Idaho Champion Gold Mines Canada Inc. (CSE: ITKO) (OTCQB: GLDRF) has had drilling success in all five of the latest drill holes of the 2021 exploration drilling campaign at its 100%-controlled Champagne Gold in Idaho.
The latest results are for drill holes DDH-CC-21-03 through 06, and -10 include 2,269 metres out of a total of 3,430 metres drilled in the programme. Results remain pending for drill holes DDH-CC-21-07 through 09.
All five of the new drill holes returned highly anomalous intervals of silver (Ag), zinc (Zn), copper (Cu), molybdenum (Mo) and lead (Pb). Gold (Au) is usually elevated with higher silver values, but there is only one narrow interval of gold exceeding 0.3 g/t (1.58 m at 1.26 g/t and 23.3 g/t Ag in CC-DH-21-05 at 505 m depth).
CEO, Jonathan Buick, said that, as in the previously released drill holes (DDH-CC-21-01 and -02), the drill results from Champagne continue to suggest the presence of a large zoned polymetallic system, consistent with the potential for a porphyry copper or molybdenum deposit at depth.
“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,” Mr Buick said.
“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.
“These targets definitely warrant more drilling. We will compile the remaining data and formulate a follow-up programme with the best likelihood of hitting the larger system we believe to be present.”
Selected Drill Hole Highlights
- DDH-CC-21-03: 0.1m at 124 g/t Ag and 2.55% Cu from 63.4 m depth
- DDH-CC-21-06: 0.4 m at 7.88% Zn and 11.68 g/t Ag with anomalous Cu, Mo, and Pb from 329.0 m depth
- DDH-CC-21-05: ~140 m of highly anomalous Zn, Pb, Cu, Ag, and Mo from 393 m depth
- DDH-CC-21-10: ~121 m of highly anomalous Zn, Ag
Each of the new drill holes includes narrow intercepts of quartz-sulphide-sulphosalt veining with moderate to high Ag-Zn-Pb values. The narrow veins are often associated with strongly anomalous Cu and Mo mineralisation. Such veins may occur in the outer halos around porphyry systems.
The Champagne Project is host to a large interpreted volcanic caldera complex containing significant volumes of altered rock, which is also consistent with the shallow portions of a porphyry copper or molybdenum system.
Mr Buick said the company is most encouraged by the numerous thick sections of anomalous Ag – Zn – Pb + Cu + Mo + As + Bi encountered by this drilling. These broader zones of weak to moderate mineralisation are sometimes punctuated by the narrow high-grade veinlets.
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