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Idaho Champion Gold Mines Ltd.
Summary
| Project: | Baner | |
|---|---|---|
| Deposit: | Baner | |
| Location: | United States | |
| Commodities: | Gold | |
| Date: | 10/25/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 25-10-2018: Idaho Champion Gold Mines Ltd. announces an Exploration/Drilling Update report for its Baner deposit at the Baner project. Drilling results incl. 6.30m @ 8.66g/t Au from 115m. TORONTO, Oct. 25, 2018 -- Idaho Champion Gold Mines Canada Inc. (CS | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Peter Karelse (Independent) | |
| ABSTRACT: | TORONTO, Oct. 25, 2018 -- Idaho Champion Gold Mines Canada Inc. (CSE: ITKO) (“Champion” or the "Company"), is pleased to report on the second batch of assay results from the Company’s Baner Project in Idaho. Highlights: • Drilling continued to show mineralization intersected at shallow depths • Assay results included ICG2018-8 which intersected 8.66 grams per tonne (“g/t”) over 6.30 metres and ICG2018-9 intersecting 1.32 g/t over 12.80 metres. President and CEO, Jonathan Buick stated: “This batch of assay results is confirming that we are close to discovering the location of the main structure in the Orogrande Shear Zone of central Idaho and are encouraged about the potential moving forward as we continue to receive assays from our recently completed 19-hole program.” The 2018 Baner Drill Program takes into consideration historical reports (Wagner), Premium soil sample & geophysical data, rock data collected by Idaho Champion Gold Mines in 2016 & 2017 along with surface geological mapping". Drill Hole ICG2018-1 located the Orogrande Shear Zone and holes ICG2018 2,3,4, & 5 located the shear zone south of the first drill hole. Gold mineralization is related to the shear zone and occurs as fine grained pyrite on fractures and in veins and along foliation of quartzite. A deep level of oxidation was observed in the drill holes. Regional Description The Baner Project is located within the Orogrande shear zone (OSZ), a 30 kilometer long and up to 3 kilometer wide regional shear zone located in Central Idaho. The Baner Claim block covers a series of parallel shear zones on the eastern margin of the OSZ. Significant oxidation and mineralization associated with the OSZ consists of quartz, sericite, & fine-grained pyrite. Mineralization includes disseminated low-grade precious metal mineralization in associated stockwork veins, hydraulic breccias; Plus high-grade gold associated with discreet structurally controlled quartz veins. The Baner Project is in the central Idaho Gold Belt, 8 km south of the of Elk City, Idaho. Elk City is an historic gold mining region dating back to the 1860s and once supported more than 20 underground mines and extensive placer operations. During the 1930’s there were three cyanide mills along the Crooked River processing open pit and underground sulfide ore. Exploration in the district during the 1980’s and 1990’s included Cypress-Amax, Kinross Gold, Bema Gold focused primarily on near-surface bulk-tonnage gold potential targeting a Fort Knox type occurrence. Premium Exploration conducted extensive drilling, soil sampling, and airborne and surface geophysics in the 2010 era. Currently a Finnish gold producer, Endomines AB is developing the Friday Gold Project at Orogrande into an underground gold operation | |
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