Idaho Champion Announces more Historical Drill Results at its Champagne Project in Idaho
Idaho Champion Announces Historical Drill
Results at its Champagne Project, Idaho,
including 1.00 g/t Au and 12.08 g/t Ag over 53.4
metres which included 1.67 g/t Au and
18.28 g/t Ag over 18.3 metres
Phase 2 of Desktop Study Completed with Focus on the
Historic Central Area of the Past Producing Open Pit
Toronto, ON – May 14, 2020 - Idaho Champion Gold Mines Canada Inc. (CSE:
ITKO) (“Champion” or the "Company"), announces historical data (the “Data”)
including historical drilling for the Company’s past producing Champagne Project.
Historical drill results included drill hole LC8862 which contained 1.00 grams per
ton (“g/t”) gold (“Au”) and 12.08 g/t silver (“Ag”) over 53.4 metres and included
1.67 g/t Au and 18.28 g/t Ag over 18.3 metres.
Table 1: Central Area Historical Non 43-101 Compliant Drilling Results
Drill Hole From To Length (m) Au g/t Ag g/t
L88100 0 15.2 12.1 1.78 81.59
LC8614 0 27.4 27.4 1.83 55.08
Including 22.9 27.4 4.5 5.5 19.20
LC8844 18.3 35.1 16.8 0.84 40.83
LC8846 0 47.2 45.7 0.98 18.27
Including 12.2 24.4 12.2 1.54 30.64
LC8847 32 44.2 12.2 0.88 55.85
LC8850 18.3 35.1 16.8 0.80 10.50
LC8851 0 12.2 10.7 0.78 17.57
LC8851 27.4 56.4 29 1.21 20.44
Including 41.1 47.2 6.1 1.94 23.08
LC8852 0 22.9 22.9 0.74 14.03
LC8853 7.6 15.2 7.6 2.56 -
LC8862 0 54.9 53.4 1.00 12.08
Including 25.9 44.2 18.3 1.67 18.28
LC8898 0 12.2 12.2 0.79 21.60
LC8899 3 15.2 12.2 2.59 82.76
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 has been organized into Northern, Central, and Southern Areas. This
Data includes historical drilling, trenching and geological studies.
A historic, non-NI 43-101 compliant resource of 2.3 million tons (“MT”) at 1.9
grams gold was determined by Bema Gold Corporation (“Bema”) 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.
“The striking details pertaining to the historical drilling results are the length of
mineralization accompanied by the grade. This lends to our theory that there is a
larger zone that is largely underexplored,” President and CEO Jonathan Buick
stated. “While the trenching data requires further due diligence, we continue to
see strong gold values and the presence of silver which occurs throughout the
results so far.”
Figure 1: Central Area Historical Non 43-101 compliant drilling locations
Table 2: Central Non 43-101 Compliant Trenching Results
Trench From To Length (m) Au g/t Ag g/t
TRG6 24.38 35.05 6.1 3.96 23.68
TRG7 10.67 27.43 9.1 1.14 41.35
TRH10 0 56.4 56.4 0.69 12.90
Including 45.72 56.39 10.7 1.22 25.71
TRH11 0 111.25 91.4 0.71 16.51
Including 15.24 28.96 13.7 1.09 23.03
TRH12 13.72 79.25 65.5 1.01 24.67
Including 13.72 27.43 13.7 1.71 27.74
TRH13 0 126.49 103.6 0.77 22.8
Including 92.96 111.25 18.3 1.1 31.54
TRH13A 0 16.76 16.8 1.69 36.09
TRH14 3.05 68.58 65.5 0.95 23.56
TRH23 7.62 39.62 32.0 1.00 31.50
TRH9 12.19 111.25 85.3 1.47 40.96
Including 79.25 106.68 13.7 2.49 94.14
Figure 2: Central Historical Non 43-101 Compliant trenching locations
Geology
The historical data was acquired by Gold Fields Limited, then Bema, in the
development of the Champagne Mine. Trench data outlines a gold enriched oxide
zone with shallow reverse circulation drill holes located under the trenches that
outline a zone of veins and breccia pipes. Field work 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 (500m) in the Milligan
formation
Figure 3: Champagne Project Location Map
About Champagne Project
The Champagne Mine was operated by Bema as a heap leach operation on a high
sulfidation 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 the
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 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
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”. 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. Champion takes its social license seriously
and employs local community members to service 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.