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Challenger Exploration announces El Guayabo results

Published by
Global Mining Review,


Challenger Exploration has announced results from the company's next four drillholes from the El Guayabo Gold-Copper Project in El Oro Province, Ecuador. The results build on the results from the first two drill holes and confirm the discovery of a significant intrusion hosted gold-copper-silver-molybdenum system with all holes encountering wide zones of mineralisation associated with intrusives and intrusive breccias.

The first six holes have intersected what is interpreted as a continuous zone of intrusion-hosted mineralisation 300 m wide extending over 500 m of strike to a maximum depth of 550 m below surface. The mineralisation remains open in both directions along strike and at depth.

The company has two drill rigs on site with a depth capacity of 1200 metres using NQ core rods. The company is currently completing GYDD-22-015 and GYDD-21-016 at its 100% owned El Guayabo tenement. These holes were added to the program to follow up the mineralisation intersected in GYDD-21-006 and GYDD-21-008 (assays pending). GYDD-22-008 is logged as intersecting a 134 m interval of the same style of intrusive breccia containing extensive sheeted veining as was intersected in GYDD-21-006 with a higher sulphide content than was logged in GYDD-21-006.

Highlights

  • Most recent four holes in El Guayabo drill programme in Ecuador all intersect significant gold (Au)-copper (Cu)-silver (Ag)-molybdenum (Mo) mineralisation from near surface with three holes intersecting over 300 m of mineralisation.
  • Significant intersections include:
    • 309.8 m at 0.7 g/t AuEq – 0.2 g/t Au, 6.2 g/t Ag, 0.2% Cu from 3.3 m, including:
      • 202.1 m at 0.8 g/t AuEq – 0.3 g/t Au, 6.5 g/t Ag, 0.3% Cu from 74.4 m, including;
      • 33 m at 1.3 g/t AuEq – 0.3 g/t Au, 15.2 g/t Ag, 0.5% Cu from 74.4 m.
      • 53.6 m at 1.5 g/t AuEq – 0.7 g/t Au, 8.8 g/t Ag, 0.4% Cu from 231.9 m (GYDD-21-006).
    • 511.7 m at 0.3 g/t AuEq – 0.3 g/t Au, 0.9 g/t Ag, 0.03% Cu from 16.1m, including:
      • 88.4 m at 0.8 g/t AuEq – 0.6 g/t Au, 1.8 g/t Ag, 0.1% Cu from 389.8 m.
      • 30.4 m at 1.5 g/t AuEq – 1.4 g/t Au, 0.9 g/t Ag, 0.03% Cu from 567.3 m (GYDD-21-005).
    • 338.7 m at 0.3 g/t AuEq – 0.2 g/t Au, 1 g/t Ag, 0.03% Cu from 37.1 m.
      • 33m at 0.3 g/t AuEq – 0.2 g/t Au, 0.5 g/t Ag, 0.1% Cu from 613.5 m (GYDD-21-004).
    • 119.2m at 0.5 g/t AuEq – 0.4 g/t Au, 0.8 g/t Ag, 0.02% Cu from 71.9 m, including:
      • 26.2 m at 1.1 g/t AuEq – 1.1 g/t Au, 0.9 g/t Ag, 0.02% Cu from 76.4 m (GYDD-21-003).
  • Drilling has defined a zone of Au-Cu-Ag-Mo mineralisation covering 500 m strike and 300 m wide from near surface which is open in both directions along strike and at depth.
  • GYDD-21-006, the only hole optimally sited due to access issues, intercepted 200 m of higher-grade Cu-Au-Ag mineralisation hosted in intrusive breccia with sheeted veining.
  • GYDD-21-008 (assays pending) designed to extend this higher-grade zone of sheeted vein hosted mineralisation in GYDD-21-006 has intercepted similar mineralisation containing more sulfides.

CEL Managing Director, Kris Knauer, said: “Drillhole GYDD-21-006 is the first hole to give us a look at the type of mineralisation we might expect at El Guayabo. The three earlier holes were all drilled from the centre of the soil anomaly out due to the topography and we felt they drilled above the main zone of higher-grade mineralisation.

“We drilled hole 6 at a different azimuth to target what we now feel is a steep zone of mineralisation and this returned instant rewards. In addition, logging indicates GYDD-21-008, drilled to follow up GYDD-21-006, has intercepted similar mineralisation to GYDD-21-006 with a higher content of sulfides. We have rushed assays for GYDD-21-008 with results anticipated in 2 – 3 weeks.”

Read the article online at: https://www.globalminingreview.com/exploration-development/23022022/challenger-exploration-announces-el-guayabo-results/

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