Perpetua Resources Corp. press release
Champion Bear extends strike length of mineralized zone at Plomp Farm gold property
NASDAQ - Nasdaq Stock Market · Gold · Antimony · Silver · United States
(TSX Venture: CBA)
CALGARY, July 5 /CNW/ - Champion Bear Resources Ltd. ("Champion Bear" or the "Company") finished its 5,000 metre spring drill program at its Plomp Farm gold property near Dryden, Ontario on July 1st with the completion of hole PFO6-124. Assay results from holes PFO6-120, 121 and 122 have also been received. The results, which average more than 2.5 gram-metres (based on grams per tonne x metres of core length), are presented in Table 1 below. Three holes (PFO6-120, 121 and 123) referred to in this news release were collared on the western portion of Champion Bear's Plomp Farm property optioned from Teck Cominco Limited (see Champion Bear's news release dated August 19, 2004). The results from Hole PFO6-122, drilled on Line 7+00W at -85 degrees, approximately 250 metres deeper than hole PFO6-119 confirmed the Company's model of westward plunging mineralization. This hole encountered anomalous, Au, Ag, Cu, and Zn for a core length of at least 90 metres from 837 to 927 metres. The true width of this zone is approximately 50 to 60 metres. While the average distribution of anomalous Ag, Cu, Pb Zn, is similar to that in hole PFO6-119 (see previous news release dated April 3, 2006), concentrations of Pb and Zn mineralization are higher. This drilling program was designed to confirm the westward plunge of the mineralization and that the zone has the potential to host both the quality and quantity of mineralization required for economic development. Hole PFO6-119 demonstrated the potential for the zone to host high-grade mineralization (31.7 g Au/t, 33.3 g Ag/t and 1.36% Cu for a core length of 0.4 metres from 579.0 to 579.4 metres). Holes PFO6-120 and 122 have demonstrated the presence of an extensive mineralized envelope and confirmed the down plunge extent of the mineralization. Holes PFO6-120 and 121 were drilled to test the lateral extension of the mineralized envelope on Lines 10+00W and 11+00W, 200 metres deeper than previous shallower holes and 300 and 400 metres, respectively, west of hole PFO6-119. Both holes encountered the expected alteration package and confirmed the westward plunge of the mineralization. The recent drill holes (pierce points) are shown on an updated longitudinal section in the attached Figure 1 (to view, click http://files.newswire.ca/363/PlompFarmSections.pdf), which shows the distribution of gold in the mineralized zone expressed in gram-metres. In each case the total gold content of the highest grade portion of the mineralized zone was determined by multiplying the grams per tonne x the core length in metres. Hole PFO6-123 was drilled on Line 12+00W below previous Teck Cominco Limited holes T-3 and 4, to test the extent of the mineralized envelope. Several zones of disseminated sulphide mineralization and silicification associated with faulting similar to adjacent holes PFO6-122 and 121 were observed from 670 to 790 metres. Assays for this hole are pending. Hole PFO6-124 collared 100 metres west of PFO6-122 was drilled to test the down plunge projection of the central part of the mineralized lens encountered in hole PFO6-119. A mineralized zone visually similar in character to the mineralized zones encountered in both holes PFO6-119 and 122 was cored from 816 to 897 metres. The hole was drilled to a total depth of 946 metres. Assay results for this hole, are not expected for at least four to six weeks. A detailed geological mapping and sampling program over the entire property remains underway. The Company will complete plans for additional in fill and exploration drilling as soon as the surface mapping is completed and it receives the results of the outstanding drill core assays. Work to date has indicated that the gold mineralization on the Plomp Farm property is concentrated within a well-defined fault or deformation structure up to 150 metres wide. This is provisionally called the Ardis Lake Structural Zone. Gold and associated anomalous base metal mineralization concentrated within this structural zone appears to occur within a series of southwestwardly plunging lenses. Champion Bear has now traced the strike length of this structural zone for more than 4.6 kilometres from line 32+00W to beyond line 14+00E. Recent prospecting along the projected trend of this zone has also identified similar rocks (assays pending) several kilometres to the east. Based on this work and the likelihood of finding additional mineralized lenses along the structural zone between its Plomp Farm property and the (Teck-Corona Thunder Lake) gold mineralization located approximately 30 kilometres further to the east, Champion Bear has acquired the remaining available claims covering the structural zone east of its Plomp Farm property. Table 1 shows the individual assays for the main elements tested from the selected mineralized sections for holes PFO6-120, 121 and 122 shown on the long section.
<< Table 1 Plomp Farm Partial Assay Results PFO6-120 From To Width Au Ag Cu Zn Pb -------- (m) (g/t)(x) (ppm) (ppm) (ppm) (ppm) Zone: 520.5 521.5 1.0m at 3.03g Sample No. Au/t A06-7282 520.5 521.5 1.0 3.030 8.3 588 1200 300
PFO6-121 Zone 1: 454.0 477.0 23.0m at 0.21g Sample No. Au/t A06-7370 454.0 455.0 1.0 0.100 1.2 189 66 25 A06-7371 455.0 456.0 1.0 0.189 1.8 189 87 48 A06-7372 456.0 457.0 1.0 0.127 1.4 93 134 116 A06-7373 457.0 458.0 1.0 1.910 2.2 116 1330 146 A06-7374 458.0 459.0 1.0 0.094 1 49 285 99 A06-7375 459.0 460.0 1.0 0.060 0.7 39 183 119 A06-7376 460.0 461.0 1.0 0.121 0.7 55 1110 104 A06-7377 461.0 462.0 1.0 0.092 1.5 44 91 95 A06-7378 462.0 463.0 1.0 0.065 0.7 41 99 66 A06-7379 463.0 464.0 1.0 0.166 1.4 90 381 155 A06-7380 464.0 465.0 1.0 0.141 2.2 132 574 171 A06-7381 465.0 466.0 1.0 0.075 1.8 68 168 88 A06-7382 466.0 467.0 1.0 0.158 1.5 76 135 71 A06-7383 467.0 468.0 1.0 0.104 1.6 57 152 80 A06-7384 468.0 469.0 1.0 0.076 1 39 105 101 A06-7385 469.0 470.0 1.0 0.086 1 28 242 106 A06-7386 470.0 471.0 1.0 0.135 2.4 140 235 36 A06-7387 471.0 472.0 1.0 0.334 1.7 31 93 65 A06-7388 472.0 473.0 1.0 0.164 2.1 122 1060 71 A06-7389 473.0 474.0 1.0 0.064 0.9 22 68 44 A06-7390 474.0 475.0 1.0 0.264 0.8 26 81 30 A06-7391 475.0 476.0 1.0 0.105 1 36 91 58 A06-7392 476.0 477.0 1.0 0.146 1.1 42 378 76 A06-7393 477.0 478.0 1.0 0.064 1.8 55 272 101
Zone 2: 575.0 587.0 12.0m at 0.28g Sample No. Au/t A06-7449 575.0 576.0 1.0 0.339 6.3 9 83 30 A06-7450 576.0 577.0 1.0 0.421 11.2 27 143 32 A06-7451 577.0 578.0 1.0 0.381 14.4 21 51 20 A06-7452 578.0 579.0 1.0 0.798 9.3 45 120 32 A06-7453 579.0 580.0 1.0 0.054 2 13 105 47 A06-7454 580.0 581.0 1.0 0.286 20.6 104 286 45 A06-7455 581.0 582.0 1.0 0.124 7.4 26 98 46 A06-7456 582.0 583.0 1.0 0.149 10.8 129 1250 27 A06-7457 583.0 584.0 1.0 0.136 12.8 38 141 29 A06-7458 584.0 585.0 1.0 0.320 10.5 49 242 40 A06-7459 585.0 586.0 1.0 0.178 5.1 58 648 41 A06-7460 586.0 587.0 1.0 0.191 3.4 24 265 27
Table 1 Plomp Farm Partial Assay Results (continued) PFO6-122 From To Width Au Ag Cu Zn Pb -------- (m) (g/t)(x) (ppm) (ppm) (ppm) (ppm) Zone 1: 857.0 869.0 12.0m at 0.24g Sample No. Au/t A06-76l6 856.0 857.0 1.0 0.083 0.7 236 50 21
A06-7617 857.0 858.0 1.0 0.112 less 179 62 18 than 0.3
A06-7618 858.0 859.0 1.0 0.055 0.8 387 108 6 A06-7619 859.0 860.0 1.0 0.615 2.1 1240 940 17 A06-7620 860.0 861.0 1.0 0.078 0.7 544 131 8 A06-7621 861.0 862.0 1.0 0.060 0.4 167 61 6 A06-7622 862.0 862.5 0.5 0.200 1.1 686 164 10 A06-7623 862.5 863.0 0.5 0.532 4.2 2600 254 8 A06-7624 863.0 863.5 0.5 0.243 1.5 1370 177 11 A06-7625 863.5 864.0 0.5 0.612 2.6 1330 140 11 A06-7626 864.0 864.5 0.5 0.491 2 1070 130 10 A06-7627 864.5 865.0 0.5 0.739 3.9 1760 123 11 A06-7628 865.0 866.0 1.0 0.394 2.1 991 299 10
A06-7629 866.0 867.0 1.0 less less 94 94 13 than than 0.002 0.3
A06-7630 867.0 867.5 0.5 less 0.6 38 76 17 than 0.002
A06-7631 867.5 868.0 0.5 0.010 less 103 96 15 than 0.3
A06-7632 868.0 869.0 1.0 0.146 2.3 808 183 19
Zone 2: 886.0 912.0 26.0m at 0.27g Sample No. Au/t A06-7652 886.0 886.5 0.5 0.430 17.6 3670 987 53 A06-7653 886.5 887.0 0.5 0.990 17.5 3690 831 46 A06-7654 887.0 887.5 0.5 0.728 8.1 1860 761 68 A06-7655 887.5 888.0 0.5 0.062 0.8 169 1130 41 A06-7656 888.0 888.5 0.5 0.264 2.5 408 2720 37 A06-7657 888.5 889.0 0.5 0.089 1.1 181 2850 44 A06-7658 889.0 889.5 0.5 0.261 1.5 264 1350 50 A06-7659 889.5 890.0 0.5 0.135 1.5 174 529 92 A06-7660 890.0 890.5 0.5 0.016 0.4 29 209 141 A06-7661 890.5 891.0 0.5 1.220 9.1 1890 680 71 A06-7662 891.0 891.5 0.5 0.781 4.9 690 334 66 A06-7663 891.5 892.0 0.5 0.283 2.7 348 389 114 A06-7664 892.0 892.5 0.5 0.072 1.5 133 449 60 A06-7665 892.5 893.0 0.5 0.137 3.8 529 239 54 A06-7666 893.0 893.5 0.5 0.235 4.9 775 168 45 A06-7667 893.5 894.0 0.5 0.062 1.9 304 98 40 A06-7668 894.0 895.0 1.0 0.161 5.9 905 143 38 A06-7669 895.0 896.0 1.0 0.101 3.1 216 136 31 A06-7670 896.0 897.0 1.0 0.079 1.2 102 170 34 A06-7671 897.0 898.0 1.0 0.124 1.8 90 103 29 A06-7672 898.0 899.0 1.0 0.176 2.3 102 105 29 A06-7673 899.0 900.0 1.0 0.254 2.9 128 200 47 A06-7674 900.0 901.0 1.0 0.220 2.3 64 131 51 A06-7675 901.0 902.0 1.0 0.287 2.1 70 145 55 A06-7676 902.0 903.0 1.0 0.162 2.4 87 148 64 A06-7677 903.0 903.5 0.5 0.403 3.4 298 468 76 A06-7678 903.5 904.0 0.5 0.120 2 127 189 103 A06-7679 904.0 904.5 0.5 0.183 3.5 230 241 189 A06-7680 904.5 905.0 0.5 0.267 2.8 161 522 151 A06-7681 905.0 905.5 0.5 0.149 1.4 47 149 139 A06-7682 905.5 906.0 0.5 0.334 3 125 1390 231 A06-7683 906.0 907.0 1.0 1.300 9.5 621 2480 195 A06-7684 907.0 908.0 1.0 0.206 2.6 130 203 96 A06-7685 908.0 909.0 1.0 0.096 0.8 51 101 72 A06-7686 909.0 910.0 1.0 0.081 1 92 165 44 A06-7687 910.0 911.0 1.0 0.027 1.1 122 126 38 A06-7688 911.0 912.0 1.0 0.147 3.4 368 119 31 (x) Note: Gold values converted from ppb - expressed as g/t. >>
The drilling program and geological mapping program is being carried out under the supervision of Watts, Griffis and McOuat Limited, under the overall direction of Joe Hinzer, P. Geo. the qualified person responsible for the preparation of the technical aspects of this news release. Core samples were saw cut and sealed in plastic sample bags and shipped directly to Activation Laboratories Ltd. in Ancaster, Ontario, an ISO accredited laboratory. Most of the samples were analysed using INNA and ICP-MS techniques on aqua regia digested samples. Samples in excess of 1,000 ppb Au are being retested using fire assay techniques with a gravimetric finish.
Champion Bear is a mineral exploration company focused exclusively on the historically prospective regions of Ontario. Its 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, totaling 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.
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