May 4, 2011 (Filing Services Canada) -- Champlain Resources Inc. (CPL - TSX Venture), has received final analytical assay results from 126 lake sediment samples collected during its Phase 2, 2011 Winter Exploration Program on the Corporation's 100% operated Boston Gold Project located in the Red Lake Area of Ontario. The preliminary gold results from the lake sediment survey were made public in a press release dated April 20, 2011. These results proved very encouraging and anomalous gold in lake sediments were found to correlate directly with high priority geophysical targets interpreted from the recently completed geophysical program over Laird Lake.
The newly acquired multi-element geochemical data highlights several anomalous areas that show excellent geochemical correlation under Laird Lake. The geochemical program has also proved very effective in mapping various lithologies under the lake. Of particular interest, are two areas of elevated gold values in lake sediments that correlate directly with interpreted ultramafic assemblages. Multi-element geochemical analysis from the 51 element ICP-MS assay data again suggests this unit has an ultramafic affinity. The assemblage correlates directly with the Laird Lake Central Zone as described in the April 20, 2011 press release. The contact zone in this area represents a high priority target for Champlain to drill during the corporation's planned 2011 program.
Geochemical plan maps for various elements pertaining to the Laird Lake sampling program can be found on the Champlain website at www.champlainresources.com.
Mr. Troy Mochoruk, Chairman and CEO states, "The lake sediment sampling program has elevated our excitement in the potential of the Boston Gold Project. The Phase 2 Program has proved very successful in highlighting high priority coincident geochemical/geophysical drill targets for future drilling. We look forward to moving the Boston Program forward and are currently in the process of planning the upcoming summer work program as a prelude to our first drilling campaign in the area".
All lake sediment samples were analyzed using an ICP-MS51 assay technique at ALS Chemex Ltd, an ISO17025 accredited laboratory.
The information in this news release has been reviewed and approved by R. Dean Fraser, P.Geo, a "qualified person" under National Instrument 43-101.
For further information contact:
Mr. Troy Mochoruk
Chairman and CEO:
#1614, 246 Stewart Green SW
Calgary, AB T3H 3C8
Tel: (403) 618-8989
[email protected]
www.champlainresources.com
Cautionary Statement Regarding Forward Looking Information
This press release may contain forward-looking statements which may include plans, expectations, opinions, forecasts, projections or other statements that are not statements of fact, in particular comments relating to actively exploring the Laird Lake area and moving the Laird Lake program to a drill ready stage during 2011. Although the Corporation believes that the expectations reflected in such forward-looking statements are reasonable, it cannot give any assurance that such expectations will prove to be correct.
Achieving the expected timelines and expectations, may be affected by a variety of variables and risks associated with the capital markets and the mining and mineral processing industry, the ability of the Corporation to obtain sufficient financing to complete the program, as well as risks and variables associated in general with the Corporation's industry. As such the future plans and objectives of the Corporation are forward-looking statements that involve risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in such statements. The Corporation has, in part, relied on information provided in the report prepared by ALS in order to develop its forward-looking statements and there is no assurance that the assumptions, forecasts or information relied upon by the Corporation is correct, or will not be affected by events or circumstances beyond the control of the Corporation. The Corporation's forward-looking statements are expressly qualified in their entirety by this cautionary statement. Unless otherwise required by applicable securities laws, the Corporation does not intend nor does it undertake any obligation to update or review any forward-looking statements to reflect subsequent information, events, results or circumstances or otherwise.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
To view this release as a web page, please click on the following link:
http://www.usetdas.com/pr/champlain05042011.htm
Source: Champlain Resources Inc. (CPL - TSX-V)
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