Challenger Gold Limited (ASX:CEL) has announced encouraging results from the latest six holes of its ongoing 15-hole resource drilling program at the Colorado-V Project in Ecuador.
The drilling campaign continues to yield significant intercepts, reinforcing the project’s potential.
Key highlights from the recent drilling include:
- CVDD-24-028: 701.7m at 0.4 g/t AuEq, including 461.0m at 0.5 g/t AuEq and 244.8m at 0.6 g/t AuEq
- CVDD-24-024: 711.6m at 0.4 g/t AuEq, with intervals of 401.1m at 0.5 g/t AuEq and 210.9m at 0.6 g/t AuEq
- CVDD-24-026: 537.6m at 0.5 g/t AuEq from surface
The drilling program has confirmed that the CV-A anomaly, covering an area of 400 x 800 metres, is mineralised from the surface and remains open at depth.
Kris Knauer, Managing Director of Challenger Gold, expressed enthusiasm about the results, stating: “These intersections are higher grade and wider than those from the first holes in the program.
“This round of drilling has produced intersections of over 700 metres and confirms that the entire CV-A anomaly is mineralised from surface and open at depth.”
The current drilling campaign, consisting of 15 holes with 11 completed to date, aims to establish a maiden mineral resource estimate (MRE) in compliance with the JORC (2012) Code.
The Colorado V Project’s strategic importance is underscored by its proximity to Challenger’s El Guayabo project, which boasts a reported 4.5 Moz AuEq MRE.
This positioning strengthens Challenger’s presence in the Ecuadorian gold sector.
As Challenger Gold continues to advance its Ecuadorian assets, the company remains focused on unlocking the full potential of the Colorado-V Project and establishing itself as a significant player in the region’s mining industry.
