Idaho Champion Gold Reports Additional 2021 Drilling Results from Champagne Project
`
Idaho Champion Gold Reports Additional 2021
Drilling Results from Champagne Project
Toronto, ON – March 18, 2022 - Idaho Champion Gold Mines Canada Inc. (CSE: ITKO;
OTCQB: GLDRF; FSE: 1QB1) (“Idaho Champion” or the "Company") reports assay
results from the next five drill holes of the 2021 exporation drilling campaign at its 100%-
controlled Champagne Gold Project (“Champagne”) near the city of Arco, Butte County,
Idaho. These results for drill holes DDH-CC-21-03 through 06, and -10 include 2,269
metres out of a total of 3,430 metres drilled in the program. Results remain pending for
drill holes DDH-CC-21-07 through 09 (Figure 1).
All five of the new drill holes returned highly anomalous intervals of silver (Ag), zinc (Zn),
copper (Cu), molybdenum (Mo) and lead (Pb). Gold (Au) is usually elevated with higher
silver values, but there is only one narrow interval of gold exceeding 0.3 g/t (1.58 m at
1.26 g/t and 23.3 g/t Ag in CC-DH-21-05 at 505 m depth). As in the previously released
drill holes (DDH-CC-21-01 and -02), the drill results from Champagne continue to suggest
the presence of a large zoned polymetallic system, consistent with the potential for a
porphyry copper or molybdenum deposit at depth (See Company press release dated
November 4, 2021).
Jonathan Buick, Idaho Champion’s CEO, commented: “Champion’s 2021 drilling
strategy at Champagne was built around drilling “fences” starting on the west end of the
property and working our way east to test the geology and structure associated with the
large anomaly that we identified in 2020. The drilling results are consistent with our
interpretation that a deeper porphyry copper system underlies the Champagne district.
We can see favourable indications and potential targets on the eastern and western
portions of the caldera complex. These targets definitely warrant more drilling. We will
compile the remaining data and formulate a follow-up program with the best likelihood of
hitting the larger system we believe to be present.”
Selected Drill Hole Highlights
- DDH-CC-21-03: 0.1m at 124 g/t Ag and 2.55% Cu from 63.4 m depth
- DDH-CC-21-06: 0.4 m at 7.88% Zn and 11.68 g/t Ag with anomalous Cu, Mo, and
Pb from 329.0 m depth
- DDH-CC-21-05: ~140 m of highly anomalous Zn, Pb, Cu, Ag, and Mo from 393 m
depth
- DDH-CC-21-10: ~121 m of highly anomalous Zn, Ag
Each of the new drill holes includes narrow intercepts of quartz-sulfide-sulfosalt veining
with moderate to high Ag-Zn-Pb values. The narrow veins are often associated with
strongly anomalous Cu and Mo mineralization. As shown in Figure 2, 3, and 4, such veins
may occur in the outer halos around porphyry systems. The Champagne Project is host
to a large interpreted volcanic caldera complex containing significant volumes of altered
rock, which is also consistent with the shallow portions of a porphyry copper or
molybdenum system. The Company is most encouraged by the numerous thick sections
of anomalous Ag – Zn – Pb + Cu + Mo + As + Bi encountered by this drilling. These
broader zones of weak to moderate mineralization are sometimes punctuated by the
narrow high-grade veinlets as reported previously and again here.
Figure 1: Champagne Project Drilling Location Map
Summary of Geology and Drilling Details
The primary purpose of the 2021 drill program was to test the large IP anomaly,
coincident soil geochemistry anomalies, and the Company’s model for a structurally
disrupted porphyry – epithermal Au-Ag system for the Champagne Project. Sampling and
drilling have confirmed the presence of a large alteration system with multi -element
zonation and complex geometry controlled by a highly-faulted volcanic caldera. The first
two drill holes tested the northern portions of the IP anomaly where it was interpreted to
be shallowest (See Company news release dated November 4, 2021). These holes
encountered altered volcanic tuffs, flows, and narrow porphrytic dikes before passing
into the metasedimentary rocks of the underlying basement. Mineralization in this
northern area included two narrow high-grade Ag-Cu veins as well as longer runs of low-
grade but anomalous pathfinder elements.
These drill holes reflect the generally thicker volcanic pile of the caldera complex going
south, but major faulting is indicated by the offset volcanic units and variable depth to
basement. The rocks continue to reflect clay and pyrite alteration over a large area,
sometimes crosscut by narrow veins (0.1 – 0.4 m) and zones of anomalous trace elements
over significant widths (10 – 140 m).
DDH-CC-21-03 and -06 (IP Line 6). Both drill holes DDH-CC-21-03 and -06 were
located on IP Line 6. These holes penetrated clay-pyrite-altered volcanic and
volcaniclastic rocks to depths of 408 m and 490 m, respectively. Both holes also
intercepted a steeply west-dipping quartz monzonite porphyry dike that was strongly
Figure 2 – Interpreted Cross-Section along IP Line 6 – Looking
North-Northeast
altered. In the upper reaches of the dike, DDH-CC-21-03 intercepted a crosscutting
sulfide-sulfosalt veinlet that contained 124 g/t Ag and 2.55% Cu over 0.1m width.
Drill hole CC-21-06 also intercepted a narrow sulfide-sulfosalt veinlet with high Zn
(7.68%) and Ag (11.68 g/t ) over 0.4 m width. These holes also intercepted significant
anomalies in Mo, Pb, and Zn related to veinlets and local disseminated sulfides.
Historical desktop studies provided by a previous claim owner indicated that the Phelps
Dodge Corporation (“PD”) drilled a vertical core hole close to IP Line 6 in 1980 to a depth
of 473 m. The hole was collared approximately 100 m west of DDH-CC-21-06. The multi-
element geochemistry in the PD drill hole is consistent with the distal geochemical
response from the 2021 drilling so far (anomalous Zn, Pb, and Ag). The Company’s
updated interpretation of the area indicates that the western end of this line is upthrown
relative to the central part of the caldera compex (Figure 2).
DDH-CC-21-04 and -05 (IP Line 3). Drill holes DDH-CC-21-04 and -05 were located on
IP Line 3 and were inclined westward to test the deeper-seated IP anomaly. Both holes
drilled weakly clay-altered tuffaceous volcanic rocks and andesite flows until bottoming
in basement metasedimentary rocks. Both holes encountered elevated pyrite and trace
element geochemistry consistent with the peripheral response of a large mineralizing
system (Figure 3). Hole CC-21-04 was collared in a downdropped fault block such that
the pyrite and trace element anomalies were deeper than in hole CC-21-05.
Figure 3 – Interpreted Cross-Section along IP Line 3 – Looking North-
Northeast
There is a long interval in drill hole CC-21-05 from 393 m depth to the bottom of the hole
(~140 m) that is enriched in Zn, Pb, Cu, Ag, and Mo. The enrichment in this suite of
elements is consistent with the distal Pb-Zn-Ag halo that is common to porphyry copper
systems (Figure 4).
DDH-CC-21-10 (IP Line 4). IP Line 4 is positioned within an uplifted (horst) block located
in the middle of the St. Louis-Reliance Corridor. The drill holes penetrated strongly clay-
sericite-silica-pyrite-altered tuffaceous volcanic rocks, andesite flows and megacrystic
felsic porphyry dikes. Both DDH-CC-21-10 and -02 passed through multiple felsic
porphyry dikes that appear to be dipping to the west (See Figure 4). Each of these holes
encountered zones of anomalous Cu, Bi, and Mo, which may be associated with the felsic
dikes. Overall, the geochemistry for DDH-CC-21-01, -02, and -10 help define concentric,
anomalous, base-metal zoning patterns of Zn and Pb-Zn-Ag Zones, interpreted to be
peripheral to a porphyry Cu system at depth (Figure 5).
Figure 4 – Interpreted Cross-Section along IP Line 4 – Looking North-
Northeast
Figure 5: Sillitoe Model of Porphyry Cu-Au-Mo Deposit and Its Zonation
Quality Assurance/Quality Control Procedures
Idaho Champion Gold adheres strictly to a regimented drill core handling and processing
procedure. Core from the drill rig(s) is logged for lith ology, mineralization, structure,
alteration, and veining. During the logging process up to 2-metre samples 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 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 certified blanks (known barren of metals). QC
sample insertions alternate between standard and blank.
Sample shipments are delivered to the ALS Sample Preparation facility in Twin Falls, ID.
ALS conforms to ISO 17025 requirements. All drill samples and coarse blanks are
crushed to 70% passing 2mm at the sample prep lab, and 1 kg of material is split and
pulverized to 85% passing 75 micron. All samples are processed by 30 gram fire assay-
inductively coupled plasma optical emission spectrometry (ICP -OES). Samples are
additionally analyzed for multi-element analysis by ICP-OES and/or inductively coupled
plasma mass spectrometry (ICP-MS). Samples containing Au or Ag above detection
limits by their respective methods are automatically re-analyzed by the appropriate assay
method, including fire assay with a gravimetric finish for Au.
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]
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, inclu ding 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.