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Champion Bear Resources Reports Initial Resource Estimate for Plomp Farm Gold Deposit
CALGARY, Alberta, Nov. 21, 2017 (GLOBE NEWSWIRE) -- CHAMPION BEAR RESOURCES LTD (TSV:CBA) (“Champion Bear” or the “Company”) is pleased to announce an initial M
About this update from Champion Bear Resources Ltd.
[{"type":"text","content":"CALGARY, Alberta, Nov. 21, 2017 (GLOBE NEWSWIRE) -- CHAMPION BEAR RESOURCES LTD (TSV:CBA) (“Champion Bear” or the “Company”) is pleased to announce an initial Mineral Resource Estimate for the Plomp Farm deposit located approximately 14 kilometers west of Dryden, Ontario, Canada, in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) Definition Standards incorporated by reference in National Instrument 43-101. This initial Mineral Resource Estimate is based solely on historical drilling results from 128 drill holes (51,000 meters) operated by Champion Bear from 1994 to 2005. The Total Inferred Mineral Resource Estimate of 5.7 million tonnes grading 0.58 grams of gold per tonne for 107,100 ounces of gold and 0.21 grams of silver per tonne for 38,400 ounces of silver. The estimate is derived from the historical drilling configuration and sampling style that did not specifically target the gold bearing quartz-sericite schist zone resulting in unsplit and unsampled drill core within the main resource of 68% of the 51,000 meters of drilling. Data gaps exist as a result, with significant potential for expansion within the main resource boundaries. The Plomp Farm deposit is open to the west and east along strike as well as depth and has significant potential for expansion. Richard Kantor, Chairman and President for Champion Bear, stated, \"The Plomp Farm initial Mineral Resource Estimate is the result of significant effort to combine years of historical drilling results into a modern data set interpreted with the hindsight of Ontario analogies in sheared quartz-sericite schist deposits advanced over the last 3 decades. Historical exploration efforts created significant gaps in the data within the main resource and we intend to solve these legacy issues going forward. We believe that there remains significant potential to expand the current resource base both along strike and at depth and this will be an objective of future advanced exploration programs. I extend my appreciation to the team of dedicated professionals who have worked very hard to achieve this initial result.” The initial Mineral Resource Estimate for the Plomp Farm deposit incorporates assay results from 128 diamond drill holes totaling 51,000 meters of historical drilling. The estimate was prepared using a block model constraine...