Challenger moves towards production at Argentina project
Gold and copper exploration company Challenger Gold has announced progress towards mining and toll milling at its flagship Hualilan project in Argentina, securing multiple mining contracts and a toll milling agreement to accelerate production and cash flow.
The company has executed agreements for the extraction of high-grade gold ore at Hualilan. These contracts mark a major step in transitioning from exploration to production. Further, Challenger has secured a toll milling agreement with a regional processing facility, offering a cost-effective solution for ore processing.
Recent drilling results continue to highlight the project’s potential, with high-grade gold intersections confirming extensive mineralisation across multiple zones, reinforcing the strong economics of the Hualilan project.
The completion of toll milling pit design and mining schedules is a significant milestone as it allows us to finalise quotes for contract mining and trucking of material to Casposo.
"The final mining schedule for tolling itself represents a significant improvement over our initial case. It shows a 10% improvement in grade; delivers six-months toll milling feed in the first three months of mining; front loads cashflows with grades of 8.7 g/t gold and 34.5 g/t silver during the first year of tolling and provides significant flexibility and optionality with only three of the four pits required and an additional 120 000 t of toll milling material available in the toll milling pits," said MD Kris Knauer.
"Finally, Austral Gold, the toll mill operator, has indicated that refurbishment of the Casposo plant is progressing," he said.
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