This came across my desk over the weekend from the Sprott daily note, great to see CEL get a mention and nice to know we are on their radar -
CHALLENGER EXPLORATION (CEL-ASX, A$168m Mkt Cap) - Drill 69m @ 4.8g/t AuEq (75% Au, Ag/Zn credits) from 10m and 27m @ 11.4g/t AuEq from 10m plus 4m @ 48g/t AuEq from 14m on Hualilan in Argentina. This is a 650koz @ 13g/t skarn, headline hit is in new area targeting "Sanchez Fault" TW is lower but steep terrain previously prevented access, looks like a juicy new zone. Also 3m @ 30g/t down dip in another part of the ore body at Sentazon looks very good, down dip of 4.5m @ 6g/t. AND hit more intrusion hosted with 38m @ 1.3g/t. This is a complicated system but very big and very rich = shaping up into "will be a mine".
CEL Price at posting:
23.5¢ Sentiment: Buy Disclosure: Held
