Idaho Champion Gold Mines Canada Inc. [ITKO-CSE; GLDRF-OTCQB; IQB1-FSE] reported assay results from the next five drill holes of the 2021 exploration drilling campaign at its 100%-controlled Champagne gold project near the city of Arco, Butte County, Idaho.
These results for drill holes DDH-CC-21-03 through 06, and -10 include 2,269 metres out of a total of 3,430 metres drilled in the program. Results remain pending for drill holes DDH-CC-21-07 through 09.
All five of the new drill holes returned highly anomalous intervals of silver (Ag), zinc (Zn), copper (Cu), molybdenum (Mo) and lead (Pb). Gold (Au) is usually elevated with higher silver values, but there is only one narrow interval of gold exceeding 0.3 g/t (1.58 metres at 1.26 g/t gold and 23.3 g/t silver in CC-DH-21-05 at 505 metres depth).
As in the previously released drill holes (DDH-CC-21-01 and -02), the drill results from Champagne continue to suggest the presence of a large zoned polymetallic system, consistent with the potential for a porphyry copper or molybdenum deposit at depth.
Jonathan Buick, CEO, commented: “Champion’s 2021 drilling strategy at Champagne was built around drilling ‘fences’ starting on the west end of the property and working our way east to test the geology and structure associated with the large anomaly that we identified in 2020. The drilling results are consistent with our interpretation that a deeper porphyry copper system underlies the Champagne district. We can see favourable indications and potential targets on the eastern and western portions of the caldera complex. These targets definitely warrant more drilling. We will compile the remaining data and formulate a follow-up program with the best likelihood of hitting the larger system we believe to be present.”
Selected highlights include drill hole DDH-CC-21-03 that returned 0.1 metre at 124 g/t silver and 2.55% copper from 63.4 metres depth. DDH-CC-21-06 returned 0.4 metres at 7.88% zinc and 11.68 g/t silver with anomalous Cu, Mo, and Pb from 329.0 metres depth. DDH-CC-21-05 returned ~140 metres of highly anomalous Zn, Pb, Cu, Ag, and Mo from 393 m depth. DDH-CC-21-10 returned ~121 metres of highly anomalous Zn and Ag.
The primary purpose of the 2021 drill program was to test the large IP anomaly, coincident soil geochemistry anomalies, and the Company’s model for a structurally disrupted porphyry – epithermal Au-Ag system for the Champagne Project. Sampling and drilling have confirmed the presence of a large alteration system with multi-element zonation and complex geometry controlled by a highly-faulted volcanic caldera.
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.