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Champlain Resources Inc. Commences Work Program on Laird Lake Gold Property and Issues Threshold Notice to Warrantholders
Champlain Resources Inc. Commences Work Program on Laird Lake Gold Property and Issues Threshold ...
About this update from Copper Lake Resources Ltd.
[{"type":"text","content":"\nChamplain Resources Inc. Commences Work Program on Laird Lake Gold Property and Issues Threshold Notice to Warrantholders\n\n\n Oct. 14, 2010 (Filing Services Canada) -- Champlain Resources Inc. (CPL - TSX Venture), is pleased to announce that a fall exploration program has commenced on the Laird Lake Gold Project located in the prolific Red Lake Gold Camp in northern, Ontario of which the Corporation may earn a 100% interest.  The program will be carried out by a crew of four experienced prospectors and is expected to be completed by mid November.  All known historic gold showings will be re-visited, sampled and re-evaluated.  Numerous other priority targets will be investigated and reconnaissance prospecting of the claims will be performed.  A compilation of all available data is currently on-going.  The Phase 1 prospecting program will help define priority targets for a more extensive 2011 program expected to begin in the spring of 2011.The Laird Lake Property consists of 24 contiguous unpatented mining claims covering a 3872 hectare area located approximately 20 kilometers southwest from the town of Red Lake.  Locally, the claims are situated 2.5 and 4 kilometers along strike to the west of the historic Madsen and Starrett-Olsen Gold Deposits which have historically produced 2.45 million oz Au at a grade of 0.283 oz/ton Au and 163,990 oz/ton Au at a grade of 0.18 oz/ton Au respectively.  Sporadic exploration work has been ongoing in this area since 1936 and numerous high grade, gold bearing quartz veins and alteration zones have been identified with historical samples collected on the Property assaying up to 4.7 ounces per ton gold.  The property is thought to contain favorable geology and structure to host significant gold deposits and an intensive exploration program will be required to fully determine its potential. Threshold Notice issued to WarrantholdersThe Corporation also wishes to announce that it has issued a Threshold Notice advising Warrantholders that the volume weighted average closing market price of the Corporation's common shares during a consecutive five (5) day period has been equal to or greater than $0.10 (the \"Threshold Event\") and declaring that as a consequence of the Threshold Event the Warrants shall expire on Novemb...