VANCOUVER, Feb. 22, 2012 /CNW/ - Golden Predator Corp. (TSX:GPD) (the "Company") is pleased to announce the results from 3 diamond and
11 RC holes drilled in late 2011 from the East Big Rock Zone at its
flagship Brewery Creek Project located near Dawson City, Yukon. Golden
Predator has agreed to purchase a 100% interest in the Project, subject
to a 2% NSR (see GPD News Release February 15th, 2012). Highlights of the current release include:
RC11-2433 with 15.2 m of 1.93 g/t gold from a depth of 32.0 m including
1.5 m of 3.28 g/t gold; and
RC11-2436 with 15.2 m of 1.26 g/t gold from a depth of 35.1 m including
1.5 m of 4.94 g/t gold.
A complete table of results and location map can be found on the
Company's website at:
Big Rock Zone Geology
The Big Rock Zone contains the farthest west known gold resources at the
Brewery Creek Project. Gold mineralization occurs primarily in
clay-altered quartz monzonite sills and to a lesser extent in
siliciclastic sedimentary rocks. The primary mineralized Zones outcrop
with a N70 o E strike, and dip 40o to the southeast. The East Big Rock Zone lies 100 m along strike from
the West Big Rock Zone, across an area which has seen limited drilling
to date and which is targeted for infill during 2012.
The Company's 2011 drilling at East Big Rock was designed to confirm and
extend known mineralization both laterally and down dip. In
particular, drill holes RC11-2434 through RC-2436 extend the known
mineralization at East Big Rock over 40 m down dip and continue to show
both strike and dip continuity beyond the previously existing drill
The eastern strike extension of the East Big Rock resource is offset by
a post-ore fault; proposed 2012 drilling at East Big Rock is designed
to test the offset eastern strike extension of the deposit across this
Holes BC11-347, RC11-2428 & RC11-2429 did not intercept significant
Brewery Creek Project Update
The Company completed 344 core and RC holes for 55,453 m at Brewery
Creek in 2011. The 2011 drilling was concentrated on delineating the
three 2011 discoveries at the Bohemian-Schooner, Sleeman and Classic
Zones, with significant additional drilling on the North Slope and the
East and West Big Rock Zones.
Current year drilling will concentrate on further expansion of the
Sleeman, Classic and Bohemian- Schooner Zones as well as exploration of
a number of quality targets resulting from 2011 geochemical and
geophysical surveys of the Project area.
The Brewery Creek Project is a past producing heap leach gold mining
operation with a total of 278,484 oz Au produced from seven
near-surface oxide deposits along the property's Reserve Trend from
1996 through 2002, when the mine (operated by Viceroy Resource
Corporation) shut down due to low gold prices. The 200 km2 property is located 55 km due east of Dawson City, accessible by paved
and gravel roads from the junction of the North Klondike and Dempster
Highways. In May 2011 the Company staked an additional 204 quartz
claims east of the historic Brewery Creek property, increasing the
Project to a total of 997 quartz claims.
The Project is in receipt of all necessary permits required to conduct
additional exploration. The Brewery Creek Project is authorized under a
Type A Water License with an expiry date of December 31, 2021, subject
to the restrictions and conditions contained in the Yukon Water Act and
Regulations. The Project also has a Mining license with an expiry date
of December 31, 2021. In addition, a Socio-Economic Accord with
Tr'ondek Hwech'in First Nation with respect to the Brewery Creek
Project is in place.
The Company anticipates receiving a NI 43-101 compliant resource
estimate, currently underway, in April 2012. The resource estimate
will include all results from the 2011 drill program.
Sampling Methodology, Quality Control and Assurance
Samples were fire assayed for gold by ALS Chemex and ACME Laboratories
in Vancouver. All assays are reported as drilled intervals and are not
to be interpreted as true widths. Refer to the Company's news release
dated October 27, 2011 for a complete discussion of sampling methods,
quality control and assurance.
The technical content of this news release has been reviewed and
approved by Michael Maslowski, BSc, CPG, the Company's Chief Operating
Officer and a Qualified Person as defined by National Instrument
About Golden Predator Corp.
Golden Predator Corp., Yukon's Gold Company, is mandated to become a mid-tier gold producer. Golden Predator's
road-accessible advanced properties include its flagship Brewery Creek
Project at which the Company is moving aggressively to a near term
production decision, as well as its Grew Creek and Clear Creek
Golden Predator has the largest controlled land position in the Yukon,
with exploration holdings in excess of 1,400,000 acres (over 5,700 km2), and is committed to strong relationships with Yukon First Nations and
communities. Golden Predator's management and technical teams continue
to lead aggressive exploration programs in the underexplored regions of
the Yukon, and are driven to bring value to shareholders and leave a
No stock exchange, securities commission or other regulatory authority
has approved or disapproved the information contained herein. This
press release contains projections and 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 involving a number of risks and
uncertainties and are not guarantees of future performance. There are
numerous risks and uncertainties that could cause actual results and
Golden Predator's plans and objectives to differ materially from those
expressed in the forward-looking information. 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, Golden Predator assumes no
obligation to update forward-looking information should circumstances
or management's estimates or opinions change.
SOURCE Golden Predator Corp.
For further information:
Golden Predator Corp.
William M. Sheriff, Chairman & Chief Executive Officer
(604) 648-GOLD (4653)