TSX:GPD
www.goldenpredator.com
VANCOUVER,
March 15, 2012 /PRNewswire/ -
Golden Predator Corp. (TSX: GPD) (the "Company") is
pleased to announce the results from an additional 14 diamond drill
holes completed in late 2011 from the Bohemian-Schooner Zone at its
flagship Brewery Creek Project located near Dawson City, Yukon. Significant results include:
- BC11-346 with 24.0 m of 1.47 g/t gold from a depth of 56.0 m
including 7.5 m of 3.54 g/t gold; and
- BC11-352 with 28.7 m of 0.96 g/t gold from a depth of 80.8
m.
A complete table of results and location maps can
be found on the Company's website at:
http://www.goldenpredator.com/documents/GPD-NR12-13-Schooner-Final-2011-Results-FINAL.pdf
Bohemian-Schooner Zone Geology
The Bohemian‐Schooner Zone is a strongly mineralized, steeply
dipping structural corridor that strikes east‐northeast. The
corridor intersects a lower‐angle tabular mineralized zone in
strongly altered quartz monzonite sills. The Zone sits
approximately 500 m east of the Lucky deposit, the nearest past
producing area, and is over 1 km in length and is open along strike
to the east and at depth.
Hole BC11-378 intersected sporadic mineralization
up to 1.90 g/t over 5 separate intervals but did not meet the
criteria for listing in the above table. Holes BC11-372, BC11-377,
BC11-379 and BC11-381 did not intercept significant
mineralization.
Brewery Creek Project Update
The Company completed 344 core and RC holes for 55,453 m at Brewery
Creek in 2011. The 2011 drilling was concentrated on
delineating the three 2011 discoveries at the Bohemian-Schooner,
Sleeman and Classic Zones, with significant additional drilling on
the North Slope and the East and West Big Rock Zones.
Current year drilling will concentrate on further
expansion of the Sleeman, Classic and Bohemian- Schooner Zones as
well as exploration of a number of quality targets resulting from
2011 geochemical and geophysical surveys of the Project area.
The Brewery Creek Project is a past producing heap
leach gold mining operation with a total of 278,484 oz Au produced
from seven near-surface oxide deposits along the property's Reserve
Trend from 1996 through 2002, when the mine (operated by Viceroy
Resource Corporation) shut down due to low gold prices. The 200
km2 property is located 55 km due east of Dawson City, accessible by paved and gravel
roads from the junction of the North Klondike and Dempster
Highways. In May 2011 the Company
staked an additional 204 quartz claims east of the historic Brewery
Creek property, increasing the Project to a total of 997 quartz
claims.
The Project is in receipt of all necessary permits
required to conduct additional exploration. The Brewery Creek
Project is authorized under a Type A Water License with an expiry
date of December 31, 2021, subject to
the restrictions and conditions contained in the Yukon Water Act
and Regulations. The Project also has a Mining license with an
expiry date of December 31, 2021. In
addition, a Socio-Economic Accord with Tr'ondek Hwech'in First
Nation with respect to the Brewery Creek Project is in place.
The Company anticipates receiving a NI 43-101
compliant resource estimate, currently underway, in April 2012. The resource estimate will
include all results from the 2011 drill program.
Sampling Methodology, Quality Control and
Assurance
Samples were fire assayed for gold by ALS Chemex and ACME
Laboratories in Vancouver. All
assays are reported as drilled intervals and are not to be
interpreted as true widths. Refer to the Company's news release
dated October 27, 2011 for a complete
discussion of sampling methods, quality control and assurance.
The technical content of this news release has been
reviewed and approved by Michael Maslowski,
BSc, CPG, the Company's Chief Operating Officer and a
Qualified Person as defined by National Instrument 43‐101.
About Golden Predator Corp.
Golden Predator Corp., Yukon's
Gold Company, is mandated to become a mid-tier gold producer.
Golden Predator's road-accessible advanced properties include its
flagship Brewery Creek Project at which the Company is moving
aggressively to a near term production decision, as well as its
Grew Creek and Clear Creek
Projects.
Golden Predator has one of the largest controlled
land positions in the Yukon, with
exploration holdings in excess of 1,000,000 acres, and is committed
to strong relationships with Yukon First Nations and communities.
Golden Predator's management and technical teams continue to lead
aggressive exploration programs in the underexplored regions of the
Yukon, and are driven to bring
value to shareholders and leave a positive legacy.
No stock exchange, securities commission or
other regulatory authority has approved or disapproved the
information contained herein. This press release contains
projections and forward-looking information that involve various
risks and uncertainties regarding future events. Such
forward-looking information can include without limitation
statements based on current expectations involving a number of
risks and uncertainties and are not guarantees of future
performance. There are numerous risks and uncertainties that could
cause actual results and Golden Predator's plans and objectives to
differ materially from those expressed in the forward-looking
information. Actual results and future events could differ
materially from those anticipated in such information. These and
all subsequent written and oral forward-looking information are
based on estimates and opinions of management on the dates they are
made and are expressly qualified in their entirety by this notice.
Except as required by law, Golden Predator assumes no obligation to
update forward-looking information should circumstances or
management's estimates or opinions change.
SOURCE Golden Predator Corp.