Idaho Champion Gold Drilling at Baner Project Intercepts 4.50 Metres of 1.75 g/t Oxide Gold
Idaho Champion Gold Drilling at Baner Project
Intercepts 4.50 Metres of 1.75 g/t Oxide Gold
Toronto, ON – March 16, 2021 - Idaho Champion Gold Mines Canada Inc. (CSE: ITKO;
OTCQB: GLDRF; FSE: 1QB1)(“Idaho Champion” or the "Company") is pleased to
announce the next round of assay results from the 2020 diamond core drilling program
at its 100% controlled Baner Gold Project (“Baner”) in the producing Elk City Mining
District of Idaho.
Drilling Highlights:
• Intercepts continue to include shallow oxide-hosted gold and higher-grade
quartz-sulfide vein-hosted gold mineralization at depth
• ICGB2020-3 intersected 1.06 g/t gold (“Au”) over 7.19 metres from 128.45 metres
down hole, including 4.72 g/t Au over 1.00 metre at the top of the interval
• ICGB2020-5 intersected 1.75 g/t Au over 4.50 metres from 13.43 m in oxidized
rock, including 6.41 g/t Au over 1.00 metre from 13.43 m
• ICGB2020-3 and ICGB2020-5 are 250m and 50m northerly step-outs from
mineralized intercepts previously reported in hole ICGB2020-2, strengthening the
interpretation of a separate trend which is parallel to that identified in 2018
“Our Baner drilling continues to see strong gold grades in oxides near surface. We are
also now seeing good grades appearing in sufides as we continue to extend our Baner
Discovery towards the north“, commented President and CEO, Jonathan Buick.
“Complementing the 2018 discovery, the 2020 drill program shows our mineralized zones
are still open to the north and at depth, providing targets for further drilling in our next
drill season.”
Baner Drilling Technical Summary
The 2020 drill program consisted of eleven (11) diamond drill holes totaling 2,190 metres
(Figure 1). Seven core holes (ICGB2020-1 to 6, and 11) were placed centrally in the
company’s claim block, targeting the northern extension of the mineralization discovered
in Idaho Champion’s 2018 drill program (see press releases dated November 30, 2018).
Core holes ICGB2020-7 and 8 were collared in the western area of the claim block,
targeting strongly anomalous gold values in surface grab samples. Core holes ICGB2020-
9 and 10 are within the northeast corner of the claim block, targeting the historical
producing BL Mine.
Drill hole ICGB2020-3 was collared 275m north-northeast of hole ICGB2020-2 (Figure 1).
The drill collar is located downhill from holes ICGB2020-4 and ICGB2020-5, next to an
exposed adit of the historical producing Lucky Strike Mine. ICGB2020-3 was drilled along
Table 1: Summary of Significant Assay Results from 2020 Diamond Drill Hole Program Holes 3 and 7
Drill Hole Style From (m) To(m) Length (m)1 Au (g/t)
ICGB2020-3
Oxide and
Sulfide 128.45 135.64 7.19 1.06
Including
Oxide and
Sulfide 128.45 129.45 1.00 4.72
ICGB2020-4 NSV2
ICGB2020-5
Oxide 13.43 17.43 4.00 1.75
Including
Oxide 13.43 14.43 1.00 6.41
Oxide 79.43 87.43 8.00 0.47
Sulfide 123.30 134.30 11.00 0.58
Including
Sulfide 127.30 131.30 4.00 1.12
ICGB2020-6 NSV
ICGB2020-7 NSV 1Reported intervals are down-hole lengths and not true thickness. True thickness is estimated to be 75-
90% of reported down-hole length. No gold assays are cut and intervals are calculated using a 0.1 g/t Au
cutoff and a maximum of 1 metres allowable waste and a minimum 5 gram-meters gold. 2Hole ICGB2020-4 was abandoned after drilling 9.14m due to unsafe ground conditions which developed
at the drill pad. The drill rig was relocated 10m along the planned azimuth and drilling was restarted as hole
ICGB2020-5.
an azimuth of 270° with a plunge of -45° to a depth of 249.02m. ICGB2020-3 intersected
significant mineralization at >0.1 g/t but below a 5 gram-metre threshold (Figure 2). These
lower grade intervals include 6.68m of 0.25 g/t Au in oxide mineralization from surface,
as well as 3.04m of 1.10 g/t Au in quartz-sulfide veins from 86.20m, 4.93m of 0.43 g/t Au
in oxidized rock from 100.25m, and 7.18m of 0.28 g/t Au in oxide from 115.08m.
Drill hole ICGB2020-4 was abandoned after drilling 9.14m due to unsafe ground
conditions which developed at the drill pad. The drill rig was relocated 10m along the
planned azimuth and drilling was restarted as hole ICGB2020-5.
Drill hole ICGB2020-5 was drilled 150m to the northeast of hole ICGB2020-2 (Figure 1).
ICGB2020-5 was drilled at an azimuth of 275° with a plunge of -60°. This hole
encountered significant lengths of low-grade Au in the oxide zone, which extends to a
depth of 115m (Figure 3). These intercepts include 15.2m of 0.14 g/t Au from 51.43m,
and 23.87m of 0.14 g/t from 99.43m, which is contiguous with the higher-grade interval
from 123.30-134.30m reported in Table 1. Hole ICGB2020-5 also intersected a zone of
highly fractured sheeted quartz-sulfide veining which includes the reported interval from
127.30-131.30.
Drill hole ICGB2020-6 was drilled 275m to the North of ICGB2020-3 (Figure 1). It was
drilled at an azimuth of 090° with a plunge of -60° to a depth of 333.15m, the deepest
hole of the 2020 campaign. No significant shallow oxide mineralization was intersected.
However, a 0.30m true thickness quartz-pyrite-galena vein was intersected at a depth of
294.2m which assayed 1.59 g/t Au.
Drill hole ICGB2020-7 was drilled near the western boundary of the Orogrande Shear
Zone (Figure 1). It was drilled at an azimuth of 270° with a plunge of -45°. ICGB2020-7
encountered extensively sheared and fractured Belt Supergroup metamorphosed
sedimentary rocks and quartz monzonite dikes, suggesting the hole intersected the major
shear structure. This hole returned no significant gold mineralization.
Figure 1. Locations of 2020 diamond drill holes (blue lines) in the context of the Orogrande Shear Zone and
2018 drilling (black lines). Yellow text annotations indicate the locations of the drill holes reported in this
news release.
Mineralization at Baner is found to occur in two styles: shallow oxide mineralization and
deeper quartz-sulfide veins and stringers (see Figures 2 and 3). Shallow oxide
mineralization is dominantly hosted within strongly fractured and brecciated quartzite
occurring as an oxide overprint on pre-existing quartz-sulfide vein mineralization. Deeper
Figure 2. Interpretive geological cross section showing Au intercepts from drillhole ICGB2020-3, plotted on
interpreted geology. Gold was intersected in both oxide zones, and at the oxide-sulfide transition. The size
of red disks corresponds to Au grade. Rock chip samples were collected from drill road cuts, and from
outcrop exposed while constructing the drill pad.
Figure 3. Interpretive geological cross section showing Au intercepts from drillhole ICGB2020-5, plotted on
interpreted geology. Gold was intersected in oxide zones and quartz-sulfide veins. The size of red, orange,
and green disks are logarithmically scaled to correspond to Au grade. Rock chip samples were collected
from drill road cuts and from bedrock exposed during construction of access road and drill pad.
quartz-sulfide vein mineralization is localized by brittle structures, which are commonly
found at the contact between metamorphosed sedimentary rocks of the Belt Supergroup
with quartz monzonite igneous dikes. The oxide-sulfide transition is usually associated
with highly fractured rock, with a basal layer of rock fragments cemented by iron oxide
stained clay.
Multi-element analyses of drill core indicate that arsenic, mercury, and antimony are good
geochemical indicators of gold mineralization. Enrichment of lead, zinc, and weak copper
is also associated with elevated gold content.
QA/QC Program
Idaho Champion Gold adheres to a regimented drill core handling and processing
procedure. Core from the drill rig(s) is logged for lithology, mineralization, structure,
alteration, and veining. During the logging process samples up to 1.5m core length are
delineated by company geologists. Core is then photographed and sawn in half.
Following sawing, individual samples are extracted from core boxes and inserted into
individual sacks with a unique waterproof sample number tag and sealed. The remaining
half-core is left in core boxes for storage. Sacks containing samples are kept securely
indoors on site until they are transported to the assay lab.
Quality control (QC) samples are inserted into the sample stream such that there is one
QC sample for every ten drill core samples. These QC samples consist of certified
standards (known metallic content) and blanks (known barren of metals). Two styles of
blank material were used: a coarse blank and a pulverized blank. QC sample insertions
alternate between standard and blank. Additional core duplicates were inserted into the
sample stream where necessitated by geology, i.e. core samples containing wide veins
were sawn in half, then one half sawn into quarters and submitted as two separate
samples.
Samples were delivered to American Assay Labs (AAL) in Sparks, NV, with a small
number of samples being analyzed at American Analytical Services (AAS) in Osburn,
Idaho. Sample prep was conducted at AAS. AAL and AAS conform to ISO 17025
requirements. All drill samples and coarse blanks are crushed to 70% passing 2mm at
the sample prep lab, and 1 kg material is split and pulverized to 85% passing 75 microns.
All samples are processed by 30-gram fire assay- inductively coupled plasma – emission
spectrometry (ICP-ES). Samples are additionally analyzed for 36 or 47 element analysis
by ICP-ES and/or inductively coupled plasma – mass spectrometry (ICP-MS). Samples
containing Au or Ag above maximum reporting limits by ICP-ES analysis are automatically
re-analyzed by fire assay with a gravimetric finish.
All drill intervals included in Table 1 in this release are calculated using a 0.10 g/t gold
cut-off grade and a maximum of 1-metre consecutive waste and a minimum 5 gram-
metres of gold.
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 the Baner Project
The Baner Project is located within the Orogrande Shear Zone (OSZ), a 20-kilometre long
and up to 1-kilometre wide regional shear zone located in Central Idaho. The OSZ is a
transpressional shear zone composed of metamorphosed Proterozoic sedimentary rocks
of the Belt Supergroup and granitic rocks of the Cretaceous Idaho Batholith, which is
intruded by Tertiary rhyolites and dacitic dikes. Hydrothermal alteration is spatially
associated with the OSZ consisting of: silicification, sericitization, and chloritization.
Different types of mineral systems occur in the OSZ and along sympathetic structures in
the area, most likely of Cretaceous or Tertiary ages. Mineralization may include
disseminated bulk-mineable precious metal mineralization associated with sheeted or
stockwork veins, hydraulic breccias and with extensive widespread alteration; but high-
grade gold also occurs within discreet structurally controlled quartz veins and silicified
zones.
The Baner Project is located 8 kilometers southwest of Elk City, Idaho, in the heart of the
historical Orogrande-Elk City Mining District. Elk City is an historic gold mining region
dating back to the 1860s that once supported more than 20 underground mines and
extensive placer operations. During the 1930s there were three cyanide mills along the
Crooked River processing open pit and underground sulfide ore. Exploration in the
district was conducted by Cyprus Amax, Kinross Gold, and Bema during the 1980s and
1990s. Premium Exploration conducted extensive soil sampling, airborne and surface
geophysics, and drilling during the period around 2010. In 2020, Endomines AB brought
the Friday Gold Project into production based on a reported measured plus indicated
resource of 462,000 tonnes grading 6.54 g/t gold and mined 6,600 tonnes of ore with a
3.52 g/t head grade (Endomines AB Annual Reports for 2019, 2020). The Friday Gold
Project is located within the OSZ approximately 8 kilometres south of the Baner Project.
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” and
on the OTCQB under the trading symbol “GLDRF”. 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]
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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.
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the adequacy or accuracy of this press release This press release may include forward-looking information within the
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