Idaho Champion Gold Mines Canada Inc (CSE:ITKO) (OTCQB:GLDRF) has reported new results from drilling at its Champagne gold project in Idaho that intersected “promising” precious metals mineralization.
The Toronto-based exploration company said it had intersected 1 gram per ton (g/t) gold equivalent ounces over 43 metres, including 1.2 g/t gold equivalent over 31.9 metres.
Three of the seven holes reported Tuesday intersected precious metals mineralization, with the strongest presence of gold and silver intersected in DDH-CC-20-02, according to a release.
READ: Idaho Champion Gold Mines reveals shallow anomalies and high priority targets at its Champagne gold project
DDH-CC-20-02 was sited to test the projected trace of the Last Chance Zone, which had historically been exploited for oxide-silver and deeper lead-zinc-silver sulfide mineralization, Idaho Champion said, adding that the common occurrence of accessory famatinite (copper-antimony sulfosalt) and aikinite (copper-bismuth sulfosalt) with the sulfide ore is also of “exploration interest.”
Champagne Gold Project 2020 Exploration Drill Hole Locations
The Last Chance Zone was intersected between drilling depths of 123.14 to 166.12 Metres and is comprised of strongly pyritized breccia and brecciated andesite with sulfide intervals approaching semi-massive character. The results show that the zinc and lead values appear to be tapering off downhole, but anomalous gold content continues to depth, as does silver and copper, according to the junior company.
"Core drilling and results of our IP survey have provided data to better formulate a conceptual geologic model for the Champagne District," Idaho Champion CEO Jonathan Buick said in a statement.
"The promising mineralization from the program demonstrates there is gold in the system below the historic mined pits where we are confident that we can identify additional resources. Our evolving geologic model indicates that the base, or roots, of a larger system that may have been the feeder for all mining in this district, lies off to the west.”
The company said it will drill test the large body of anomalous chargeability in 2021.
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