About 3,600 metres will be drilled at the Plomp Farm property of Champion Bear Resources (ASE), 18 km west of Dryden, Ont. The work will test shear-zone gold mineralization.
The company has performed geological and geophysical surveys, having completed about 5,400 metres of drilling on the 602-hectare property since last spring. In the 26 holes drilled to date, the highest-grade intersection is 0.29 oz. gold per ton. The property is a short distance from an all-weather road and about 6 km south of the Trans-Canada Highway.
A private placement of 390,000 flow-through shares has raised $887,500 to finance the exploration work. The company intends to complete the drilling before entering into any negotiations with potential joint-venture partners.
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