FRANKFURT EXCHANGE: 3G8
VANCOUVER, Nov. 7, 2011 /CNW/ - Golden Dawn Minerals Inc. (TSXV: GOM) (FRANKFURT: 3G8), (the "Company" or "Golden Dawn") reports
that the Company and Hi Ho Silver Resources Inc. (Hi Ho) (CNSX: HHS)
(FRANKFURT: H9T) will commence a diamond drill program of 2,500 meters
in the second week of November 2011 on the Royal Attwood Project
located in the Greenwood Mining District, 8 km west of Grand forks on
Highway #3 . This property is located approximately 10 km southeast of
Golden Dawn's Greenwood Project. Golden Dawn holds an option to earn
100 % interest in this property and has granted Hi Ho an option to earn
in a 50% interest by contributing 57.5% of all costs incurred by Golden
Dawn on the property. Golden Dawn is the operator for the project.
The 1,800 Ha Royal Attwood Property is approximately 7 km due south of
the Phoenix Mine which produced 30 million tonnes, grading 1.2 grams
per tonne (g/t) gold, 8.5 g/t silver and 1% copper.
The Royal Attwood Project has been the subject of the following
comprehensive large-scale historical geochemical and geophysical
surveys together with some current programs:
stream sediment sampling programs that yielded multiple strong gold
four-thousand (4,000) stream and soil samples which included widespread
anomalous gold values including 50 soil samples exceeding 200 ppb gold
( 0.2 g/t) up to 1,160 ppb gold (1.16 g/t);
various geophysical surveys including Ground Magnetics, Induced
Polarization (IP), AeroTEM Magnetics and AeroTEM Electromagnetics (EM)
that have yielded a number of IP and EM anomalies that are spatially
coincident with gold in soil anomalies; and
a recent Titan 24 survey, which produced more than 30 potential EM
anomalies of interest, requiring follow-up exploration.
The coincidence of extensive gold in soil geochemical anomalies with
large AeroTEM EM and Magnetic anomalies suggests that there is
exploration potential for sizeable gold deposits related to either an
intrusive related gold-copper system, intrusive related high sulphide
skarn system or possibly volcanogenic related massive sulphide zones.
Titan 24 Survey
A state-of-the-art Titan 24 ground geophysical EM survey covering the
northern quarter of the property was completed in January 2011. This
survey further refined the exploration targets. A comprehensive mapping
and rock sampling survey over the numerous targets prioritized by the
Titan 24 survey was carried out in the summer of 2011.
The objectives of the Titan 24 DCIP & MT EM survey at the Royal Attwood
Project were the detection of zones of conductivity and definition of
structures possibly related to the emplacement of gold and copper
mineralization. The main objective was to identify high quality drill
targets in the areas of strong gold in soil geochemical anomalies.
The Titan 24 survey has yielded a number of conductivity (EM) anomalies
on the northern most portion of the Royal Attwood property including
dyke‐like sub vertical and moderately conductive anomalies in the
central and north‐central parts of the grid. These conductive features
extend from surface and appear to extend to great depths and
interconnect with a deep U‐shape conductive anomaly in the area.
The chargeability distribution at the surface of the survey grid defines
a number of chargeability EM zones, which crops out mainly in the
western and eastern parts of the grid. At 100 meter depth, the highest
chargeability is observed in the north and northwest parts of the grid.
High chargeability areas between 200 meters and 400 meters depths are
limited to the west and northwest parts of the grid. Below 400 meters
in depth, two high chargeability zones are observed in the westernmost
part of the grid.
A number of these conductivity and chargeability anomalies warrant drill
Survey Anomalies and Planned Drilling
A total of 30 potential targets with different priority levels have been
delineated on the Royal Attwood project. These potential targets are
prioritized as High, Moderate, or Low, based on the chargeability and
conductivity characteristics of the anomalies as well as their size.
Two (2) High priority, fifteen (15) Moderate‐High priority, nine (9)
Moderate priority, and four (4) Low‐Moderate priority anomalies are
ranked for further evaluation and drilling. At least eight (8) of the
anomalies are coincident with known gold in soil geochemical anomalies
or known skarn or massive sulphide mineralization at surface and will
be drill tested. A land use permit has been received from the BC
Ministry of Energy and Mines for the drilling. A drill crew is being
mobilized to site to commence drilling shortly.
Golden Dawn and Hi Ho are optimistic as the initial drilling program
begins on this encouraging suite of targets in this historically
productive mineral belt.
There are no known mineral resources on the Royal Attwood, 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 economically extracted. Historical results have
not been confirmed.
The drilling program will be supervised by Michael Dufresne, P.Geol., of
APEX Geoscience Ltd., a Qualified Person as defined by National
Instrument 43-101. Mr. Dufresne has reviewed and verified the contents
of this release.
On behalf of the Board of Directors:
GOLDEN DAWN MINERALS INC.
Chief Executive Officer
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: