WHITEHORSE, YT, Jan. 24, 2013 /CNW/ - Golden Predator Corp. (TSX: GPD) (the "Company") is pleased to announce the results of its early stage
soil and rock chip sampling programs from 2011 and 2012 from the Rogue
A, B and F properties located in the central Selwyn (Figure 1).
On the Rogue B property, the Company has discovered an area of
high-grade gold mineralization exposed over an area of approximately 1
km x 1 km that it is calling the Valley Gold area. The gold
mineralization is associated with arsenopyrite-bearing quartz veins,
breccias and stockworks hosted in Cretaceous quartz monzonite intrusive
and peripheral siltstone and chert of the Paleozoic Road River and Earn
Groups. A total of forty-eight rock chip samples were collected from
the Valley Gold area and twenty-four (50%) returned values over 0.48
g/t gold. Twelve of the forty-eight rock chip samples (25%) returned
gold values greater than 4.32 g/t gold with a high value of 152.0 g/t
gold. The 2012 sampling program was guided by gold anomalous stream
sediment samples from Golden Predator's 2011 generative program.
A table and location maps can be found on the Company's website at:
Rogue B Property
The Rogue B property is located in the Old Cabin Creek drainage
immediately north of the Emerald Lake Pluton in the central Selwyn
Basin, Yukon Territory (Figure 1). The property is being explored by
the Company targeting gold mineralization, centered on and peripheral
to, a cluster of mid-Cretaceous age plutons in the Emerald Lake area.
Golden Predator's 2011 stream sediment program defined an area (~25 km2) of gold mineralization west of the small quartz monzonite pluton at
Arrowhead Mountain. Sampling in 2011 and 2012 has identified three
areas of gold mineralization along an 8 km east-west trend; the Valley
Gold, Gracie and Arrowhead Pass areas (Figure 2). The continuity of
gold mineralization along strike between the zones is currently unknown
and the width of the zone is only locally constrained by sampling and
ranges from 200 to 300 m.
Sampling at three areas over 1 km that generally parallels the sediment
intrusive contact returned the following results at the Valley Gold
area (Figure 3). The highest grade samples were collected 100 m from
the intrusive contact in brecciated and silicified siltstone and chert
with quartz veining and disseminated arsenopyrite with seven samples
containing greater than 4.78 g/t gold with a high of 152.0 g/t gold.
A second sampling site, 200 m west of the seven high grade samples,
returned values of 10.10 g/t gold and 5.06 g/t gold from
quartz-arsenopyrite veins and stockworks hosted in quartz monzonite.
A third sampling site, approximately 600 m west of the second site is an
outcrop of variably hornfelsed siliciclastics and quartz monzonite
exposed in the valley floor. A channel sample from a
quartz-arsenopyrite vein parallel to the quartz monzonite contact
returned a value of 4.20 g/t gold over 8.12 m including 1.28 m of 12.20
g/t gold. A channel sample from an adjacent outcrop with arsenopyrite
veinlets in shale returned a value of 4.32 g/t gold over 3.42 m. Chip
samples from outcrops 65 to 70 m northwest and southeast returned
values of 18.30 and 1.63 g/t gold from pyrrhotite hornfels and 3.55,
2.33 and 0.90 g/t gold from quartz veinlets, up to 10 cm wide, cutting
quartz monzonite (Figure 3).
Approximately 300 m north of the intrusive contact an outcrop of clay
altered siltstone with quartz-arsenopyrite stockworks adjacent to a
quartz monzonite dike returned a value of 0.96 g/t gold over 4.0 m from
a channel sample perpendicular to the strike of the dike (Figure 3).
The Gracie area is located 4 km east of the Valley Gold area and gold
mineralization is localized along a northeast trending, steeply dipping
fault zone cutting hornfelsed sediments of the Paleozoic Earn Group
(Figure 2). A total of 144 rock chip samples were collected in 2011
and 2012 over an area of 1 km by 1 km and 105 samples returned values
above detection (10 ppb) and 30 of the samples returned values greater
than 0.40 g/t gold with a high value of 57.00 g/t gold. Gold
mineralized talus/float samples have been collected on both sides of a
steep arête for approximately one km along the strike of the
structure. The 57.00 g/t gold sample was from silicified siltstone
talus-float with quartz-arsenopyrite-pyrite stockworks.
The Arrowhead Pass area is located 3 km east of the Gracie area adjacent
to a small quartz monzonite pluton. A total of 15 rock samples (float)
were collected over an area of 0.5 km by 0.5 km and all returned values
above detection (10 ppb gold) and six samples returned gold values
greater than 1.00 g/t gold with a maximum value of 7.51 g/t gold. Soil
samples (talus fines) collected along a 4 km soil contour line returned
a continuous 700 m section of samples (50 m spacing) with values
greater than 30 ppb gold. The gold mineralization occurs as
quartz-arsenopyrite-pyrite-chalcopyrite veins in quartz monzonite and
hornfels and as silicification with disseminated arsenopyrite in quartz
Geologic mapping and gold geochemistry from the Rogue B property define
an east-west trending zone approximately 8 km in length and an
undetermined width with gold mineralization hosted in intrusive
lithologies and in fine-grained, variably hornfelsed sediments proximal
to the intrusive contact. Gold mineralization is associated with
quartz-arsenopyrite veins and stockworks.
Rogue A Property
A total of 148 rock samples were collected from the Rogue A property
with 88 samples returning values above detection (10 ppb gold) (Figure
4). The gold mineralization is believed to be intrusion related with
elevated base metal and bismuth values. Mineralization consists of
quartz-arsenopyrite stockworks and veins and replacement skarn
developed in Cambrian age carbonate and volcanic lithologies peripheral
to the mid-Cretaceous Old Cabin stock. Two samples returned values of
9.97 and 3.49 g/t gold from quartz-arsenopyrite veining in chert
approximately 2.5 km from the intrusion. Sampling in the vicinity of
the Horn Minfile occurrence 8 km west of the intrusion returned values
of 3.22 and 1.52 g/t gold from tremolite-actinolite-chlorite skarn from
a grab sample and a 1 m channel sample perpendicular to bedding
Rogue F Property
The Rogue F property is located 22 km northeast of the Rogue B
property. A total of 575 ridge and spur, soil samples and 32 rock chip
samples were collected from two separate areas in drainage basins with
gold anomalous stream sediment samples. A total of 243 soil samples
returned gold values above detection (10 ppb gold) and 23 samples had
gold values greater than 50 ppb with a high value of 180 ppb. The soil
samples with higher gold values also returned higher values of arsenic
(163 ppm high), mercury (3.33 ppm high) and antimony (63.0 ppm high)
that are commonly associated with Carlin style gold mineralization.
Five rock samples returned values above detection (10 ppb) with a high
of 20 ppb gold.
Stratigraphy on the Rogue F property consists of shale and chert
lithologies of the Road River Group and lesser clastic/carbonate
lithologies of the Hyland Group. Carbonate-rich lithologies within the
Hyland Group host Carlin style gold mineralization to the northwest of
the Rogue F block on claims held by ATAC Resources Ltd., Strategic
Resources Ltd. and Anthill Resources Ltd.
Sampling Methodology, Quality Control and Assurance
Rock and soil samples were sent to the AGAT Laboratories ISO 9001
certified preparation laboratory in Whitehorse, Yukon where
representative 250 gram pulps were prepared. The soil sample pulps
were obtained from the -80 mesh size fraction. The pulps were analyzed
at AGAT's ISO 9001 certified laboratory in Mississauga, Ontario. Blank
and commercial standard samples were routinely inserted into the sample
stream every 25 samples by the Company. The samples were analyzed
using AGAT's 201 074 ICP-MS method which digests a 1 gram sample in hot
aqua regia for one hour with analysis by ICP-MS. A total of 51
elements are reported. Gold and silver analytical ranges are 0.01-25
ppm and 0.01-100, respectively. All over-limit gold values are
re-analyzed by a 30 gram Fire Assay with a Gravimetric finish.
The Company employs high standards of protocol with respect to the
handling and chain of custody of its samples. All sampling is
conducted under the supervision of the Company's project geologist and
the chain of custody from the field to the sample preparation facility
is continually monitored by the project geologist. Samples are shipped
to the lab by qualified couriers or Company personnel under locked bags
with independent identification lock numbers. Data verification of the
analytical results includes a statistical analysis of the duplicates,
standards and blanks that must pass certain set parameters for
acceptance to insure accurate and verifiable results.
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. announced on January 18, 2013 a planned change of
name to Gold Bullion Royalty Corp., in order to focus entirely on
royalty and streaming by building on its existing portfolio of 34
projects. Our wholly owned subsidiary Golden Predator Canada Corp.
will continue to advance the Brewery Creek Project as a separate entity
to be divested to shareholders by spin-out or similar transaction.
Gold Bullion Royalty Corp. will focus on royalty and streaming assets
providing revenue as well as lower risk exposure to shareholders
through project diversity in first world jurisdictions. The Company's
existing portfolio is highlighted by Gross in-kind Royalties on Midway Gold's Pan and Gold Rock deposits, as well as 2
separate projects encompassing more than 34 square miles at Barrick's
Bald Mountain project in Nevada.
The Company holds additional royalties including a Net Smelter Royalty
on the Taylor Silver project and a portion of the Tonkin Springs
project also in Nevada. The entire package comprises more than 100,000
acres located primarily in Nevada, with 7 of the projects located in
Wyoming, Oregon, California and Mexico. Current royalty revenue is
anticipated to experience acceleration as early as 2014 as several of
these projects begin to advance. As Gold Bullion Royalty Corp., the
Company's royalty portfolio is unique in the mineral development
industry due to its ability to receive the majority of projected
revenues in-kind (gold bullion as opposed to cash).
Golden Predator Canada Corp. will remain the Yukon's Gold Company, and will be mandated to become the Yukon's next gold producer by
advancing its 100% owned Brewery Creek Project with a production goal
of 2014. The Company has an extensive exploration portfolio in the
Yukon including advanced road accessible assets at Clear Creek, Grew
Creek and Gold Dome along with the Cache Creek and Rogue projects in
the Selwyn Basin. Golden Predator Canada Corp. will continue to have
one of the largest controlled land positions in the Yukon, and is proud
of their demonstrated commitment to strong relationships with First
Nations and local communities.
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.
The mineral resource estimates referenced in this news release use the
terms "Measured Mineral Resources" and "Indicated Mineral Resources."
U.S. readers are cautioned that these terms are defined in and required
by Canadian regulations, however these terms are not defined terms
under guidelines prescribed by the U.S. Securities and Exchange
Commission ("SEC"). The SEC normally only permits issuers to report
mineralization that does not constitute SEC compliant "reserves" as
in-place tonnage and grade without reference to unit measures. U.S.
investors are cautioned not to assume that any part or all of mineral
deposits in these resource categories will ever be converted into
reserves, or that reserves reported in this news release equate to
reserves as defined in SEC guidelines.
SOURCE: Golden Predator Corp.
For further information:
Golden Predator Corp.
William M. Sheriff, Chairman & Chief Executive Officer