Idaho Champion Gold Mines Canada Inc (CSE:ITKO) (OTCQB:GLDRF) (FRA:1QB1) told investors it had identified a new gold target with 600 metres (m) of strike length at its Baner gold project in the US state of Idaho.
Soil samples collected in October 2020 at the Angel target threw up very encouraging results, the company said, with anomalous gold found near the western boundary of the Orogrande Shear Zone (OSZ).
READ: Idaho Champion Gold Mines Canada reports elevated gold, silver, and base metals values from sampling at Champagne project
"The addition of a new western gold target with 600 metres of strike length in the Orogrande Shear Zone reinforces our confidence that the Baner project has a scale and scope that will lead to the identification of a large gold system," said president and CEO Jonathan Buick.
"The details of our 2021 field program will be announced later in the second quarter," he added.
Gold values ranged from the below detection limit of 3 parts per billion (ppb) to a maximum value of 1,080 ppb.
Nine samples assayed greater than 100 ppb gold, which all occurred within around 150m of the interpreted western boundary of the OSZ.
The highest gold value of 1,080 ppb was found directly along the interpreted trace of the shear zone, Idaho noted.
The Baner project sits 8 kilometers (km) southwest of Elk City, within the OSZ, which is a 20km long and up to 1km wide regional shear zone in central Idaho.
Notably, in 2020, Endomines AB brought the Friday gold project into production based on a measured and indicated (M&I) resource of 462,000 tonnes grading 6.54 grams per ton (g/t) gold. This asset lies within the OSZ around 8km south of Baner.
Exploration drilling by Idaho at the Baner property in 2018 and 2020 concentrated along the eastern boundary of the OSZ and yielded significant gold mineralization in both near-surface oxide and deeper quartz-sulfide intercepts.
The location now known as the Angel Zone was the first defined exploration target along the western margin of the OSZ and further work in this area is warranted and is a priority for the Baner project in 2021, the company said.
Idaho Champion is vested in the Baner project in Idaho County, the Champagne project in Butte County near Arco, and four cobalt properties in Lemhi County in the Idaho Cobalt Belt.
Contact the author at giles@proactiveinvestors.com