Idaho Champion Gold (CSE:ITKO,OTCQB:GLDRF,FSE:1QB1) is a Canada-based gold exploration company with six highly prospective mineral properties in Idaho, USA. The company’s two flagship projects are moving forward with fully funded drilling programs in Idaho. The political stability and historic success of mining in the region provide excellent support and resources to help the company advance its projects.
Idaho has been known for its mining activities since the 1860s, particularly with the gold rush from 1863 to 1866. This year, the Fraser Institute yearly report has the state ranked 8th best mining jurisdiction in the world and 3rd in North America. The Baner property, located 10 kilometers southwest of Elk City, Idaho, has had numerous gold deposits drilled in the Clearwater River between the 1850s and late 1980s. This historic gold district contains established mines and projects, including Endomines’ Friday mine, as well as additional open pits that have yielded great mineral deposits and have become the site of prolific mining and heightened drilling interest in recent years.
These mineral properties have led to major financing in mining companies over 2019 and 2020 by local and international stakeholders, and to the re-emergence of exploration. This includes Idaho Champion’s two primary projects, the Baner project and Champagne project, as well as their Idaho Cobalt project and other projects led by mining companies like Integra Resources (TSXV:ITR), Revival Gold (TSXV:RVG) and Liberty Gold (TSX:LGD).
Idaho Champion’s top projects operate in safe and stable jurisdictions in Central Idaho. Close proximity to infrastructure, including roads, power and developed towns, has enabled key partnerships with local governing bodies and many employees and consultants who are native to the area and offer decades of expertise on local geology. Idaho Champion’s management team includes Greg Schifrin, a geologist and Idaho native, and Patrick Highsmith, an expert in international mining. These partnerships — along with a strong leadership and capital markets team — have led to many successes for the company.
In 2018, Idaho Champion saw its newest gold discovery with the Baner project. Located in the middle of the Orogrande Shear Zone 3, the Baner project’s drilling program has yielded 19 successfully intercepted holes and has shown million-plus-ounce potential. The property is 100 percent owned with no NSRs, which allows for fast-tracking of permit acquisition and exploration.
The past-producing Champagne project operating out of Butte County, Idaho, has provided a jump start on exploration for Idaho Champion. The property package contains ten square miles of historic mines, veins and artisanal pits from past production by Bema Gold and the Heap Leach Gold Mine from 1990 to 1993. This opens the potential for exploration of “Midas” type deposits, copper mineral assemblage in the Moran Tunnel and historical drilling points in high-grade gold and silver zones. With core drilling data purchased from Kinross (TSX:K) in March 2020, this favorable location has also shown evidence of surface-level high-grade and high-yield gold and has demonstrated overwhelming potential for exploration into 2020. The company is currently drilling up to 5,000 metres with an RC rig and a diamond core rig with assays pending.
In September 2020, a second drill rig was mobilized for core drilling in Champagne, showing promising advancements in the project. Data acquired for the region, such as gold surface sampling, has also demonstrated the geological setting should respond well to IP Geophysics.
The company holds C$8.1 million in cash as of July 2020, which, alongside patented claims and operational properties on private lands, has provided sufficient capital and advantageous positioning for planned exploration programs through to 2021.
Idaho Champion Gold Highlights
- Gold exploration in the re-emerging historic Elk City gold district in Idaho, USA
- The Baner project saw Idaho’s newest gold discovery in 2018 where high-grade gold was discovered to be present near-surface level
- Company projects are located in safe and stable jurisdictions with 100 percent ownership
- Through the Champagne project, Idaho Champion has patented claims for and established exploration plans of past-producing oxide gold drilling sites with historically mined open pits
- The company holds C$8.1 million in cash as of July 2020, which allows for a fully funded drill program focused on the exploration of the company’s properties through 2021
- The Idaho Champion management team holds 30 plus percent of outstanding shares with the rest appealing to the interests of shareholders