The Powderhorn and Gullbridge projects are located in central Newfoundland, a prolific geological region with a large number of world-class mines including the Buchans and Gullbridge mines.

In the summer of 2017, Champion Iron drilled 8 holes on the Powderhorn/Gullbridge property. Five of the holes targeted gravimetric anomalies in the Powderhorn area and, as of September 2017, borehole EM survey is being completed. Two holes targeted the Gullbridge Main – Southwest Shaft trend at greater depth than historical drilling. Finally, an eighth hole was drilled to validate the depth of the volcanic package in the center of the property.

Final results and interpretations are pending.