CHAMPION BEAR RESOURCES LTD. ANNOUNCES NEXT PHASE OF EXPLORATION.CALGARY, ALBERTA--(BUSINESS WIRE)--MAY 30, 1995--CHAMPION BEAR RES. (Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). :CBA See Capital Builder Account. ) Champion Bear Resources Ltd. announced plans today for the next phase of exploration on wholly owned properties in the Dryden Area of Northwestern Ontario. An overall budget of two million dollars is anticipated. A drill program estimated at one million dollars is planned for the Plomp Farm Gold property, twenty kilometres west of Dryden. The last and deepest hole of an earlier program encountered a sixty foot wide sulphide schist schist (shĭst), metamorphic rock having a foliated, or plated, structure called schistosity in which the component flaky minerals are visible to the naked eye. zone averaging gold values of 0.03 oz/ton. This included local sections of higher gold values including 1.3 feet of 0.28 oz/ton and 10.0 feet of 0.10 oz/ton. The zone contains highly elevated accessory minerals (silver, molybdenum molybdenum (məlĭb`dənəm) [Gr.,=leadlike], metallic chemical element; symbol Mo; at. no. 42; at. wt. 95.94; m.p. about 2,617°C;; b.p. about 4,612°C;; sp. gr. 10.22 at 20°C;; valence +2, +3, +4, +5, or +6. , copper, zinc, bismuth bismuth (bĭz`məth) [Ger. Weisse Masse=white mass], metallic chemical element; symbol Bi; at. no. 83; at. wt. 208.9804; m.p. 271.3°C;; b.p. about 1,560°C;; sp. gr. 9.75 at 20°C;; valence +3 or +5. and mercury) and is considered to have all of the attributes of a major gold environment. It has been traced by drilling for a strike length in excess of 800 metres and is open towards the west and at depth. At the Rivers Prospect, 45 kilometres northeast of Dryden, a $500,000.00 program is planned. The work is designed to delineate a lens of gold/silver mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. outlined by earlier work and to test for extension down dip and along strike towards the northeast. Values of gold occurrences up to 1.16 oz/ton over a width of 3 feet have been encountered within this zone. Part of the program will also test other favourable targets on the property. Assay results from five initial holes on the Alto-Gardner prospect, five miles southwest of the Rivers Main Zone included gold values up to 0.14 oz/ton over widths of 1.6 feet in a similar shear environment. Other work planned for 1995 includes on the July Falls gold property in the Pickle Lake area as well as preliminary work on properties in the immediate area of the Thunder Lake gold prospect (Teck/Carteck) twenty kilometres east of Dryden. Champion Bear Resources Ltd. trades on The Alberta Stock Exchange under the trading symbol Trading symbol See: Ticker symbol CBA. -0- NOTE: The Alberta Stock Exchange neither approves nor disapproves of the information contained herein. CONTACT: Mr. Richard Kantor (403) 229-9522 |
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