Past year: ▲ 1131%(11.5c – 2.07 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
2 Feb 2021drilling result▲ GoodMajor
Full results for GNDD-157 give 130.8m at 2.5 g/t AuEq, confirming a new high-grade zone in intrusives south of the Magnata Fault, with visible gold in outcrop up-dip. Defines a block 500m along strike and 400m deep, open in all directions. Two rigs refocus on it.
29 Jan 2021drilling result▲ GoodMajor
Hualilan drilling finds a new high-grade zone below the Sentazon Manto (GNDD-142: 40.5m at 6.2 g/t AuEq) and 12m at 20.9 g/t south of the Magnata Fault (GNDD-157). Mineralisation now reaches about 500m depth. 27,000m of 45,000m is drilled and 67 holes await assay.
11 Dec 2020drilling result▲ Good
Colorado V channel sampling and historical core returned 248m at 0.5 g/t AuEq in ZK16-2 and 112m at 0.6 g/t AuEq in the Humedo adit, on the flanks of two 1km soil anomalies. Grades rise toward the undrilled centres, with drilling planned early 2021.
23 Nov 2020drilling result▲ Good
New Hualilan results outside the historical resource, including 44m at 3.6 g/t AuEq (GNRC-110) and 27m at 3.9 g/t (GNRC-107), with two new high-grade skarn zones. About 16,000m of the 45,000m program is done; follow-up uses three rigs on skarn, two on intrusion.
30 Oct 2020drilling result▲ GoodMajor
First six holes into the Hualilan intrusion confirm a large intrusion-hosted gold system over at least 1km, including 39m at 5.5 g/t gold (5.7 AuEq) and 61m at 1.2 g/t AuEq. This confirms the earlier GNDD-025 and 032 discovery and extends it 300m into the Gap Zone.
30 Sept 2020drilling result▲ GoodMajor
Surface mapping and rock chips at Colorado V show high-grade gold across almost 2km of strike, including 14.4 g/t gold and 10.2 g/t gold with 498 g/t silver. The company says this lifts the potential strike of its bulk gold system from 500m to 2.5km; no drilling yet.
1 Sept 2020drilling result▲ GoodMajor
First hole into the Sanchez Zone (GNRC-068) returned 69m at 4.8 g/t AuEq from near surface, including 27m at 11.4 g/t, described as one of the top three Hualilan intercepts. A Sentazon step-out hit 2.9m at 40.3 g/t AuEq, and porphyry target strike extends to 1.5km.
21 Aug 2020resource reserve update▲ GoodMajor
New Colorado V assays from the edges of two 1km gold-copper soil anomalies led CEL to report a JORC Exploration Target of 442-468 million tonnes at 0.5-1.0 g/t gold. It is conceptual only, with no resource defined. Company compares the area to the Cangrejos project 5km away.
11 Aug 2020drilling scheduled▲ GoodMajor
Hualilan drilling program expanded from 35,000m to 45,000m at no extra cost, which the company attributes to lower contractor rates. Two new rigs are drilling, with five to six expected on site, and about 6,000m a month planned over the next 7-8 months. A ground magnetics survey shows new targets.
5 Aug 2020drilling result▲ Good
Assays for the bottom half of discovery hole GNDD-025 lift its intercept to 88m at 0.94 g/t gold, ending in mineralisation. The 1km intrusion-hosted target is now bracketed by 116m at 1.2 g/t AuEq and 88m at 1.0 g/t AuEq; it is still conceptual until drilled between.
29 July 2020drilling result▲ GoodMajor
Hole GNDD-035 hit 5.75m at 11.5 g/t gold-equivalent in high-grade skarn, extending Cerro Norte 100m south to 400m of strike. The company says Cerro Norte holds about half of the historical resource and that the skarn is open south into the Gap Zone.
27 July 2020drilling result▲ GoodMajor
Hualilan hole GNDD-032 hit 116m at 1.2 g/t gold-equivalent in porphyry, 1km south of the GNDD-025 discovery hole. This extends the new intrusion-hosted gold target to 1km of strike, and includes 6m at 10.2 g/t AuEq. Later corrected by an addendum.
8 July 2020drilling result▲ GoodMajor
Hualilan hole GNDD-025 found a new style of gold in dacite porphyry between Cerro Sur and Cerro Norte: 50m at 1.4 g/t gold, including 37m at 1.8 g/t. The company says it could substantially increase scale; the target is conceptual, with assays pending.
6 July 2020drilling result▲ GoodMajor
Three more historical Colorado V holes confirm the Ecuador discovery: ZK1-5 returned 146m at 1.5 g/t gold including 87m at 2.1 g/t, 80m along strike from ZK0-2. Five more holes are submitted for assay.
30 June 2020farm in farm out completion▲ GoodMajor
CEL has earned an initial 25% of Hualilan after spending at least A$1m, and will issue 5m and 6.67m shares (escrowed to 4 July 2021) to the Cerro Norte and Cerro Sur owners. Going from 25% to 75% requires a feasibility study within 5 years and a further 50m shares.
17 June 2020drilling result▲ GoodMajor
First 8 holes of the second Hualilan program all hit mineralisation, including 8.3m at 21.1 g/t AuEq (GNDD-020), extending high-grade strike to 1.8km. Program is now about 85 holes; 35 holes (4,400m) drilled, with 27 more awaiting assay.
3 June 2020drilling progress report▲ Good
Ecuador field work restarted after COVID-19 approvals, now logging and assaying the remaining 55 historical Colorado V holes (2-3 per week); 5 submitted so far. Re-assays of El Guayabo core confirmed historical results, including 62m at 5.2 g/t gold.
27 May 2020drilling result▲ GoodMajor
First assayed historical Colorado V hole, ZK-02, returned 151m at 0.9 g/t gold from 225m, including 63m at 1.6 g/t. Company calls it a large-scale gold discovery. It is one of 56 historical holes; more results are due, and the hole was not on the main porphyry targets.
30 Apr 2020drilling progress report● Neutral
Hualilan drilling has restarted after COVID-19 approvals, with 18 holes (2,444m) of the 7,500m program done. Sample pulps are now air-freighted to Canada for assay to avoid Peru delays; first assays are expected shortly.
18 Mar 2020drilling progress report▲ Good
Hualilan second program has 14 holes (1,950m) done, with the first five sent for assay. Surface sampling at Colorado V found porphyry-style gold-copper in four places (up to 9.5 g/t gold). General meeting set for 17 April 2020; operations unaffected by COVID-19.
24 Feb 2020drilling progress report▲ Good
A second, trailer-mounted rig was added at Hualilan to speed up the 7,500m program, with 470m drilled. The first three holes of the second campaign all hit mineralisation, including 11.95m in GNDD-011; assays are pending. A third program is possible in the first half of 2020.
11 Feb 2020drilling spud▲ GoodMajor
Second Hualilan drilling campaign started 10 February 2020: about 7,500m in three stages, with the first 2,325m (18 holes) to extend mineralisation and support a JORC resource. Follows the 10-hole first program; first assays expected within two weeks.
28 Jan 2020farm in farm out agreement▲ GoodMajor
Farm-in signed for the adjoining 957-hectare El Guayabo 2 tenement, lifting the Ecuador footprint to 3,545 hectares. CEL earns up to 80% by funding exploration through a feasibility study, with 50% after US$2m spend. Subject to 90-day due diligence; CEL can withdraw at any time.
23 Jan 2020drilling progress report▲ Good
Logging of historical Colorado V core (56 holes, 21,472m) found overlooked porphyry and intrusive-breccia mineralisation in all holes reviewed, including 300m-plus in ZK1-3. No assays yet; sampling to start shortly. Early visual findings only.
8 Jan 2020farm in farm out agreement▲ GoodMajor
Farm-in signed for the adjoining 2,331-hectare Colorado V tenement in Ecuador, owned by Goldking Mining. CEL funds exploration for 5 years to earn up to 50% of any discovery. Needs shareholder approval under Chapter 11. Existing gold operations are excluded.
30 Dec 2019drilling result▲ GoodMajor
Next three Hualilan holes all hit high-grade gold, including 10.3m at 12.9 g/t AuEq (GNDD-009) drilled 500m further south. Mineralisation is now shown over 1.7km of strike and open in all directions. Next drilling phase is on track for January.
16 Dec 2019drilling result▲ GoodMajor
First assays from Hualilan maiden drilling (7 holes) show high-grade gold over 1.5km of strike, including 6.1m at 36.2 g/t AuEq (GNDD-003) and 6.7m at 19.3 g/t AuEq (GNDD-007). First phase expanded about 50% to ~1,500m; second phase to restart late January.
15 Oct 2019drilling spud▲ GoodMajor
Maiden Hualilan drilling began 11 October; first hole GNDD-001 finished at 109m, showing brecciation, veining and sulphides at 70-90m as predicted. Part of a 9-hole, 1,055m first campaign. No assays yet; first results expected in 2-3 weeks.
25 Sept 2019drilling result▲ Good
All 70 Hualilan samples now reported, averaging 15.0 g/t gold, 75.5 g/t silver and 6.8% zinc, about 20% above the historical gold grade. Identifies new untested high-grade zones at Cerro Norte and Cerro Sur. Completes the sampling program; maiden drilling is next.
16 Sept 2019drilling scheduled▲ GoodMajor
All approvals granted and a contract signed for a maiden 2,000m diamond drilling program at Hualilan, in two 1,000m campaigns over 3 months. Rig due in 2-3 weeks. 3,333,334 shares will be issued to the Argentine partners when drilling starts.
