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Idaho Champion Gold Mines releases 2021 drill program plans

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Idaho Champion Gold Mines Canada Inc (CSE:ITKO) (OTCQB:GLDRF) (FRA:1QB1) has unveiled drill program plans for its 2021 exploration program at the Champagne Gold Project near the city of Arco, Butte County, Idaho.

The precious metals explorer has penned a contract with National Drilling for an 8,000-metre core drill. The program is slated to commence once final approvals from the US Bureau of Land Management.

In the meantime, Idaho Champion Gold geologists are presently on-site and conducting mapping and sampling around known occurrences of mineralized vein breccia.

READ: Idaho Champion Gold Mines launches non-brokered private placement for gross proceeds of up to $1.5M

“From Champion’s technical efforts during the 2020 exploration program, we believe that the breccia veins and vuggy silica bodies exploited at Mine Hill and outlying areas represent two distinct epithermal events; a high silver, polymetallic phase and a distinct, high sulfidation overprint,” Craig Bow, technical advisor at Idaho Champion Gold said in the statement.

The Champagne Deposit contains epigenetic style gold and silver mineralization, as well as a near-surface cap of gold-silver mineralization.

The 2021 drill program is designed to test the large Induced Polarization (IP) anomaly identified during the 2020 exploration program northwest of the Mine Hill mineralization. The drilling will proceed with a series of holes comprising “fences”, first along IP line 4 and then line 5. The program design includes possible additional holes along IP line 3.

“The drill targets along IP lines 4 and 5 are first priority because of the strength of the anomaly and the relatively shallow depth of cover rocks above the detachment fault, ranging between 30 to 60 meters. Given the relatively shallow depth to the target, there is the potential for outlining an open-pittable resource in this area,” commented Idaho Champion’s chief geologist, Robert Kell. “The mineralization at Mine Hill occurred in near-vertical to steeply dipping vein breccia and vuggy silica zones, so the angled holes in the 2021 program are designed to effectively test such high-angle features and optimize our geologic understanding.”

As part of the field program, the company said it will engage Durango Geophysical to complete IP line 6 and add two new lines, which will be completed late in the second quarter. Lines 7 and 8 will be designed to test for an extension of the IP anomaly another 800 meters to the north. The completion of line 6 is essential for fully defining the anomaly, which will be needed to plan further drilling to the south, it added.

Depending upon the results of the extended IP survey, the drill may be moved northward to test the continuation of the anomaly. Bringing in a second drill rig toward the end of August is already being considered to take on drilling out the anomaly in a southward direction, including the potential holes along IP line 3, the company noted.

In addition to the 2021 drill program news, Idaho Champion Gold reported that it has completed a previously announced early exercise warrant incentive program.

Under the program, Idaho Champion received aggregate gross proceeds of $45,000 upon the exercise of 300,000 warrants and issued 300,000 incentive warrants. The incentive warrants are subject to a four-month and a day hold period.  

Contact Georgia at [email protected]

Follow her on Twitter @MissInformd

Story by ProactiveInvestors


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