Perpetua Resources Corp. press release
Western extension of main gold horizon confirmed at Champion Bear's Plomp Farm gold project in Dryden
NASDAQ - Nasdaq Stock Market · Gold · Antimony · Silver · United States
CALGARY, Sept. 14 /CNW/ - Champion Bear Resources Ltd. ("Champion Bear" or the "Company") is pleased to announce that a recently completed ground magnetic survey confirms the extension of the main gold horizon over the Company's entire Plomp Farm Property (including the western claims optioned from Teck-Cominco), a distance of more than 4 kilometres. The magnetic survey results show a continuous pattern (a moderate low response) (see the hatched area in the attached Figure 1 (to view, click http://files.newswire.ca/363/bear1.pdf), which has been interpreted as the expression of the mineralized horizon. The central 1.4 kilometre portion of this magnetic zone coincides with the projected surface expression of gold mineralization encountered in the diamond drilling completed to date and as shown in the attached Figure 2 (to view, click http://files.newswire.ca/363/bear2.pdf) (previously released June 1, 2005). The Company is encouraged by the magnetic survey results which support the current interpretation that the mineralized horizon continues and plunges to the west. The current interpretation is based on geochemical and geological parameters. Champion Bear has also completed an IP survey and selected quantitative sections covering the same grid. This data is currently being interpreted in conjunction with the ground magnetic data and available geological data to help target the next phase of drilling. The ground magnetic surveys were conducted by Vision Exploration on grid lines at 100 metre intervals with readings at 12.5 metre intervals. Champion Bear is planning a two-pronged exploration program for the Plomp Farm Property including geological and structural surface mapping and an extensive 8,000 plus metre diamond drilling program to test the gold mineralization down plunge and to the southwest at vertical depths of 400 to 900 metres. The field mapping and diamond drilling are expected to commence in October. Joe Hinzer, P. Geo. of Watts, Griffis and McOuat Limited, is also the qualified person responsible for the technical aspects of 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.