VANCOUVER, May 10 /CNW/ - Golden Predator Corp. (TSX: GPD) (the "Company") is pleased to announce it has resumed its Brewery Creek drill program following the recently announced discoveries at the Bohemian and Schooner Zones. The Company also reports it has completed an airborne geophysical survey of the Brewery Creek project, conducted to identify and delineate additional drill targets for the 2011 drill program. The Company will host a conference call and live audio webcast at 9 AM PST on Wednesday, May 11th, 2011 to provide information about the discovery and future plans for its Brewery Creek Project. Information on the conference call and live audio webcast is outlined below.
2011 Winter Drill Program
The Brewery Creek winter 2011 diamond drilling campaign was designed to expand the Bohemian Zone, discovered by the Company in 2010 and resulted in a second discovery at the Schooner Zone, 250 m east of the Bohemian Zone with results that included:
- Hole BC11-198: 74 m of 7.08 g/t gold including 57.5 m of 8.90 g/t
gold beginning at a depth of 6 m(1);
- Hole BC11-199: 51.6 m of 1.71 g/t gold starting at a depth of 20 m
with the hole bottoming in 2.85 g/t gold from 69.5 m to the final
depth of 71.6 m(1);
- Hole BC11-183: 28.0 m of 5.06 g/t gold beginning at a depth of 46.0 m
in hole BC11-183, including 13.5 m of 8.78 g/t beginning at a depth
of 53.5 m(2);
- Holes BC11-176: 32.9 m of 3.01 g/t gold beginning at a depth of 42.6
The Company's 2011 winter program at Brewery Creek reported significant mineralization on 24 of the 25 holes drilled. The current drill program is planned to include an additional 20 holes and will focus on the extension of mineralization along strike and down dip from this important discovery.
Airborne Geophysical Survey
Results of the airborne survey have identified nine major gold exploration targets consisting of four previously unidentified sites as well as five enhanced target sites. These sites will be systematically tested as the Company's drill program intensifies throughout the year.
Golden Predator has analyzed and characterized the extensive exploration data and the nature of mineralization at the previously mined areas at Brewery Creek as a guide to identify and prioritize other targets in the eastern region of the Property. The known mineralization is associated with quartz monzonite intrusions, which typically show a magnetic low response from hydrothermal destruction of magnetite. In total, the airborne survey identified nine individual areas-of-interest that correlate strongly with anomalous gold in soils.
The technical content of this news release has been reviewed and approved by Bruce R. Otto, MSc, PGeo, CPG, the Company's Senior Structural Geologist and a Qualified Person as defined by National Instrument 43-101.
Conference Call and Webcast Information
Golden Predator will host a conference call and live audio webcast to discuss the significance of the recent Brewery Creek discoveries, its 2011 winter drill program, the airborne geophysical survey results, and its future plans for development of the Brewery Creek Project.
Date: Wednesday, May 11, 2011
Time: 9:00am Pacific Time (12:00pm Eastern Time)
Participant Dial-In Numbers:
- Operator assisted toll-free dial-in number (North America):
- Local/International dial-in number: 647-427-7450
- A live audio webcast can be accessed at:
Q&A Session: Please log into the webcast to submit questions.
Playback Available for One Week Following the Call:
- North American toll-free number: 1-800-642-1687
- Local dial-in number: 416-849-0833
- Pass code: 66277030
Conference call and live audio webcast details are also available on the Golden Predator website: www.goldenpredator.com.
(1)GPD NR April 26, 2011
(2)GPD NR April 7, 2011
(3)GPD NR March 24, 2011
About Golden Predator Corp.
Golden Predator Corp., a well-funded exploration and development company, has a mandate to be the leading gold property explorer and developer in Yukon, Canada. Golden Predator has a vast Yukon property position with three advanced gold projects, 6 pipeline prospects as well as exploration landholdings, all totalling over 2,300 km(2). Drilling programs continue at the Company's Brewery Creek and Grew Creek projects. In 2011 Golden Predator will continue aggressive drill programs and work towards completing initial resource estimates for Grew Creek and Clear Creek and updating the existing resource estimate for Brewery Creek, in addition to conducting initial drilling at the recently acquired Harlan project.
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., Investor Relations, (604) 648-GOLD (4653), email@example.com, www.goldenpredator.com