has led to the discovery of a new zone of high-grade mineralization with several channels above 5 g/t AuEq including 45.8m at 1.4 g/t AuEq and 17.8m at 2.7 g/t AuEq.

CEL Managing Director, Mr. Kris Knauer, expressed his enthusiasm about the results, stating: “This is an excellent outcome from our first channel sampling program. The results point to the extension of the high-grade component of the El Guayabo MRE two hundred meters above the current drilling to surface. With this high-grade zone covering 250 meters strike and being up to 200 meters true width, a 200-meter extension to surface could materially increase the high-grade core of the MRE. Additionally, the program has extended the mineralization well beyond the limits of the current drilling, including an intersection of 174.4 metres at 1.2 g/t gold equivalent. This intersection extends 300 metres beyond any drilling at El Guayabo and opens a significant new target."

About us:

Challenger Gold Limited’s (ASX: CEL) aspiration is to become a globally significant gold producer. The Company is developing two complementary gold/copper projects in South America with am MRE of 2.8 million ounces of gold equivalent recently announced for the Hualilan Gold Project in San Juan, Argentina in 2022.

Contact details:

Jane Morgan


More from this category

  • Oil Mining Resources
  • 08/12/2023
  • 10:09
Euro Manganese Inc.

Euro Manganese Confirms Fourth Fiscal Quarter and Year-End 2023 Release Date and Conference Call Details

VANCOUVER, British Columbia, Dec. 07, 2023 (GLOBE NEWSWIRE) -- Euro Manganese Inc. (TSX-V and ASX: EMN; OTCQX: EUMNF; Frankfurt: E06) (the "Company") will file its Fourth Fiscal Quarter and Year-End 2023 financial reports after TSX.V market close on Thursday, December 14, 2023 (prior to ASX market open on Friday, December 15, 2023).Fiscal Q4 and Year-End 2023 Conference Call DetailsEuro Manganese will host its fiscal Q4 and Year-End conference calls in early January as per below. These dates take into consideration the December holiday period. Content of both calls will be the same.Calls will be hosted on Zoom, with the ability…

  • Finance Investment, Oil Mining Resources
  • 08/12/2023
  • 09:53
Queensland Pacific Metals Ltd (ASX:QPM)

Queensland Pacific Metals Ltd (ASX:QPM) – Successful HPA Demo Plant Campaign

Queensland Pacific Metals Ltd (ASX:QPM) (“QPM” or “the Company”), in partnership with Lava Blue, is thrilled to announce the successful completion of its High…

  • Contains:
  • Finance Investment, Taxation
  • 07/12/2023
  • 16:38
Chartered Accountants ANZ


Chartered Accountants Australia and New Zealand welcomes and congratulates Mr Rob Heferen on his appointment as Commissioner of Taxation. Mr Heferen is well known and highly regarded in the tax profession having previously served as Treasury's Revenue Group leader. He has written extensively on a broad range of tax policy issues. He led the Secretariat for the Henry Tax Review. CA ANZ looks forward to working with Mr Heferen and the ATO leadership team as they tackle the many challenges ahead. These include implementation of the government's international tax reforms and the ongoing modernisation of the way the federal government…

  • Contains:

Media Outreach made fast, easy, simple.

Feature your press release on Medianet's News Hub every time your distribute with Medianet. Pay per release or save with a subscription.