FRANKFURT EXCHANGE: 3G8
VANCOUVER, Jan. 31 /CNW/ - Golden Dawn Minerals Inc. (TSX-V: GOM) (the
"Company") announced today that the summary reports on the Swan property,
Toodoggone River Area BC, and the VMS Property, Skeena mining division
(Stewart Area) BC, recommend substantial work programs for each property.
Dr. Kenneth M. Dawson Ph.D., P.Geo, in his NI 43-101 report on the Swan
property recommends a two phase program of: Phase I - - $487,000, and Phase
II - - $570,000, for a total of $1,057,000. The recommended program includes
geophysics followed by 4,000 metres of core drilling directed toward the SOM,
and Copper-Breccia porphyry copper-gold potential bulk tonnage targets.
The SOM target warrants additional drilling of geophysical (IP) anomalies
interpreted to represent a buried intrusive. Drilling to date in 2007 returned
alteration, veining, and mineral suites indicative of a porphyry assemblage.
However, the anticipated copper and molybdenum values were not elevated. In
Phase I, four additional holes have been recommended to further test this
The Copper-Breccia target area, as yet undrilled, warrants 2 drill holes
in Phase I to identify, in bedrock, the source of copper-bearing rubble
exposed over an extensive zone on the property. An MMI geochemical survey is
proposed to assist in locating these drill sites.
An extensive prospecting, mapping, and geophysical program is proposed to
test for extensions of the large Saunders gold-silver-bearing quartz vein
system; and for the northeastern part of the Swan claim group prospective for
porphyry copper targets similar to those located on the nearby PIL North,
Spartan, and GWP claim groups. The producing Kemess South Mine to the south,
the Kemess North resources, and several other evolving porphyry copper-gold
systems in the belt provide the incentive for a concerted exploration effort
on this type of target.
Eric Ostensoe, P.Geo, in his assessment report on the VMS project,
recommends a budget of $550,000 to cover technical work, including geology and
geophysics ($150,000) to be followed by a drilling program ($400,000) directed
toward potential targets of both massive sulphide and bulk tonnage
Four boulder field areas have been variously sampled returning
encouraging gold, silver, and base metal values ranging from 0 to as high as
2.56 % copper, 5.05% zinc, 2.44% lead, 11 gm/mt silver, and 3.6 gm/mt gold.
Several VLF-EM anomalies trend northerly on the property across areas of MMI
(Mobile Metal Ion) anomalies. Selection of drill target sites will be guided
by additional ground work, in an effort to locate possible Stikine-type
precious metals rich massive sulphides, and/or possible bulk-tonnage
Recently reported expanded resource figures for the Homestake Ridge
property, 20km to the North of the VMS property, being pursued by Bravo
Ventures Inc., plus the presence of the Eskay Creek gold-silver Mine of
Barrick Gold, lying some 40 km north of Stewart; the Mitchell gold-copper
deposit of Seabridge and the nearby Snowdrift gold-copper-molybdenum deposit
of Silver Standard, lying 15 km southeast of the Eskay Creek area, demonstrate
the mineral wealth of the Stewart-Stikine belt. These deposits encompass both
gold-silver rich massive sulphide types and bulk-tonnage
gold-copper-molybdenum intrusive and structurally controlled mineralization.
The Company looks forward to a rewarding field season in 2008 in both of
these intensely mineralized belts. An aggressive program is planned for each
of the properties.
Kenneth M. Dawson, Ph.D., P.Geo. the Qualified Person as defined in
National Instrument 43-101, has read and reviewed this press release for
Golden Dawn Minerals Inc. Dr. Ken Dawson is the project geologist for the
company's Swan Property exploration program. In addition, Eric Ostensoe,
P.Geo., has read and reviewed this press release as the Qualified Person for
the VMS property.
ON BEHALF OF THE BOARD
Mr. David Dobson
THIS PRESS RELEASE WAS PREPARED BY MANAGEMENT WHO TAKES FULL
RESPONSIBILITY FOR ITS CONTENTS. THE TSX VENTURE EXCHANGE NEITHER
APPROVES NOR DISAPPROVES OF THIS PRESS 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.
For further information:
For further information: GOLDEN DAWN MINERALS INC., 3929 WEST 30 AVENUE,
VANCOUVER, BC, V6S 1X2, Telephone: (604) 221-8936, Facsimile: (604) 221-8932