Champion Bear Commences Exploration Work on Sudbury Area Properties
12.03.2012 | Marketwire
CALGARY, ALBERTA -- (Marketwire - March 12, 2012) - Champion Bear Resources Ltd. ("Champion Bear" or the "Company") (TSX VENTURE:CBA) is pleased to announce the commencement of the 2012 exploration programs on the Company's nickel-copper-platinum-palladium-gold properties (the "Properties") located in the Sudbury Mining Camp, northeastern Ontario. Drilling has commenced on the Hess property and field work is scheduled for the Iron Mask and Ermatinger properties. The three properties form a contiguous 35 kilometre long package located in the north range footwall of the Sudbury Structure and cover several kilometres of under-explored Offset Dyke, a Sudbury rock-type known to host several of the large nickel-copper-precious metal mines in the Sudbury Camp.At the Hess Property, a budgeted 550 metre drill program has been initiated and targets several untested electro-magnetic ("EM") conductors. The conductors form an 800 metre long trend coincidental with the trend of the Hess Offset dyke which hosts several near surface nickel-copper-platinum-palladium sulphide showings. The property is a 50:50 joint venture with Wallbridge Mining Company Limited.
The Company's 100% held Iron Mask property, lies immediately on strike of the Hess drilling and remains virtually unexplored for the highly prospective Offset Dyke material. Field work is planned at Iron Mask and is designed to develop Offset Dyke targets for drill testing. At the Ermatinger property, a 50:50 joint venture with Wallbridge Mining, field work will continue to define a new Offset Dyke trend identified by previous ground work.
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
Champion Bear Resources Ltd.
Richard D. Kantor, Chairman and President
(403) 229-9522
(403) 229-9518 (FAX)
www.championbear.com