VANCOUVER, Jan. 5, 2012 /CNW/ - Golden Predator Corp. (TSX:GPD) (the "Company") is pleased to announce further results of 19 Core and
RC drill holes from the North Slope Zone at its flagship Brewery Creek
Project. Highlights of the current release include:
BC11-329 with 16.0 m of 3.20 g/t gold from a depth of 41.0 m;
BC11-333 with 5.4 m of 3.20 g/t gold from a depth of 26.6 m, as well as
23.50 m of 2.30 g/t gold from a depth of 49.0 m; and
RC11-2391 with 22.0 m of 1.23 g/t gold from a depth of 130.0 m.
A complete table of results and location map can be found on the
Company's website at: http://www.goldenpredator.com/documents/GPD-NR12-01-Brewery-Creek-NS-Jan-05-2012-FINAL.pdf
North Slope Zone Geology
The North Slope area lies approximately 1 km northwest of the
Reserve-trend deposits which were historically mined at Brewery Creek.
It is parallel and structurally similar to those deposits but occupies
a different (lower) part of the stratigraphic section. Gold
mineralization at North Slope is hosted in altered quartz monzonite
sills and adjacent siltstones.
2011 Year End Brewery Creek Project Update
The Company completed 209 core holes for 31,210 m and 135 RC holes for
24,243 m at Brewery Creek in 2011. Drilling has been concentrated on delineating the two 2011 discoveries
at the Bohemian-Schooner and Sleeman Zones, with significant additional
drilling on the North Slope and Classic Zones. Results are still pending for 124 core and RC holes. Resource modeling
in support of an updated resource estimate is well underway.
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 187 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, including the Class
3 Mining Land Use permit 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 production license with an expiry date of December
31, 2021, and the ninety-three mining leases covering mine facilities,
pits, waste dumps and adjacent drill indicated deposits have expiry
dates beginning in 2016. In addition, a Socio-Economic Accord with
Tr'ondek Hwech'in First Nation with respect to the Brewery Creek
Project is in place.
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 a well-funded exploration company 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 Projects.
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)