#ecuadorgold

Challenger Gold Limited (ASX:CEL) has delivered a standout March 2025 quarter, achieving a 100% increase in Mineral Resource Estimate at its Ecuador projects and accelerating mining readiness at its Hualilan Gold Project in Argentina.

Challenger Gold:CEL is trading at $0.081.

Quarterly Highlights:

Ecuador Gold Resource Doubles to 9.1Moz AuEq

🚀 Major growth milestone — among largest undeveloped gold assets in South America

🏆 6.9Moz AuEq attributable to CEL across El Guayabo (100%) & Colorado V (50%)

⛏️ High-grade core of 2.1Moz @ 1.0 g/t AuEq enables early-stage production upside

🔍 Mineralisation confirmed in all 13 drilled anomalies — open along strike & depth

🧭 Strategic options under review: TSX listing, JV or asset sale

Hualilan Project (Argentina) Moves Toward Production

🛠️ Final pit designs complete for Sanchez, Norte, and Magnata

🏗️ Toll Milling plan based entirely on Indicated Resources — Inferred material stockpiled

⚙️ Flexible mining strategy: Sentazon pit on standby

🏭 Refurbishment underway on toll milling plant; PFS near completion (JORC + NI 43-101)

👷‍♂️ Veteran mining leader Ubirata De Oliveira appointed GM Operations

Corporate & Funding Milestones:

🎖️ Eduardo Elsztain appointed Chairman — leading Argentine businessman with mining, property & agri-sector pedigree

💰 US$2M drawn from US$20M project finance facility to support early mining & corporate needs

🧪 $2.9M exploration spend, majority at Hualilan including strategic surface rights acquisition

📊 Admin/corporate spend $1.4M, including PFS and IR one-off costs

Strategic Momentum:

💵 Early Cash Flow Potential

Front-loaded mining schedule designed to unlock high-grade ore from Day 1

3–6-month stockpile buffer ensures operational continuity

📈 Valuation Re-Rate Potential

Resource growth + TSX listing/farm-in pathways offer clear rerating catalysts

🌎 LatAm Gold Exposure with De-risked Development Path

Hualilan and Ecuador projects advancing toward production with defined timelines and funding support

Why Challenger Gold Is One to Watch: From resource scale-up to near-term production and corporate re-positioning, Challenger Gold is building a platform to become a leading gold developer in Latin America.

✨ High-grade gold. Smart strategy. Strategic growth unlocked.

🔗 Full editorial here: https://colitco.com/challenger-gold-achieves-milestone-march-2025-quarter/

Challenger Gold Ltd (ASX: CEL) has delivered a 100% increase in its Mineral Resource Estimate across its Ecuador projects, now totalling 9.1 million ounces of gold equivalent (AuEq)—making it one of the largest undeveloped gold resources in South America.

The updated MRE includes:

✅ 567Mt @ 0.50g/t AuEq ✅ High-grade core of 2.1Moz @ 1.0g/t AuEq, with 1.2Moz @ 1.2g/t AuEq ✅ Resources defined from drilling just 5 of 15 major anomalies

🗣️ MD Kris Knauer commented:

“This is a transformational milestone that unlocks significant value for our shareholders and enables us to fully focus on advancing our flagship Hualilan Gold Project in Argentina.”

🚀 Strategic Path Forward for Ecuador Assets: 📌 Potential TSX spinout to capture premium valuation 🤝 Strategic sale or farm-in partnership under consideration 🛣️ Infrastructure advantages: 35km from port, power, water, and road access already in place

🏆 Investor’s Outlook:

Following the significant Ecuador resource update, Challenger Gold is strategically repositioning for growth. With Ecuador's world-class scale attracting global interest and monetisation pathways in place, investor focus now sharpens on the fully-owned Hualilan Gold Project in Argentina.

🌟 Hualilan Highlights:

⚒️ 2.8Moz AuEq total resource with high-grade core of 1.5Moz @ 5.6g/t AuEq 💰 Toll milling deal to generate near-term cash flow ⛏️ Open mineralisation with long-term production upside

📈 ASX: CEL last traded at A$0.056, reflecting renewed investor interest following the major resource upgrade.

🔗 Read the full announcement - https://colitco.com/challenger-gold-doubles-ecuador-resource-2025/