Champion Bear Resources Ltd.

Champion Bear Resources Ltd.

February 15, 2011 11:34 ET

Champion Bear Resources Ltd.: EM Survey Commences on Hess Offset Dike Property, Sudbury

CALGARY, ALBERTA--(Marketwire - Feb. 15, 2011) - Champion Bear Resources Limited (TSX VENTURE:CBA) ("Champion Bear" or the "Company") is pleased to report that a deep-penetrating electro-magnetic (EM) survey has been initiated on the 50% owned Hess Offset Dike joint venture property near Sudbury, Ontario. The EM survey is a direct detection geophysical tool designed to identify specific targets for drill testing in this highly prospective and underexplored massive sulphide environment. As previously reported by joint venture partner and project operator Wallbridge Mining (see press release January 20, 2011), summer field work, including geological mapping and prospecting, has been very successful at delineating the extent of the Hess Offset Dike, and has discovered additional dike material representing new target areas on the property.

The Hess property comprises 2,448 hectares and is located in the north range footwall of the Sudbury Mining Camp. The property covers an important 14 kilometre strike of the Hess Offset Dike, hosts sulphide showings and adjoins a near surface sulphide zone held by Vale where historic drilling intersected 1.27% nickel, 1.07% copper, and 2.34g/t platinum, palladium, and gold over 7.25 metres. Champion Bear's 100% owned Iron Mask property lies directly on strike of the Hess Offset Dike. In the Sudbury Mining Camp, offset dikes are attractive exploration targets as they host many of the major mines and ore deposits including several recent high grade discoveries such as, for example, the Victoria property by Quadra FNX.

The 70 line kilometre deep-penetrating geophysical EM survey is being conducted by Abitibi Geophysics employing their new InfiniTEM II system designed to effectively detect buried sulphide bodies. The survey will encompass the entire 14 kilometre extent of the Hess Offset Dike and include the known sulphide showings as well the area where the new dike material was discovered, and an area where weak airborne conductive responses occur in proximity to the Dike. No previous ground EM surveys have been conducted on the property. The survey is scheduled to be completed by mid-March and results will be immediately analysed in anticipation of drilling. 

Richard Kantor, President of Champion Bear reported: "This is an exciting stage of the work program for us. The successful summer field programs completed by Wallbridge staff have given us confidence to employ this high-power survey which is the first ever ground EM survey conducted on the property. The survey will effectively test this large, highly prospective offset dike for Sudbury footwall-type sulphides and directly and effectively detect sulphide bodies for drill testing." 

The Qualified Person responsible for the technical content of this press release is Rob Foy, P. Geo., a qualified person as defined by National Instrument 43-101, of Foy Geological Services, Champion Bear's consulting geologist.

About Champion Bear

Champion Bear is a mineral exploration company focused exclusively on the historically prospective regions of Ontario. Champion Bear'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.

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