Champion Bear Resources Ltd.

Champion Bear Resources Ltd.

September 13, 2011 09:00 ET

Champion Bear Discovers Campbell Zone Extension and Reports Progress on Sudbury Joint Ventures

CALGARY, ALBERTA--(Marketwire - Sept. 13, 2011) - Champion Bear Resources Ltd. (TSX VENTURE:CBA)("Champion Bear" or the "Company") is pleased to announce results of a successful summer field program at its 100% owned Eagle Rock copper-nickel-platinum-palladium-gold property (the "Property") located in northwestern Ontario. As previously announced (see news release dated July 18th, 2011), Champion Bear has entered into an option agreement with Canadian Platinum Corp. ("CPC") who must complete $4,000,000 in exploration expenditures, make option payments of $500,000, and purchase $500,000 of Champion Bear shares over two years to earn a 50% interest in the property. Please see the July 18th news release for additional terms and details of the agreement. Champion Bear remains the operator of the project.

EAGLE ROCK (Cu – Pt – Pd – Au sulphide) -- 2011 SUMMER FIELD PROGRAM

Champion Bear has completed a successful summer prospecting and sampling program that has resulted in identifying two new sulphide zones that are believed to represent the extension of the Campbell Cu-Ni-Pt-Pd-Au Zone mineralization.

Richard Kantor, President of Champion Bear reported "We are very pleased with the new sulphide zones and the potential for growth of Campbell Zone-style base and precious metals opportunities on the large underexplored Eagle Rock property. Our new partner, Canadian Platinum Corp., has shown great support and continues to value the potential of both expanding and enhancing the advanced-stage Campbell Zone as well as recognizing the opportunity to discover other new, near-surface metal-rich zones. We look forward to advancing the Campbell Zone to the resource estimation stage and expanding the mineralization at the new sulphide zones."

The table shows selected assay results of the 2011 summer field program.

Zone Pt+Pd
+Au g/t
Northwest Campbell Zone 2.06 0.69 0.62 0.07 0.58 1.05 0.43
Northwest Campbell Zone 1.91 0.96 0.87 0.09 0.57 0.86 0.48
Northwest Campbell Zone 1.52 0.65 0.56 0.08 0.46 0.74 0.33
Main Campbell Zone 1.07 0.80 0.72 0.08 0.31 0.53 0.22
Main Campbell Zone 1.30 0.71 0.63 0.07 0.37 0.67 0.26
Main Campbell Zone 1.38 0.58 0.53 0.05 0.37 0.69 0.31
new West Zone 0.95 0.47 0.41 0.05 0.25 0.48 0.22
new West Zone 0.13 0.43 0.38 0.05 0.04 0.05 0.03
new East Lake Zone 0.74 0.29 0.24 0.04 0.23 0.37 0.14
new East Lake Zone 0.44 0.26 0.19 0.07 0.13 0.21 0.10
East Campbell Zone 0.61 0.38 0.32 0.05 0.16 0.30 0.15

West Zone – New

The West Zone lies 700 metres southwest of the Campbell Main Zone and is interpreted to be the offset extension of the Campbell Zone mineralization. Surface sampling results returned values of up to 0.95g/t Pt+Pd+Au and 0.46% Cu+Ni as well as numerous samples grading between 0.4% and 0.5% copper that define a broad zone of surface sulphide mineralization that extends over a strike of more than 300 metres.. The Zone has not been the subject of any previous exploration work since it was first discovered in the 1980's and remains untested by drilling and un-surveyed by ground geophysics. Plans are to immediately expose more surface bedrock to locate additional zones of new sulphide mineralization. This work will be followed by geological mapping, geochemical sampling, line cutting, and ground geophysics as part of a methodical field program designed to generate targets for drilling later this year.

East Lake Occurrence – New

The East Lake occurrence lies two kilometres southeast of the Campbell Zone and is the most eastern of a series of mineralized surface occurrences that define the extension of the Campbell Zone trend in this direction. Several surface samples on both the east and west sides of East Lake returned results with a Campbell-style metal signature of up to 0.73 g/t Pt+Pd+Au and 0.29% Cu+Ni, and 0.44 g/t Pt+Pd+Au and 0.26% Cu+Ni. Another sample that defines the trend grades 0.61g/t Pt+Pd+Au and 0.38% Cu+Ni. Follow-up field work including additional prospecting and geological mapping is planned and is designed to connect the newly recognized sulphide occurrence with the main Campbell Zone located two kilometres to the northwest.

Northwest Campbell Zone

At the Campbell Zone, surface sampling was completed over much of the 1.3 kilometre surface expression of the Zone. Of particular interest were the results received from the northwest portion of the Zone where samples returned the highest grade results of the program including 2.06g/t Pt+Pd+Au and 0.69% Cu+Ni, and 1.91g/t Pt+Pd+Au and 0.96% Cu+Ni. This is the least explored portion of the Campbell Zone and was last worked in 1999 when shallow drilling intersected 1.34g/t Pt+Pd+Au and 0.62% Cu+Ni over 9.6 metres, and 1.33g/t Pt+Pd+Au and 0.53% Cu+Ni over 16.2 metres. This underexplored, higher grade northwest area represents opportunity to expand and enhance the Campbell Zone mineralization. Surface work is planned in anticipation of drilling that will test the Zone from surface to a depth of 200 metres.

The large Eagle Rock Property overlies the Entwine Lake Intrusive complex and hosts numerous sulphide showings including the Campbell copper, nickel, platinum, palladium, gold Zone. The Campbell Zone is a continuous, predictable reef-like horizon exposed at surface for more than one kilometre. Seventy five drill intersects define the Zone which remains open in all directions. Drill intersects include, for example, 5.0 metres grading 2.19 g/t Pt+Pd+Au and 0.92% Ni+Cu, and 12.0 metres grading 1.77 g/t Pt+Pd+Au and 0.69% Ni+Cu. The Zone has excellent open pit potential. Please refer to the company website for addition details including drill sections and drill plan maps.


Richard Kantor, President of Champion Bear stated "The Sudbury projects are very active and progressing well with positive results to date and additional results pending. Champion Bear continues to participate in the Joint Venture activities as we fund our portion of the programs at the Hess and Ermatinger JV's, and continue to benefit from the carried interest to feasibility we enjoy at our Parkin Option."

Parkin Offset Property (Ni – Cu – Pt – Pd – Au sulphide)

At the Parkin Offset Property, Champion Bear's partner and project operator Wallbridge Mining who, along with Impala Platinum of South Africa are earning a 50% interest in the property have reported that 4 holes totaling 1,347 metres of a 5,000 metre drill program have been completed. The drilling is the first part of the current program designed as step-out holes to Wallbridge's Milnet 1500 Zone where drill intersections include 8.00 g/t Pt+Pd+Au, 2.57 % Cu and 0.78 % Ni over 14.24 meters. Of the four holes drilled thus far, only one has intersected any appreciable amount of Quartz Diorite Offset dyke, host of the 1500 Zone mineralization. Drill and borehole geophysical results for the remaining portion of the program remain pending from the project operator.

Hess Joint Venture Property

The Hess JV property, located in the North Range of the Sudbury Mining Camp, overlies a 14 kilometre strike length of the Hess Offset Dyke potential host of Sudbury-type nickel-copper-precious metal-rich sulphide deposits. Field work, first reported in January, consisting of ground electromagnetic ("EM") geophysical survey has been completed. Results as reported to Champion Bear by the project operator indicate that 15 conductive responses have been detected on Grid 1 of the survey. Of importance is a weak four line anomaly that the geophysical contractor has modeled as a weakly conductive 80 metre by 80 metre geophysical plate potentially representing sulphides directly associated with the Hess Offset dyke. Final results for Grid 2 of the survey are pending.

The exploration program will be overseen by Rob Foy, P.Geo., a Company director and the Company's Qualified Person for this press release as defined in National Instrument 43-101.

Champion Bear is a mineral exploration company focused exclusively on the historically prospective regions of Ontario. The Company's primary target is platinum group and precious metals and to a lesser extent polymetallic base metal and pegmatite-hosted tantalum deposits. Champion Bear's aim is to create shareholder value through selective property acquisition and joint venture 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.

This news release contains forward-looking statements concerning plans to locate new mineralization zones, the timing and composition of the exploration and surface work programs to be completed on certain of Champion Bear's mineral properties which are based on Champion Bear's current internal expectations, which may prove to be incorrect. These statements are not a guarantee of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties that are common to junior mineral exploration companies. These risks and uncertainties include, among other things, Champion Bear's need for additional funding to continue its exploration efforts, changes in general economic, market and business conditions; and competition for, among other things, capital and skilled personnel. The Company undertakes no obligation to update or revise any forward-looking statements except as required by applicable securities laws.

No regulatory authority has approved or disapproved the information contained in this news release. Neither the 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.

Contact Information

  • Champion Bear Resources Ltd.
    Richard D. Kantor
    Chairman and President
    (403) 229-9522
    (403) 229-9518 (FAX)