TORONTO, Nov. 14, 2018 (GLOBE NEWSWIRE) — Idaho Champion Gold Mines Canada Inc. (CSE:ITKO) (“Idaho Champion” or the “Company”), is pleased to report that the Company has a five-man crew in the field, working on 822 federal US mining claims in four blocks (approximately 6,871 hectares) in Lemhi County, Idaho collectively known as the “Champion Projects.” Field work will be comprised of site surveys, ridge & spur soil sampling, rock sampling, and geologic mapping. Results will be reported once received from our assay lab, American Analytical Services, Inc.
Jonathan Buick, President and CEO states, “Having completed our successful drill program at the Baner Gold project we have moved our geologic team to the Champion Cobalt projects to begin a field program that will gather vital information and understanding of the projects that will lead to a more robust program in 2019.”
(See Figure 1 below for an Idaho Cobalt Belt map with individual project locations).
The Company believes that the Idaho Cobalt Belt represents the premier district for primary Cobalt discoveries in North America. The region hosts a rich endowment of mineral resources only beginning to be unlocked due to recent exploration activity driven by the price of Cobalt. Modern exploration techniques have proven fruitful in expanding historic resources and making new discoveries.
The activities that will be carried out on the four projects are summarized as follows:
For project descriptions, please refer to www.idahochamp.com or see press release dated November 7, 2018.
Figure 1 Champion Properties: http://www.globenewswire.com/NewsRoom/AttachmentNg/88750306-64f5-40cb-aeaf-6a5f905295e0
Victory Project – (DUP Claims) 201 claims totaling 1,627 Hectares
Three copper-cobalt occurrences exist on the project; the French Gulch Mine, Victory and Dupuis. These historical prospects will be sampled as well as ridge and spur soil samples collected during the fall 2018 program.
Fairway Project (SC Claims) 144 Claims totaling 1,165 Hectares
Ridge and spur sampling is planned for the Fairway project in the fall 2018 program.
Twin Peaks Project – (TP and Badger Claims) 377 Claims totaling 2,600 Hectares
The Badger Basin and Twin Peaks historical mine will be site surveyed along with ridge and spur soil sampling during fall 2018.
Ulysses Project – (IP and GS Claims) 100 Claims totaling 809.4 Hectares
Site survey along with ridge and spur soil sampling will be completed winter 2018 weather dependent.
ABOUT THE COBALT MARKET
With recent news, out of the Democratic Republic of the Congo and the suspension of sale of cobalt due to high levels of uranium, it is believed that there will be a tightening of cobalt sulphate in the market. As a vital component of many of the lithium-ion batteries used in a wide range of applications from cell phones to electric vehicles (EV), demand for Cobalt is anticipated to remain strong. The state of Idaho provides a safe jurisdiction with strong support from government agencies at the federal, state and county level.
Qualified Person
The technical information in this press release has been reviewed and approved by Peter Karelse P.Geo., a consultant to the Company, who is a Qualified Person as defined by NI 43-101. Mr. Karelse has more than 30 years of experience in exploration and development. Field work in the Idaho Cobalt Belt is supervised by James Baughman PG, SME-R.
ABOUT IDAHO CHAMPION
Idaho Champion is a discovery-focused exploration company that is committed to advancing its 100% owned highly prospective mineral properties located in Idaho, United States. The Company’s shares trade on the Canadian Securities Exchange under the trading symbol “ITKO”. Idaho Champion is vested in Idaho with the Baner Project in Idaho County, the Champagne Project located in Butte County near Arco, ID and the cobalt properties located in Lemhi County. Idaho Champion strives to be a responsible environmental steward, stakeholder and a contributing citizen to the local communities where we operate. Idaho Champion takes our social license seriously and employ local community members and services in our operations.
ON BEHALF OF THE BOARD
“Jonathan Buick”
Jonathan Buick, President and CEO
For further information, please visit the Company’s SEDAR profile at www.sedar.com or the Company’s corporate website at www.idahochamp.com.
For further information please contact:
Nicholas Konkin, Marketing and Communications
Phone: (416) 477 7771 ext. 205
email: [email protected]
THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY ANY SECURITIES IN ANY JURISDICTION, NOR SHALL THERE BE ANY OFFER, SALE, OR SOLICITATION OF SECURITIES IN ANY STATE IN THE UNITED STATES IN WHICH SUCH OFFER, SALE, OR SOLICITATION WOULD BE UNLAWFUL.
Cautionary Statements
This News Release includes certain “forward-looking statements” which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital, operating and reclamation costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
