Champion Bear Resources Ltd.
TSX VENTURE : CBA

Champion Bear Resources Ltd.

May 05, 2009 16:27 ET

Champion Bear Intersects 2.19 G/T AU+PT+PD Over 5.0 Metres at Eagle Rock; Completes Additional Staking

CALGARY, ALBERTA--(Marketwire - May 5, 2009) - Champion Bear Resources Ltd. (TSX VENTURE:CBA) ("Champion Bear" or the "Company") is pleased to announce additional assay results from drilling on its 100% owned Eagle Rock Cu-Au-Pt-Pd property located 70 kilometres south of Dryden, northwestern Ontario.

HIGHLIGHTS

Nine diamond drill holes totaling 2,501 metres were completed on the Campbell Zone where drilling continued to extend the sulphide zone to the northwest. Drill hole intercepts include:

ER09-19 intersected 13.0 metres grading 1.70 g/t Au+Pt+Pd and 0.87% Cu+Ni

Including 5.0 metres grading 2.19 g/t Au+Pt+Pd and 0.92% Cu+Ni

ER09-14 intersected 15.0 metres grading 1.28 g/t Au+Pt+Pd and 0.70% Cu+Ni

ER09-21 intersected 34.0 metres grading 1.30 g/t Au+Pt+Pd and 0.55% Cu+Ni

Including 12.0 metres grading 1.77 g/t Au+Pt+Pd and 0.69% Cu+Ni

Richard Kantor, President of Champion Bear stated "We are very pleased with the successful results of the phase II drill program, particularly hole ER09-19. This is a very encouraging result and the horizon remains open along strike to the northwest and once again demonstrates the robust continuity of the Campbell Zone. We believe the Campbell Zone and host Entwine Intrusive Complex has very good exploration potential and we have recently staked claims covering a large portion of Entwine. The plan is to fly a high-resolution airborne magnetic survey and complete a rigorous summer field program with the aim to locate new targets in anticipation of further drilling. And, of course, there is phase III drilling to be completed at Campbell, so overall we strongly believe in the exploration potential of the Eagle Rock property where drilling continues to extend the mineralization at Campbell. We will also investigate the other sulphide showings along the Campbell Zone trend as well as evaluate the blue-sky potential on the newly staked claims."

PHASE II 2009 DRILLING

In February 2009, the Company completed a nine hole, 2,501 metre drill program at the Campbell Zone on the Eagle Rock property. This news release describes the results of the phase II program. Drilling was designed to evaluate the nature and extent of the Cu-Au-Pt-Pd sulphide mineralization that characterizes the Campbell Zone. Specifically, six holes tested the strike extension of the Zone to the northwest and three holes followed-up successful results from the phase I drilling conducted in November 2008 (see news releases dated November 6, 2008 and January 5, 2009).



Table 1 summarizes the results of the phase II drill program at the Campbell
Zone:

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Hole From To Interval Au+Pt+Pd Cu+Ni Au Pt Pd Ni Cu
No. (m) (m) (m) g/t % ppb ppb ppb ppm ppm
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ER09-14 145.00 176.00 31.00 1.08 0.56 248 291 538 717 4874
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incl. 149.00 164.00 15.00 1.28 0.70 292 346 642 926 6029
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ER09-15 205.00 215.00 10.00 1.14 0.60 228 324 587 672 5368
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ER09-16 97.00 119.90 22.90 0.54 0.31 117 147 276 417 2707
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ER09-17 115.55 125.00 9.45 0.58 0.35 136 161 278 466 3080
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ER09-18 126.10 129.10 3.00 0.48 0.35 125 121 232 498 2960
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ER09-19 163.10 176.10 13.00 1.70 0.87 378 506 819 1185 7478
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incl. 164.10 169.10 5.00 2.19 0.92 498 680 1016 1148 8024
----------------------------------------------------------------------------
65.00 73.00 8.00 0.72 0.42 162 214 346 505 3685
--------------------------------------------------------------------
ER09-20 129.00 147.00 18.00 0.49 0.24 101 142 251 359 2073
----------------------------------------------------------------------------
ER09-21 74.00 108.00 34.00 1.30 0.55 261 386 652 771 4730
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incl. 95.00 107.00 12.00 1.77 0.69 362 535 869 769 6128
----------------------------------------------------------------------------
234.70 240.00 5.30 0.73 0.45 176 186 367 538 3976
--------------------------------------------------------------------
ER09-22 281.00 289.00 8.00 1.32 0.57 292 372 653 716 4946
----------------------------------------------------------------------------


Hole ER09-19, testing the strike extension of the Campbell Zone on line 300W intersected the highest grade interval of the program and one of the best grade intervals thus far drilled on the property. The high grade interval assayed 2.19 g/t Au+Pt+Pd and 0.92% Cu+Ni over 5.0 metres and is hosted within a 13.0 metre zone grading 1.70 g/t Au+Pt+Pd and 0.69% Cu+Ni. The zone remains open to the northwest.

Hole ER09-14, a step-out hole on line 150W intersected a 15.0 metre section of the Campbell Zone grading 1.28 g/t Au+Pt+Pd and 0.56 % Cu+Ni contained within a broad 31.0 metre mineralized zone. ER09-15 was drilled 100m down-dip of ER09-14 and intersected 10.0 metres grading 1.14 g/t Au+Pt+Pd and 0.60 % Cu+Ni demonstrating the continuous and consistent nature of the zone that can be effectively tested with broad step-out holes.

On line 050W, 2 holes successfully followed-up positive results from the phase I completed in late 2008. Hole ER09-21 in-filled a gap in the drilling and intersected a good grade interval over 12.0 metres that returned 1.77 g/t Au+Pt+Pd and 0.69 % Cu+Ni within a mineralized section grading 1.30 g/t Au+Pt+Pd and 0.55 % Cu+Ni over 34.0 metres. On the same section, ER09-22 extended the Zone down-dip and encountered 2 mineralized intervals one of which graded 1.32 g/t Au+Pt+Pd and 0.57 % Cu+Ni over 8.0 metres.

THE CAMPBELL ZONE TREND

The Campbell Zone lies at the north end of an 11 kilometre long trend defined by the occurrence of several sulphide showings and a magnetic high signature. This favourable horizon has received only minimal past exploration efforts and, outside of the Campbell Zone, has only been tested with one drill hole. The Company plans a summer field program of sampling, prospecting, and geological mapping to better define the nature and extent of the zone and determine the prospects for better and high grade Cu-Au-Pt-Pd material and generating targets for drill testing.

STAKING

The Company has completed additional staking covering approximately 8000 hectares effectively tripling its property size at Eagle Rock. The new staking covers a 20 kilometre long portion of the Entwine Intrusive Complex that hosts the Campbell Zone as well as several other sulphide showings along the 11 kilometre long Campbell Zone trend. The Entwine Intrusive is defined by a distinct magnetic high signature due in part to the presence of ultramafics and gabbroic rocks as well as monzonite rocks that host the sulphide mineralization at the Campbell Zone. The new property covers a portion of Entwine that has had very little previous exploration activity and remains essentially unexplored. The Company plans to conduct a summer field program of sampling, prospecting, and mapping as well as to complete a High-Resolution Airbourne Magnetics (HRAM) survey. The HRAM survey will provide valuable data to best define the location and extent of the favourable rocks potentially hosting new sulphide occurrences.

PHASE II 2009 DRILL HOLE DATA




Table 2 summarizes the phase II 2009 drill hole data:

----------------------------------------------------------------------------
Final
Hole Grid Grid Depth
No. Easting(i) Northing(i) Easting Northing (metres) Dip Azimuth
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ER09-14 524887 5450786 166 W 190 S 264.0 -50 042
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ER09-15 524887 5450786 166 W 190 S 324.0 -80 042
----------------------------------------------------------------------------
ER09-16 524847 5450854 175 W 170 S 244.7 -50 045
----------------------------------------------------------------------------
ER09-17 524847 5450854 175 W 170 S 276.0 -75 045
----------------------------------------------------------------------------
ER09-18 524755 5450864 300 W 225 S 249.0 -50 052
----------------------------------------------------------------------------
ER09-19 524755 5450864 300 W 225 S 300.0 -70 052
----------------------------------------------------------------------------
ER09-20 524999 5450810 100 W 100 S 201.0 -65 045
----------------------------------------------------------------------------
ER09-21 525035 5450777 50 W 96 S 216.0 -60 044
----------------------------------------------------------------------------
ER09-22 524935 5450662 50 W 250 S 426.0 -60 053
----------------------------------------------------------------------------
(i) UTM NAD83, Zone 15 TOTAL: 2501 metres
---------------------


QUALITY CONTROL

The quality control, technical information and all aspects of the diamond drill program were supervised by Rob Foy, P. Geo., a qualified person, of Foy Geological Services, Champion Bear's consulting geologist. Diamond drill core was logged, marked for sampling and saw cut at the Company's facility near Dryden, Ontario. Half the core was sealed in new plastic sample bags while the remaining half core was retained and securely stored for future reference. Plastic sample bags were then sealed in rice bags, and shipped directly by Courtesy Freight Ltd. to Activation Laboratories in Thunder Bay, Ontario for preparation and analysis which was conducted in Ancastor, Ontario. Gold, Platinum, and Palladium analyses were assayed by Fire Assay-MS technique, Cu and Ni and remaining elements were analysed with TD-ICP package. Full descriptions of these analytical techniques and procedures, may be examined on the Activation's web site www.actlabsint.com. The laboratory carries out a comprehensive internal quality control program including certified calibration standards, duplicate analyses, and insertion of blanks. Full assay certificates are available from the Company on request.

About Champion Bear

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 24,000 hectares.

This news release contains forward-looking statements concerning the timing and composition of the surveying, sampling, prospecting, mapping, drilling and exploration 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 expressly required by applicable securities laws.

To view images of the Eagle Rock property that accompany this release, please click the link below:

http://media3.marketwire.com/docs/Eagle_Rock.pdf

The TSX Venture Exchange has not reviewed and does not accept 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)
    Website: www.championbear.com