Idaho Champion outlines old Champagne drilling data
2020-05-11 07:56 ET – News Release
Mr. Jonathan Buick reports
IDAHO CHAMPION ANNOUNCES HISTORICAL DRILL RESULTS AT THE CHAMPAGNE PROJECT, IDAHO, INCLUDING 1.57G/T AU AND 41.94 G/T AG OVER 71.6 METRES AND INCLUDED 4.20 G/T AU AND 35.57 G/T AG OVER 13.7 METRES
Idaho Champion Gold Mines Canada Inc. has provided historical data, including historical drilling, for the company’s past-producing Champagne project. The data were recently purchased from Kinross Gold Corp. (see press release dated March 11, 2020). Historical drill results included drill hole LC8609 which contained 1.57 grams per tonne (g/t) gold (Au) and 41.94 g/t silver (Ag) over 71.6 metres and included 4.20 g/t Au and 35.57 g/t Ag over 13.7 metres.
The data have been organized into Northern, Central and Southern areas. These data include historical drilling, trenching and geological studies focused on the recently purchased patented claims.
A historic, non-National Instrument 43-101-compliant resource of 2.3 million tons at 1.9 grams was determined by Bema Gold Corp. prior to mining (see Mine Development Associates report dated September, 1989). The computational method used to derive the resource is unknown. The resource was mined as an open-pit heap leach operation by Bema from 1989 to 1993. The remaining resource is the subject of the upcoming exploration program.
NORTHERN AREA HISTORICAL NON-NI 43-101-COMPLIANT DRILLING RESULTS Drill hole From To Au g/t Ag g/t Length m LC8602 10.7 25.9 0.89 32.27 15.2 LC8603 0 7.6 0.86 79.04 7.6 LC8609 7.6 79.2 1.57 41.94 71.6 Including 7.6 21.3 4.20 35.57 13.7 LC8624 0 32 1.00 36.96 22.9 LC8854 10.7 51.8 1.39 46.76 41.1 Including 32 41.1 2.23 83.83 9.1 The results indicated represent the currently available drill data in the historic record. The intersection lengths are core length intersections. The true width of the intersection has not been determined.
“The data is currently being used to plan a drill program for summer 2020,” president and chief executive officer Jonathan Buick stated. “We are pleased to be advancing the Champagne project as our second Idaho-focused gold project. In addition to the planned work for the Banner project in Elk City, Idaho, the recent data and land acquisition have positioned the company to explore and create value for Champion in the coming months. The data acquired identifies gold showings that were not thoroughly explored or developed during the mining efforts in the early 1990s and Champion plans to focus on these areas as well as other promising exploration targets.”
HISTORICAL NON-NI 43-101-COMPLIANT TRENCHING RESULTS Trench From To Au g/t Ag g/t Length m HRNPIT 0.00 50.29 2.59 61.37 50.30 Including 16.76 42.67 4.08 81.98 25.90 TRH15 10.67 146.30 0.83 26.13 128.00 Including 30.48 38.10 1.99 27.66 7.60 TRH16 0.00 60.96 1.62 19.01 61.00 Including 0.00 22.86 2.01 23.47 22.86 Including 45.72 54.86 2.54 31.68 9.10 TRH16 120.40 176.78 1.07 26.54 56.40 TRH17 0.00 6.10 1.16 20.28 6.10 TRH17 71.63 158.50 1.10 30.26 86.90 Including 117.35 123.44 1.86 18.58 6.10 TRH18 0.00 64.01 0.98 22.25 64.00 Including 53.34 62.48 2.30 38.88 9.14 TRH19 22.86 124.97 0.71 23.66 102.10 Including 48.77 57.91 2.32 8.28 9.10 TRH20 48.77 56.39 1.10 107.00 7.60 TRH20 60.96 68.58 1.06 106.32 7.60 TRH20 74.68 88.39 0.86 151.20 13.70 TRH20 102.11 153.92 0.72 23.46 51.80 Including 150.88 153.92 1.37 26.05 3.00 TRH21 32.00 45.72 1.47 320.68 13.70 TRH21V 24.38 91.44 1.31 147.36 54.90
Geology
The historical data were acquired by Gold Fields, then Bema, in the development of the Champagne mine. Trench data outline a gold-enriched oxide zone with shallow reverse circulation drill holes located under the trenches that outline a zone of veins and breccia pipes. Fieldwork is being planned for this field season to map and sample the Champagne mine area in preparation for a reverse circulation drill program.
The geology of the Champagne mine area is well documented in maps and reports prepared by the State of Idaho and the United States Geological Survey. Surface host rocks are Challis volcanics underlain by Devonian-Mississippian Milligan formation composed of quartzites, limestones and calcareous sediments. The Milligan formation was intruded by Idaho Batholith and subsequent igneous events that located the mineralization at Champagne.
Exploration at Champagne will focus on surface delineation of alteration and mineralization and drilling will focus on a deep target (500 metres) in the Milligan formation.
About Champagne project
The Champagne mine was operated by Bema as a heap leach operation on a high sulphidation gold system that occurs in volcanic rocks. Bema drilled 72 shallow reverse circulation holes in addition to previous operators drilling and trenching. The property had no deep drilling or modern exploration since the mine’s closure in early 1992.
The Champagne deposit contains epigenetic-style gold and silver mineralization that occurs in strongly altered Tertiary volcanic tuffs and flows of acid to intermediate composition at Lava Creek. Argillic and sericite alteration is widespread at the Champagne deposit. Silica flooding, alunite and barite are closely associated with the gold and silver mineralized zone.
Champagne has a near-surface cap of gold-silver mineralization emplaced by deep-seated, structurally controlled shears that acted as conduits for precious-metal-rich hydrothermal fluids. High-grade zones in the Champagne Deposit appear to be related to such feeder shear zones. Drilling in the future to test for polymetallic, base-precious metal deposits at depth will clarify these relationships.
Qualified person
The technical information in this press release has been reviewed and approved by Peter Karelse, PGeo, a consultant to the company, who is a qualified person as defined by NI 43-101. Mr. Karelse has more than 30 years of experience in exploration and development.
About Idaho Champion Gold Mines Canada Inc.
Champion is a discovery-focused gold exploration company that is committed to advancing its 100-per-cent-owned highly prospective mineral properties located in Idaho, United States. Champion is vested in Idaho with the Baner project in Idaho county, the Champagne project located in Butte county near Arco and four cobalt properties in Lemhi county in the Idaho cobalt belt.
We seek Safe Harbor.
Related Posts
Tags
Share This
