Idaho Champion Mobilizes Drill at Past Producing Champagne Project
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Idaho Champion Mobilizes Drill at
Past Producing Champagne Project
Toronto, ON – August 19, 2020 - Idaho Champion Gold Mines Canada Inc. (CSE: ITKO)
(OTC: GLDRF)(“Idaho Champion” or the "Company"), announces that a drill has been
mobilized for the Company’s maiden drill program at the past producing Champagne Gold
Project near Arco, Idaho, USA.
Idaho Champion will commence a 5,000 metre drill program using Reverse Circulation (RC)
drilling on patented ground and within the historic past producing pit area utilizing both
historic and newly acquired data to target drill holes.
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 in the Lava Creek District. Company geologists have confirmed that
sericitic and argillic alteration, with and without silicifcation, are widespread at the
Champagne Project. According to historic reports, silica flooding, alunite and barite are
closely associated with the gold and silver mineralized zone at the historic mine.
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 is not
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 prospectivity 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”. 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. Althou gh 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.