Golden Predator Reports Brewery Creek Mineral Resource Estimate to Be Released in August 2020
August 04 2020 - 3:00PM
Golden Predator Mining Corp. (TSX.V:GPY,
OTCQX:NTGSF) (the “
Company”) reports that
Gustavson Associates, LLC, retained to prepare an updated Mineral
Resource Estimate incorporating the 2019 drill results into the
resource model by the end of July 2020, has notified the Company
that the results will be available no later than August 25th, 2020.
Gustavson Associates, LLC cited several factors including:
- Personnel assigned to this phase of the project left the
firm for another opportunity. This resulted in a significant
reduction in capacity and has affected the project schedule;
- Inefficiencies due to a change in their typical workflow and
practices amidst the current pandemic.
While the Company is disappointed in this delay
it understands the uniqueness of the situation and looks forward to
receipt of the new mineral resource estimate.
Brewery Creek Mine:
Resources1
The Company anticipates the release of a new
Mineral Resource Estimate by August 25th which will fully integrate
all drilling to date. This will supersede the 2019 Mineral
Resource Estimate:
2019 Brewery Creek Mineral Resource
Estimate(1) |
Oxide |
Tonnes |
g/t |
Gold Oz. |
Indicated |
21,140,000 |
1.13 |
765,000 |
Inferred |
14,120,000 |
0.97 |
440,000 |
|
|
|
|
Sulfide |
Tonnes |
g/t |
Gold Oz. |
Inferred |
8,570,000 |
0.99 |
270,000 |
2019 drilling results and materials on the heap leach pad were not
included in the resource update. |
The technical content of this news release has
been reviewed and approved by Michael Maslowski, CPG, a Qualified
Person as defined by National Instrument 43-101 and is employed by
the Company as its Chief Operating Officer.
About Golden Predator Mining
Corp.
Golden Predator is advancing the past-producing
Brewery Creek Mine towards a timely resumption of mining
activities, under its Quartz Mining and Water Licenses, in Canada’s
Yukon. The Brewery Creek Mine project has established mineral
resources grading over 1.0 g/t Gold with planning studies currently
underway by to consider the feasibility of restarting the mine.
Drilling continues to expand the open-ended mineralized areas 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.
For additional information: Janet
Lee-Sheriff Chief Executive Officer (604)
260-8435info@goldenpredator.comwww.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 Brewery Creek will advance to an
early production decision, or the extent of any additional mineral
resource that could result from incorporating 2019 exploration
drilling. 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.
- The 2019 Mineral Resource Estimate
was conducted in accordance with CIM guidelines and is reported in
a NI 43-101 Technical Report available on SEDAR and the Company’s
website.
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