Sep. 30, 2009 (Filing Services Canada) -- Champlain Resources Inc. (CPL.H - TSX Venture), ("Champlain" or the "Corporation"), listed on the TSX Venture NEX Exchange under the trading symbol "CPL.H", today announces that the NI 43-101 report effective September 22, 2009 for the Gordon Lake Gold Project (the "Report") has been completed by David White P. Geol, a principal of Aurora Geosciences of Yellowknife, NWT. Mr. White is a qualified person as defined by NI 43-101. As previously announced, Champlain entered into a Letter of Intent with Boxxer Gold Corp. contemplating the earning an interest by Champlain in the Gordon Lake Gold Project. The completion of a National Instrument 43-101 compliant report is a condition of the proposed transaction. The Report will be filed under the Corporation's profile on SEDAR in accordance with the requirements of National Instrument 43-101.
The results are summarized below by Gary Vivian, President of Aurora Geosciences and a qualified person.
The Gordon Lake Property lies 115 km NNE of the City of Yellowknife, NWT. It can be accessed via the Lupin Winter Road or by ski- and or float-equipped aircraft year round.
The Gordon Lake Property is host to a minimum of seven (7) auriferous quartz veins which have been documented to extend over a 2 km strike length. These veins are considered to be Coarse Gold-bearing Veins with highly variable gold concentrations both laterally and vertically. These veins occur as stockworkings that pinch and swell producing dilatant zones of quartz stockwork which can occur up to 40 m thick. These coarse gold veins are hosted within metasedimentary turbidites of the Burwash Formation (Yellowknife Supergroup metasediments) and occur within discordant to bedding quartz veins which occupy zones of dilatancy, commonly associated with drag folds.
Historical drilling on the property has identified three discrete zones, the Main, South and Union. The South Zone contains the most prolific intersections to date but all three zones have encouraging intersections. For example, the drilling in 1988 on the South Zone pierced three ore lenses ranging in grade from 14.1 g/t to 145 g/t Au over widths are ranging from 0.9 meters to 4.2 meters. The occurrence of the gold is prevailing within the core and hangingwall portions of the veins.
Follow-up drilling during the 2005 campaign intersected such grades and widths as 4.12 g/t Au across 1.45 meters in the Main Zone, 5.6g/t Au across 6.65 meters and 20.35 g/t Au across 2.7 meters in the South Zone and 3.42 g/t Au across 5.37 meters in the Union Zone.
There are numerous other quartz veins occurring as surface targets which have not yet had any extensive exploration. The following targets require follow-up:
Camp Vein - 200 meters south of Main Zone has returned grab samples ranging between 14.5 and 38.9 g/t Au.
Syn Zone - located some 1.4 km southwest of the Union Zone returned a chip sample over 1.5 meters of 13 g/t Au.
Navel Vein - lies northwest of the South Zone and occurs as thin veins and stockworkings of unknown continuity (due to overburden cover) for over 70 meters. Samples from a 20 cm wide vein have returned values of 4.7 and 13.4 g/t Au.
Road Vein - Occurs between the Main and South veins as gossanous quartz veins over 95 meters in strike. This vein is up to 4m thick and has returned samples up to 3.9 g/t Au.
BLT Zone - Quartz veining and stockworking within a zone of erratic folding and deformation over a strike length of some 350 meters.
A small ohmmapper program (resistivity geophysical unit) was used to help locate the Syn Zone in October of 2008, under snow cover of approximately one (1) foot. This was an attempt to determine a geophysical instrument which could be easily used to help identify additional strike length to some of the known showings and occurrences which trend into swamps and undercover of moss, till and trees.
A program is being planned for this fall (mid-October) to channel sample and geophysically survey the relatively unexplored quartz veins on the Gordon Lake Property in order to organize for a drill program in late winter of 2009/2010.
For further information contact:
Mr. Troy Mochoruk Mr. Rick Mills
Chairman & CEO: Investor Relations Contact
Tel: (403) 618-8989 Tel: (778) 983-0001
E-mail: [email protected]
www.champlainresources.com
This press release contains certain forward-looking statements including without limitation expectations regarding the satisfaction of certain conditions set forth in the Letter of Intent. These statements are based on Champlain's current expectations and assumptions that could prove to be incorrect. The forward-looking statements are not guarantees of future performance and undue reliance should not be placed on them. The Corporation has assumed that the terms of the Letter of Intent will be acceptable to regulatory authorities and that the proposed private placement can be and will be completed on a timely basis. The Corporation has relied wholly on the Report provided by Aurora Geosciences with respect to the disclosures made with respect to the Property. Actual results may differ materially as a result of risks, uncertainties and other factors, such as: changes in the general economic, regulatory, industry, market and business conditions, fluctuations in commodity prices and currency exchange rates; the successful and timely implementation of growth projects; imprecision of reserve estimates; environmental risks; and competition from other industry participants. In addition to the foregoing risk factors, the assumptions made by the Corporation are subject to the risk that regulatory approval is not within the control of the Corporation and there can be no assurance that any portion of the proposed financing will be completed. Also affecting the accuracy of any forward-looking statement is the availability of capital required to implement future operational plans, uncertainties resulting from potential delays or changes in plans, among others. Unless otherwise required by securities laws, the Corporation is not under any obligation to update the forward looking statements, assumptions and related risks made herein.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
{00490448-4}
CHAMPLAIN RESOURCES INC.
Suite #1614
246 Stewart Green SW
Calgary Alberta T3H 3G5
Source: Champlain Resources Inc. (CPL.H - TSX-V)
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