VANCOUVER, Jan. 9, 2012 /CNW/ - Golden Predator Corp. (TSX:GPD) (the "Company") is pleased to announce the results of nine additional
diamond drill holes from the Sleeman Zone at its flagship Brewery Creek
Project, where the Company continues to define a zone of continuous
gold and silver mineralization now extending at least 450 m along
strike. All of the holes released contained significant gold
mineralization with five of the holes having from two to four distinct
mineralized zones. Highlights of the current release include:
BC11-323 with 35.1 m of 1.63 g/t gold and 136.72 g/t silver including
20.70 m of 2.43 g/t gold and 226.23 g/t silver from depth of 142.84 m;
BC11-335 with 29.7 m of 1.18 g/t gold from depth of 174.3 m; and
BC11-341 with 10.7 m of 4.06 g/t gold from depth of 22.0 m.
"The continuity of the gold and silver grades, and the thickness of the
Sleeman Zone continues to exceed expectations," said Chairman William
M. Sheriff. "With Sleeman remaining open in all directions, we look
forward to our aggressive 2012 drill program to continue to expand this
A complete table of results and location map can be found on the
Company's website at:
Sleeman Zone Geology
Mineralization at the Sleeman Zone is hosted in altered intrusive rocks
occurring as a tabular zone dipping moderately to the south‐southwest.
To date, gold mineralization has been drilled to a vertical depth of
approximately 200 m from surface, extends horizontally well over 400 m,
and is open in both directions along strike and down dip. The
geochemical signature of the gold bearing zone at Sleeman is distinctly
elevated in lead, zinc and silver. A 16.5 line km IP survey was
completed in late 2011. Surface geochemistry, magnetics and IP all
support the existence of a potential target well in excess of 1 km in
strike length. The Sleeman Zone deposit is currently open at depth as
well as in both directions along strike.
Brewery Creek Project
The Company completed 209 core holes for 31,210 m and 135 RC holes for
24,243 m at Brewery Creek in 2011. Drilling has been concentrated on
delineating the two 2011 discoveries at the Bohemian-Schooner and
Sleeman Zones, with significant additional drilling on the North Slope
and Classic Zones. Results are still pending for 124 core and RC holes.
Resource modeling in support of an updated resource estimate is well
The Brewery Creek Project is a past producing heap leach gold mining
operation with a total of 278,484 oz Au produced from seven
near-surface oxide deposits along the property's Reserve Trend from
1996 through 2002, when the mine (operated by Viceroy Resource
Corporation) shut down due to low gold prices. The 187 km2 property is located 55 km due east of Dawson City, accessible by paved
and gravel roads from the junction of the North Klondike and Dempster
Highways. In May 2011 the Company staked an additional 204 quartz
claims east of the historic Brewery Creek property, increasing the
Project to a total of 997 quartz claims.
The Project is in receipt of all necessary permits, including the Class
3 Mining Land Use permit required to conduct additional exploration.
The Brewery Creek Project is authorized under a Type A Water License
with an expiry date of December 31, 2021, subject to the restrictions
and conditions contained in the Yukon Water Act and Regulations. The
Project also has a production license with an expiry date of December
31, 2021, and the ninety-three mining leases covering mine facilities,
pits, waste dumps and adjacent drill indicated deposits have expiry
dates beginning in 2016. In addition, a Socio-Economic Accord with
Tr'ondek Hwech'in First Nation with respect to the Brewery Creek
Project is in place.
Sampling Methodology, Quality Control and Assurance
Samples were fire assayed for gold by ALS Chemex and ACME Laboratories
in Vancouver. All assays are reported as drilled intervals and are not
to be interpreted as true widths. Refer to the Company's news release
dated October 27, 2011 for a complete discussion of sampling methods,
quality control and assurance.
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., Yukon's Gold Company, is a well-funded exploration company mandated to create a mid-tier gold
producer. Golden Predator's road-accessible advanced properties include
its flagship Brewery Creek Project on which the Company is moving
aggressively to a near term production decision, as well as its Grew
Creek and Clear Creek Projects.
Golden Predator has the largest controlled land position in the Yukon,
with exploration holdings in excess of 1,400,000 acres (over 5,700 km2), and is committed to strong relationships with Yukon First Nations and
communities. Golden Predator's management and technical teams continue
to lead aggressive exploration programs in the underexplored regions of
the Yukon, and are driven to bring value to shareholders and leave a
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.
William M. Sheriff, Chairman & Chief Executive Officer
(604) 648-GOLD (4653)