Idaho Champion Gold acquires private surface and mineral rights at Champagne Project

Idaho Champion Gold Mines Canada Inc (CSE:ITKO) (OTCMKTS:GLDRF) (FRA:1QB1) said it has signed a binding property lease and option agreement with a private family to lease, with an option to acquire, 100% interest in new surface and mineral rights on properties within its Champagne gold project in Idaho in the US.  The properties include four parcels of private ground totalling 240 acres. The parcels are located adjacent to the federal mining claims already controlled by Idaho Champion. The Ranch is located northwest of the past-producing pits and will be instrumental in the company’s 2021 drilling program and ongoing exploration of the large induced polarisation (IP) anomaly on the project.  WATCH: Idaho Champion Gold Mines begins IP study on Champagne gold in preparation for July drilling "The surface and mineral rights to the Champagne Summit Ranch will have an immediate impact on the Champagne project,” president and CEO Jonathan Buick said in a statement. “Not only does part of the IP anomaly extend onto this ground, but the new property will also improve our access and infrastructure in the area at a very low cost. Given the rights associated with privately-held surface and mineral rights in the state, Idaho Champion said it can immediately commence work on the leased ground. Under the terms of the agreement, the parties have agreed to a five-year term of the lease, during which Idaho Champion will pay the lessor US$240,000 and 500,000 common shares in staggered payments. As long as it maintains its option to lease the Ranch, Idaho Champion has also agreed to pay the annual property taxes on behalf of the lessor. Upon full execution of the agreement, Idaho Champion will hold 100% fee simple interest in the Ranch and its mineral rights. Idaho Champion is a discovery-focused gold exploration company that is committed to advancing its 100%-owned highly prospective mineral properties located in Idaho, US. The Champagne deposit contains epigenetic style gold and silver mineralization that occurs in strongly altered tertiary volcanic tuffs and flows of acid to intermediate composition. The property has had no deep drilling or significant modern exploration since the mine closure in early 1992. Contact the author at stephen.gunnion@proactiveinvestors.com