Champion Electric Commences 2023 Field Program at the Twin Peaks Cobalt Project in Idaho
Champion Electric Commences 2023 Field Program at the
Twin Peaks Cobalt Project in Idaho
Toronto, ON – June 21, 2023 – Champion Electric Metals Inc. (CSE: LTHM; OTCQB: GLDRF;
FSE: 1QB0) (“Champion Electric” or the "Company") is pleased to announce that the Company
has mobilized its US technical team to the Twin Peaks cobalt project to commence the 2023
field program in the Idaho Cobalt Belt (see Figure 1). The campaign will begin with geologic
mapping and rock sampling in conjunction with a reconnaissance stream sediment sampling
program (see Figure 2).
Figure 1: Champion Electric Cobalt Properties
“We intend for this program of stream sediment sampling to provide rapid project-wide
geochemical reconnaissance. Contemporaneous geologic mapping and selective rock sampling
along drainages will serve as our first systematic traverses across the Twin Peaks property. In
addition to cobalt, this rigorous recon program will also map the concentrations of base and
precious metals in this fertile belt. Areas for more comprehensive geologic mapping will be
prioritized based on observations made along these traverses, in conjunction with results from
the just-completed drone-based aeromagnetic survey, and on geochemical results from rock
and stream sediment samples. We expect the second phase of prospecting and geologic
mapping to begin in July 2023,” commented President and CEO Jonathan Buick.
“Our goals include examining a possible relationship between copper-silver mineralization at the
Badger Basin prospect and historical copper-lead-silver-gold mining at the Twin Peaks Mine.
Additionally, the potential for Idaho Cobalt Belt -style copper-cobalt mineralization will be
examined within the same metasedimentary rock sequence that hosts Electra Battery Materials’
Iron Creek resource located 3 km to the northwest,” he added.
Figure 2: Cobalt Property Sampling Locations
The Twin Peaks Project includes both the historical Twin Peaks copper mine and the Badger
Basin prospect (refer to the Idaho Champion Press Release of March 23, 2023). The property is
at an early stage of exploration but located approximately 3 kilometres southeast from Electra
Battery Metals’ advanced exploration stage Iron Creek Project, which boasts an indicated
resource of 4.4 Mt* grading 0.19% cobalt (Co) and 0.73% copper (Cu) and 1.2 Mt* grading 0.08%
Co and 1.34% Cu in the inferred category (NI 43-101 Technical Report and Mineral Resource
Estimate for the Iron Creek Cobalt-Copper Property, Lemhi County, Idaho, USA).
* The Projects are at an early stage of exploration, and the Company cautions that the qualified
persons who have reviewed and approved this news release have not verified scientific or
technical information produced by third parties.
Further, proximity to projects containing cobalt-copper resources offers no assurance that the
rock types or resources reported by Electra, Jervois and others will extend onto the Projects; nor
should such proximity be assumed to imply similarity to mineralization and results reported by
other companies in the district.
Qualified Person
Patrick Highsmith, Certified Professional Geologist (AIPG CPG # 11702) and director of the
Company, is a qualified person as defined by National Instrument 43-101. Mr. Highsmith has
helped prepare, reviewed, and approved the technical information in this news release.
About Champion Electric Metals Inc.
Champion Electric is a discovery-focused exploration company that is committed to advancing
its highly prospective lithium properties in Quebec, Canada and cobalt properties in Idaho,
United States. In addition, the Company owns the Baner gold project in Idaho County and the
Champagne polymetallic project in Butte County near Arco.
The Company’s shares trade on the CSE under the trading symbol “LTHM”, on the OTCQB
under the trading symbol “GLDRF”, and on the Frankfurt Stock Exchange under the symbol
“1QB0”. Champion Electric strives to be a responsible environmental steward, stakeholder and
contributing citizen to the local communities where it operates, taking its social license seriously,
employing local community members and service providers at its operations whenever possible.
ON BEHALF OF THE BOARD OF CHAMPION ELECTRIC
“Jonathan Buick”
President and CEO
To learn more, please visit the Company’s SEDAR profile at www.sedar.com or the Company’s
corporate website at www.champem.com.
For further information, please contact:
Investor Relations and Communications
Phone: (416) 567-9087
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 management of the Company, including closing of the Transactions and the prospectivity of
the Projects for lithium. 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 applica ble
securities laws.
The Projects are at an early stage of exploration, and the Com pany cautions that the qualified persons who have reviewed and
approved this news release have not verified scientific or technical information produced by third parties,