Idaho Champion (CSE:ITKO, OTCQB:GLDRF) Gold Mines Canada Inc has posted more drill results from last year's program at its flagship Champagne gold project, which continue to suggest the potential for a porphyry copper or molybdenum deposit at depth.
All five of the latest holes from the asset in Butte county, Idaho returned highly anomalous intervals of silver, zinc, copper, molybdenum and lead, suggesting the presence of a large zoned polymetallic system.
"Champion's 2021 drilling strategy at Champagne was built around drilling "fences" starting on the west end of the property and working our way east to test the geology and structure associated with the large anomaly that we identified in 2020," explained Jonathan Buick, Idaho Champion CEO, in a statement.
"The drilling results are consistent with our interpretation that a deeper porphyry copper system underlies the Champagne district. We can see favourable indications and potential targets on the eastern and western portions of the caldera complex.
READ: Idaho Champion Gold Mines Canada believes it is just 'scratching the surface' of system with world-class potential at Champagne
"These targets definitely warrant more drilling. We will compile the remaining data and formulate a follow-up program with the best likelihood of hitting the larger system we believe to be present," he added.
Highlight results included an intercept of 0.1 meters (m) at 124 grams per ton (g/t) silver and 2.55% copper from 63.4m depth in one hole, and 7.88% zinc and 11.68 g/t silver with anomalous copper, moly and lead in a length of 0.4m from 329m depth in another.
Each of the new holes included narrow intercepts of quartz-sulfide-sulfosalt veining with moderate to high silver-zinc-lead values, which are often associated with strongly anomalous copper and moly mineralization, noted the firm.
Such veins may occur in the outer halos around porphyry systems, it added.
The company is advancing its wholly-owned mineral properties in Idaho, USA and is vested in the Baner project, the Champagne project and four cobalt properties in Lemhi County in the Idaho Cobalt Belt.
The Champagne mine at the project of the same name was operated by Bema Gold as a heap leach operation. Bema drilled 72 shallow reverse circulation (RC) holes on the project, which complemented drilling and trenching from other previous operators.
But the property has had no deep drilling or significant modern exploration since the mine closed in early 1992.
Contact the author at giles@proactiveinvestors.com