(TSX Venture: CBA)
CALGARY, May 17 /CNW/ - Champion Bear Resources Ltd. ("Champion Bear") is pleased to announce preliminary assay results from recently completed drilling at its Sudbury area Iron Mask property.
A polymetallic Olympic Dam style model is the exploration target on which the drilling is focused. An extensive mineralized target area has been indicated by previous gravity and induced polarization surveys (see Champion Bear's news release dated August 21, 2004).
Three holes have been completed, for a total depth of 816 metres (see Champion Bear's news release dated May 1, 2007). Preliminary assays from hole IM-07-08 averaged 1,442 ppm Cu (0.14% Cu) for a core length of 14.6 metres from 105.0 to 119.6 metres (see samples 2257 to 2273 in Table 1). This intersection is 30 metres down dip from previous hole IM-05-05 which intersected 7.2 metres, from 99.5 to 106.7 metres, which averaged 1,275 ppm copper (0.13% Cu) (see Champion Bear's news release dated August 9, 2005).
These results indicate that the focused drilling program has begun to define the most prospective target area. Future drilling will continue tracing the mineralization down dip and along the 650 metre strike length of untested IP anomaly between the current drill targets.
Partial assay results from the other two holes drilled 650 metres along strike to the northwest also encountered encouraging results. A 0.8 metre section from 94.2 to 95.0 metres (see Table 1) in drill hole No. IM-07-09 returned 5,695 ppm copper (0.57% Cu) from the same unit. Hole No. IM-07-10, which was drilled to test the same unit approximately 30 metres below, returned 6,890 ppm Cu (0.69% Cu) over 0.7 metres from 120.7 to 121.4 metres (see Table 1). While the true width of these intersections has not been determined accurately it is estimated to be approximately 85 to 90% of the reported core length.
Champion Bear is encouraged by the promising preliminary assay results. The remaining assay results as well as the ore grade check assays are still pending and will be announced upon receipt.
Core samples were split by hydraulic splitter and sealed in plastic sample bags for shipping and all samples were hand delivered to the SGS preparation facility in Sudbury. Once prepared, samples were forwarded directly to the SGS Laboratory in Toronto, an ISO accredited analytical facility.
All samples were analysed using a trace and base metal 32 element package (code ICP12B) including Zn, Pb, Cu, Ni, Co, Ag, As, Bi, Ba and W. Ore-Grade analyses by ICP-OES after Na(2)O(2) Fusion for "copper only" will be run, on all elevated samples.
The drilling program was supervised in the field by Watts, Griffis and McOuat Limited's Senior Associate Geologist, Paul Dunbar, P.Geo. The QP for the technical aspects of this news release is Joe Hinzer, P.Geo.
TABLE 1
PRELIMINARY ASSAY RESULTS
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Hole Sample From To Length Au Cu Ni Pb Zn
No. No. (m) (m) (m) (ppb) (ppm) (ppm) (ppm) (ppm)
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IM-07-08 2257 105.0 106.0 1.0 7 2,070 22 less 21.5
than
2
2258 106.0 107.0 1.0 4 1,920 43 less 29
than
2
2259 107.0 108.0 1.0 5 985 34 7 26.5
2260 108.0 109.0 1.0 2 244 22 5 11.4
2261 109.0 109.5 0.5 2 553 22 9 12.7
2262 109.5 110.0 0.5 1 204 26 3 2.3
2263 110.0 111.0 1.0 4 1,180 28 10 20
2264 111.0 112.0 1.0 3 3,620 17 less 3.9
than
2
2265 112.0 113.0 1.0 1 328 21 less 2
than
2
2266 113.0 114.0 1.0 2 550 14 less 3.7
than
2
2267 114.0 115.0 1.0 13 1,320 98 2 7.3
2268 115.0 115.5 0.5 26 421 176 less 9
than
2
2269 115.5 116.0 0.5 5 208 69 less 5.3
than
2
2270 116.0 117.0 1.0 10 865 140 less 7
than
2
2271 117.0 118.0 1.0 7 2,860 135 less 12.2
than
2
2272 118.0 118.5 0.5 17 5,040 101 less 15.9
than
2
2273 118.5 119.6 1.1 4 1,720 23 less 15.9
than
2
IM-07-09 2302 94.2 95.0 0.8 66 5,540 41 5 39.7
Duplicate 74 5,850 42 4 35.3
2310 100.2 101.2 1.0 49 102 13 19 17.8
2311 101.2 101.7 0.5 71 383 16 12 16.4
2312 101.7 102.7 1.0 125 57.4 14 2 28.7
2318 107.0 107.9 0.9 27 24.8 22 6 42.3
2320 108.5 109.5 1.0 23 16.8 29 5 12.2
2325 113.5 114.5 1.0 11 374 47 5 45.9
2328 116.4 117.1 0.7 19 2,540 29 35 12.6
IM-07-10 2384 118.5 119.2 0.7 66 379 8 less 9.5
than
2
2387 120.7 121.4 0.7 579 6,890 43 7 79.9
2390 123.4 124.0 0.6 421 413 20 35 10.4
2391 124.0 125.0 1.0 305 493 10 43 14.5
2392 125.0 126.0 1.0 23 12.1 10 42 31
2394 126.9 127.8 0.9 1,110 206 20 5 29.3
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Champion Bear is a mineral exploration company focused exclusively on the historically prospective regions of Ontario. The company's primary target is platinum group and precious metals and to a lesser extent polymetallic base metal and pegmatite-hosted tantalum deposits. Champion Bear's aim is to create shareholder value through selective property acquisition and joint venture followed by focused exploration emphasizing drilling. The Company has assembled a large land position in the Dryden and Sudbury areas, totaling over 16,000 hectares.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.