Golden Predator Names Chief Operating Officer to Advance Brewery Creek Mine
September 23 2019 - 8:00AM
Golden Predator Mining Corp. (TSX.V:GPY,
OTCQX:NTGSF) (the “
Company” or
“
Golden Predator”) is pleased to announce Mr.
Michael (Mike) Maslowski will rejoin the Company as Chief Operating
Officer charged with advancing the Brewery Creek Mine, located near
Dawson City in Canada’s Yukon, through development into production.
Mike previously served as Chief Operating Officer of Golden
Predator from 2011 to 2014 and his familiarity with the project
will enable the fully licensed Brewery Creek to advance quickly
into construction in 2020.
Mr. Maslowski will coordinate and manage all the
Company's construction, mine development and operational activities
at the Brewery Creek Mine. In addition, he will oversee the
continuing expansion of the project through aggressive mine site
exploration, environmental studies, permitting and future
development. He will assume the position of Chief Operating
Officer effective December 1, 2019 upon the completion of his
existing work commitments.
"Mike’s appointment is a major milestone for
Golden Predator as we move towards production at our Brewery Creek
Mine," said Janet Lee-Sheriff, Chief Executive Officer. "I look
forward to working closely with Mike as we continue to build our
strong team of mining professionals.”
Michael Maslowski, Chief Operating
Officer
Mr. Maslowski is a geological engineer with a
career in the mineral resource industry spanning more than 35 years
in exploration, engineering, underground and open pit mining design
and operation in the Americas and East Africa. Mr. Maslowski
previously worked with Golden Predator from 2011 to 2014 as Vice
President of Exploration and then Chief Operating Officer,
expanding the Brewery Creek resource more than 5 fold in 3 years
and directing the Brewery Creek Preliminary Economic Assessment
Study. Since 2017 he has been the Technical Services
Superintendent for Teck Washington Inc. at their Pend Oreille mine
in NE Washington State, an underground lead-zinc mine. Prior
to 2011, he was with Coeur d’Alene Mines for ten years in numerous
positions including Director of Exploration and Assistant General
Manager of the Palmarejo Mine in Mexico. He was the team leader for
the discovery of the Diamond Hill Mine for Pegasus Gold then was
responsible for advancing the mine into production. Mike is a
member of the Society for Mining, Metallurgy and Exploration (SME)
and the American Institute of Professional Geologists. He
holds a B. S. in Geological Engineering from the Colorado School of
Mines and is a Certified Professional Geologist (CPG) with the
American Institute of Professional Geologists (AIPG) and a
Qualified Person (QP) as defined by National Instrument 43-101.
Brewery Creek Mine, Yukon
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 as defined in their Quartz Mining License
and Water License. The Company intends to resume mining and
processing of licensed deposits 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 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 Company conducted exploration drilling on
the Brewery Creek project from 2010 to 2013 and increased the
resource 5 fold and completed a Preliminary Economic Assessment
(PEA) resource estimate 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 current production
licenses). 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 Company has a Socio Economic Accord with
Tr’ondëk Hwëch’in for the Brewery Creek Mine 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 located
55 km by road from Dawson City, Yukon and operates with a Socio
Economic Accord with the Tr’ondëk Hwëch’in First Nation.
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-Sheriff
Chief Executive
Officer
Golden 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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