Idaho Champion Gold Mines Canada Inc (CSE:ITKO) (OTCQB:GLDRF) released results from an induced polarization survey at its Champagne gold project showing “strong IP responses” over more than two kilometres.
The survey revealed chargeability and resistivity data from across the 26-square kilometre project, demonstrating the applicability of the IP technique to mapping and known sulfide-bearing mineralization around the historic mines on the property, according to a release Tuesday.
It also identified deeper chargeable and resistive bodies that may indicate the buried roots of the Champagne precious metals system, the company told shareholders.
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"There is a strong IP response at Champagne that can be confidently correlated between profiles over approximately two kilometres of strike," Idaho Champion CEO Jonathan Buick told investors in a statement.
"More importantly, careful 3D modeling of the geophysics and integration with our geological mapping has revealed that shallow anomalies around the historic mining areas are likely detached from a much larger anomaly to the northwest. Our first round of drilling was directed at these historic targets, but our next phase of work will focus on high priority targets with considerable size potential."
The survey, which was conducted in 2020, consisted of six lines oriented almost east-west and spaced 400 metres apart. Originally planned to include approximately 12 line kilometres, the scale of the target and early results compelled the company to nearly double the survey to 21.4 line kilometres and add a sixth line, which ran across the North Pit of a historic mine.
Located near Acro, Idaho, the Champagne mineral system boasts significant precious and base metal samples of up to 294 grams per ton (g/t) silver, 2.7 g/t gold, 2.8% zinc, 6.6% lead, and 0.3% copper.
Toronto-based Idaho Champion also owns the Baner project and four cobalt properties in the US state.
Contact Angela at angela@proactiveinvestors.com
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