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Finance Investment, Oil Mining Resources

Challenger Gold (ASX: CEL) – Ongoing metallurgical testwork continues to improve Hualilan economics

Challenger Gold (ASX: CEL) 2 mins read

PERTH, WA — May 16, 2024 — Challenger Gold Limited (ASX: CEL) ("Challenger Gold" or "the Company"), an ASX listed gold explorer, is thrilled to announce significant advancements from ongoing metallurgical testwork at its Hualilan Gold Project, which have resulted in improved economic prospects and efficiencies in mineral processing.

Recent tests have successfully increased the viability of extracting zinc with head grades as low as 0.4% Zn, a substantial enhancement compared to the 1.5% Zn cut-off used in the previous scoping study. This breakthrough enables access to an additional 211.5 kt of zinc within the Hualilan Mineral Resource Estimate, compared to the 62 kt initially accounted for in the scoping study mine plan.

Key Highlights of the Metallurgical Testwork:

  • Zinc Recovery Improvements: The latest testwork demonstrates that zinc at low head grades can now be economically recovered, potentially unlocking substantial additional resources.
  • Enhanced Concentrate Grade: Zinc concentrate grades have improved to 55% from the previous 50%, enhancing the zinc payability.
  • Increased Precious Metal Recovery: Gold and silver recoveries have increased to 97.5% and 93.0%, respectively, further optimizing the project's overall yield.
  • Operational Cost Reduction: A simplified flowsheet has been introduced, reducing the reagent consumption and, consequently, the operating costs.

Managing Director, Kris Knauer commented on the results:

"We are excited to announce that our latest metallurgical testwork has significantly improved our Hualilan Project. By unlocking the potential to economically recover zinc at head grades as low as 0.4%, we are now able to access 211.5 kt of zinc within the Hualilan Mineral Resource Estimate. This is a substantial increase compared to the 62 kt of zinc initially included in the Scoping Study mine plan.

The testwork also achieved a higher zinc concentrate grade of 55%, which will notably enhance zinc payability. Alongside zinc, we have also seen improvements in gold and silver recoveries, reaching 97.5% and 93.0% respectively. The simplified flowsheet reduces reagent consumption, also has the ability to potential lower our operating costs."


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 the Company's flagship Hualilan Gold Project in San Juan, Argentina containing resources of 2.8 Moz AuEq.


Contact details:

Jane Morgan

jm@janemorganmanagement.com.au

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