VANCOUVER, Jan. 12, 2012 /CNW/ - Golden Predator Corp. (TSX:GPD) (the "Company") is pleased to announce further results of the final 6
Core and 28 RC drill holes from the North Slope Zone at its flagship
Brewery Creek Project. Highlights of the current release include:
BC11-345 with 10.0 m of 2.06 g/t gold from a depth of 115.0 m with hole
ending in 5.27 g/t gold;
RC11-2417 with 35.1 m of 1.04 g/t gold from a depth of 29.0 m; as well
RC11-2418 with 30.5 m of 1.97 g/t gold from a depth of 29.0 m;
including 7.62 m of 5.16 g/t gold from a depth of 32.0 m and 3.05 m of
4.27 g/t gold from a depth of 53.3m.
A complete table of results and location map can be found on the
Company's website at:
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 344 core and RC holes for 55,453 m at Brewery
Creek in 2011. Drilling to date 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.
A 43-101 compliant resource estimate for the entire property is
anticipated before the end of January. Current year drilling will
resume early in the first quarter and 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 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)