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Idaho Champion Announces Acquisition of Key Patented Lode Mining Claims and Patented Mill Site at Past Producing Champagne Project
TORONTO, ON / ACCESSWIRE / April 30, 2020 / Idaho Champion Gold Mines Canada Inc. (CSE: ITKO) ("Champion" or the "Company"), a discovery-focused gold exploratio
About this update from Champion Electric Metals Inc.
[{"type":"text","content":" TORONTO, ON / ACCESSWIRE / April 30, 2020 / Idaho Champion Gold Mines Canada Inc. (CSE: ITKO) (\"Champion\" or the \"Company\"), a discovery-focused gold exploration company, is pleased to announce that it has acquired key patented claims (private property) that are located within the Company's past-producing Champagne Project in Idaho, USA. The key patented properties include five (5) patent lode mining claims and one (1) patent mill site (see Figure 1) which are located inside the project area controlled by Champion. The patent lode mining claims include the open pit with a historic Non 43-101 compliant resource of 2.8MT at 1.2g/t Au equivalent (See Mine Development Associates report dated September 1989). that was mined using an open pit heap leach method by Bema Gold in the early 1990's. One of the key aspects of the patent ground is the historic data associated with the project. Champion has tendered a proposed drill program to several drilling companies for bid. Figure 1: Patented claims location \"The historical Champagne data the Company recently purchased from Kinross, has a tremendous amount of information that our geologic team continue to unpack, with a focus on the open pit area. The patented claims host the open pit and we believe this will be the centerpiece for our exploration thesis,\" President and CEO Jonathan Buick stated. \"Patented ground in the state of Idaho allows us to begin our exploration program right away with no requirement for permitting. We will announce our plans for exploration at Champagne upon the completion of the desktop study of the historical data.\" Under the terms of the agreement, Idaho Champion has purchased the six (6) patented claims from a private family trust for US$150,000. Figure 2: Champagne Project Location Map About 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 in addition to previous operators drilling and trenching. The property has had no deep drilling or 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 the intermediate composition at Lava Creek. Argi...