Idaho Champion Gold (CSE: ITKO) or GLDRF in the U.S. is the 100% owner of the Champagne gold project in Idaho, which now encompasses approximately 10 square miles of exploration ground. It includes the past producing open pit project of Bema Gold, where Bema produced approximately 25,000 oz of gold per year from 1989-1992. Bema was acquired by Kinross Gold (KGC) in 2006 for $3.1 billion and ITKO recently acquired the historical drilling data for Champagne from KGC.
Using the current gold/silver ratio of 78.2, the historical drilling data for Champagne's past producing open pit includes: drill hole LC8871 intercepting 15.08 g/t gold equivalent over 10.6m beginning 4.6m below surface for 159.82 grammeters of gold equivalent, drill hole LC8609 intercepting 2.11 g/t gold equivalent over 71.6m beginning 7.6m below surface for 150.81 grammeters of gold equivalent, drill hole LC8854 intercepting 1.99 g/t gold equivalent over 41.1m beginning 10.7m below surface for 81.70 grammeters of gold equivalent, drill hole LC8879 intercepting 4.87 g/t gold equivalent over 15.2m beginning at surface for 74.09 grammeters of gold equivalent, drill hole LC8614 intercepting 2.53 g/t gold equivalent over 27.4m beginning at surface for 69.44 grammeters of gold equivalent, drill hole LC8862 intercepting 1.15 g/t gold equivalent over 53.4m beginning at surface for 61.65 grammeters of gold equivalent, and drill hole LC8618 intercepting 2.07 g/t gold equivalent over 27.5m beginning 41.1m below surface for 56.91 grammeters of gold equivalent. Outside of the past producing open pit, drill hole LC8620 intercepted 2.95 g/t gold equivalent over 44.2m beginning 36.58m below surface for 130.51 grammeters of gold equivalent. Considering that all of these intercepts begin at or near the surface, these are all high grade gold intercepts.
All historical drill holes at Champagne were shallow reverse circulation drill holes. The project has never been explored at depth or with diamond drilling. ITKO is currently conducting a 5,000m drilling program at Champagne and has just added a second drilling rig, a diamond drilling rig... making it the first time Champagne has ever been explored with diamond drilling.
ITKO is currently preparing to drill a 500m deep drill hole, which will be the first ever drill hole to explore Champagne at depth!
We are extremely excited about the potential for ITKO to discover a high grade feeder zone at Champagne, which could multiply the resource potential of the project!
In our opinion, ITKO has the most upside potential and least downside risk out of all gold stocks that we follow! ITKO is already fully funded through the end of 2021 after raising over $8 million in a recent private placement at $0.30 per share!
Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. This message is not a solicitation or recommendation to buy, sell, or hold securities. NIA was previously compensated by ITKO a total of USD$30,000 cash for a six-month marketing contract, which has since expired. This message is meant for informational and educational purposes only and does not provide investment advice.