Idaho Champion Gold Mobilizes Second Drill Rig to Champagne Project and Provides Update on Drill Programs
Idaho Champion Gold Mobilizes Second Drill Rig
to Champagne Project and Provides Update on
Drill Programs
Drilling to date amounts to approximately 29% of the 8,000 metres of drilling
planned for this season at two fully funded gold projects
• 6 holes totaling 1,286 metres have been completed at Baner;
approximately 43% of the program
• 6 holes totaling 1,045 metres have been completed at Champagne;
approximately 21% of the program
• Second drill rig mobilized for core drilling at Champagne
Toronto, ON – September 30, 2020 - Idaho Champion Gold Mines Canada Inc. (CSE:
ITKO) (OTCQB: GLDRF) (FSE: 1QB1)(“Champion” or the "Company"), announces an
update regarding its 2020 exploration program on both the Baner Gold and past-
producing Champagne Gold Projects in Idaho, USA.
Champagne Gold Project
Champion announces that it has completed six (6) holes totaling 1,045 metres at the
past-producing Champagne Gold Project. The completion of hole 6 represents
approximately 21% of the total drilling program.
In order to increase efficiencies and data for the maiden drilling program, the Company
also announces that it has mobilized a diamond core rig to site to complete the 5,000
metre program (See press release dated: August 19, 2020).
“Drilling targets at Champagne have been identified using historic and newly
acquired data which have been previously released,” stated Jonathan Buick,
President and CEO. “Ongoing district-wide geologic mapping and review of
completed reverse-circulation drill holes have led to recently initiating core drilling to
expedite testing and understanding the vuggy silica feeder zones beneath the near-
surface cap of gold-silver mineralization mined in the past via several open pits.
Precious-metal bearing solutions ascended along steep structural conduits which
comprise the principal target objective of the core drilling.”
Baner Gold Project
The Company reports that the drilling program is 43% complete with six (6) holes totaling
1,286 metres being sent to the assay lab. Champion is pleased with the pace of the Baner
program since mobilizing the drill rig (See press release dated: September 24, 2020).
President and CEO Jonathan Buick stated further, “Drilling at Baner North is progressing
well with the commencement of seventh core hole in the Orogrande Shear Zone. Our
geologists tell us that shear zone pyritic mineralization has been encountered.” The 2020
Baner North drill program is a continuation of the 2018 gold discovery drill program on
the Baner Gold zone.
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 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.
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
comprised of a series of grabens 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 in the central Idaho Gold Belt, 8 km south of Elk City, Idaho. Elk City
is an historic gold mining region dating back to the 1860’s and once supported more than
20 underground mines and extensive placer operations. During the 1930’s there were
three cyanide gold mills along Crooked River, which processed open pit and underground
sulfide ore. Exploration in the district during the 1980’s and 1990’s was primarily focused
on near-surface bulk-tonnage gold potential and included companies such as Cypress-
Amax, Kinross Gold, and Bema Gold. Premium Exploration conducted extensive airborne
and surface geophysics, soil geochemistry, and drilling around 2010. Currently, in April
2020, Endomines AB, a Nordic gold producer, began mining operations at the Friday
Project at Orogrande, which is Idaho’s newest producing gold asset.
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” and
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]
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 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.