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Gold/Mining/Energy : Champion Bear Resources

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To: ken dresser who wrote ()	3/10/1998 12:07:00 PM
From: Ron Baxter	Read Replies (2) of 122

Champion Bear Resources Ltd - Agreement for property in Sudbury mining division Champion Bear Resources Ltd CBA Shares issued 8077018 1998-03-09 close $1.36 Tuesday Mar 10 1998 Mr Richard Kantor reports The company has entered into an agreement with Richard Kantor, president and director of the company, for the acquisition of a property containing 622 claim units and three leased mining claims totalling approximately 25,000 acres in the Sudbury mining division of Ontario (the Iron Mask property). The purchase price payable to Mr Kantor by the company is 362,000 shares in the capital of company at a deemed price per share of $1.00. The purchase price is subject to change, depending on the requirements of the ASE and as may be agreed upon between the Mr Kantor and the company. The Iron Mask property is host to three known high grade cobalt nickel copper prospects. A 6 ton shipment of material from the Magnetite shaft in 1929 assayed 15% cobalt and 52 oz/ton, silver. The three prospects are hosted by iron oxides in an early proterozoic aged granitic/metasedimentary environment. The geologic setting, age, complex mineralogy - Co/Ni/Cu/Zn/Au/Ag/U - and a distinct magnetic high anomaly associated with the three prospects suggests an environment favourable for an Olympic Dam type of deposit. A fourth prospect on the property is a 5km long portion of a concentric offset dyke, a sulphide bearing gabbroic rock that is equivalent to the nick copper platinum bearing sublayer of the Sudbury Igneous complex. These dykes are host to numerous ore bodies in the Sudbury area. The Iron Mask property covers portions of an offset dyke adjacent to a deposit owned by Inco in east-central Hess township. An exploration program involving an airborne geophysical survey, trenching and diamond drilling will begin as soon as financing is in place. WARNING: The company relies upon litigation protection for "forward-looking" statements. (c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com Ken here is some more news lots of things to ponder on

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