arco inn

Idaho Champion Gold Commences Drill Program at Champagne Gold Project

Idaho Champion Gold Mines Canada Inc. (CSE:ITKO)(OTCQB:GLDRF)(FSE:1QB1)(“IdahoChampion” or the 'Company') is pleased to announce that the Company has commenced the planned drill program to test the large geophysical anomaly reported earlier this year at its 100% controlled Champagne Gold Project (“Champagne”) near the city of Arco, Butte County, Idaho

The Company recently announced that it has signed a contract with National Drilling for an 8,000 metre exploration core drilling program (See press release dated June 8, 2021). The drill and crew have mobilized to site and drilling is underway on the first hole.

The drill program is designed to test the large induced polarization (IP) anomaly (Figure 1) with a series of drill holes comprising “fences” along IP Lines 4 and 5. The first two (2) drill holes will be placed on the recently acquired private ground located toward the west end of the IP anomaly (See press release dated June 29, 2021).

“Commencing this drill program marks an exciting step for Idaho Champion as we begin fence drilling the IP anomaly. Given the evidence uncovered so far on this huge anomaly, we have high expectations of encountering mineralization as we test the roots of the Champagne mineral system. It is helpful that we are able to drill immediately on our recently acquired private ground,” commented President and CEO, Jonathan Buick.

Figure 1. 2021 Drill Program Location in relation to IP anomaly.

About the Champagne Project

The Champagne Mine* was operated by Bema Gold as a heap leach operation on an epithermal gold-silver system that occurs in volcanic rocks. Bema Gold drilled 72 shallow reverse circulation holes on the project, which complement drilling and trenching from other previous operators. The property has had no deep drilling or significant modern exploration since the mine closure in early 1992.

The Champagne Deposit contains epigenetic style gold and silver mineralization that occurs in strongly altered Tertiary volcanic tuffs and flows of acid to intermediate composition. Champagne has a near surface cap of gold-silver mineralization emplaced by deep-seated structures that acted as conduits for precious metal rich hydrothermal fluids. Higher grade zones in the Champagne Deposit appear to be related to such feeder zones.

* The Company cautions that the information about the past-producing mine may not be indicative of mineralization on Champion's property, and if mineralization does occur, that it will occur in sufficient quantity or grade that would result in an economic extraction scenario. The historic data were simply used to evaluate the prospective nature of the property. The Company has not yet conducted sufficient exploration to ascertain if a mineral resource is present on the property.

Qualified Person

The technical information in this press release has been reviewed and approved by Peter Karelse P.Geo., a consultant to the Company, who is a Qualified Person as defined by NI 43-101. Mr. Karelse has more than 30 years of experience in exploration and development.

About Idaho Champion Gold Mines Inc.

Idaho Champion is a discovery-focused gold exploration company that is committed to advancing its 100%-owned highly prospective mineral properties located in Idaho, United States. The Company's shares trade on the CSE under the trading symbol “ITKO”, on the OTCQB under the trading symbol “GLDRF”, and on the Frankfurt Stock Exchange under the symbol “1QB1”. Idaho Champion is vested in Idaho with the Baner Project in Idaho County, the Champagne Project located in Butte County near Arco, and four cobalt properties in Lemhi County in the Idaho Cobalt Belt. Idaho Champion strives to be a responsible environmental steward, stakeholder and a contributing citizen to the local communities where it operates. Idaho Champion takes its social license seriously, employing local community members and service providers at its operations whenever possible.

ON BEHALF OF THE BOARD
“Jonathan Buick”
Jonathan Buick, President and CEO

For further information, please visit the Company's SEDAR profile at www.sedar.com or the Company's corporate website at www.idahochamp.com.

For further information please contact:
Nicholas Konkin, Marketing and Communications
Phone: (416) 567- 9087
Email: nkonkin@idahochamp.com

THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY ANY SECURITIES IN ANY JURISDICTION, NOR SHALL THERE BE ANY OFFER, SALE, OR SOLICITATION OF SECURITIES IN ANY STATE IN THE UNITED STATES IN WHICH SUCH OFFER, SALE, OR SOLICITATION WOULD BE UNLAWFUL.

Cautionary Statements

Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or accepted responsibility for the adequacy or accuracy of this press release This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of the Company. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company, including suggested strike extension. Although the Company believes that the expectations and assumptions on which such forward-looking information is based on are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. The Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

SOURCE:Idaho Champion Gold Mines Canada Inc.



View source version on accesswire.com:
https://www.accesswire.com/654511/Idaho-Champion-Gold-Commences-Drill-Program-at-Champagne-Gold-Project

News Provided by ACCESSWIRE via QuoteMedia

The Conversation (0)
Gold bars.

Top 5 Canadian Mining Stocks This Week: Sanu Gold Sparkles with 200 Percent Gain

Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian and US news impacting the resource sector.

The S&P/TSX Venture Composite Index (INDEXTSI:JX) fell 1.22 percent on the week to close at 610.22 on Friday (December 6). Meanwhile, the S&P/TSX Composite Index (INDEXTSI:OSPTX) posted a 0.16 percent increase to reach 25,691.8, and the CSE Composite Index (CSE:CSECOMP) dropped 2.68 percent to 137.68.

The US Bureau of Labor Statistics released its employment situation report on Friday. The data shows that total nonfarm payrolls increased by 227,000 in November. The figures reflect a rebound from October’s disappointing addition of just 12,000 jobs, as hurricanes Helene and Milton and a Boeing (NYSE:BA) strike impacted the labor market.

Keep reading...Show less

Providence Insider Closes First Financing Tranche

(TheNewswire)

Providence Gold Mines Inc.

December 6, 2024 TheNewswire - Providence Gold Mines Inc. ( TSX-V PHD ) (OTC-PINKS: PRRVF) (FRANKFURT EXCHANGE 7RH1=F) ("the Company"), is pleased to announce further to the November 20,2024 news release an insider officer and director has completed a private placement in the amount of $75,000 Cdn for 1,500,000 units at $0.05 per unit. Each unit comprises of one common share and one non-transferable warrant exercisable into one common share of the Company at a price of $0.09 for a period of two years from the date of approval of closing. The funds will be used for general purposes.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less

Newmont Announces Agreement to Divest CC&V for up to $275 Million

Divestitures Announced to Date to Generate up to $3.9 Billion in Gross Proceeds

News Provided by Business Wire via QuoteMedia

Keep reading...Show less

Wheaton Precious Metals Announces the Acquisition of a Gold Stream from Allied Gold's Kurmuk Project

 Wheaton Precious Metals™ Corp. ("Wheaton" or the "Company") is pleased to announce that its wholly-owned subsidiary, Wheaton Precious Metals International Ltd. ("WPMI") has entered into a definitive Precious Metals Purchase Agreement (the "Gold Stream") with Allied Gold Corporation and its wholly owned subsidiary Allied Gold Services Inc. (together, "Allied"), in respect of the Kurmuk Project located in Ethiopia (the "Project" or "Kurmuk").

"Wheaton is pleased to announce a streaming agreement with Allied to advance the construction of the Kurmuk project, which is set to be the first commercial gold mine in Ethiopia ," said Randy Smallwood , President and CEO of Wheaton Precious Metals. "This fully permitted, high quality development project offers significant exploration potential, supported by a team at Allied with a proven operating track record. We are excited to partner with Allied to unlock opportunities that empower the local communities and help drive the growth of Ethiopia's emerging metals and mining sector."

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Adrian Day, gold bars.

Adrian Day: US$2,500 Gold? Pullback Would be "Healthy," Reasons to Buy Remain

The gold price has seen ups and downs since the US election.

The yellow metal took a hit directly after Donald Trump's victory, falling to the US$2,550 per ounce level. But then it staged a quick recovery, passing US$2,700. It's now pulled back again, currently at around US$2,650.

Ahead of gold's second post-election decline, Adrian Day, president of Adrian Day Asset Management, told the Investing News Network he wouldn't be surprised to see another leg down.

Keep reading...Show less
Gareth Soloway, gold, silver and Bitcoin.

Gareth Soloway: Gold, Silver, Bitcoin and More — Price Predictions for 2025

Speaking to the Investing News Network, Gareth Soloway, chief market strategist at VerifiedInvesting.com, shared his latest price forecasts for gold and silver, as well as Bitcoin.

Heading into 2025, he said he thinks the yellow metal will be the year's best-performing asset.

"I would have to take gold — and again, for me it's the risk that if we go to US$107,000 on Bitcoin, let's say, we could pull back to US$75,000 next year ... that drawdown is a hefty drawdown of 30 percent or so at that point," he said.

Keep reading...Show less

Latest Press Releases

Related News

×