CALGARY, Alberta, Jan. 21, 2019 (GLOBE NEWSWIRE) -- Champion Bear Resources Ltd. (CBA.V) (“Champion Bear” or the “Company”) announced today that field operations have commenced to drill up to 10 infill diamond drill holes on the Company’s Eagle Rock copper-palladium-nickel-gold-platinum-cobalt project.
As previously reported on October 5th, 2018 following the successful closing of an equity offering, Champion Bear intends to drill up to 1,600 meters in this advanced exploration project to complement the 92 drill holes (approximately 14,000 meters) previously drilled by the Company. Champion Bear has 100% ownership in over 33,000 acres of contiguous claims over the project located 65 kilometers south of Dryden, Ontario.
Todd McCracken, P.Geo. Manager–Mining of WSP Canada Inc. and Jessica Borysenko, P.Geo. of ERS GeoServices, both qualified persons (“QP”) under the meaning of Canadian National Instrument 43-101 Standards for Disclosure of Mineral Projects, will be overseeing the exploration program and have reviewed the 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, totaling over 16,000 hectares. Additional information about Champion Bear can be found on the Company’s website at www.championbear.com and on SEDAR at www.sedar.com.
On Behalf of the Company,
Richard Kantor, Chairman and President
for further information, please contact Champion Bear at +1-403-229-9522 and visit the website at www.championbear.com.
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CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:
This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. All statements that address future plans, activities, events, or developments that the Company believes, expects or anticipates will or may occur are forward-looking information, including statements regarding the realization of the preliminary economic analysis for the Project, expectations of future cash flows, the proposed plant expansion, potential expansion of resources and the generation of further drilling results which may or may not occur. Forward-looking statements and information contained herein are based on certain factors and assumptions regarding, among other things, the market price of the Company’s securities, metal prices, exchange rates, taxation, the estimation, timing and amount of future exploration and development, capital and operating costs, the availability of financing, the receipt of regulatory approvals, environmental risks, title disputes, failure of plant, equipment or processes to operate as anticipated, accidents, labour disputes, claims and limitations on insurance coverage and other risks of the mining industry, changes in national and local government regulation of mining operations, and regulations and other matters. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.