(TSX Venture: CBA)
CALGARY, April 16 /CNW/ - Champion Bear Resources Ltd. ("Champion Bear") announced today that drilling has commenced at its Plomp Farm East gold property west of Dryden, Ontario. Drilling will initially test a new zone of anomalous copper and gold mineralization on the Plomp Farm East claims (see Champion Bear's news release dated September 14, 2006). The drilling will target geophysical anomalies from the recently completed IP and magnetic survey, coincident with anomalous surface samples. Other targets include follow-up testing of previously identified, near surface gold mineralization west of the main Plomp Farm zone.
Deeper drilling to follow up the higher grade gold encountered during the Corporation's 2006 exploration program (see Champion Bear's news release dated April 3, 2006) is expected to commence shortly after the completion of the shallow drilling and upon availability of the required larger drill. Champion Bear intends to drill several wedge cuts from existing holes to better define the nature and extent of the structures hosting the higher-grade mineralization.
A 4,000 metre drill contract has been signed with Northstar Drilling for the Plomp Farm drilling.
Technical project supervision 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 drilling to be completed on the Plomp Farm property 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.