Idaho Champion (CSE:ITKO, OTCQB:GLDRF) Gold Mines Canada Inc told investors that it has completed its 2021 exploration program at the Champagne gold project in Idaho, which has underlined the potential to grow the asset.
The company said it sunk ten diamond drill holes, for 3,432 metres (m) on induced polarization (IP) lines -3, -4 and -6 and expanded its IP coverage by a further 7,800 line metres in two lines over the northern extent of the so-called St. Louis- Reliance Corridor.
"The large scale of the IP anomaly discovered in 2020 warranted a rigorous drilling test, so we completed several drill fences across the shallower targets reported earlier this year," explained Jonathan Buick, Idaho Champion (CSE:ITKO, OTCQB:GLDRF)'s CEO in a statement.
"As we recently announced, the extent of alteration, sulfide mineralization, and veining is encouraging.
READ: Idaho Champion Gold Mines Canada discovers new mineralized corridor at its Champagne gold project in Idaho
"We encountered disseminated and vein hosted sulfide minerals that indicate depth continuity to the mineral system. We are confident that the results from this drill program will improve our understanding of the zonation within this large geophysical anomaly and mineral system."
Buick added that potential for both high-grade veins and porphyry-style mineralization at Champagne was an "excellent foundation for the continued growth of Idaho Champion".
The Champagne deposit contains epigenetic style gold and silver mineralization and the Champagne mine was operated by Bema Gold in the 1990s as a heap leach operation on an epithermal gold-silver system in volcanic rocks.
Work in 2020 revealed that the vein system and breccia bodies at Mine Hill had been sheared off at shallow depth and the roots of the vein and breccia system may have significant depth extent, including possible bonanza grades.
The 2020 IP survey defined a large IP anomaly west of Mine Hill and extending for 2,000 metres north-south and having widths up to 1,000 metres. The geophysical anomaly appears to have considerable depth extent (over 800 metres).
The property has had no deep drilling or significant modern exploration since the mine was closed in early 1992.
Contact the writer at giles@proactiveinvestors.com