Idaho Champion Gold Defines New Mineralized Corridor through Drilling at Champagne Project
Idaho Champion Gold Defines New Mineralized
Corridor through Drilling at Champagne Project
Several significant veins composed of sulfide and sulfosalt
mineralization have been intersected
Toronto, ON – September 14, 2021 - Idaho Champion Gold Mines Canada Inc. (CSE:
ITKO; OTCQB: GLDRF; FSE: 1QB1)(“Idaho Champion” or the "Company") is pleased to
provide an update on the 2021 exploration program at its 100% controlled Champagne
Gold Project (“Champagne”) near the city of Arco, Butte County, Idaho.
Recently announced core drilling (See press release dated July 7, 2021) has identified a
new mineralized Corridor which is located on the high priority anomalous drill target area
to the north-west of the past producing open pits and covers approximately 800 metres
north-south and 300 metres east-west.
Drill core for holes one (1) through four (4) have been sent to the lab for assay and
Champion is currently cutting and logging holes five (5) through seven (7) with a total of
2,900 metres drilled to date.
Figure 1: Drill Core from DDH-CC-21-02 showing fracture veinlets and narrow veins of sulfides
“The targets for the 2021 drill program are the displaced roots of the multiple veins of the
Mine Hill polymetallic (Ag, Pb-Zn-Ag, and Cu-Ag) system and also nearby vuggy silica
sheeted breccias mined for Au-Ag at the North and South Pits,” commented Chief
Geologist, Rob Kell. “The characteristics of the vein system and sheeted breccia are
typical of high sulfidation epithermal deposits sourced from a porphyry copper intrusion
at greater depth. The 2020 drilling determined that the vein system and breccias at Mine
Hill were cut off at shallow depth by a detachment fault. The follow-up IP survey identified
a large chargeability anomaly positioned 800 meters to the west of Mine Hill. Testing the
near-surface parts of this IP anomaly is a key component of our strategy for 2021.
Figure 2: 2020 and 2021 drilling locations and mineralized corridors
Drill Program Update
Drill holes DDH-CC-21-02, 03, and 06 intercepted a corridor of moderately to strongly
altered andesitic volcanics and tuffaceous rocks, dominantly clay- and/or quartz-sericite-
pyrite (QSP) alteration. Quartz-latite porphyry dikes also crosscut the volcanic rocks.
Thick sections host disseminated sulfides in intervals up to 300 metres in total width.
Hydrothermal alteration is seen to increase in intensity with depth. In total, this corridor
of alteration, veining, and brecciation extends for over 800m in a north-south direction
and is up to 300m wide.
These holes also encountered intervals of fracture veinlets and narrow veins of pyrite,
galena, sphalerite, chalcopyrite, and dark grey sulfosalts that crosscut the volcanic rocks
and the porphyry dikes. DDH-CC-21-03 passed through a more significant vein, possibly
the St. Louis Vein at 63 metres depth, which consists of subequal amounts of pyrite and
sulfosalts (See Figure 3). Deeper parts of the vein systems appear to be zoned towards
silver-copper rather than lead-zinc minerals. While assays are pending, semi-quantitative
analysis by field-portable X-ray fluorescence (XRF) indicated that the veins are enriched
in silver, lead, zinc, and copper.
Figure 3: 2021 Drilling DDH-21-03 showing a vein with pyrite and sulfosalt minerals
Drilling has confirmed that alteration and veining do continue into the rocks that underly
the caldera and volcanic rocks. Several narrow (but significant) veins composed entirely
of sulfide and sulfosalt mineralization were also intersected in the hornfelsed “basement”
siliciclastic sedimentary rocks. Hornfels alteration is formed by contact metamorphism
from higher temperature rocks, which could indicate the presence of more porphyritic
rocks at depth. The sedimentary basement rocks in this area are known as the
Mississippian McGowan Creek Formation.
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.
* 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) 567- 9087
Email: [email protected]
THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY
ANY SECURITIES IN ANY JURISDICTION, NOR SHALL THERE BE ANY OFFER, SALE, OR SOLICITATION OF
SECURITIES IN ANY STATE IN THE UNITED STATES IN WHICH SUCH OFFER, SALE, OR SOLICITATION WOULD BE
UNLAWFUL.
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 in clude 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, includi ng suggested strike
extension. 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.