Golden Predator Welcomes Additions to the Brewery Creek Technical Team
August 15 2019 - 2:34PM
Golden Predator Mining Corp. (TSX.V:GPY,
OTCQX:NTGSF) (the “
Company” or
“
Golden Predator”) announced today that Robin
Fraser of Canadian Northern Mining Corp. and James Hesketh of Kalex
LLC. have joined the Golden Predator team as contractors providing
engineering, mining and metallurgical services to the Brewery Creek
Mine in Canada’s Yukon. The Brewery Creek Mine is a fully
licensed past producing gold mine with existing infrastructure and
established resources.
Robin Fraser | Mining &
Metallurgy
Robin Fraser and his team at Canadian Northern
Mining Corp. have completed many mining construction,
operation & maintenance projects worldwide and
provide expert personnel, detailed evaluations and optimization
plans. Joining Golden Predator initially to enhance and
optimize the Company’s bulk sample processing plant, Robin and team
will expand their involvement, working towards the restart of the
Company’s Brewery Creek Mine. Canadian Northern Mining has an
established track record in early design, construction, start up
and day to day operations. They will continue providing processing
plant management, operations, maintenance and laboratory
services for the 3 Aces bulk sampling project.
James Hesketh M.Sc. MMSA |
Engineering
James Hesketh has 35 years experience in open
pit heap leach operations and management. His strong
background in mining finance, mine engineering, development and
operations includes senior positions with Atna Resources Ltd,
Canyon Resources Corporation, NM Rothschild & Sons (Denver)
Inc., Cyprus Amax Minerals Company, Pincock Allen & Holt, Inc.,
and Dresser Industries Inc. He brings previous knowledge of
the operations of the Brewery Creek Mine where he headed up the
economic evaluation of the project for Rothschild’s. One of
the few engineers with actual year round commercial operational
experience in the Yukon, he operated an open pit barite mine and
processing plant in the SE Yukon during the 1980s. He is
qualified to assist with mineral valuation, financial and mining
costing, infrastructure and project management. He holds a B.S. in
Mining Engineering and a M.S. in Mineral Economics, both from the
Colorado School of Mines.
Director Resignation
The Company advises that Dennis Fentie has
resigned, effectively immediately, from the Board of Directors due
to personal reasons. Mr. Fentie has been instrumental in assisting
management secure certainty with its Quartz Mining License and
Water License in addition to providing consistent and sound
strategic advice. Mr. Fentie has provided the Company with
exceptional service since joining the Board in 2015 and we are
immensely thankful for his dedication and service.
Stock Option Grant
The Company has granted 1,175,000 stock options
to directors and officers of the Company. The stock options
are exercisable for a term of three years at an exercise price of
$0.37 per common share. Vesting will occur over a period of
eighteen months, with an initial 25% of the stock options vesting
immediately, followed by an additional 25% of the stock options
every six months thereafter until fully vested.
Brewery Creek Mine, Yukon: Resources and Past
Production
The Brewery Creek Mine is a licensed brownfields
heap leach gold mine that was operated by Viceroy Minerals
Corporation from 1996 to 2002. Brewery Creek was put into Temporary
Closure in 2002 following a collapse of the gold price to below
$300 US per troy ounce. Golden Predator commenced work on the
project starting in 2009. Brewery Creek is now authorized to
restart mining activities that follow the previously assessed and
approved mine plans without further assessment and review as
defined in the Quartz Mining License and Water License. The Company
intends to resume mining and processing of established resources
remaining within the existing licensed and permitted areas while
the Company works with Tr’ondëk Hwëch’in and Yukon Government to
expand the licensed mining area to include new discoveries made
since 2011.
The 180 km2 property is located 55 km due east
of Dawson City and is accessible year round by paved and improved
gravel roads. Significant infrastructure remains in place, allowing
for a timely restart schedule under existing licenses.
The Brewery Creek Mine has a Preliminary
Economic Assessment (PEA) resource estimation including an
Indicated oxide resource of 577,000 troy ounces of gold in 14.2
million tonnes averaging 1.27 g/t gold and an Inferred oxide
resources of 279,000 troy ounces of gold in 9.3 million tonnes
averaging 0.93 g/t gold (includes resource areas located within and
outside of production licenses as shown on map). In addition, the
resource estimate contains Indicated sulfide resources of 142,000
troy ounces of gold in 3.5 million tonnes at 1.28 g/t gold and
Inferred sulfide resources totaling 546,000 troy ounces of gold in
12.4 million tonnes at 1.37 g/t gold (1), although most drilling
was historically terminated a short depth below the oxide
mineralization, leaving sulfide potential largely untested.
The Brewery Creek Mine holds a Socio Economic
Accord with Tr’ondëk Hwëch’in and is licensed to resume mining
activities under the current Water License and Quartz Mining
Licenses. The project also has a Class IV Mining Land Use Permit to
conduct additional exploration.
The technical content of this news release has
been reviewed and approved by Jeff Cary, CPG, a Qualified Person as
defined by National Instrument 43-101 and an employee of the
Company.
Golden Predator Mining
Corp.
Golden Predator is advancing the past-producing
Brewery Creek Mine towards a timely resumption of mining
activities, under its valid Quartz Mining and Water Licenses, in
Canada’s Yukon. With established resources grading over 1.0 g/t
Gold and low capex to production in a safe first world
jurisdiction, Brewery Creek has a clear path to production as an
economically and environmentally known project. Optimization
studies are progressing to enhance the already positive multi-phase
project economics described in the 2014 Preliminary Economic
Assessment. Drilling continues to expand the open-ended resources
and untested targets across the 186 km2 brownfield property.
At the 3 Aces project, Golden Predator continues
to expand on discoveries of native gold in quartz veins while
ongoing bulk sampling and processing at the 50 tpd Company-owned
processing plant has demonstrated gold recoveries of over 85% using
a chemical-free process. This green gold provides the gold for the
mintage of .9999 gold coins from the Yukon Mint™, a wholly owned
subsidiary of Golden Predator.
For additional information: Janet
Lee-SheriffChief Executive
OfficerGolden Predator Mining Corp. (604)
260-8435 info@goldenpredator.com www.goldenpredator.com
(1) NI 43-101 Technical Report
"Preliminary Economic Assessment for the Brewery Creek Property
Yukon Territory, Canada" Release Date of November 19,
2014.(2) Brewery Creek Technical Report, Richard Diment, PGeo
May 18, 2003
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release. No stock exchange, securities commission
or other regulatory authority has approved or disapproved the
information contained herein. This press release contains
forward-looking information that involve various risks and
uncertainties regarding future events. Such forward-looking
information can include without limitation statements express or
implied regarding completion of the transactions described herein,
the upcoming season at 3 Aces project, and projected grades
and gold and silver recoveries from the 2018 and proposed 2019 bulk
sample program, 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, the Company assumes no obligation to
update forward-looking information should circumstances or
management's estimates or opinions change.
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