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Idaho Champion Announces Two Fully Funded 2020 Exploration Programs on Its Idaho Gold Projects
TORONTO, ON / ACCESSWIRE / August 10, 2020 / Idaho Champion Gold Mines Canada Inc. (CSE: ITKO) ("Champion" or the "Company"), announces that, commencing this mo
About this update from Champion Electric Metals Inc.
[{"type":"text","content":" TORONTO, ON / ACCESSWIRE / August 10, 2020 / Idaho Champion Gold Mines Canada Inc. (CSE: ITKO) (\"Champion\" or the \"Company\"), announces that, commencing this month, the Company will dedicate the proceeds from its recently closed $8.1 million bought deal financing (See press release dated July 30, 2020) to initiate two fully funded 2020 exploration programs at its Baner and Champagne Gold Projects located in Idaho, USA. \"The recently completed over-subscribed bought deal financing provides Champion with the capital needed to advance both of our gold properties. We have now initiated exploration programs that will allow Champion to better assess the geologic opportunities offered by its gold discovery at Baner and the brownfield Champagne Project,\" stated President and CEO Jonathan Buick. \"Both projects can be \"company makers\" and, with funding in place, we are now full speed ahead in creating shareholder value and we are positioned to capitalize on a strong gold price environment.\" Expected Highlights of 2020 Exploration Programs Past-Producing Champagne Project: Mapping and Sampling - Emphasizing historic mines and prospects across the 10 square miles of property; Initiation of Soil Geochemical Surveys; Geophysics - Induced Polarization (IP), Magnetics, and Very Low Frequency (VLF) electromagnetics surveys are all under evaluation in order to better understand elements of the subsurface geology, including structural geology, alteration, and the presence of sulfide mineralization at depth; and Reverse Circulation (RC) Drilling - Drilling will commence on patented ground and within the historic past producing pit area utilizing both historic and newly acquired data to target drill holes. Baner Gold Project: Core Drilling - First targets are to extend the 2018 Baner gold discovery to the northeast; Initiation of Soil Geochemical Surveys; Geologic mapping and rock sampling; and Regional mapping - Angel Zone. The Company also announces that it is in the process of finalizing the drilling contractor for both 2020 drill programs. About the 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 on the project, which complement drilling and trenching from other previous opera...