Idaho Champion (CSE:ITKO, OTCQB:GLDRF) Gold Mines Canada Inc has reported results from the first two drill holes in its 2021 exploration drilling program at its 100%- controlled Champagne gold project near Arco in Idaho.
The drill holes encountered the interpreted outer halo of a zoned polymetallic mineral system, consistent with that expected from a potential porphyry copper system at depth beneath the Champagne caldera, the gold exploration company said in a statement.
“We are encouraged that the first two drill holes from the project encountered both narrow high-grade veins and broad intervals of alteration and anomalous geochemistry,” said Jonathan Buick, CEO of Idaho Champion (CSE:ITKO, OTCQB:GLDRF).
“The drilling this year covered an area of 2 km by 2 km. These distal indicators discovered in the first drill holes are consistent with our interpretation that a deeper porphyry copper system is driving the Champagne mineral system. We look forward to more extensive drilling in other parts of the system and to depth."
The first two drill holes encountered significant alteration, sulfide mineralization, and elevated levels of Ag (Silver), Au (Gold), Cu (Copper), Pb (Lead), Zn (Zinc), and other pathfinder elements sufficient to explain both the geophysical and geochemical anomalies in the area. However, it is clear now that these holes occupy the distal halo around a larger polymetallic system, Idaho Champion (CSE:ITKO, OTCQB:GLDRF) said.
Highlights include:
- 1,380 grams per tonne (g/t) Ag , 9.8% Cu, 17.45% Pb, and 13.5% Zn over 0.1 metres from 408.7 metres depth
- 690 g/t Ag and 2.8% Cu over 0.1 metres from 557.8 metres depth
The first drill hole, DDH-CC-21-01, penetrated weakly-altered felsic tuffaceous volcanics with trace pyrite to an unconformable contact with basement siliclastic metasediments at a depth of 25.65 meters. The metasediments underlying the volcanic rocks comprise of pyritiferous and carbonaceous interlayered siltite and argillite of the McGowan Creek Formation (Mississippian). The basement rocks were anomalous in Ag and Zn over significant widths, indicating large-scale hydrothermal alteration, even beyond the volcanic rocks of the caldera. It was evident from the relatively thin volcanic rocks in the hole that it was near the western margin of the caldera, so drilling was terminated at a depth of 85.8 meters.
READ: Idaho Champion Gold Mines Canada completes this year's exploration at Champagne project, Idaho
The second drill hole, DDH-CC-22-02, was collared farther east into the caldera where it passed through a thick section (439.5 meters) of andesitic to felsic volcanic rocks cut by numerous porphyritic quartz-latite dikes. Both the volcanic rocks and the dikes are strongly affected by quartz-clay-pyrite and, at depth, quartz-sericite-pyrite alteration. Pyrite is abundant as disseminations, veinlets, joint coatings, and in-filling crackle and mosaic breccias. In places, minor amounts of galena, sphalerite, chalcopyrite and sulfosalt minerals were noted to be present with pyrite.
At 439.5 m depth, the hole passed into the hornfelsed McGowan Creek Formation. The basement rocks continue to reflect significant amounts of pyrite and carbonaceous materials. There are throughgoing veinlets of polymetallic sulfosalt and sulfide minerals, ranging from one to ten cm thick, cutting both the altered volcanic rocks and basement sedimentary rocks. The bonanza grade veins highlighted above are only two of eight noteworthy veins.
In DDH-CC-21-02, the long intervals of highly altered volcanic rocks and hornfelsed sedimentary rocks often include anomalous silver, lead, and zinc values over intervals as long as 13.0 meters. The veinlets become increasingly copper-rich with depth, which is consistent with geochemical zonation noted around porphyry copper systems. There are also other indications of higher temperature magmatic influence of the hydothermal fluids, such as the highly anomalous bismuth, molybdenum, tin, and rhenium associated with several of the veins.
Idaho Champion (CSE:ITKO, OTCQB:GLDRF) is vested in Idaho with the Baner Project in Idaho County, the Champagne Project located in Butte County near Arco, and four cobalt properties in Lemhi County in the Idaho Cobalt Belt.