Business
Idaho Champion Mobilizes Drill at Past Producing Champagne Project
TORONTO, ON / ACCESSWIRE / August 19, 2020 / Idaho Champion Gold Mines Canada Inc. (CSE:ITKO) (OTC PINK:GLDRF)("Idaho Champion" or the "Company"), announces tha
About this update from Champion Electric Metals Inc.
[{"type":"text","content":" TORONTO, ON / ACCESSWIRE / August 19, 2020 / Idaho Champion Gold Mines Canada Inc. (CSE:ITKO) (OTC PINK:GLDRF)(\"Idaho Champion\" or the \"Company\"), announces that a drill has been mobilized for the Company's maiden drill program at the past-producing Champagne Gold Project near Arco, Idaho, USA. Idaho Champion will commence a 5,000 metre drill program using Reverse Circulation (RC) drilling on the patented ground and within the historic past producing pit area utilizing both historic and newly acquired data to target drill holes. 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 operators. The property has had no deep drilling or significant 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 intermediate composition in the Lava Creek District. Company geologists have confirmed that sericitic and argillic alteration, with and without silicifcation, are widespread at the Champagne Project. According to historic reports, silica flooding, alunite and barite are closely associated with the gold and silver mineralized zone at the historic mine. Champagne has a near surface cap of gold-silver mineralization emplaced by deep-seated structures that acted as conduits for precious metal rich hydrothermal fluids. Higher grade zones in the Champagne Deposit appear to be related to such feeder zones. * The Company cautions that the information about the past-producing mine is not indicative of mineralization on Champion's property, and if mineralization does occur, that it will occur in sufficient quantity or grade that would result in an economic extraction scenario. The historic data were simply used to evaluate the prospectivity of the property. The Company has not yet conducted sufficient exploration to ascertain if a mineral resource is present on the property. Qualified Person The technical information in this press release has been reviewed and approved by Peter Karelse P.Geo., a consultant to the Company, who is a Qualified Person...