Golden Predator Mining Corp. (TSX.V:GPY,
OTCQX:NTGSF) (the “
Company”) continues to
report additional positive drill results from its 2019 drill
program at its 100% owned and licensed Brewery Creek Mine project
located 45 minutes from Dawson City, Yukon. Step-out and
in-fill drill holes at the Kokanee and Golden Zones along Brewery
Creek’s prolific Reserve Trend have established dip continuity of
gold mineralization extending below both the Kokanee and Golden
Zones and discovered a deeper, previously un-tested structure below
the historical drilling in both zones.
Golden Predator CEO Janet Lee-Sheriff noted, “It
is clear from our drilling and geological interpretation that
Brewery Creek hosts larger, more continuous zones of mineralization
than previously believed. Of 18 holes drilled into the
Kokanee and Golden Zones, 16 encountered significant gold grades.
These new results build on previous drill data confirming resource
continuity along strike and resource growth potential down dip as
the separate oxide resources now merge into a single larger area of
gold mineralization. This new data supports our geological
re-interpretation of Brewery Creek which enhances the project’s
overall potential.”
Highlights of the
Kokanee/Golden Zone 2019 drill program include the following
intercepts:
- 15.2 m of 4.6 g/t Gold from a depth of 65.5 m in in-fill drill
hole RC19-2561
- 30.5 m of 1.25 g/t Gold from a depth of 53.3 m in in-fill drill
hole RC19-2562
- 10.7 m of 3.0 g/t Gold from a depth of 115.8 m in step-out
drill hole RC19-2599
- 19.8 m of 1.28 g/t Gold from a depth of 9.1 m in step-out drill
hole RC19-2651
The RC19-2599 interval is entirely outside of
the current resource model and the RC19-2651 intercept extends
mineralization below the current resource model. RC19-2561 and
RC19-2562 are within the current resource model and remain open at
depth.
Results from a further 89 reverse circulation
holes drilled in 2019 are being finalized and will be released when
available.
To view Brewery Creek maps:
http://www.goldenpredator.com/_resources/news/NR-Maps-Kokanee-Golden.pdf
2019 Brewery Creek
Exploration Program
The 2019 Brewery Creek drill program focused on
extending mineralized structures along the Reserve Trend in areas
with little historic drilling. Mineralized structural trends were
also extended down dip from previously mined zones. A total of
15,623 m of drilling was completed in 137 drill holes into five
separate zones including the Camp, Fosters, Kokanee, Golden and
Lucky. With this release, results from 48 drill holes have now been
announced. The Fosters and Golden drilling successfully targeted an
additional 1,000 m of strike length between them on mineralized
structures with potential for near-surface, oxide
mineralization. The holes released today confirm additional
down dip potential including the discovery of an entirely new zone
beneath previous drilling. Gold mineralization in the Reserve Trend
is hosted in mid-Cretaceous age monzonitic intrusions over a +9 km
strike length in the project area. The intrusive rocks were
emplaced into the regionally extensive mid-Mesozoic Robert Service
Thrust Fault.
2019 Significant Results from Kokanee and Golden
Zones
The 18 drill holes reported in this release
totaled 2,033 m drilled. Significant intercepts in the lower
section of drill holes RC19-2561 and RC19-2562 (in the Kokanee
Zone) and RC19-2599 and RC19-2652 (in the Golden Zone) discovered
mineralization beneath the historical drilling which had not been
previously identified. Development drilling in 2020 is planned to
continue to target these deeper, newly defined zones at Kokanee and
Golden. Gold mineralization in the Kokanee and Golden resource
areas is localized in two sub-parallel zones developed near the
upper and lower contact of a monzonitic intrusive
complex.
Sixteen of the 18 drill holes encountered
significant gold grades with a high of 11.2 g/t Gold
over 1.5 m in drill hole RC19-2561. Highlighted
drill intercepts include 6.2 g/t Gold over 4.6 m
from 70.1m depth in drill hole RC19-2558, 4.6g/t Gold over
15.2 m from a depth of 65.5 m in drill hole RC19-2561,
1.25 g/t Au over 30.5 m from a depth of 53.3 m in
drill hole RC19-2562, 3.0 g/t Au over 10.7m from a
depth of 115.8 m in drill hole RC19-2599 and 1.28 g/t Gold
over 19.8 m from a depth of 9.1 m in drill hole
RC19-2651.
Mineralization encountered in the 2019 drilling
for both the Kokanee and Golden Zones remains open at depth and
additional development drilling is planned with the aim of
increasing oxide gold resources. Future drilling will also
target an extension of the Fosters resource area through to the
Kokanee and Golden resources areas over a strike length of 1.9 km.
The current data indicates that gold mineralization is likely
to model continuously between the three resource areas.
Drill Hole |
|
|
|
|
|
|
Zone |
From (m) |
To (m) |
Thickness (m) |
Gold g/t |
RC19-2558 |
Kokanee |
70.10 |
74.68 |
4.58 |
6.18 |
|
|
85.34 |
89.15 |
3.81 |
0.35 |
|
|
|
|
|
|
RC19-2559 |
Kokanee |
64.01 |
67.06 |
3.05 |
1.97 |
|
|
72.54 |
77.72 |
5.18 |
0.47 |
|
|
99.06 |
102.11 |
3.05 |
0.45 |
|
|
|
|
|
|
RC19-2560 |
Kokanee |
9.14 |
10.67 |
1.53 |
0.30 |
|
|
82.30 |
83.82 |
1.52 |
0.57 |
|
|
114.30 |
117.35 |
3.05 |
0.75 |
|
|
121.92 |
123.44 |
1.52 |
0.58 |
|
|
|
|
|
|
RC19-2561 |
Kokanee |
1.52 |
13.72 |
12.2 |
0.81 |
|
|
41.15 |
47.24 |
6.09 |
0.39 |
|
|
51.82 |
59.44 |
7.62 |
0.58 |
|
|
65.53 |
80.77 |
15.24 |
4.63 |
|
|
|
|
|
|
RC19-2562 |
Kokanee |
1.52 |
10.67 |
9.15 |
0.41 |
|
|
45.72 |
47.24 |
1.52 |
0.44 |
|
|
53.34 |
83.82 |
30.48 |
1.25 |
|
|
74.68 |
80.77 |
6.09 |
3.00 |
|
|
|
|
|
|
RC19-2563 |
Golden |
68.58 |
77.72 |
9.14 |
0.65 |
|
|
85.34 |
91.44 |
6.1 |
0.41 |
|
|
102.11 |
108.20 |
6.09 |
0.41 |
|
|
|
|
|
|
RC19-2564 |
Golden |
97.54 |
106.68 |
9.14 |
1.56 |
|
|
|
|
|
|
RC19-2565 |
Golden |
96.01 |
97.54 |
1.53 |
0.42 |
|
|
106.68 |
117.35 |
10.67 |
0.74 |
|
|
|
|
|
|
RC19-2590 |
Golden |
4.57 |
6.10 |
1.53 |
0.33 |
|
|
|
|
|
|
RC19-2592 |
Golden |
48.77 |
50.29 |
1.52 |
0.49 |
|
|
|
|
|
|
RC19-2593 |
Golden |
13.72 |
15.24 |
1.52 |
0.48 |
|
|
48.77 |
53.34 |
4.57 |
0.29 |
|
|
|
|
|
|
RC19-2594 |
Golden |
47.24 |
50.29 |
3.05 |
0.82 |
|
|
60.96 |
62.48 |
1.52 |
0.30 |
|
|
|
|
|
|
RC19-2599 |
Golden |
0.00 |
6.10 |
6.1 |
0.51 |
|
|
115.82 |
126.49 |
10.67 |
2.98 |
|
|
|
|
|
|
RC19-2651 |
Golden |
9.14 |
28.96 |
19.82 |
1.27 |
|
|
|
|
|
|
RC19-2652 |
Golden |
28.96 |
30.48 |
1.52 |
0.54 |
|
|
35.05 |
36.58 |
1.53 |
0.41 |
|
|
111.25 |
115.82 |
4.57 |
0.53 |
|
|
118.87 |
120.40 |
1.53 |
0.65 |
|
|
|
|
|
|
RC19-2677 |
Golden |
4.57 |
15.24 |
10.67 |
1.12 |
|
|
18.29 |
19.81 |
1.52 |
0.28 |
|
|
27.43 |
28.96 |
1.53 |
0.36 |
Significant intervals are length weighted averages chosen based
on continuity of mineralization and gold grade with composite grade
exceeding 0.25 g/t gold. All samples obtained from a 117.5mm
(4.625”) diameter reverse circulation drill hole that was split at
the drill rig except for samples from drill hole RC19-2547 that
were obtained from a 88.9mm (3.5”) reverse circulation drill hole
that was not split at the drill (submitted entire sample).
Drill holes RC19-2591 and RC19-2595 returned no
assays greater than 0.25 g/t Au
Brewery Creek 43-101 Technical
Report
The Company also advises the updated NI 43-101
Technical Report for the Brewery Creek project prepared by
Gustavson & Associates, effective date of October 1, 2019, was
filed on SEDAR on January 23, 2020. The 2019 drill program
results are not included in the report as they were not available
at the time of the estimation, but an updated NI 43-101 technical
report will be initiated in the second quarter to include them.
Sampling Methodology, Quality Control and
Assurance
Analyses for drill samples were performed by SGS
Canada, Inc., ALS Canada and Bureau Veritas, Canada with sample
preparation in Whitehorse, YT and assaying in Burnaby, North
Vancouver and Vancouver, BC respectively. Drill samples were
analyzed for gold using a 30 gram fire assay with atomic absorption
finish (SGS-GO FAA30V10 method, ALS-Au AA-25 method and BV-FA430
method). Quality controls standards include standard
reference material, certified blank and field duplicate samples in
every sample dispatch.
BREWERY CREEK PROJECT
OVERVIEW
Heap Leach Reprocessing Study: Phase
1
Kappes Cassiday is currently conducting a
feasibility level study to determine the parameters for the phase 1
plan to reprocess and recover gold from material on the heap leach
pad. The study will include detailed analysis of all the key
parameters involved in reconstructing or adding necessary
infrastructure including a crushing plant, ADR plant, and assay
lab. The study will estimate all projected capital and operating
costs, production levels and will estimate projected economic
returns. The study is focusing on remediating and
reprocessing the heap leach pad as a means of fast-tracking
re-development of the site. The study will include a project
implementation schedule, sourcing, and economic cash flow model
sufficiently detailed to move directly into procurement,
development and construction if economically warranted. Any
production decisions would be dependent on the outcome of this
feasibility level study demonstrating positive technical and
economic viability.
Brewery Creek Mine: Production
History
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 below $300
US per troy ounce. Golden Predator’s team commenced work on the
project starting in 2009. Brewery Creek is 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 when supported by an independent
economic study. In 2020 the Company will begin work with
Tr’ondëk Hwëch’in and Yukon Government to expand the licensed
mining to include new discoveries made since the existing license
was granted.
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 which increased the
resource significantly. The project has an Indicated oxide resource
of 21,140,00 tonnes at 1.125 g/t Gold containing 765,000 ounces,
plus an Inferred oxide resource of 14,120,000 tonnes at 0.967 g/t
Gold containing 440,000 ounces. In addition, resources
include 8,570,000 tonnes of Inferred sulfide resource at 0.985 g/t
Gold containing 270,000 ounces. Materials on the heap leach pad
were not included in the resource update. The resource
incorporates drill results through 2014. There are 200
additional exploration drill holes to be included in an anticipated
resource update.
The current NI 43-101 Technical Report is now
available on SEDAR and the Company’s website. The updated
report replaces the technical report dated November 19, 2014.
Brewery Creek Mine: Licenses, Permits
and NI 43-101 Disclosure
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 is employed by the
Company as its Senior Project Geologist.
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 a feasibility level study currently underway by Kappes
Cassiday considering the economics of a restart of heap leach
operations at the Brewery Creek Mine, 2020 proves to be a pivotal
year for the Company. 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.
Separately, the Yukon-based Company-owned
gravity processing plant located in southeast Yukon has
demonstrated gold recoveries of over 85% from high grade 3 Aces
material using a combination of a gravity and water process and a
mobile batch cyanide-free process. This ‘green’ gold provides the
content 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
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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