Champion Bear Resources - Corporate Update.CALGARY, Alberta--(BUSINESS WIRE)--June 17, 1996--Champion Bear Resrouce Ltd. (Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). :CBA See Capital Builder Account. ) (the "Corporation") provides the following corporate update: The drill program is continuing on its wholly owned Plomp Farm gold property near Dryden, Ontario Dryden (2006 population 8,195) is the second largest city in the Kenora District of Northwestern Ontario, Canada located on Wabigoon Lake. It is currently the smallest community in the province of Ontario designated as a city. . Two drills are currently operating including a new drill capable of deep drilling. Gold and 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. is hosted on the property by a quartz-sericite-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. horizon up to 100 feet thick (average of 40 feet). This horizon has been traced for in excess of 1.5 miles on the property and remains open along strike. The zone has been tested by several holes below the -1300 foot level. It remains open at depth. Since the last information release, nine (9) drill holes have been completed at strategic locations above the -1300 foot level in the Main Zone. All holes intersected the mineralized min·er·al·ize v. min·er·al·ized, min·er·al·iz·ing, min·er·al·iz·es v.tr. 1. To convert to a mineral substance; petrify. 2. To transform a metal into a mineral by oxidation. 3. zone with true mineralized width from 46 to 101 feet. A tenth hole intersected the Main Zone with a true mineralized width of 65 feet at a vertical depth of 800 metres. The holes are designed to provide assay and structural information along strike from earlier holes and to fill in areas untested by earlier drilling above -1300 foot level and to confirm the existence of the zone at depth. This information will be used to locate a series of deeper holes planned for the immediate future, dependent upon funding. Three of the above holes were extended to intersect In a relational database, to match two files and produce a third file with records that are common in both. For example, intersecting an American file and a programmer file would yield American programmers. a newly discovered parallel zone (North Zone) situated approximately 150 metres north of the Main Zone. The zone had an average true mineralized width of 62 metres. Additional testing of this zone is planned in the next program. Five additional holes were completed on the eastern extension of the Main Zone horizon. Three of these intersected the host horizon with true mineralized widths from 5 to 59 feet. The zone is highly anomalous a·nom·a·lous adj. 1. Deviating from the normal or common order, form, or rule. 2. Equivocal, as in classification or nature. in gold, typical of the upper portion of the Main Zone. Several deeper holes are planned in the next phase, dependent upon funding. Further information including detailed assay data will be made available at the end of the current phase when completed, in accordance with the Corporation's disclosure policy. The Corporation will hold its Annual Meeting at the Westin Hotel on June 28, 1996, and intends to have its geologist at the Annual Meeting to answer questions on the program and discuss results to date. -0- NOTE TO EDITORS: The Alberta Stock Exchange has neither approved nor disapproved the information contained herein. CONTACT: Champion Bear Resources Ltd. Richard Kantor, 403/229-9522 |
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