Idaho Champion Completes 2021 IP Survey, Outlining Significant Anomaly Covering Nearly 8 Square Kilometers at Champagne Gold Project
Idaho Champion Completes 2021 IP Survey,
Outlining Significant Anomaly Covering Nearly 8
Square Kilometers at Champagne Gold Project
Toronto, ON – December 6, 2021 - Idaho Champion Gold Mines Canada Inc. (CSE: ITKO;
OTCQB: GLDRF; FSE: 1QB1) (“Idaho Champion” or the "Company") reports the final
results of the 2021 induced polarization/resistivity (IP) geophysical survey at its 100%-
controlled Champagne Gold Project (“Champagne”) near the city of Arco, Butte County,
Idaho.
The Company completed two new IP lines north of the 2020 IP survey (Lines -07 and -
08) totalling 7,800 metres (m) and extended the survey coverage west by 1,400 m. The
new data identify continuation of the previously reported chargeability anomalies to the
north and west. As a result, Idaho Champion has now mapped the St. Louis-Reliance
Corridor IP anomaly over an area that is more than 3,000m north-south by 2,500m east-
west (See Figure 1).
Idaho Champion’s Chief Geologist Robert Kell commented: “Our expanded IP
program has better defined the footprint of this huge IP chargeability feature at the
Champagne Project. The new data on the north and west improve our understanding of
the geometry of the anomaly and the importance of the structural geology controls on
the system. The IP anomalies continue to reflect strong magnitudes and continuity to
depth, particularly on line 7 and the western end of line 6. The drilling so far has shown
us evidence of intense veining and increasing alteration with depth. It will be important to
integrate all the drill results with the new geophysical data to identify the best vectors to
where this large system goes at depth.”
IP Program Summary
The completed IP lines outline a large chargeable volume covering nearly eight square
kilometers, including a long axis of 2,400m parallel to the strike direction of the drill-
indicated vein system. The IP chargeability can be shown in three dimensions to support
the interpreted detachment of the Mine Hill mineralization from the underlying root zone
to the north. The updated longitudinal section through the St. Louis – Reliance Corridor
with a preliminary interpretation of metal zoning shows a central uplift approaching a
kilometer in length (Figure 2). The fault geometry is complex and the Company’s
understanding of it is evolving, but there are at least three target areas warranting more
work.
Most important is the root zone to the Mine Hill vein system and breccia bodies which
appears to lie beneath a flat fault and weakly altered tuffaceous volcanic rocks. Drill holes
DDH-CC-21-02 and 03 only tested the western edge of the target and DDH-CC-21-02
contained
Figure 1: 2021 St. Louis-Reliance Corridor IP anomaly location at 1,600 metres elevation
encouraging narrow high-grade veining (See Company news release dated November 4,
2021). The eastern end of this target appears to have a somewhat muted IP response,
but this is interpreted to be related to a thick section of covering volcanics above the
target zone. The best opportunities to test this feature are likely from the valley in the
southeastern part of the anomaly.
The second and third target areas outlined to the north-northwest appear to be the
Figure 2: updated longitudinal section through the St. Louis – Reliance Corridor
continuation of the Mine Hill root zone going north. The team continues to evaluate the
geophysics, geochemistry, and structural geology of this corridor in three dimensions.
These northern targets remain completely untested.
Details of New and Extended IP Survey Lines
IP lines 7 and 8 were added to the northern part of the grid, at 500m spacings from IP
line 5 (Figure 1). The lengthy survey lines and configuration enabled considerable depth
of resolution. Three strong IP responses, reaching 25 to 30 milliseconds, occur on line 7
at approximately 200m depth. These features span between stations 400E to 50E, 100E
to 500W, and 800W to 1400W (Figure 3).
The pattern of the two-lobed chargeability high continues onto IP line 8. While the
magnitude of the response is more subdued (20 – 22 milliseconds), the feature occurs at
a similar depth as on line 7 (200 – 300m). The pseudosection shows the response
occurring between stations 0 to 500W, and 800W to 1200W (Figure 3). Idaho Champion’s
surface geologic mapping in this area revealed supergene leached, iron-stained and clay-
altered volcanic tuff units. Farther east, several dacite porphyry intrusive plugs were
found to intrude the tuff units that occur along line 8. Geologists also recognized a 100m
diameter silicified breccia pipe cutting the tuff units in the vicinity of the porphyry plugs.
The occurrences of the dacite porphyry plugs and breccia pipe are expressed as a
shallow “floating” chargeability anomaly up to 30 milliseconds in magnitude between
stations 400E and 1200E on line 8. The IP results indicate these features are rootless,
which suggests that this block has been displaced eastward by as much as 1,000 meters
along a flat-lying detachment fault. Reconstructing that fault displacement would shift
these shallow IP anomalies back to a position capping the large IP anomaly to the west.
At approximately 850W on IP Line 8, Idaho Champion geologists collected several rock
samples from outcrops of silicified fault-brecciated tuff. The samples yielded anomalous
values of 0.343 g/t gold and 8.35 g/t silver, and 0.149g/t gold and 10.5 g/tsilver,
respectively. These rock samples were also anomalous in lead (1,485 pm) and weakly
anomalous in copper. The polymetallic anomalies in this area are interpreted to reflect
late-stage, high-level leakage along fault structures from deeper seated mineralization.
IP line 6 was extended from last year’s stopping point at 1200W to station 2600W(Figure
4). The line now documents an immense and strong chargeability response that spans
more than two kilometers across, from approximately 1800W to 300E, and is open at
depth. Based on a historic vertical core hole drilled by Phelps Dodge Corporation in 1980,
the western part of the IP anomaly appears to be pyritized, carbonaceous, sedimentary
“basement” rocks of the Mississippian McGowan Creek Formation.
Figure 3: Modeled Pseudo Section IP Lines 7 and 8
Based on preliminary results from the 2021 drilling, the eastern part of the anomaly was
found to have been comprised of highly clay/sericite-silica-pyrite-altered Challis volcanic
rocks and porphyritic latite dikes. Assays are still pending from drill holes DDH-CC-21-
03 and 06, but the alteration and interpreted low-angle faulting is encouraging. The vein
system and breccia bodies comprising the root zone to the displaced Mine Hill
mineralization are interpreted to lie beneath a significant near flat -lying fault zone
intersected in DDH-CC-21-06. The team will incorporate the completed assays into an
updated interpretation of line 6 and its eastern targets.
Figure 4 – Modeled Pseudo Section IP Line 6
About the Champagne Project
The Champagne Mine was operated by Bema Gold as a heap leach operation on an
epithermal gold-silver system that occurs in volcanic rocks. Bema Gold drilled 72 shallow
reverse circulation holes on the project, which complement drilling and trenching from
other previous operators. The property has had no deep drilling or significant modern
exploration since the mine 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. Champagne has a near-surface cap of gold-silver mineralization emplaced
by deep-seated structures that acted as conduits for precious metal rich hydrothermal
fluids. Higher grade zones in the Champagne Deposit appear to be related to such feeder
zones.
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 Gold Mines Inc.
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”,
on the OTCQB under the trading symbol “GLDRF”, and on the Frankfurt Stock Exchange
under the symbol “1QB1”. 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,
employing local community members and service providers at its operations whenever
possible.
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) 567- 9087
Email: [email protected]
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