Mr. Richard Kantor reports
CHAMPION BEAR PROVIDES AN UPDATE ON THE PARKIN PROPERTY JOINT VENTURE EXPLORATION PROGRAM
Champion Bear Resources Ltd. is encouraged by the efforts and investments of the partners involved in evaluating the Parkin offset dike where Champion Bear holds a 50-per-cent interest.
Lonmin Canada Inc. currently has a joint venture agreement with Wallbridge Mining whereby it can spend up to $11-million on exploration to earn up to half of Wallbridge's interest in the Parkin properties. This is in addition to the $7.2-million that was spent by Implats on previous exploration programs.
Richard Kantor, the company's president, commented: "Champion Bear acquired the CBA Parkin offset property in 1997 from John Brady, a prospector of renown in the Sudbury area. It is host to the aptly named Brady showing, where surface stripping exposed massive sulphide mineralization which from channel sampling returned 11.2 per cent copper, 0.6 per cent nickel, 9.2 grams per tonne platinum Pt, 4.3 g/t palladium and 1.6 g/t gold over 2.7 metres. Diamond drilling intersected gold values like the Glencore Parkin property (located immediately to the southwest) which included 44.0 g/t Au over 1.4 metres at a depth of 543 metres."
Mr. Kantor further added: "It is very rare for a small exploration company to have a piece of the action in the Sudbury basin, Canada's premier mining community which has been largely controlled by the major mining companies for the past 125 years. With the Sibanye Stillwater acquisition of Lonmin in 2018, I look forward to seeing the results of any exploration the company may carry out on the properties in the near future."
Champion Bear is looking forward to the results of the joint venture exploration program when they become available.
J. Michael Sweeny, PGeo, is the qualified person within the meaning of Canadian National Instrument 43-101 -- Standards for Disclosure of Mineral Projects, has reviewed and is responsible for the technical content of this news release.
About Champion Bear Resources Ltd.
Champion Bear is a mineral exploration company focused exclusively on the historically prospective regions of Ontario. The company's primary targets are platinum group metals, precious metals and polymetallic base metals deposits. Champion Bear's aim is to create shareholder value through selective property acquisition followed by focused exploration emphasizing drilling. The company has assembled a large land position in the Dryden and Sudbury areas, totalling over 16,000 hectares. Additional information about Champion Bear can be found on the company's website and on SEDAR.
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