Champion Bear Resources Ltd - News Release
Champion Bear drill results
Champion Bear Resources Ltd CBA
Shares issued 7,877,642 Jan 28 close $1.00
Fri 30 Jan 98 News Release
Mr Richard Kantor reports
The company has received results from a six hole drill program completed on
its wholly owned Plomp Farm gold property near Dryden, Ontario. The holes
were drilled to test two lenses of gold/silver mineralization outlined from
earlier drilling. The mineralization on the property is associated with a
quartz sericite pyrite schist zone between metasediments and a quartz
porphyry. This sheared and altered zone averages 40 eet in thickness and
has been traced over a strike length of 1.5 miles.
Holes PF-80 and PF-81 tested the Main-East zone centred on line 400 east.
They intersected the target area at depths of 450 and 550 metres. Both
holes intersected wide alteration zones containing elevated gold/silver
values.
>From - To Width Au Ag Other
(m) (g/t) (g/t)
Hole PF-80
519.5-555.0 35.5 0.163 4.17
(incl)
541.0-543.0 2.0 0.498 28.25
Hole PF-81
599.0-654.5 55.5 0.125 4.44
(incl)
603.0-605.0 2.0 0.550 3.2 0.073% Cu
639.4-640.4 1.0 0.563 18.85 0.125% Zn
Holes PF-82 to PF-85 tested the upward extension of the Ardis Lake zone
centred on line 500 west and penetrating at depths of 380, 500, 365 and 460
metres, respectively.
>From - To Width Au Ag Other
(m) (g/t) (g/t)
Hole PF-82
452.0-469.3 17.3 0.313 5.18 0.08% Cu
0.1% Zn
(incl)
452.0-462.0 10.0 0.429 6.76 0.113% Cu
468.6-469.3 0.7 1.127 25.1 0.15% Cu
2.0% Zn
Hole PF-83
545.0-555.0 10.0 0.212 2.75
(incl)
552.0-555.0 3.0 0.555 5.63 0.068% Cu
569.0-570.0 1.0 7.434 8.7 (Au re-run
10.25 g/t)
Hole PF-84
435.3-463.7 28.4 0.402 3.12
(incl)
435.5-448.0 12.7 0.807 5.32 0.06% Cu
435.3-439.0 3.7 1.155 3.9 0.088% Cu
443.0-445.0 2.0 1.145 11.4 0.118% Cu
Hole PF-85
495.0-522.0 27.0 0.297 5.57 0.087% Cu
(incl)
511.0-516.0 5.0 0.498 7.81 0.117% Cu
514.5-515.0 0.5 1.175 9.2 0.159% Cu
The company has prepared a field budget of approximately $5,000,000 to
carry out the next exploration phase on all of its properties, including a
budget of $2,000,000 for an extensive and systematic drill program designed
to test the Main zone on the Plomp Farm property. This drill program will
commence once financing is in place.
The drilling program reported upon herein was initiated on October 24 1997
and completed on December 11 1997. The first samples were shipped to the
laboratory on November 4 1997 and the last shipped on January 18 1998. The
last and final results were received on January 27 1998.
The following is a summary of drill hole information relating to the six
holes totalling 3,568 metres that was completed during this program and
reported upon herein.
Fini-
Hole Loca- Dir- shing Core
No. Grid tion ection Dip Date Size
NORTHING EASTING
PF-80 -175m 550m 328 -65 Nov 4/97 NQ
PF-81 -175m 550m 335 -70 Nov 12/97 NQ
PF-82 -275m -500m 355 -63 Nov 18/97 NQ
PF-83 -275m -500m 350 -76 Nov 25/97 NQ
PF-84 -275m -500m 010 -60 Dec 1/97 NQ
PF-85 -275m -500m 010 -70 Dec 11/97 NQ
All holes were drilled to test a zone of altered felsic rocks localized
between metasediments and a quartz porphyritic unit. All holes were
collared in a granodiorite lens and passed into metasediments prior to
intersecting the mineralized zone. The holes then passed through the
footwall porphyry and were terminated in a felsic unit identified from
previous drilling on the property. Samples were taken from throughout the
mineralized structure as well as from any other units within the hole that
contained sulphides or other indicators of gold mineralization.
The analytical results presented in the preceding tables represent all
samples from the holes with elevated gold/silver mineralization and are
based upon assays carried out by Intertek Testing Services
(Bondar-Clegg/Chimitek) at their laboratory in Val d'Or, Quebec. Intertek
Testing Services (Bondar-Clegg/Chimitek) is a well recognized and respected
laboratory. Their quality control involves the analysis of two analytical
standards and a minimum of two sample repeats in each batch of samples. The
sampling procedure, shipment and analytical methodology utilized is
summarized as follows:
a. NQ Core (diameter of 4.76cm, more of less) is drilled, recovered and
placed in boxes by the drill contractor (St Lambert Drilling of
Valleyfield, Quebec). The core is delivered on a timely basis, not
greater than the end of each shift, to the geologists logging
facilities.
b. The core is thawed out, if required, oriented and logged by a
geologist who marks up intervals to be sampled. These intervals are
typically 1.0 metres in length, but may vary depending upon
lithologies, mineralization or other observations.
c. Samples are then split in half by a trained and experienced assistant
utilizing a diamond bladed core saw. Samples are numbered, bagged and
each bag taped closed. The remaining half of the core is replaced in
the boxes and stored in racks for future reference. The bags are then
packed in boxes, sealed and shipped via Greyhound Courier Express to
Bondar-Clegg in Timmins, Ontario.
d. At the Timmins Laboratory, each sample is completely crushed to -10
mesh. From this a 250 gram portion is riffle split and pulverized to a
-150 mesh size (pulps). This material is packaged, labelled and
delivered to the assay laboratory in Val d'Or, Quebec.
e. At the laboratory, a 30 gram sample is split and fire assayed for gold
using an AA (atomic absorption) finish. Any sample found to contain in
excess of 500 ppb (0.5 g/t), gold is automatically re-assayed using
fire assay methods followed by a gravimetric finish. A second split of
the sample is digested by Hcl-HNO3, and analysed by AA methods for Cu,
Pb, Zn, Ag and Mo.
f. Reject material from the samples submitted are retained at the
laboratory for at least 90 days. Any leftover pulps are placed in
boxes and returned to the company's camp facilities near Dryden,
Ontario for storage and check assaying if warranted.
WARNING: The company relies upon litigation protection for
"forward-looking" statements.
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