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Champion Bear Announces Drilling Results From Eagle Rock Copper-PGE Project

  • Drill Hole ER19-24 intersected 7.5 m of 0.548 g/t Pd, 0.323 g/t Pt, 0.250 g/t Au with 0.40% Cu from 101.0 m to 108.5 m.
  • Drill Hole ER19-25 intersected 10.0 m of 0.645 g/t Pd, 0.398 g/t Pt, 0.325 g/t Au with 0.45% Cu from 75.0 m to 85.0 m. includes three 2 m long intervals with over 0.9 g/t Pd.
  • Drill Hole ER19-28 intersected 34.0 m of 0.465 g/t Pd, 0.281 g/t Pt, 0.201 g/t Au with 0.3% Cu from 97.0 m to 131.0 m. includes four 2 m long intervals with over 0.7 g/t Pd.
  • Drill Hole ER19-29 intersected 56.0 m of 0.488 g/t Pd, 0.272 g/t Pt, 0.188 g/t Au with 0.42% Cu from 46.0 m to 102.0 m. includes six 2 m long intervals with over 0.7 g/t Pd.
  • Drill Hole ER19-30 intersected 8.0 m of 0.511 g/t Pd, 0.306 g/t Pt, 236 g/t Au with 0.42% Cu from 91.0 m to 99.0 m. includes one 2 m long intervals with over 0.8 g/t Pd.
  • 9 new drill holes of which 7 new drill holes had intersections equal to or greater than 0.3 g/t Pd.
  • Total new drilling equal to 1,442 m averaging 160 m per drill hole.
  • The palladium to platinum ratio for most of the intervals range from 1.6:1 to 1.9:1

CALGARY, Alberta, May 28, 2019 (GLOBE NEWSWIRE) -- Champion Bear Resources Ltd. (TSXV:CBA-V) ("Champion Bear" or the "Company") is pleased to announce results from the Q1 2019 Eagle Rock drilling program on its 100% owned project located 60km south of Dryden in NW Ontario.

The results for the 9 NQ diamond drill holes in the Campbell Zone on the Eagle Rock Project are summarized in Table 1 below. The drilling program was designed to collect data predominantly within the top 150 meters of the surface in order to fill historical data gap near surface and complement existing data from 99 drill holes that range as deep as 426m in order to better understand the mineralization distribution.  The 9 holes completed in 2019 are located between existing drill sections of the Campbell Zone and as such do not constitute a material change on the Project.  Table 2 provides details of collar location and hole orientation. A plan view map is attached identifying the Q1 2019 drilling program (Figure 1).

Table 1 – Eagle Rock Copper-PGE Project – Significant Intercepts from 10 Diamond Drill Holes

Hole ID From (m) To (m) Length
(m)
Ni (%) Cu (%) Pt (g/t) Pd (g/t) Au (g/t) Co (%)
ER19-23 86.31 87.15 0.84 0.05 0.30 0.245 0.429 0.178 0.000
ER19-24 101.00 108.50 7.50 0.05 0.40 0.323 0.548 0.250 0.006
Includes 102.91 104.10 1.19 0.09 0.63 0.478 0.847 0.411 0.009
  104.10 105.80 1.70 0.09 0.65 0.511 0.887 0.397 0.001
ER19-24 114.42 119.63 5.21 0.03 0.22 0.157 0.294 0.106 0.006
ER19-25 75.00 85.00 10.00 0.06 0.45 0.398 0.645 0.325 0.006
Includes 77.00 79.00 2.00 0.09 0.59 0.605 0.927 0.498 0.009
  79.00 81.00 2.00 0.10 0.80 0.580 0.951 0.460 0.008
  83.00 85.00 2.00 0.07 0.51 0.600 0.963 0.478 0.007
ER19-26 72.00 74.00 2.00 0.03 0.11 0.083 0.192 0.046 0.005
ER19-27 82.00 98.00 16.00 0.04 0.23 0.130 0.238 0.113 0.005
Includes 92.00 94.00 2.00 0.07 0.46 0.296 0.514 0.241 0.006
ER19-28 97.00 131.00 34.00 0.06 0.34 0.281 0.465 0.201 0.006
Includes 97.00 99.00 2.00 0.04 0.30 0.152 0.258 0.116 0.006
  99.00 101.00 2.00 0.05 0.41 0.181 0.364 0.170 0.006
  101.00 103.00 2.00 0.02 0.15 0.051 0.107 0.068 0.004
  103.00 105.00 2.00 0.03 0.16 0.070 0.109 0.058 0.006
  105.00 107.00 2.00 0.04 0.11 0.017 0.021 0.016 0.006
  107.00 109.00 2.00 0.09 0.39 0.238 0.411 0.149 0.007
  109.00 111.00 2.00 0.08 0.37 0.343 0.602 0.229 0.007
  111.00 113.00 2.00 0.08 0.34 0.410 0.682 0.195 0.007
  113.00 115.00 2.00 0.10 0.56 0.469 0.752 0.356 0.008
  115.00 117.00 2.00 0.09 0.48 0.378 0.653 0.297 0.006
  117.00 119.00 2.00 0.05 0.33 0.314 0.509 0.218 0.005
  119.00 121.00 2.00 0.05 0.38 0.350 0.569 0.249 0.005
  121.00 123.00 2.00 0.06 0.49 0.501 0.791 0.391 0.006
  123.00 125.00 2.00 0.06 0.50 0.485 0.812 0.348 0.006
  125.00 127.00 2.00 0.06 0.49 0.491 0.774 0.315 0.006
  127.00 129.00 2.00 0.02 0.16 0.155 0.223 0.105 0.004
  129.00 131.00 2.00 0.03 0.24 0.170 0.265 0.138 0.004
ER19-28 149.00 157.00 8.00 0.06 0.48 0.287 0.491 0.215 0.006
Includes 149.00 151.00 2.00 0.05 0.48 0.283 0.492 0.211 0.007
  151.00 153.00 2.00 0.04 0.36 0.197 0.356 0.158 0.005
  153.00 155.00 2.00 0.05 0.45 0.253 0.456 0.202 0.006
  155.00 157.00 2.00 0.08 0.61 0.416 0.660 0.289 0.006
ER19-29 46.00 102.00 56.00 0.07 0.42 0.272 0.488 0.188 0.006
Includes 46.00 62.00 16.00 0.06 0.32 0.164 0.291 0.121 0.005
including 46.00 48.00 2.00 0.07 0.34 0.200 0.361 0.151 0.007
  48.00 50.00 2.00 0.05 0.25 0.118 0.214 0.102 0.007
  50.00 52.00 2.00 0.05 0.39 0.199 0.353 0.170 0.007
  52.00 54.00 2.00 0.05 0.29 0.130 0.249 0.113 0.005
  54.00 56.00 2.00 0.06 0.30 0.152 0.259 0.100 0.005
  56.00 58.00 2.00 0.09 0.47 0.215 0.389 0.162 0.006
  58.00 60.00 2.00 0.08 0.45 0.251 0.432 0.153 0.006
  60.00 62.00 2.00 0.08 0.46 0.244 0.424 0.188 0.006
Includes 68.00 98.00 20.00 0.08 0.49 0.340 0.598 0.225 0.006
including 68.00 70.00 2.00 0.06 0.34 0.225 0.416 0.182 0.005
  70.00 72.00 2.00 0.09 0.58 0.459 0.783 0.335 0.007
  72.00 74.00 2.00 0.10 0.60 0.446 0.852 0.317 0.008
  74.00 76.00 2.00 0.08 0.54 0.364 0.673 0.273 0.006
  76.00 78.00 2.00 0.08 0.59 0.378 0.737 0.305 0.007
  78.00 80.00 2.00 0.11 0.76 0.503 0.976 0.397 0.008
  80.00 82.00 2.00 0.07 0.48 0.307 0.530 0.223 0.005
  82.00 84.00 2.00 0.05 0.33 0.206 0.355 0.152 0.004
  84.00 86.00 2.00 0.07 0.42 0.273 0.472 0.188 0.006
  86.00 88.00 2.00 0.08 0.49 0.339 0.588 0.214 0.006
  88.00 90.00 2.00 0.11 0.68 0.451 0.780 0.309 0.008
  90.00 92.00 2.00 0.09 0.60 0.424 0.724 0.292 0.007
  92.00 94.00 2.00 0.07 0.45 0.289 0.500 0.189 0.006
  94.00 96.00 2.00 0.06 0.42 0.300 0.526 0.187 0.005
  96.00 98.00 2.00 0.07 0.29 0.306 0.529 0.100 0.006
ER19-30 91.00 99.00 8.00 0.08 0.42 0.306 0.511 0.236 0.006
Includes 91.00 93.00 2.00 0.06 0.41 0.267 0.482 0.216 0.006
  93.00 95.00 2.00 0.11 0.65 0.496 0.834 0.390 0.007
  95.00 97.00 2.00 0.09 0.41 0.318 0.521 0.242 0.006
  97.00 99.00 2.00 0.04 0.19 0.144 0.208 0.097 0.004
ER19-30 133.00 141.00 8.00 0.05 0.23 0.187 0.304 0.108 0.005
Includes 133.00 135.00 2.00 0.07 0.20 0.203 0.292 0.034 0.007
  135.00 137.00 2.00 0.03 0.13 0.095 0.172 0.085 0.003
  137.00 139.00 2.00 0.04 0.24 0.187 0.305 0.121 0.005
  139.00 141.00 2.00 0.06 0.33 0.262 0.448 0.191 0.005
ER19-31 86.00 90.00 4.00 0.08 0.42 0.172 0.327 0.147 0.005
Includes 86.00 88.00 2.00 0.04 0.29 0.117 0.222 0.099 0.004
  88.00 90.00 2.00 0.12 0.55 0.227 0.431 0.195 0.005

Note: Length in Table 1 represents core length not true thickness in meters.  The geometry of the mineralization would indicate the true thickness to be approximately 70 to 80 percent of the core length.

Table 2 – Eagle Rock Project – Collar Locations for Q1 2019 Diamond Drilling

 
Hole ID
Collar location
(UTM NAD 83)
Collar orientation  
Northing Easting        Dip Azimuth EOH depth (m)
ER19-23 5451045 524573 -68 042 102
ER19-24 5450997 524620 -57 045 141
ER19-25 5450974 524671 -62 045 141
ER19-26 5450954 524710 -57 048 129
ER19-27 5450882 524806 -55 045 170
ER19-28 5450799 524963 -61 045 234
ER19-29 5450853 524971 -63 045 189
ER19-30 5450645 525133 -58 049 153
ER19-31 5450611 525204 -50 045 183

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b7bff8d2-37ab-4310-88da-991443272efd

Sampling consisted of sawing the core in equal halves along the main axis and shipping one of the halves to the Activation Laboratories preparation in Dryden Ontario. The samples are crushed and pulverized before being sent to Activation Laboratories analytical facility in Thunder Bay Ontario for analysis for gold, palladium and platinum by fire assay with ICP finish. All remaining elements were analyzed with an aqua regia digestion and multi-element ICP. Champion Bear uses a comprehensive QA/QC protocol, including the insertion of blanks, standards and pulp duplicates.

Richard Kantor, President of Champion Bear, said the Company was encouraged by these positive results in delineating the mineralization in the Campbell Zone and would be moving forward with further exploration plans to enhance the understanding of the metal distribution on its Eagle Rock properties.

Mr. Todd McCracken, PGeo, Manager-Mining, WSP Canada Inc. is the qualified person ("QP") under the meaning of Canadian National Instrument 43-101 Standards for Disclosure of Mineral Projects, has reviewed and is responsible for the technical content of this news release.

About Champion Bear

Champion Bear is a mineral exploration company focused exclusively on the historically prospective regions of Ontario. The Company's primary targets are platinum group metals, precious metals, and polymetallic base metals deposits. Champion Bear's aim is to create shareholder value through selective property acquisition followed by focused exploration emphasizing drilling. The Company has assembled a large land position in the Dryden and Sudbury areas, totaling over 16,000 hectares. Additional information about Champion Bear can be found on the Company's website at www.championbear.com and on SEDAR at www.sedar.com. For further information, please contact: Richard D. Kantor, Chairman and President of Champion Bear at phone: (403) 229-9522.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:

This news release includes certain "forward-looking statements" under applicable Canadian securities legislation including statements relating to the results delineating the mineralization in the Campbell Zone and moving forward with further exploration plans to enhance the understanding of the metal distribution on the Company's Eagle Rock properties. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. All statements that address future plans, activities, events, or developments that the Company believes, expects or anticipates will or may occur are forward-looking information, including statements regarding the potential development of resources and drilling plans which may or may not occur. Forward-looking statements and information contained herein are based on certain factors and assumptions regarding, among other things, the market price of the Company's securities, metal prices, exchange rates, taxation, the estimation, timing and amount of future exploration and development, capital and operating costs, the availability of financing, the receipt of regulatory approvals, environmental risks, title disputes, failure of plant, equipment or processes to operate as anticipated, accidents, labour disputes, claims and limitations on insurance coverage and other risks of the mining industry, changes in national and local government regulation of mining operations, and regulations and other matters. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.