Challenger Gold Limited · ASX:CEL
Challenger Gold — Challenger Exploration — Investor Presentation (June 2022)
24 slides from Challenger Gold's investor presentation, Jun 1, 2022
Slide 1: Hualilan Gold Project Maiden JORC Compliant MRE
For personal use only ASX: CEL Hualilan Gold Project Maiden JORC 2102 Compliant MRE June 1 2022 Hualilan Gold Project : Cerro Sur looking north to Cerro Norte Challenger Exploration Limited Argentina and Ecuador Gold / Copper Projects
Slide 2: Important Notices and Disclaimer
IMPORTANT NOTICES AND DISCLAIMER For personal use only DISCLAIMER This presentation is for informational purposes only and does not constitute an offer to sell, or solicitation to purchase, any securities. Such Offer can be made only through proper subscription documentation and only to investors me
Slide 3: Challenger Exploration Snapshot
CHALLENGER EXPLORATION SNAPSHOT Two significant discoveries with both grade and scale in Ecuador and Argentina • Hualilan Gold Project (100% - San Juan) - 2.1 Moz resource open in all directions For personal use only • High-grade skarn overlying a large previously unrecognised, intrusion-hosted syst
Slide 4: Company Strategy
COMPANY STRATEGY For personal use only Our Aspiration is to become a globally significant gold producer Hualilan Gold Project El Guayabo Project Company Strategy Argentina Ecuador • Hualilan to provide a high-grade low • Maiden 2.1 million ounce MRE • Exciting traditional near surface capex operatio
Slide 5: Hualilan Gold Project
HUALILAN GOLD ———— PROJECT =~ Intrusion-hosted vows [J starn-nosted mineralisation i : "5 Likely gold zone wereese Late Stage Intrusive Breccia (post mineral)
Slide 6: Interim Resource Estimate
INTERIM RESOURCE ESTIMATE (126,000 of 204,000m drilling) Dial in your preferred grade – grade tonnage distribution provides significant flexibility • Interim Resource of 2.1 million ounces comprising: Cut-off Tonnes AuEq Cut Ounces For personal use only Skarn component: 6.3 Mt at 5.6 g/t AuEq1 for
Slide 7: Key Points
Key Points • A number of coherent zones of near surface high-grade mineralisation at For personal use only Sentazon. Magnata Fault and Main Norte manto • These high-grade and near surface zones generally correlate to the indicated section of the MRE which will support a scoping study • Provides a po
Slide 8: Hualilan Is Rare - It Has Both Grade and Scale
HUALILAN IS RARE - IT HAS BOTH GRADE AND SCALE We have come a long way in 2-years but we have much further to go January 2020 For personal use only (2,000m + 15,000m Current focus areas for historical drilling) drilling May 2022 2.1MOz maiden resource September 2021 126,000m drilling 70,000m drillin
Slide 9: Type Cross Sections
TYPE CROSS SECTIONS Mineralisation open in all directions and significant increase in this Interim MRE from the full 204,000 metres For personal use only Flor De Hualilan recent drilling Located 600 metres south of the MRE 9
Slide 10: Sentazon Type Section
SENTAZON TYPE SECTION Located at the extreme southern end of the MRE and contains the most consistent and highest-grade mineralisation For personal use only Sentazon • Contribution to the MRE: i. Open Pit – 246,000 Oz ii. Underground – 89,000 Oz iii. Total - 335,000 Oz • Open to the south along stri
Slide 11: High-Grade Skarn Over 3.5 km Strike
HIGH-GRADE SKARN OVER 3.5 KM STRIKE Interim MRE covers 2.2 kilometres of this 3.5 kilometre strike For personal use only Sentazon Flor de Hulailan Adit 13.0m at 15.5 g/t AuEq inc 8.5m at 21.9 g/t AuEq Type Section 1 – Showing Geology Flor De Hualilan 11
Slide 12: Verde Zone South of the Magnata Fault
VERDE ZONE SOUTH OF THE MAGNATA FAULT Verde now extended across the Magnata Fault and open to the south Muchilera Sediment-hosted For personal use only • Contribution to the MRE: i. Open Pit – 37,000 Oz ii. Underground – 56,000 Oz iii. Total - 93,000 Oz • This zone is only lightly drilled • Open to
Slide 13: Western Extension of the Magnata Fault
WESTERN EXTENSION OF THE MAGNATA FAULT New high-grade zone discovered below shallow low grade intercepts Magnata Fault (Western) For personal use only • Contribution to the MRE: i. Open Pit – 370,000 Oz ii. Underground – 35,000 Oz Magnata iii. Total - 404,000 Oz Magnata Manto Fault Zone • Open to th
Slide 14: Central Magnata Fault Zone
CENTRAL MAGNATA FAULT ZONE Multiple Fault zones extends over 500 metres vertical extent and still open at depth Magnata Fault (Central) For personal use only • The Magnata Fault is a regional structure that can be mapped for over 10km either side of Hualilan • Mineralisation is open to the east and
Slide 15: Southern Verde Zone
SOUTHERN VERDE ZONE New high-grade zones emerging below the lower grade intrusion hosted mineralisation For personal use only Verde Zone (South) • Contribution to the MRE: i. Open Pit – 300,000 Oz ii. Underground – 37,000 Oz iii. Total - 337,000 Oz • Open to the north and south along strike and open
Slide 16: Gap Zone Mineralisation
GAP ZONE MINERALISATION Significant ounces currently below the optimised pit shell Gap Zone For personal use only • Contribution to the MRE: i. Open Pit – 118,000 Oz ii. Underground – 23,000 Oz iii. Total - 141,000 Oz • Open to the south along strike and at depth • Significant amount of mineralisati
Slide 17: Northern Verde Zone
NORTHERN VERDE ZONE New high-grade target at depth For personal use only Verde Zone (North) • Contribution to the MRE: i. Open Pit – 473,000 Oz ii. Underground – 66,000 Oz iii. Total - 539,000 Oz • Open to the north (south into Gap Zone) and open at depth • Results from a significant amount of exten
Slide 18: Potential to Increase the MRE
POTENTIAL TO INCREASE THE MRE Mineralisation remains open in all directions For personal use only Mineralisation Mt Au Ag Zn Pb Au Eq Style (0.25 g/t AuEq cut-off) (g/t) (g/t) (%) (%) (g/t) skarn 6.3 5.5 21.9 2.0 0.2 6.8 intrusion/sediment hosted 41.4 0.7 4.5 0.2 0.0 0.8 Mineralisation Au Ag Zn Pb A
Slide 19: GNDD-349
GNDD-349 5.0m at 8.7 g/t AuEq For personal use only 19
Slide 20: Robust Starter Pit and Excellent Metallurgy
ROBUST STARTER PIT AND EXCELLENT METALLURGY Produces high value and saleable concentrates at excellent recoveries For personal use only Skarn Material (Gravity + Cu/Pb and Zn Sequential Float) Intrusion-hosted material (Gravity + Single Stage Float) • Payable Recoveries into concentrate of 95% Au, 9
Slide 21: A Far Bigger Play Than Extending Within 3.5km Strike
A FAR BIGGER PLAY THAN EXTENDING WITHIN 3.5KM STRIKE Exploration has only focussed on one side of the intrusion responsible for Hualilan For personal use only Processing of surface magnetic data indicates there are at least five major intrusive centres the ATE supports the concept that 3 same age as
Slide 22: Ecuador Drilling Update
Ecuador Drilling Update - Gold with Cu, Ag, Mo credits - 500,000 Oz AuEq production1 - ASIC US$604 Oz1 1 Source Lumina Gold (TSX : LUM) PEA June 2020 Directly along strike from a 22 Moz orebody For personal use only Same geology and surface footprint 15 regionally significant Au-Cu soil anomal
Slide 23: Challenger Exploration Limited
CHALLENGER EXPLORATION LIMITED (ASX:CEL) ACN 123 591 382 Level 1, 1205 Hay Street, West Perth WA 6005 | P: +61 8 6380 9235 For personal use only Kris Knauer Scott Funston Elvis Jurcevic Jane Morgan CEO & Managing Director CFO & Finance Director Investor Relations Media Relations +61 411 885 979 +61
Slide 24: JORC Mineral Resource Estimate
JORC MINERAL RESOURCE ESTIMATE For personal use only 15.6m at 71.7 g/t AuEq (SNV10-01) JORC 2012 Mineral Resource Estimate for the Hualilan Gold Project Domain Category Mt Au g/t Ag g/t Zn % Pb % AuEq g/t AuEq (mozs) US$1800 optimised shell Indicated 18.7 1.1 5.4 0.41 0.07 1.3 0.80 > 0.25ppm AuEq In
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