(TSX Venture: CBA)
CALGARY, June 6 /CNW/ - Champion Bear Resources Ltd. ("Champion Bear" or
the "Company") is pleased to announce that diamond drilling has commenced on
its Iron Mask Property located in Sudbury, Ontario. The Company plans to drill
four to five additional holes totalling 1,200 metres to test four more of the
priority targets identified by the Company from previous ground gravity and IP
geophysical surveys (see Champion Bear's news release dated October 12, 2004).
The drilling will target Olympic Dam-style polymetallic (Zn, Cu, Ni, Co, Ag,
W, Bi) and gold mineralization.
The initial drilling, completed in December 2005, tested IP anomalies
located within rocks of the Espanola Formation limestone. These targeted known
Zn-Cu-Ni-Co-Ag-Bi mineralization within zones known as the Main Zone and Henri
Zone. Only three holes were completed prior to the 2005 Christmas Break.
Anomalous zinc +/- copper mineralization was encountered associated with
magnetite-bearing limestones of the Henri Zone and included 0.39% Zn over core
length of 1.9 metres (see Champion Bear's news release dated March 9, 2005).
Serpent Formation wackes and siltstones which overlay the Espanola Formation
also contained elevated copper and zinc values.
The granite and portions of the diabase (gabbro) are permeated with
magnetite veins which appear to be controlled by deep seated fault structures
both cross-cutting and parallel to the diabase/granite contact zones.
Magnetite veins and veinlets permeate well into the surrounding diabase and
granite basement rocks near these structures. Sudbury breccia has also been
intersected along the granite contact zones at several locations. The
magnetite skarn deposits within the Espanola Formation Limestones may also be
sourced from the vertical fault structures.
Champion Bear has also extended its exploration grid approximately four
kilometres northeast along the projected trend of the magnetic and gravity
anomalies. Approximately 70 kilometres of linecutting with spacings at 100 and
200 metre intervals has been completed. Ground magnetic surveys are currently
underway and follow-up geological mapping and geochemical sampling is
scheduled for this summer.
Joe Hinzer, P. Geo., of Watts, Griffis and McOuat Limited, a qualified
person, has been overseeing the field surveys and has reviewed this news
release.
Champion Bear is a mineral exploration company focused exclusively on the
historically prospective regions of Ontario. The Company's primary targets are
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, totalling
over 16,000 hectares.
Forward-looking statements - statements included in this news release
that are not historical facts may be considered "forward-looking statements".
All estimates and statements that describe the Company's objectives, goals or
future plans are forward-looking statements. Forward-looking statements
involve inherent risks and uncertainties where actual results could differ
materially from those currently anticipated.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
