Idaho Champion Announces Acquisition of Historical Data for Past Producing Champagne Project
Idaho Champion Announces Acquisition of
Historical Data for
Past Producing Champagne Project
Toronto, ON – March 11, 2020 - Idaho Champion Gold Mines Canada Inc. (CSE:
ITKO) (“Champion” or the "Company"), a discovery-focused gold exploration
company, is pleased to announce that it has acquired key historical data
pertaining to the Company’s past producing Champagne Project located south-
west of Arco, Idaho, USA.
The database was purchased from Kinross Gold Corporation, who acquired
Champagne’s previous operator Bema Gold Corporation (“Bema Gold”) in 2007.
Bema Gold through its 100% owned subsidiary, Idaho Gold Corporation had
preserved the historic files. The Champagne project had a historic Non 43-101
compliant resource of 2.8MT at 1.2g/t Au equivalent (See Mine Development
Associates report dated September 1989.) Bema Gold had the Champagne mine
in production from 1989 to 1992 operating as an open pit heap leach, producing
approximately 25,000 oz of gold per year.
President and CEO Jonathan Buick Stated: “Acquiring the data package from
Kinross is a key first step in fully understanding what we believe is the tremendous
upside that Champagne has to offer. We will continue to update investors on the
findings as they are analysed. Once the data review has been completed by our
geologic team, the company will initiate a comprehensive exploration program
using modern techniques and tools with the expectation of proving up historic
resources and expanding the known discovery area.”
The company has received the majority of the data with the balance in transit to
our office. Champion’s geologic team has commenced review of what is already
in our possession. The company intends on providing regular updates of our
findings in the review process.
With the recently completed over-subscribed private placement the company
intends to fund focused geologic programs at the Baner gold project near Elk City,
Idaho and the past producing Champagne Mine near Arco, Idaho.
About Champagne Project
The Champagne Mine was operated by Bema Gold as a heap leach operation on a
high sulfidation gold system that occurs in volcanic rocks. Bema Gold drilled 72
shallow reverse circulation holes in addition to previous operators drilling and
trenching. The property has had no deep drilling or modern exploration since the
mine closure in the early 1992.
The Champagne Deposit contains epigenetic style gold and silver mineralization
that occurs in strongly altered Tertiary volca nic 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 P.Geo., 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
Idaho Champion is a discovery-focused gold exploration company that is
committed to advancing its 100% owned highly prospective mineral properties
located in Idaho, United States. The Company’s shares trade on the CSE under
the trading symbol “ITKO”. Idaho 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. Idaho
Champion strives to be a responsible environmental steward, stakeholder and a
contributing citizen to the local communities where it operates. Idaho Champion
takes its social license seriously and employ local community members and
services its operations.
ON BEHALF OF THE BOARD
“Jonathan Buick”
Jonathan Buick, President and CEO
For further information, please visit the Company’s SEDAR profile at
www.sedar.com or the Company’s corporate website at www.idahochamp.com.
For further information please contact:
Nicholas Konkin, Marketing and Communications
Phone: (416) 477 7771 ext. 205
Email: [email protected]
Cautionary Statements
Neither the Canadian Securities Exchange nor its regulation services provider has reviewed
or accepted responsibility for the adequacy or accuracy of this press release
This press release may include forward-looking information within the meaning of Canadian
securities legislation, concerning the business of the Company. Forward-looking information is
based on certain key expectations and assumptions made by the management of the Company.
Although the Company believes that the expectations and assumptions on which such forward-
looking information is based on are reasonable, undue reliance should not be placed on the
forward-looking information because the Company can give no assurance that they will prove to
be correct. Forward-looking statements contained in this press release are made as of the date of
this press release. The Company disclaims any intent or obligation to update publicly any forward-
looking information, whether as a result of new information, future events or results or otherwise,
other than as required by applicable securities laws.