VANCOUVER, Sept. 26, 2011 /CNW/ - Golden Dawn Minerals Inc. (TSX-V: GOM; FRANKFURT: 3G8), (the "Company" or "Golden Dawn") is
pleased to announce that it has signed a Letter of Intent with
Lichtfield del Peru S.A.C. of Lima, Peru, whereby Lichtfield may earn a
50% interest in its Boundary Falls property, three kilometers from the
town of Greenwood, BC, by funding the exploration and development of
the historical May Mac gold-silver mine, including the processing of a
10,000 tonne bulk sample. Lichtfield's contribution will be up to $1.8
million, of which $1.4 million will be directed toward refurbishing the
historical adit access, underground exploration, surface exploration,
permitting and drifting to new mineralized zones.
It is anticipated that this work will commence immediately upon receipt
of the necessary permits for the upgrading of existing adits to current
standards and bulk sampling. The mine is currently permitted with an
adjoining 100 tonnes per day mill and permitted tailings pond.
Mike Dufresne, P.Geol of Apex Geoscience Ltd. (APEX) will supervise all
surface exploration and the Lichtfield Group will supervise and carry
out all underground operations, supply all equipment and skilled labour
and deploy their expertise in mining high grade narrow vein underground
The Lichtfield Group has been and is one of the largest underground
mining contractors in Peru. The incoming partner, Lichtfield del Peru
S.A.C. has operations in several mines including Pan American Silver,
Vinchos Mining Company (operator of Volcan Mining subsidiary), Los
Quenuales Mining Company, Minsur, Barrick (Laguna Norte Operation) and
Atacocha Grupo Votorantim. "The association with Lichtfield in the
Canadian mining arena is an important milestone for our Company, and we
are really looking forward to a continued beneficial relationship
between our companies as exploration proceeds on our properties in the
greater Greenwood Mining District.", says Wolf Wiese, the Chief
The May Mac mine was intermittently developed and mined between 1900 and
1983 on two veins (referred to as the Lower and Upper Skomac veins),
accessed by seven adits (horizontal tunnels). Production records and
unconfirmed information suggest that during that period, some 3,600
metric tonnes (4,000 tons) of mineral were mined, containing some 350
troy ounces (oz) of gold and 100,000 oz of silver. Note that these data
are unconfirmed and have not been verified.
The May Mac property is very well mineralized. The veins encountered to
date occur within a favorable meta-sediment belt over one kilometer
long and up to 200 metres in width. Although the majority of the
property is covered by a mantle of overburden, at least ten other
parallel vein outcrops have been encountered (in addition to the two
veins developed). Furthermore, short-hole underground diamond drilling
has intersected an additional five parallel veins in close proximity to
the Upper Skomac vein. Still other mineralized occurrences include
glory-holes (small pits) on brecciated zones. Finally, strong
geochemical and geophysical anomalies have been encountered in still
other overburden-covered areas.
In summary, substantial potential for production is suggested from the
tenor of both vein material left by previous operators, and mineral
disseminations in the adjacent wall-rocks, considered uneconomic during
previous development and mining campaigns. It should be noted that the
companies that conducted mining at the May Mac mine and surface
exploration on the Boundary Falls property were underfunded, and
unavailability of modern geological techniques resulted in poor data
The Company recently completed surface geochemical sampling, conducted
under the supervision of APEX, that returned several areas anomalous
for copper, gold, silver, zinc and lead which require follow-up and
drilling. A land use permit application for surface drilling has been
submitted and is in progress.
Currently the Company is diamond drilling on the Wild Rose-Tam O'Shanter
property, contiguous to the North of the Boundary Falls property, where
a resource of 286,000 oz of gold in the inferred category (See GOM News
Release dated July 13, 2011) has been delineated by the Company.
There are no known mineral resources on the Boundary Falls property.
Historical references are related here for background information only.
There is no assurance that any mineral resource will be located on the
property, or if located that such mineral resource might be profitably
The contents of this press release have been reviewed and verified by W.
Ash, P.Eng., and Mike Dufresne, P.Geol., Qualified Persons, as defined
by National Instrument 43-101.
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.
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