Challenger Gold (ASX:CEL) is targeting commercial production from the phase one heap leach operation at its Hualilán gold project in Argentina by early 2029, according to a Thursday filing with the Australian bourse.

Following a review of strategic priorities, the company's new leadership team is prioritizing Hualilán stand-alone gold production as its primary objective, underpinned by a positive pre-feasibility study released in May.

The study outlined production of 1.8 million gold-equivalent ounces over a more than 14-year mine life, averaging 135,000 ounces gold-equivalent production annually after the first two years.

Detailed engineering at Hualilán is already well underway, and the company is "proactively bringing forward expenditure on engineering and earthworks to support an accelerated development schedule," it said.

Meanwhile, Challenger Gold is also considering secondary listing options to boost its exposure to a broader range of international institutional investors.

The company's shares fell 1% in recent Thursday trade.