(TSX Venture: CBA)
CALGARY, May 1 /CNW/ - Champion Bear Resources Ltd. ("Champion Bear") is pleased to provide the following exploration update at its Sudbury area Iron Mask and Halcyon base metal properties and its Dryden area Plomp Farm (Au) and Eagle Rock (PGE) properties.
Iron Mask and Halcyon Properties
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- The Iron Mask project is a skarn-hosted polymetallic base metal
property northwest of Sudbury. Anomalous Cu, Ag and Zn mineralization
was encountered in previous holes IM 04-03 (see news release dated
March 9, 2005) and IM 05-05 (see news release dated August 9, 2005).
Three new drill holes have just been completed to follow up along
strike and down dip. All three holes encountered skarn type
mineralization similar to the previous holes. Magnetite skarn
sections in holes IM-07-09 and 10, were more extensive that those in
the adjacent shallower hole IM-04-03. Samples have been submitted for
analyses.
- Halcyon is the company's second Sudbury area property, where the
target is nickel. Two holes were just completed to follow up
anomalous Ni mineralization encountered previously in hole HAL-04-10
(see news release dated November 18, 2004).
Plomp Farm and Eagle Rock Properties
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- Gold is the target at the company's Dryden area Plomp Farm property.
Three shallow holes have been completed at Plomp Farm on the eastern
claims acquired in 2006. These holes were drilled to test below
anomalous gold and copper lithogeochemical and coincident IP
anomalies. Each of the three holes intersected sulphide
mineralization ranging from several percent of disseminated and
stringer material up to locally massive 5 to 20 centimetre bands.
Pyrrhotite and pyrite are the dominant minerals and traces of
arsenopyrite and chalcopyrite were also noted. Assays are pending.
- The western-most portion of the Plomp Farm property consists of
claims optioned from Teck Cominco Limited. The first of two holes to
test two other areas of anomalous gold mineralization, at shallower
depths than the main zone, is currently being completed.
- Detailed mapping of the western half of the recently gridded portion
of the East block and prospecting of the remaining East block area
will be carried out this summer.
- Champion Bear has been advised that the deeper penetrating drill
required to follow up the higher-grade mineralization at depth should
arrive on the Plomp Farm property during the first week of May.
- Re-logging and magnetic susceptibility surveying of core from the
Eagle Rock Cu-Au-PGE property is also underway.
Technical project supervision for Champion Bear is provided by Watts, Griffis and McOuat Limited. The QP for the technical aspects of this news release is Joe Hinzer, P. Geo.
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. A large land position has been assembled in the Dryden and Sudbury areas, totaling over 16,000 hectares.
This news release contains forward-looking statements concerning the timing and composition of the exploration to be completed on the Iron Mask, Halcyon, Plomp Farm and Eagle Rock properties which are based on Champion Bear's current internal expectations, which may prove to be incorrect. These statements are not a guarantee of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties that are common to junior mineral exploration companies. These risks and uncertainties include, among other things, changes in general economic, market and business conditions; and competition for, among other things, drilling equipment and skilled personnel. The company undertakes no obligation to update or revise any forward-looking statements except as required by applicable securities laws.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.