Business
Champion Bear announces preliminary assay results from its drilling program at its Sudbury area Iron Mask property
Champion Bear announces preliminary assay results from its drilling program at its Sudbury area Iron Mask property.
About this update from Champion Bear Resources Ltd.
[{"type":"text","content":"\n\n\n\n(TSX Venture: CBA)\n\n\nCALGARY, May 17 /CNW/ - Champion Bear Resources Ltd. ("Champion Bear") is\npleased to announce preliminary assay results from recently completed drilling\nat its Sudbury area Iron Mask property.\n\n\nA polymetallic Olympic Dam style model is the exploration target on which\nthe drilling is focused. An extensive mineralized target area has been\nindicated by previous gravity and induced polarization surveys (see Champion\nBear's news release dated August 21, 2004).\n\n\nThree holes have been completed, for a total depth of 816 metres (see\nChampion Bear's news release dated May 1, 2007). Preliminary assays from hole\nIM-07-08 averaged 1,442 ppm Cu (0.14% Cu) for a core length of 14.6 metres\nfrom 105.0 to 119.6 metres (see samples 2257 to 2273 in Table 1). This\nintersection is 30 metres down dip from previous hole IM-05-05 which\nintersected 7.2 metres, from 99.5 to 106.7 metres, which averaged 1,275 ppm\ncopper (0.13% Cu) (see Champion Bear's news release dated August 9, 2005).\n\n\nThese results indicate that the focused drilling program has begun to\ndefine the most prospective target area. Future drilling will continue tracing\nthe mineralization down dip and along the 650 metre strike length of untested\nIP anomaly between the current drill targets.\n\n\nPartial assay results from the other two holes drilled 650 metres along\nstrike to the northwest also encountered encouraging results. A 0.8 metre\nsection from 94.2 to 95.0 metres (see Table 1) in drill hole No. IM-07-09\nreturned 5,695 ppm copper (0.57% Cu) from the same unit. Hole No. IM-07-10,\nwhich was drilled to test the same unit approximately 30 metres below,\nreturned 6,890 ppm Cu (0.69% Cu) over 0.7 metres from 120.7 to 121.4 metres\n(see Table 1). While the true width of these intersections has not been\ndetermined accurately it is estimated to be approximately 85 to 90% of the\nreported core length.\n\n\nChampion Bear is encouraged by the promising preliminary assay results.\nThe remaining assay results as well as the ore grade check assays are still\npending and will be announced upon receipt.\n\n\nCore samples were split by hydraulic splitter and sealed in plastic\nsample bags for shipping and all samples were hand delivered to the SGS\npreparation facility in Sudbury. Once prepared, samples were forwarded\ndirectly t...