(TSX Venture: CBA)
CALGARY, April 16 /CNW/ - Champion Bear Resources Ltd. ("Champion Bear")
announced today that drilling has commenced at its Plomp Farm East gold
property west of Dryden, Ontario. Drilling will initially test a new zone of
anomalous copper and gold mineralization on the Plomp Farm East claims (see
Champion Bear's news release dated September 14, 2006). The drilling will
target geophysical anomalies from the recently completed IP and magnetic
survey, coincident with anomalous surface samples. Other targets include
follow-up testing of previously identified, near surface gold mineralization
west of the main Plomp Farm zone.
Deeper drilling to follow up the higher grade gold encountered during the
Corporation's 2006 exploration program (see Champion Bear's news release dated
April 3, 2006) is expected to commence shortly after the completion of the
shallow drilling and upon availability of the required larger drill. Champion
Bear intends to drill several wedge cuts from existing holes to better define
the nature and extent of the structures hosting the higher-grade
A 4,000 metre drill contract has been signed with Northstar Drilling for
the Plomp Farm drilling.
Technical project supervision is provided by Watts, Griffis and McOuat
Limited. The QP for the technical aspects of this news release is Joe Hinzer,
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. A large land position
has been assembled in the Dryden and Sudbury areas, totaling over 16,000
This news release contains forward-looking statements concerning the
timing and composition of the drilling to be completed on the Plomp Farm
property 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, changes in general
economic, market and business conditions; and competition for, among other
things, drilling equipment and skilled personnel. The company undertakes no
obligation to update or revise any forward-looking statements except as
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.
For further information:
For further information: Richard D. Kantor, Chairman and President of
Champion Bear Resources Ltd., Phone: (403) 229-9522 or Fax: (403) 229-9518.
Champion Bear's website is www.championbear.com.