(TSX Venture: CBA)
CALGARY, June 1 /CNW/ - Champion Bear Resources Ltd. ("Champion Bear" or
the "Company") announced today that it has completed drilling nine additional
test holes totalling approximately 2,790 metres and re-logging and re-sampling
35 previously drilled holes totalling approximately 13,756 metres. The Company
continues to be encouraged by the results of its ongoing exploration program.
The recently defined mineral zonation and alteration patterns are consistent
with the Company's model of a westward plunge to the zonation and anomalous
gold mineralization. The drilling and re-logging program, along with the
detailed property wide magnetic and IP surveys currently being completed and
the mapping program planned for this summer will complete the property
assessment program undertaken by Champion Bear over the past two years.
The analytical results from the nine new drill holes (along the
1,200 metre strike length tested) confirm the extensive base metal and barite
geochemical alteration envelope and anomalous gold mineralization. The better
anomalous intersections ranged from 1.04 to 2.46 g Au/t over core lengths from
1 to 3 metres. These are contained within a broader halo of anomalous gold in
the range of 150 to 560 ppb (0.1 to 0.6 g Au/t) over core lengths ranging from
2 to 19 metres. This mineralization is consistent with the halos of anomalous
gold present around narrow 0.4 to 3 metre wide lenses grading in the range of
1 to 92 g Au/t reported previously. The significant assay results from the
nine new holes and the results of additional sampling from the 35 old holes is
presented in the following tables. Previous sampling did not test for all of
the geochemical indicators.
Drill holes No. 110 and 111 tested the eastern limit of the anomalous
gold mineralization and alteration halo. Hole No. 112 tested for the up dip
limit of mineralization. Hole No. 113 planned to test the down dip extension
of the zone did not traverse the entire zone due to equipment limitations.
Holes No. 115 and 116 tested the area between two adjacent lenses. Holes
No. 116, 117 and 118 tested the western limit of mineralization and
alteration, the last two holes tracing the zones onto the adjacent property
optioned from Teck Cominco Limited.
The results of the property assessment to date confirm that the main zone
of gold mineralization and alteration are associated with major sub-vertical
shear structures. The anomalous gold mineralization and its associated
(multi-element) geochemical alteration, characterized by its extensive silver,
barite and copper halo, appear to plunge to the southwest. Silver values, and
the silver/gold ratios appear to exhibit a zonal distribution with the higher
gold values and increasing towards the outer flanks of the barite halo.
Potassium enrichment also appears to increase to the west and down dip.
Drilling, which has been at an average spacing of 50 to 100 metres, is
still much too widely spaced to define the extent of the higher grade zones
(of up to 92.0 g Au/t over 0.4 metres of core length) previously encountered.
The attached figure (to view figure, please visit
http://files.newswire.ca/363/plompfarmproperty.pdf) which shows the north
facing Plomp Farm Property Longitudinal Section summarizes the previous
significant intersections and shows the westward plunge of the mineralization.
Furthermore, the absence of down-hole directional surveying for most of the
older holes makes tracing these zones difficult without first resurveying the
holes. Mineralization remains open to depth and to the west.
Champion Bear is planning to commence a two pronged exploration program
this summer. The first phase will include geological and structural surface
mapping and sampling of the entire property, and detailed testing of the newly
identified mineralized showings. The second phase will consist of an extensive
8,000 plus metre diamond drilling program to test the gold mineralization down
plunge and to the southwest at vertical depths of 400 to 900 metres. The field
mapping is scheduled to commence in late June and the diamond drilling is
expected to commence in the third quarter so as to benefit from the results of
the current and planned surveys.
<<
TABLE 1
OLD HOLES RESAMPLED
-------------------------------------------------------------------------
Core
Footage Length Au Ag Cu Zn Pb Mo Ba
Hole No. (m) (m) ppb (g/t) g/t ppm ppm ppm ppm ppm
-------------------------------------------------------------------------
PF10
(old) 67 - 67.5 0.5 1324 (1.32) 14.8 180 385 43 8 NC
(new) 67 - 67.5 0.5 less than 2 23.7 172 262 68 6 320
PF11
(old) 106 - 106.5 0.5 1867 (1.87) 16.7 344 834 19 16 NC
(new) 106 - 106.5 0.5 1415 (1.42) 16.1 301 643 12 7 1 700
PF13
(old) 112 - 112.5 0.5 1634 (1.63) 22.3 3662 1122 9 52 NC
(new) 112 - 112.5 0.5 1410 (1.41) 25.0 3710 820 6 47 27
(old) 115 - 117.5 2.5 1680 (1.68) 21.0 143 762 144 10 NC
(new) 115 - 117.5 2.5 1876 (1.88) 33.9 148 926 101 9 140
PF21
(old) 110.6 - 111.1 0.5 1522 (1.52) 21.0 1598 329 10 13 NC
(new) 110.6 - 111.1 0.5 1905 (1.91) 19.4 1870 606 9 19 120
(old) 112.1 - 112.6 0.5 1230 (1.23) 12.2 1665 71 9 18 NC
(new) 112.1 - 112.6 0.5 1560 (1.56) 14.5 2170 122 8 21 102
(old) 113.1 - 113.6 0.5 1405 (1.41) 25.4 1204 1166 16 60 NC
(new) 113.1 - 113.6 0.5 1215 (1.22) 22.6 1090 1620 15 54 101
(old) 119.7 - 120.6 0.9 2124 (2.12) 10.8 218 934 151 13 NC
(new) 119.7 - 120.6 0.9 2221 (2.22) 36.7 179 138 29 12 200
(old) 121.6 - 122.1 0.5 1455 (1.46) 28.2 168 395 71 3 NC
less
than
(new) 121.6 - 122.1 0.5 1470 (1.47) 28.3 108 583 53 1 79
PF22
(old) 145.2 - 146.6 1.4 1333 (1.33) 21.9 1643 188 6.5 101 NC
(new) 145.2 - 146.6 1.4 1458 (1.46) 21.4 1875 168 6 68 46
(old)150.95 - 151.8 0.85 1067 (1.07) 8.2 1048 175 6 7 NC
(new)150.95 - 151.8 0.85 1485 (1.49) 7.5 1310 123 7 7 109
greater
than
(old) 159.2 - 159.7 0.5 8002 (8.00) 50 856 5200 1008 9 NC
(new) 159.2 - 159.7 0.5 1255 (1.26) 11.7 158 324 83 4 74
PF26
(old) 334.2 - 337.9 3.7 3108 (3.11) 27.9 200 1340 172 20 NC
(new) 334.2 - 337.9 3.7 3138 (3.14) 39.3 211 1804 155 15 92
PF70
(old) 342 - 343 1 2205 (2.21) 30.1 286 39 22 11 NC
(new) 342 - 343 1 2090 (2.09) 36.0 119 25 28 10 117
(old) 344 - 345 1 3949 (3.95) 26.9 172 311 18 5 NC
(new) 344 - 345 1 7920 (7.92) 84.9 322 583 23 3 98
PF28
(old) 181.8 - 183.3 1.5 2239 (2.24) 6.8 2340 926 15 8 NC
(new) 181.8 - 183.3 1.5 2218 (2.22) 6.2 1083 1286 9 4 16
PF25
(old) 138.3 - 139.3 1 2533 (2.53) 20.3 261 635 80 7 NC
(new) 138.3 - 139.3 1 2754 (2.75) 18.3 220 786 65 4 59
(old) 141.3 - 142.3 1 1436 (1.44) 20.4 1757 961 42 65 NC
(new) 141.3 - 142.3 1 1518 (1.52) 16.3 1770 244 17 71 110
(old) 142.8 - 143.3 0.5 1187 (1.19) 19.7 711 170 109 60 NC
(new) 142.8 - 143.3 0.5 1460 (1.46) 19.8 807 213 94 39 146
PF72
(old) 407 - 409.5 2.5 4592 (4.59) 15.5 203 1160 165 NC NC
(new) 407 - 409.5 2.5 5538 (5.54) 20.3 250 1257 207 21 215
PF32
(old) 266.5 - 267.5 1 1099 (1.10) 6.7 1184 84 16 29 NC
(new) 266.5 - 267.5 1 1373 (1.37) 7.8 1278 63 17 21 49
PF33
(old) 283 - 283.5 0.5 880 (0.88) 5.5 77 64 7 NC NC
less
than
(new) 283 - 283.5 0.5 863 (0.86) 8.1 116 62 8 1 64
(old) 285 - 288 3 1948 (1.95) 7.3 566 457 28 NC NC
(new) 285 - 288 3 2216 (2.22) 7.9 663 320 26 17 72
PF35
(old) 302 - 304.5 2.5 2328 (2.33) 9.3 174 377 75 4 NC
(new) 302 - 304.5 2.5 2270 (2.27) 9.5 206 522 70 0 92
-------------------------------------------------------------------------
Note: NC denotes not tested.
TABLE 2
NEW SAMPLING
-------------------------------------------------------------------------
Core
Footage Length Au Ag Cu Zn Pb Mo Ba
Hole No. (m) (m) ppb (g/t) g/t ppm ppm ppm ppm ppm
-------------------------------------------------------------------------
less
than
PF66 15 - 16.2 1.2 1702 (1.70) 0.7 14 29 14 2 520
less
than
PF23 84 - 85 1 1260 (1.26) 14.1 41 34 12 1 114
PF35 92 - 92.5 0.5 1875 (1.88) 6.5 178 232 16 2 89
-------------------------------------------------------------------------
Note: less than or greater than denotes an assay value which exceeded
the detection limit of the method used
TABLE 3
NEW HOLES
-------------------------------------------------------------------------
Core
Footage Length Au Ag Cu Zn Pb Mo Ba
Hole No. (m) (m) ppb (g/t) g/t ppm ppm ppm ppm ppm
-------------------------------------------------------------------------
PF05-110
Zone 190 - 197 7 305.6 (0.31) 8.3 170 295 10 10 1287
PF05-111
Zone 202 - 221 19 562.6 (0.56) 7.5 188 159 14 9 92
Best Au
value 211 - 214 3.0 2463.3 (2.46) 23.2 123 432 61 7 112
PF05-112
Zone 223 - 241 18 172.5 (0.17) 5.1 252 223 18 10 124
PF05-113
Zone 529 - 535 6 148.3 (0.15) 1.1 165 53 1 6 65
Other 21 - 21.5 0.5 1810 (1.81) 8.5 44 84 23 8 180
PF05-114
Zone 386 - 402 16 310.1 (0.31) 8.0 542 187 18 7 767
less
Best Au than
value 389 - 390 1 1035 (1.04) 5.6 144 74 11 2 528
PF05-115
Zone 399 - 403 4 347.3 (0.35) 3.4 857 76 8 2 15
less
than
Zone 416 - 430 14 182.6 (0.18) 2.7 29 226 8 1 113
Zone 449 - 461 12 189.4 (0.19) 3.1 125 284 26 11 70
PF05-116
Zone 33 - 36 3 336.3 (0.34) 5.4 342 614 12 1 13
Zone 45 - 61 16 358.3 (0.36) 5.0 324 127 22 5 33
Best Au
value 49 - 50 1 1240 (1.24) 11.6 677 105 14 5 9
PF05-117
Zone 94 - 98 4 184 (0.18) 2.9 279 390 9 1 13
Zone 107 - 110 3 223 (0.22) 8.9 277 624 87 2 25
PF05-118
Zone 124 - 126 2 485.5 (0.49) 5.0 1092 3515 43 10 41
Zone 220 - 222 2 520.5 (0.52) 23.9 62 738 41 6 26
-------------------------------------------------------------------------
Note: less than or greater than denotes assay values which exceeded the
detection limit of the method used.
All assays exceeding the detection limit were treated with a value
of zero for compositing purposes
The exploration field work was carried out by Watts, Griffis and McOuat
Limited, under the direction of QP Joe Hinzer, P. Geo. who is also the
qualified person responsible for the preparation of this news release. Drill
core samples from new holes were obtained by cutting core in half by sawing.
Samples from old holes were quarter split also by cutting. One half of the
drill core has been retained and is stored on site in racks. Samples splits
were sealed in plastic sample bags and shipped by bus directly to Activation
Laboratories Ltd. in Ancaster, Ontario, an ISO accredited laboratory. Most of
the analyses were run using ICP-MS techniques on aqua regia digested samples,
all samples in excess of 1,000 ppb Au were retested using fire assay
techniques with a gravimetric finish.
Champion Bear is a mineral exploration company focused exclusively on the
historically prospective regions of Ontario. The Company's primary targets are
platinum group and precious metals and to a lesser extent polymetallic base
metal and pegmatite-hosted tantalum deposits. Champion Bear's aim is to create
shareholder value through selective property acquisition and joint venture
followed by focused exploration emphasizing drilling. The Company has
assembled a large land position in the Dryden and Sudbury areas, totalling
over 16,000 hectares.
Forward-looking statements - statements included in this news release
that are not historical facts may be considered "forward-looking statements".
All estimates and statements that describe the Company's objectives, goals or
future plans are forward-looking statements. Forward-looking statements
involve inherent risks and uncertainties where actual results could differ
materially from those currently anticipated.
The TSX Venture Exchange has not reviewed and does not
accept responsibility for the adequacy or accuracy of this release.
>>
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