VANCOUVER, Feb. 21, 2012 /CNW/ - Golden Predator Corp. (TSX: GPD) (the "Company") is pleased to announce the commencement of its 2012
drill program at its Brewery Creek Project located near Dawson City,
Yukon. This drill program will focus on the expansion of current
resources as well as extension and definition of its three new
discoveries from the 55,000 m 2011 drill program. Golden Predator has
agreed to purchase a 100% interest in the Project, subject to a 2% NSR
(see GPD News Release February 15th, 2012).
2012 Drill Program
Winter drilling has resumed at Brewery Creek as the initial phase of
another major exploration and development program slated for 2012. The
current drilling plan includes condemnation drilling for the expanded
permanent camp facility, planned for construction in mid-2012,
following which expansion drilling will resume along the East and West
Big Rock trend. One diamond core drill began operations on February 16th, with additional reverse circulation and diamond core rigs to be
mobilized in the coming weeks and months as the 2012 program advances.
2012 drill program targets include:
Extension of Sleeman Discovery along strike in both directions and down
Extension of Bohemian-Schooner Discovery to the east and down dip;
Extension and expansion of the Classic Discovery in three directions and
Extension of the West Big Rock Zone to the west;
Extension of the North Slope Zone in all directions;
Extension of the Ice Fog Zone;
Expansion of the remaining resources in the previously mined areas
between and along existing pits;
Initial drill testing of the offset portion of the Classic Zone; offset
portion has never been drilled and is an order of magnitude larger in
outcrop than the drilled segment;
Initial drill testing of other high-priority coincident geochemical and
Condemnation drilling of proposed new heap or in-valley leach sites; and
Geotechnical drill tests of known resources for additional metallurgy
and rock mechanics.
Brewery Creek Project Update
The Company completed 344 core and RC holes for 55,453 m at Brewery
Creek in 2011. The 2011 drilling was concentrated on delineating the
three 2011 discoveries at the Bohemian-Schooner, Sleeman and Classic
Zones, with significant additional drilling on the North Slope Zone.
Current year drilling will concentrate on further expansion of the
Sleeman, Classic and Bohemian Schooner Zones as well as exploration of
a number of quality targets resulting from 2011 geochemical and
geophysical surveys of the Project area.
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 200 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 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 Mining license with an expiry date
of December 31, 2021. In addition, a Socio-Economic Accord with
Tr'ondek Hwech'in First Nation with respect to the Brewery Creek
Project is in place.
The Company anticipates receiving a NI 43-101 compliant resource
estimate, currently underway, in April 2012. The resource estimate will
includes all results from the 2011 drill program, which will be
released on completion of QA/QC review.
The technical content of this news release has been reviewed and
approved by Michael Maslowski, BSc, PGeo, the Company's Vice President,
Exploration (Canada) and a Qualified Person as defined by National
About Golden Predator Corp.
Golden Predator Corp., Yukon's Gold Company, is mandated to become a mid-tier gold producer. Golden Predator's
road-accessible advanced properties include its flagship Brewery Creek
Project at which the Company is moving aggressively to a near term
production decision, as well as its Grew Creek and Clear Creek
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)