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Champion Bear receives encouraging prospecting results from its Halcyon Property located northeast of Sudbury, Ontario
Champion Bear receives encouraging prospecting results from its Halcyon Property located northeast of Sudbury, Ontario.
About this update from Champion Bear Resources Ltd.
[{"type":"text","content":"\n\n\n\n\n(TSX Venture: CBA)\n\nCALGARY, Oct. 31 /CNW/ - Champion Bear Resources Ltd. (\"Champion Bear\" or\nthe \"Company\") announced today the assay results of grab samples taken during\na prospecting program this summer on its 100% owned Halcyon Property located\nnortheast of Sudbury, Ontario. Champion Bear undertook the focused prospecting\nprogram in light of the strong base metals prices, especially nickel, to\ninvestigate the immediate area around drill hole HAL04-10, which drill hole\nintersected 2,949 ppm (0.29% Ni) over a core length of 3.6 metres (see\nChampion Bear's News Release dated October 26, 2004).\nChampion Bear has located a number of new outcrops in a previously\nflooded area located just east of the limit of the former survey grid\ncompleted on the Halcyon Property. These rocks are mainly weakly-magnetic,\ndioritic-gabbroic material, some with inclusions and/or locally brecciated.\nThey are generally massive, medium grained with quartz and carbonate veining\nand contain up to 1 to 5% disseminated sulphides including pyrite, pyrrhotite\nand chalcopyrite. The outcrops occur along either side of a northeast trending\ndepression (possible fault/shear) passing just to the west of drill hole\nHAL04-10.\nTable 1 below presents the partial assay results of the grab samples\nwhich confirm that several samples have elevated Cu and/or Ni values (Sample\nnos. 2205, 2206 and 2209) and that several others are slightly anomalous.\nSample 2205 was collected only a few hundred metres southwest of drill hole\nHAL04-10. Champion Bear is very encouraged by these results and intends to\ncomplete, during the first quarter of 2007, approximately five to six\nkilometres of detailed magnetic and IP surveying with follow-up drilling of\napproximately three to five holes totaling 750 to 1,000 metres at an estimated\ncost of approximately $150,000.\n\n\n\n>\n\n\nOne of the objectives of the original exploration program Champion Bear\ncompleted in 2004 was to locate the projected northeastern extension of the\nWhistle Offset Dyke Structure hosting the FNX Whistle deposit to the south.\nNamex Resources Inc. (\"Namex\") had also identified the structure on their Post\nCreek Property located immediately to the south of Champion Bear's Halcyon\nProperty (see Namex's Press Release dated September 28, 2004).\nJoe Hinzer, P.Geo, President of...