Idaho Champion Gold Completes 2020 Exploration Program at Champagne Gold Project
Idaho Champion Gold Completes 2020
Exploration Program at Champagne Gold Project
Toronto, ON – December 16, 2020 - Idaho Champion Gold Mines Canada Inc. (CSE:
ITKO) (OTCQB: GLDRF) (FSE: 1QB1)(“Idaho Champion” or the "Company") is pleased
to report the completion of the 2020 exploration program at the Company’s Champagne
Gold Project (“Champagne”).
2020 Champagne Exploration Highlights
* The 2020 exploration program focused on drilling along a 1.3 km length within 5
patented claims owned by the Company;
* Completed five (5) reverse-circulation (RC) drill holes totaling 935 metres – located
on the east side and within the North Pit of the past producing Champagne Mine;
* Completed seven (7) core holes totaling approximately 2,800 metres – targeting
depth and strike extensions from both the North and South Pits and the nearby
historic Ella Mine. First announcement of RC and core drill results will be in
January 2021;
* Collected 594 soil samples, completed an orientation survey and five induced
polarization/resistivity (“IP”) grid lines, and collected 184 rock samples from
outcrops, historic mines, and mine dumps;
* Staked new ground to bring the number of unpatented claims to 329, in addition
to the large group of patented claims, for a total property position of 26.98 km2;
* Conducted an IP survey along six lines totaling 21.4 kilometres; and
* Completed geologic mapping (at a scale of 1:2,000) over approximately 10 km2 of
the Mine Hill and central area of the claim block, where most targets have been
developed so far.
“The initial focus of the 2020 exploration was to drill test the depth extension of gold
mineralization exploited in the North and South Pits at Mine Hill,” states Jonathan Buick,
President and CEO. “By focusing our attention on drilling within the patented claims first,
we were able to launch the program quickly and assess the targets associated with the
historic Bema Gold operation. Some of these holes were directed at historic high-grade
sulfide veins and breccias reported from the historic Moran Tunnel beneath the South Pit.
Our 2020 program of mapping, sampling and geophysics has improved our
understanding of the bigger picture for Champagne – new targets are beginning to
emerge all over the property.”
Drilling Program
Idaho Champion’s drill program at Champagne was initiated in late August (See Press
Release dated August 19, 2020). The 2020 drill holes are shown on a map relative to the
patented claims and historic mines in Figure 1. The program began with RC drilling of five
holes - two vertical holes (CC-01 and 02) were collared southeast of the North Pit and
three angled holes (CC-03, 04, 05) were collared in the bottom of the pit. Drill hole CC-
05 is of particular interest as it was drilled at a -450 angle westward to a depth of 317
metres and toward the northward projected continuation of the Last Chance Zone and
breccia veins intersected in the historic Moran Tunnel.
The technical team made the decision to switch to core drilling (See press release dated
September 30, 2020). The first five core holes were collared in and around the North and
South Pits. The last two holes are positioned well north of the North Pit in the vicinity of
the Ella breccia vein. The drill program was completed with a total of approximately 3,735
metres drilled.
Figure 1 – 2020 Champagne Drill Hole Location Map
While Idaho Champion’s technical team identified sulfide mineralization and extensive
alteration in the core, the assay results are still pending from the lab. The Company now
estimates that the first announcement of drill results will be in January 2021.
Sampling Program
Idaho Champion’s sampling crews collected a total of 594 soil samples, including three
orientation survey lines and five geophysical IP Lines (see Figure 2). The orientation
sampling demonstrated that soil sampling can be an effective tool for mapping gold,
silver, and base metals associated with the widespread alteration and structure across
the property. More soil sampling is planned for 2021. Geologists also collected 189 rock
samples from outcrops, historical mines, and mine dumps. The soil and rock samples
have been sent for analysis and results are expected early in Q1 2021.
Figure 2- 2020 Champagne Soil Sample Location Map
Figure 3 - 2020 Champagne Rock Chip Sample Location Map
Staking
The Company acquired additional ground by staking new federal mining claims beyond
the original property package controlled by Idaho Champion. The property outline is
shown in Figure 3, including the patented claims that encompass the North Pit of the
historic Champagne Mine. The property package now spans more than 26.98 km2 (10
mi2) and includes 329 claims.
Figure 4 - Champagne Property Position
IP Survey
The IP survey was designed to assess the large area of surface alteration that blankets
much of the property package for indications of sulfide mineralization at depth (See press
release dated October 15, 2020). The survey consisted of six lines totaling 21.4 line
kilometres and 200-metre dipole spacing. The results of the IP survey are being compiled
and interpreted by the geophysicists. The Company intends to announce its findings
when completed.
Geological Mapping
Geological mapping at a scale of 1:2,000 has been conducted over approximately 40%
of the Champagne land position. The initial focus has been around the historic mining
areas and other areas of evident hydrothermal alteration at surface. The technical team
has concluded based on the geology and a preliminary interpretation of the geochemistry
that the rocks of the Champagne Project have been subjected to several generations of
mineralization related to multiple episodes of explosive volatile release from deep-seated
igneous activity. Elements of the mineralizing system are clearly epithermal in nature, but
there is also mineralization with a connection to higher temperature magmatic fluids.
All of the larger historic vein mines on the property, as well as the deposits exploited by
open pit mining in the 1990’s, were found to include hydrothermal breccias with in-filling
sulfide and sulfosalt mineralization of silver-rich polymetallic character (lead-zinc).
Previous workers have documented a distinct copper signature in this mineralization
characterized by an abundance of unusual accessory sulfosalt minerals with antimony
and bismuth, such as famotine (Cu3SbS4), aikinite (PbCuBiS3), tetrahedrite
[(Cu,Fe)12Sb4S13], and stannite (Cu2FeSnS4).
The historic Moran Tunnel was documented to include polymetallic vein mineralization.
There were small shipments of copper ore reported from several veins in the Moran
Tunnel, but silver, lead, and zinc mineralization were noted as enveloping the central
copper-rich lodes. The distribution of the polymetallic veins in the Moran Tunnel and in
other prospects around the project suggests large-scale metal zoning, consistent with
that seen in large scale porphyry copper systems.
Idaho Champion’s geologists carefully mapped the South Pit, where mineralized
structures were found to be pyritiferous vuggy silica breccia veins with anomalous gold
(up to 2.67 grams per tonne) and silver (up to 5.76 grams per tonne) and weakly
anomalous copper (up to 164 ppm). However, the South Pit mineralization was
consistently low in lead and zinc. A few similar vuggy silica breccia outcrops are left
exposed in the reclaimed North Pit. Here there is strong associated clay-pyrite alteration
with alunite present as vug infillings. The principle gangue minerals are pyrite and
marcasite, which occur in sub-equal proportions.
The mapping around these historic mines supports a preliminary conclusion that the
Champagne mineral system included an early silver-rich polymetallic mineralizing event
followed by a gold-silver high-sulfidation event. The characteristics of both the
polymetallic and gold-silver veins and breccia are typical of an epithermal mineralizing
system. The geochemical zoning, alteration, and overlapping styles of mineralization are
indicators of a possible deep-seated porphyry copper (molybdenum) intrusion as the
source of the mineralizing fluids.
The geological setting of the Champagne Project is presented in the geologic map in
Figure 4. The mapping indicates that the gold, silver, and polymetallic deposits at
Champagne are part of a resurgent collapsed volcanic caldera in the Challis Volcanics.
Due to backlogs at the major assay laboratories, results remain pending, including gold
and multi-element analyses on soils, rocks, and drill samples. However, the preliminary
interpretations of the geological mapping, sampling, and geophysics have provided a
much more complete picture of the project’s potential for both shallow gold/silver targets
and deeper porphyry copper style mineralization. Idaho Champion will be reporting on
the balance of the drill program and geophysical results once final results are in hand.
Figure 5 – Champagne Generalized Geologic Map
About the 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 on the project, which complment 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.
* The Company cautions that the information about the past-producing mine may not be
indicative of mineralization on Champion’s property, and if mineralization does occur, that
it will occur in sufficient quantity or grade that would result in an economic extraction
scenario. The historic data were simply used to evaluate the prospective nature of the
property. The Company has not yet conducted sufficient exploration to ascertain if a
mineral resource is present on the property.
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) 477- 7771 ext. 205
Email: [email protected]