Golden Predator Intercepts 22.86 m of 1.24 g/t Gold from Saddle Zone, Clear
Creek Property, Yukon
TSX: GPD
VANCOUVER, Sept. 23 /CNW/ - Golden Predator Corp. (TSX:GPD) (the "Company") is pleased to announce additional results from its reverse circulation drilling program on its Clear Creek Project. Of particular significance are the results that were returned from RC Hole CC-17 in the Contact Zone which intercepted 2.06 g/t Au over 12.2 m from 70.1 m, RC Hole CC10-25 in the Saddle Zone which intercepted 1.24 g/t Au over 22.86 m from 10.67 m and RC Hole CC10-08 in the Bear Paw Zone which intercepted 0.88 g/t over 21.34 m from 1.52 m. Highlights of the drill results are included in the table below.
"We are excited to see such promising results so far from three of the targeted zones this year," said Chairman and CEO William M. Sheriff. "With the mineralization in each of the zones open-ended, we look forward to more good results building towards the definition of a potential resource on this rapidly evolving project."
Clear Creek
The Clear Creek project, located 65 km northwest of Mayo, Yukon and 59 km due east of Company's Brewery Creek project, comprises approximately 60 km(2) and contains at least five distinct target areas: the Bear Paw, Contact, Saddle, Josephine, and Rhosbegobel Zones. The Saddle Zone is approximately 2.6 km north of the Contact Zone which is in turn 5.0 km northeast from the Bear Paw Zone.
To date the Company has drilled 4 HQ oriented core diamond drill holes totaling 1,054 m and 38 RC drill holes totaling 2,589 m on four of the five separate zones at Clear Creek. Additional results for 11 of the RC drill holes (5 from Bear Paw Zone, 5 from Contact Zone, and 1 from the Saddle Zone) have now been received and analyzed. The Company's Yukon project map showing its property holdings as well as detailed Clear Creek plan maps and drill hole results table are available for viewing on the company's website at http://www.goldenpredator.com/i/pdf/2010-09-23_NR.pdf.
The drill program at the Saddle Zone was designed to test an open-ended 600 meter long Au-As soil anomaly. The drill program at the Contact Zone was designed to test the extent of mineralization associated with a clay-altered silicic dike recognized in prior drilling, and to evaluate sheeted quartz-K-feldspar veins hosted by the tombstone granitic rocks. The drill program at the Bear Paw Zone was designed to test the NE-SW trend of a 1 km long by 250 m wide Au-As soil anomaly.
Anomalous gold values in soil and rock on the Clear Creek property are spatially associated with mid-Cretaceous aged Tombstone plutonic suite granitic stocks and the Bear Paw Breccia Zone. Previously identified mineralization is associated with sheeted veins in and around the stocks as well as with hydrothermal breccias, which are spatially, and possibly temporally, related to the intrusive rocks. The Company's 2010 diamond and RC drilling at Clear Creek focused on further exploring the Bear Paw Zone, the Contact Zone, the Saddle Zone and the Josephine Zone of the Property. No work was planned this year on the Rhosbegobel Zone where Kennecott had previously identified a shallow near-surface gold mineralized area of approximately 40 million tonnes grading 300 ppb Au with a higher grade core of 1.5-2.0 million tonnes grading between 0.75 and 1.25 g/t Au from an east-west trending zone 1,200 m long, 200 m wide and 65 m deep as outlined from 27 RC holes averaging only 73 m in depth (Coombes, 1995). The Clear Creek property is in an active placer mining area that has produced more than 129,000 oz Au (Allen et all, 1999) with no known source.
Results from Golden Predator's other active drilling projects, including results from the 23 additional holes drilled during 2010 at the Clear Creek project, will continue as assays are received. Current year drilling is complete at Antimony, Clear Creek and Cynthia with programs still underway at Gold Dome, Grew Creek and Brewery Creek.
-------------------------------------------------------------------------
Additional 2010 Drill Hole Highlights from the Clear Creek Project, YT
Select Significant Intercepts(1),(2)
-------------------------------------------------------------------------
Drill Hole From To Interval Au
(m) (m) (m) (g/t)
-------------------------------------------------------------------------
Contact Zone
-------------------------------------------------------------------------
CC10-17 70.1 82.3 12.2 2.06
-------------------------------------------------------------------------
including 71.63 76.2 4.57 4.52
-------------------------------------------------------------------------
and 73.15 76.2 3.05 6.27
-------------------------------------------------------------------------
CC10-21 74.68 77.72 3.04 4.52
-------------------------------------------------------------------------
CC10-24 22.86 25.91 3.05 2.62
-------------------------------------------------------------------------
Bear Paw Zone
-------------------------------------------------------------------------
CC10-08 1.52 22.86 21.34 0.88
-------------------------------------------------------------------------
including 16.76 22.86 6.1 1.62
-------------------------------------------------------------------------
CC10-09 41.15 50.29 9.14 1.05
-------------------------------------------------------------------------
including 47.24 50.29 3.05 2.24
-------------------------------------------------------------------------
CC10-13 16.76 24.38 7.62 1.49
-------------------------------------------------------------------------
CC10-16 59.44 60.96 1.52 2.38
-------------------------------------------------------------------------
Saddle Zone
-------------------------------------------------------------------------
CC10-25 10.67 33.53 22.86 1.24
-------------------------------------------------------------------------
(1) Results where g/t x m is less than 2.5 are not reported in this
table, unless the individual grade was (greater than or equal to)
1 g/t gold over a minimum of 1.0 meters. Other intervals require
(greater than or equal to) 0.7 g/t Au to be included.
(2) Conversions: grams per tonne (g/t) to troy ounces per short ton -
g/t divided by 34.2857 or multiply by .0292; meters to feet: 1m
equals 3.28084 feet.
Sampling Methodology, Quality Control and Assurance
The RC drill holes were drilled by track mounted drills that produce a 5" (12.7 cm) diameter drill hole. Samples were collected from 1/8th of the material from a 5 ft (1.5 m) interval utilizing a splitter incorporated on the cyclone.
Samples were sent to ALS Chemex's prep lab in Whitehorse and then forwarded to their ISO 9001 certified preparation facility in Terrace, B.C. The pulps were analyzed at ALS's ISO 9001 certified laboratory in Vancouver. Approximately 5% of the pulps are sent for secondary check assays at Stewart Groups Eco Tech laboratory in Kamloops, B.C. Blanks, commercial standards and duplicate samples were included in each batch. To determine Au levels at the ppb level detection limit 5-10,000 ppb (5-1000 ppb at Stewart Group)) 30 g samples are fire assayed then digested in aqua regia solution and analyzed by atomic absorption. At Eco Tech, values over 1,000 ppb are re-assayed by fire assay and then digested with aqua regia and then re-analyzed by an atomic absorption instrument (detection limit 0.03 g/t). At ALS Chemex, values over 10 g/t gold are re-assayed by fire assay followed by a gravimetric finish (50 ppb lower detection limit).
Other elements are analyzed by a 35 elements package (ME-ICP41) whereby the sample is dissolved in a aqua regia acid solution and then analyzed by ICP. Additional check-analyses are carried out by the lab which did not receive the original sample.
Drilling Sampling Protocol/Chain of Custody/Data Verification
Golden Predator 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 drill to the sample preparation and logging 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. All assays are reported as drilled intervals and are not to be interpreted as true widths.
Readers are cautioned that while the resource estimate presented above is considered to be reliable and relevant it does not use categories as defined in National Instrument 43-101. This resource estimate is based on prior data and reports obtained and prepared by previous operators, and the reader is cautioned that none of the calculations conform to National Instrument 43-101 requirements for reporting reserves and resources. The Company has not done the work necessary to verify the classification of the mineral resource estimate. The Company is not treating the mineral resource estimates as a National Instrument 43-101 defined resource verified by a qualified person. The historical estimates should not be relied upon. The properties will require considerable further evaluation, which the Company intends to carry out in due course.
The technical content of this news release has been reviewed and approved by Corwin (Cor) Coe, A.Sc.T., B.Sc., P.Geo., the Company's Vice-President, Exploration (Canada) and a Qualified Person as defined by National Instrument 43-101.
About Golden Predator Corp.
Golden Predator Corp.'s corporate mandate is to be the leading gold property explorer and developer in Yukon, Canada. The Company has an extensive Yukon property position with an industry leading seven advanced exploration gold projects comprising approximately 1,400 km(2). Drill programs have been initiated on all seven advanced projects and continue at Gold Dome, Brewery Creek, and Grew Creek. Additional results from these programs are pending.
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.
For further information: Golden Predator Corp., Investor Relations, (604) 648-GOLD (4653)
Share this article