VANCOUVER, July 26, 2012 /CNW/ - Golden Predator Corp. (TSX:GPD) (the "Company") is pleased to announce the results from an additional
12 in-fill diamond drill holes from the West Big Rock Zone at its
flagship Brewery Creek Project. The ongoing program is designed to
increase the existing indicated resources by upgrading the inferred
resource through closer spaced drilling at the Big Rock Zone. To date
the program is demonstrating strong continuity of the ore body in the
targeted areas. The Company anticipates incorporating these results, as
well as previously announced drill data from its 2012 campaign, into an
updated resource estimate planned for later in the year.
Highlights of the current release include:
BC12-431 with 19.6 m of 1.03 g/t gold from a depth of 53.0 m including
1.6 m of 6.27 g/t gold;
BC12-433 with 18.0 m of 1.97 g/t gold from a depth of 47.9 m including
4.4 m of 5.88 g/t gold;
BC12-435 with 23.1 m of 1.71 g/t gold from a depth of 43.4 m including
2.8 m of 7.01 g/t gold;
BC12-436 with 23.2 m of 1.64 g/t gold from a depth of 38.7 m including
13.0 m of 2.26 g/t gold; and
BC12-451 with 25.5 m of 1.55 g/t gold from a depth of 33.0 m.
A complete table of results and location map can be found on the
Company's website at:
West Big Rock Zone, Brewery Creek
The West Big Rock resource area is the farthest west known gold resource
at the Brewery Creek Project. Gold mineralization occurs primarily in
clay altered quartz monzonite sills and to a lesser extent in
siliclastic sedimentary rocks. The primary mineralized zone outcrops,
with a strike of N70 o E and dip of 40o to the southeast.
The 12 in-fill holes reported above are part of the Company's 2012
drilling program at Brewery Creek, which has completed more than 18,000
m to date this year. Drilling at the West Big Rock Zone is anticipated
to continue with a combination of in-fill and step-out holes.
Brewery Creek Project Overview
Brewery Creek hosts NI 43-101 compliant resources of 581,000 indicated
gold ounces in 20.417 million tonnes at 0.89 g/t and 346,000 inferred
gold ounces in 12.990 million tonnes at 0.83 g/t (Barr, 2012; GPD NR
12-20 June 18, 2012). The Company anticipates publishing an updated
resource estimate incorporating the current year's drilling later in
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 primarily 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
The Project is in receipt of all necessary permits required to conduct
additional exploration. The Brewery Creek Project holds 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 holds a Quartz Mining License (QML) with
an expiry date of December 31, 2021. The Company is working to amend
the Water License and the QML to incorporate current mine planning and
design studies which are currently underway. In addition, a current
Socio-Economic Accord with Tr'ondek Hwech'in First Nation with respect
to the Brewery Creek Project 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 mandated to become a mid-tier gold producer. Golden Predator's
road-accessible advanced properties include its flagship Brewery Creek
Project as well as its Grew Creek and Clear Creek Projects. Golden
Predator is committed to moving aggressively to a near term production
decision while expanding the existing NI 43-101-compliant resource at
Golden Predator has one of the largest controlled land positions in the
Yukon, with exploration holdings in excess of 1.0 million acres, and is
committed to strong relationships with First Nations and communities.
Golden Predator's highly skilled management and technical teams
continue to lead quality exploration programs in the underexplored
regions of the Yukon, focused on advancing new discoveries and leaving
a positive legacy.
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)