The Champagne Opportunity
In February 2018, the Company staked 113 mineral claims near Idaho Falls covering approximately 936.3 hectares (2,313 acres) (the “Champagne Project”). The Champagne Project property hosted a producing open pit heap leach mine from 1990 to 1993 operated by BEMA Gold Company (“BEMA”). The Company acquired technical data with respect to the Champagne Project in March 2020 from Kinross Gold Company, (which acquired BEMA), and is in the process of analyzing it. The Company subsequently increased the Champagne Project area by staking 184 additional unpatented federal mining claims surrounding the Champagne Project, acquiring seven unpatented federal mining claims, five patented lode mining claims and one mill site patent (for a total of six patented claims) and entered into an option to lease, with an option to acquire, five additional unpatented claims.
- Past producing oxide gold project. Bema Gold had the property in production from 1990-93 (Heap Leach Gold Mine).
- Historical resource of 2.3M* tons of 1.2 g/t AuEq – used as exploration thesis
- “Blue sky” exploration potential
- Exploration program + Drilling to begin in Q3 2020
- Project data acquired from Kinross in March 2020
- Property package contains 10 square miles with a large number of veins, adits and artisanal pits discovered on the property – great exploration potential
- Plans to explore “Midas” type deposits. Copper mineral assemblage in Moran Tunnel – High sulfidation – Historical drilling points to high grade gold/silver zone.
- Geological setting should respond well to IP Geophysics
- Champion purchased five patented lode mining claims and one patented mill site in April 2020.
- Key Piece: The patented claims include the historically mined open pit.
- Claim area Historical resource* of 2.8 M tons of 1.2 g/t AuEQ that was developed from over 100 RC drill holes and 1500 trench channel samples.
- Exploration program initiated in August 2020.
- Will include up to 5000 meters of Reverse Circulation drilling.