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Idaho Champion Intersects 1.39 Grams Per Tonne Gold Over 15.10 Metres on Its First Ever Drill Program at the Baner Project, Idaho

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Idaho Champion Intersects 1.39 Grams Per Tonne Gold Over 15.10 Metres on Its First Ever Drill Program at the Baner Project, Idaho

 

 

 

 

 

Idaho Champion Gold Mines Canada Inc. (CSE: ITKO) a discovery-focused gold exploration company, is pleased to report on the initial batch of assay results from the Company’s Baner Project in Idaho.

 

 

Highlights:

 

  • The initial batch of assay results represent the first five holes of the Company’s first drill campaign on the Baner property.
  • Mineralization intersected at shallow depths
  • Assay results for 13 remaining holes pending
  • In June 2018, Champion commenced a 5,000-metre drill program
    on the Baner property

 

 

President and CEO, Jonathan Buick stated: “We are pleased to see gold showings at shallow depths in the first batch of assay results. Champion’s first drill program on the Baner property was designed to test the IP survey anomalies coupled with the sample program which we completed in 2017.”

 

 

Table 1: ICG2018 Drill Program Holes 1 to 5 – Significant Intercepts

 

 

Drill Hole   From (m) To (m) Width (m)1 Gold (Au) g/t
ICG2018-1   16.5 23 6.50 0.54
  66 68 2.00 3.09
  83 101 15.10 1.39
  124 128 4.00 2.60
  144.2 145 0.80 0.52
  274 277 3.00 2.16
ICG2018-2   151 158 7.00 0.69
  161.5 162.5 1.00 0.93
ICG2018-3 No Significant Values
ICG2018-4   62.5 67.0 4.50 1.01
ICG2018-5   33 36 3.00 1.78

1The intervals reported in these tables represent drill intercepts and insufficient data are available at this time to state the true thickness of the mineralized intervals. All gold values are uncut.

 

Figure 1 accompanying this announcement is available at

 http://www.globenewswire.com/NewsRoom/AttachmentNg/8dc78515-e9c0-4449-8f58-89daafec2b3f

 

 

Drilling strategy

 

 

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 Orogande into an underground gold operation.

 

 

QA/QC Program

 

 

Quality Assurance/Quality Control consists of the regular insertion of duplicates, blanks and certified reference standards into the sample stream. Check samples will be submitted to an umpire laboratory at the end of the drilling program.  Samples are kept in a secure facility and transferred to American Analytical Services, Inc. in Osburn, Idaho in sealed containers on a weekly basis from the drill site by company contractors.  Personnel handling core are using company approved protocols for all phases of core logging, sample delineation, sample layout, core cutting and storage.

 

 

American Analytical Services, Inc. is ISO 17025 certified.

 

 

American Analytical Services, Inc. has a standard operating procedure (SOP) for all aspects of sample drop off, drying and preparation, digestion, instrument analysis, quality control assurance and computerized data reporting.

 

 

Gold assays are determined by Fire Assay with a gravimetric finish using a 30 gram aliquot (1 Assay Ton). The detection limit for gold by FA/Grav is 0.10 g/t (100 ppb).

 

 

Idaho Champion as a part of the QA/QC protocol inserts a pre-pulverised 50g certified standard ranging in value from a low of 0.968 g/t , to 4.19 g/t and a high of 12.31 g/t. These are inserted by random grade into the sample stream at a rate of 1 standard every 20 samples. In addition a certified blank is inserted into the sample stream at a rate of 1 blank per 40 samples.

 

 

Assays are directly imported electronically from the American Analytical Services, Inc. certificate into Geosoft MX Deposit where QA/QC data are monitored for pass/fail.

 

 

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. Field work at the Baner project site was supervised by Jim Baughman P.Geo.

 

 

ABOUT IDAHO CHAMPION

 

 

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.

 

Posted October 23, 2018

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