Golden Predator Installs All-Season Camp at Brewery Creek Mine; Reduces Start Up Costs
December 11 2019 - 8:00AM
Golden Predator Mining Corp. (TSX.V:GPY,
OTCQX:NTGSF) (the “
Company”) is pleased
to announce that the Company has installed its fully owned 49
person all-season camp complete with dorm rooms, an 80 person
industrial kitchen, recreational & mud room, and arctic
corridors. The camp is in excellent condition and currently on site
at the Brewery Creek Mine site located near Dawson City, Yukon.
Importantly, the camp will be added to the current 24 person
camp and maintenance/office facilities and will provide all the
on-site accommodations required for contemplated development and
operational activities at the Brewery Creek Mine.
Golden Predator’s Brewery Creek Mine is located
45 minutes from Dawson City, Yukon and the newly installed camp is
expected to be sufficient for future anticipated exploration,
development and operational activities. The proximity of the
Brewery Creek Mine to the community will allow much of the
workforce to live and work from Dawson City, with anticipated
shuttle service, significantly reducing the personnel required to
be housed in camp.
"The camp is now installed with maintenance work
ongoing through the winter to ensure a fully operational camp for
the spring start up. In addition to realizing significant upfront
capital savings, the camp enables a more aggressive execution
schedule once anticipated construction begins,” said Janet
Lee-Sheriff, Chief Executive Officer. “It was also important for
Golden Predator to provide the opportunity for personnel to live in
Dawson City instead of camp accommodations. We are very fortunate
to be located so close to a fabulous community located in the heart
of the Klondike Gold Rush.”
Brewery Creek Mine: Production History
The Brewery Creek Mine is a licensed brownfields
heap leach gold mine that was operated from 1996 to 2002 and was
placed in Temporary Closure following a collapse of the gold price
below $300 US per troy ounce. Golden Predator’s team commenced work
on the project starting in 2009 and 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.
Brewery Creek Mine:
Resources
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). Most drilling was historically terminated a short depth
below the oxide mineralization, leaving the sulfide potential
largely untested. The PEA is preliminary in nature, it
includes inferred mineral resources that are considered too
speculative geologically to have the economic considerations
applied to them that would enable them to be categorized as mineral
reserves, and there is no certainty that the preliminary economic
assessment will be realized.
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 180 km2 brownfield property located
55 km by road from Dawson City, Yukon. The Company has 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 (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 based on
current expectations that the private placement will complete as
described herein, that the Project will advance through permitting
and feasibility. 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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