FRANKFURT EXCHANGE: 3G8
VANCOUVER, May 2 /CNW/ - GOLDEN DAWN MINERALS INC. (TSX-V: GOM,
FRANKFURT: 3G8) Wolf Wiese is pleased to announce the assay results
from a recent sampling of the #6 Adit of the May Mac Mine. Four
character samples taken during an inspection by Wayne Ash P.Eng, a
mining engineer, have returned high precious and base metal values. The
May Mac gold/silver Mine is located approximately 2 km south of the
City of Greenwood, B.C. The four character samples returned values
ranging between 10.4 to 84.2 g/t gold and 404 to 2,080 g/t silver from
the veins and wall rock materials within the #6 Adit as detailed below.
SAMPLES 1-4 ASSAY RESULTS
Character rock grab sample of near-massive sulfide from the "A-A" Stope,
but finer-grained than Sample #1; assay 84.2 ppm Au (2.45 opt Au), 2080
ppm Ag (59.5 opt Ag), 24.3% Pb, 9.01% Zn, and 20.4% Fe.
Character rock grab sample of massive sulfides left in "A-A" Zone,
containing coarse-grained galena and massive pyrite; assay 0.93 ppm
Au (0.027 opt Au), 844 ppm Ag (24.6 opt Ag), 19.75% Pb, 3.55% Zn, and
Character rock grab sample of quartz vein 25 cm width, (which was
apparently considered too narrow to warrant mining in 1974), with
central band of near-massive pyrite, plus galena and sphalerite;
assay14.3 ppm Au (0.417 opt Au), 404 ppm Ag (11.8 opt Ag), 7.48% Pb,
5.35% Zn, and 15.0% Fe.
Character rock grab sample taken of a quartz vein which horse-tailed out
into the right rib of the drift and having a width of approximately
1.2 meters; assay 10.6 ppm Au (0.31 opt), 421 ppm Ag (12.2 opt), 6.53%
Pb, and 3.23% Fe.
The current inspection provided a preliminary assessment of the
potential for further development of the May Mac Mine and for
investigation of the surrounding exploration potential of the Boundary
Falls Property. The Boundary Falls Property is part of Golden Dawn's
Greenwood project, which also includes the Wild Rose Property
contiguous to the North and the Tam O'Shanter Property contiguous to
the North West of the Wild Rose Property.
The May Mac Mine lies on the Northwest portion of the Boundary Falls
Property. The mine is 2 km south east of the target area on the Wild
Rose Property where the company recently completed a phase one, 12-hole
drill program, and anticipates further drilling upon completion of a
current groundwork program. The May Mac Mine area contains a permitted
120 ton/day gravity and flotation mill with tailings facility which was
in operation intermittently until the late 1990's.
During Mr. Ash's visit, only the #6 Adit was available for inspection.
Several undeveloped veins were noted which horse-tailed out into the
hanging wall of the adit. Mineralization within the veins consists of
wisps and lenses of pyrite and galena, although sulfide wisps also
occur in the adjoining sheared argillite. The shear zones appear to
be open along strike and down dip, yielding exploration potential
for an anticipated work program.
The history of the May Mac Mine began with intermittent development and
mining between 1904 and 1983, producing some 3,500 tons of ore
averaging approximately 5.2 g/t Au (0.15 opt Au) and 238 g/t Ag (6.9
opt Ag). Production was directly-shipped to the COMINCO Smelter at
Trail, B.C. Note that all data, other than the assay results of the
current sampling, conducted by Wayne M. Ash, P. Eng., are historical in
nature, may not be complete, have not been verified
The Upper Skomac veins are hosted within a thinly-bedded
carbonaceous sheared argillaceous zone, with a strike of 310° to 320° azimuth, and dips of 40° to 60° northeast. The shear zone appears to vary between three and four meters
wide, but may be wider. Mineralized white quartz veins occur within
the shear zone. The main vein varies from 0.3 to 3.0 meters in width,
averaging 0.9 meter, but narrow, discontinuous veins and veinlets tend
to occur throughout the full adit width.
The Upper May Mac Mine is accessed by four adits (#4, #5, #6 and #7).
The #4 Adit was apparently driven in 1904 and is reported to have
produced some 890 tons grading approximately 3,400 ppm Ag (100 opt Ag)
between 1904 and 1937. This is also historical information. The #5
Adit, driven some 12 m lower in elevation in 1962, was developed and
stoped out to the #4 level. Access is presently barred by caving. The
#6 Adit, driven in 1974 and collared some 30 meters below the #5, was
the longest adit developed. It was driven along the main structure for
some 215 meters and encountered four mineral zones. During the
productive years, the four zones, including the AA, A, B & C zones, and
constituting approximately 40% of the adit length, were considered
sufficiently wide and high enough grade to be economically mined.
Note, however, that due to the absence of an assay office, fire assays
were seldom conducted. The grade of the material to be mined was
assessed visually. The drift backs (adit ceiling) or ribs (adit walls)
have apparently never been sampled, and represent an immediate
target for evaluation.
In 1976, the #7 Adit was driven at an elevation of some 60 meters below
the #6 Adit, but failed to encounter significant mineral. It has since
been determined that this adit was driven on a barren vein, some 30 to
50 meters into the footwall of the main, productive vein, leaving the
main vein as a prominent exploration and development target.
During the visit, the four character mineral samples were taken by Mr.
Ash P. Eng., and were personally transported by him to ALS Chemex Labs
in North Vancouver for analysis. Pursuant to the encouraging assay
results and the availability of a flotation mill with tailings facility
on site, Mr. Ash P.Eng. has recommended a program to further develop
the May Mac Mine.
The entire Boundary Falls Property has undergone various exploration
programs over the years. The most recent work was a Helicopter TEM
EM-MAG survey which yielded anomalies which are coincident with
previous VLF surveys and geochemical (soil sampling) surveys. This
group of survey results has delineated targets of interest that may be
separate mineralization from the May Mac vein systems or perhaps be
related to these veins. This is particularly of interest in the area
of about 400-1000 meters to the south of the May Mac Mine,
where several small adits follow high grade veins in an area coincident
with a MAG-EM anomaly. At this time both Mr. Ash P.Eng. and APEX
Geoscience Ltd. are compiling the necessary data for further evaluation
and work recommendations.
The reader is cautioned that historical data is not confirmed, and such
historical data has not been verified. There are no known mineral
resources on the property, and there can be no assurance that any
mineral resources will be discovered on the property and, if
discovered, there is no assurance that any mineralization may be
The information in this release has been reviewed on behalf of the
Company by Mr. Michael Dufresne, M.Sc., P.Geol., and Mr. Wayne Ash P.
Eng., Qualified Persons as defined by NI 43-101. The program is being
supervised by Mr. Dufresne of APEX Geoscience Ltd.
ON BEHALF OF THE BOARD OF DIRECTORS OF
GOLDEN DAWN MINERALS INC.
THIS PRESS RELEASE WAS PREPARED BY MANAGEMENT WHO TAKES FULL
RESPONSIBILITY FOR ITS CONTENTS. NEITHER TSX VENTURE EXCHANGE NOR ITS
REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES
OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
THIS DOCUMENT CONTAINS CERTAIN FORWARD LOOKING STATEMENTS WHICH INVOLVE
KNOWN AND UNKNOWN RISKS, DELAYS, AND UNCERTAINTIES NOT UNDER THE
COMPANY'S CONTROL WHICH MAY CAUSE ACTUAL RESULTS, PERFORMANCE OR
ACHIEVEMENTS OF THE COMPANY TO BE MATERIALLY DIFFERENT FROM THE
RESULTS, PERFORMANCE, OR ACHIEVEMENTS IMPLIED BY THESE FORWARD LOOKING
STATEMENTS. WE SEEK SAFE HARBOR.
SOURCE Golden Dawn Minerals Inc.
For further information:
GOLDEN DAWN MINERALS INC.
575, 1111 WEST HASTINGS STREET,
VANCOUVER, BC, V6E 2J3
Telephone: (604) 221-8936
Facsimile: (604) 685-2360