CEL is fully funded for high impact programs on both its key assets through 2020.
Our Hualilan Gold Project in Argentina has a resource 627,000 ounces at 13.7 g/t gold which is open in all directions. Our 2020 program will include 7,500 metres of drilling (2,115 metres completed with results pending), metallurgical test work of key ore types, geophysics, an initial JORC Compliant Resource and Project economic review.
Our El Guaybo project in Ecuador has historical intercepts such as 156m @ 2.6 g/t Au, 9.7 g/t Ag, 0.2% Cu and 112m @ 0.6 % Cu, 0.7 g/t Au, 14.7 g/t Ag which have never been followed up. Our 2020 program will involve assaying of 10,000 metres of historical drill and 2 kilometres of underground rock saw channel sampling. CEL has identified significant widths of porphyry style mineralisation in both the historical drill core and the underground exploration adits which has never been sampled
Kris Knauer, Managing Director
Kris started his career as an exploration geologist before moving into investment banking, initially as a mining analyst. He led the listing of a package of copper/gold assets in Saudi Arabia to create Citadel Resources becoming the founding Managing Director. Citadel completed a DFS on the Jabal Sayid copper project in Saudi Arabia prior to it being taken over for A$1 billion.