Perpetua Resources Corp. press release
Champion Bear commences new Airborne Magnetic and Radiometric Survey at its Eagle Rock Cu-Ni PGE Property in the Dryden area
NASDAQ - Nasdaq Stock Market · Gold · Antimony · Silver · United States
(TSX Venture: CBA)
CALGARY, June 22 /CNW/ - Champion Bear Resources Ltd. ("Champion Bear" or the "Company") is pleased to announce that it has engaged Terraquest Ltd. to complete a High Resolution Horizontal Gradiometer Aeromagnetic and Radiometric Survey to cover the western portion of the Entwine Intrusive located on its Eagle Rock Property in the Dryden area. The survey, which commenced this week, will consist of approximately 700 line kilometres at a flight line spacing of 100 metres and a +/- 20 metre terrain clearance. The objectives of the survey are to define in more detail the extent of the mineralized strata at the Campbell Zone where previous work has traced anomalous mineralization along a strike length in excess of 1.1 kilometres (see Champion Bear's news release dated February 27, 2001) and to test for other potential targets elsewhere within the intrusive complex. The Company is also starting a program to conduct a magnetic susceptibility survey and to re-log and resample the previous drill core to better define the controls on mineralization. Champion Bear is planning follow up diamond drilling later in the year, to further define the extent and tenor of the Cu-Ni-Pt-Pd-Au mineralization. The mineralization encountered to date at the Campbell Zone is in the range of 0.1 to 0.4 g Au/t, 0.1 to 0.5 g Pt/t, 0.2 to 0.8 g Pd/t, 1.5 to 8 g Ag/t, 0.2 to 0.8% Cu and 0.02 to 0.16% Ni. The zone ranges in width from 5 to 40 metres and only a few holes have tested below the upper 100 metres. Details of the proposed drilling program will be contingent on the results of the above surveys. Joe Hinzer, P. Geo., a qualified person, of Watts, Griffis and McOuat Limited, Champion Bear's consulting geologists, has been overseeing the field surveys and has reviewed this news release.
Champion Bear is a mineral exploration company focused exclusively on the historically prospective regions of Ontario. The Company's primary targets are platinum group and precious metals and to a lesser extent polymetallic base metal and pegmatite-hosted tantalum deposits. Champion Bear's aim is to create shareholder value through selective property acquisition and joint venture followed by focused exploration emphasizing drilling. The Company has assembled a large land position in the Dryden and Sudbury areas, totalling over 16,000 hectares.
Forward-looking statements - statements included in this news release that are not historical facts may be considered "forward-looking statements". All estimates and statements that describe the Company's objectives, goals or future plans are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties where actual results could differ materially from those currently anticipated.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.