Golden Predator Intersects 6.07 gpt Gold over 8.30 m including 16.42 gpt Gold
over 3.05 m from the South Fosters Zone at Brewery Creek
TSX: GPD
Brewery Creek was the site of a heap leach gold mine which operated from 1996-2002 and produced 279,541 ounces of gold. Current resources remaining on the property include an Indicated Resource of 3.98 million tonnes grading 1.135 gpt gold and an Inferred Resource of 2.2 million tonnes averaging 2.01 gpt Au (Diment and Simpson, 2009).
The Company's 2009 drilling program at Brewery Creek targeted both shallow oxide and deeper sulfide gold mineralization to expand upon this known resource. Drilling on the Pacific, North Slope and Blue zones tested for potentially higher grade gold mineralization as well as possible bonanza grade feeder structures beneath previously mined areas. Results from the first five holes, BC09-132 to BC09-136 from the Pacific zone were reported by the Company on
A late season drilling program using a skid mounted drill was initiated in mid-October after freeze up conditions prevailed on the property. The program was designed to expand the oxide resource at the un-mined South Fosters zone. The present Indicated Resource at South Fosters stands at 961,900 tonnes at a grade of 1.387 gpt gold for a total in-situ resource of 42,900 ounces of gold (Diment and Simpson, 2009). An update to this resource will be announced once the results have been compiled.
The South Fosters zone appears to have some internal complexities with significant intercepts adjacent to un-mineralized rock. Additional drilling in these areas will be required to determine if there is potential for deeper sulfide mineralization beneath the known gold mineralization discovered to date. The Company is now planning its 2010 field program, which will be designed to further delineate these and other higher grade targets as well as expand the un-mined oxide mineralization that makes up the majority of the Indicated Resources on the property.
------------------------------------------------------------------------- 2009 Drill Highlights from the Brewery Creek Project, YT Select Significant Intercepts (greater than) 0.5 gpt Au ------------------------------------------------------------------------- Drill Hole No. From To Interval Au Interval Au (m) (m) (m) gpt (ft) opt ------------------------------------------------------------------------- BC09-146 28.96 36.28 7.32 1.13 24.02 0.033 ------------------------------------------------------------------------- 49.70 51.15 1.45 1.08 4.76 0.032 ------------------------------------------------------------------------- ------------------------------------------------------------------------- BC09-147 46.05 54.35 8.30 6.07 27.23 0.177 ------------------------------------------------------------------------- Including 47.24 50.29 3.05 16.42 10.01 0.479 ------------------------------------------------------------------------- ------------------------------------------------------------------------- BC09-148(1) 76.20 78.94 2.74 0.97 8.99 0.028 ------------------------------------------------------------------------- ------------------------------------------------------------------------- BC09-149(1) 53.75 57.91 3.40 1.34 11.15 0.039 ------------------------------------------------------------------------- ------------------------------------------------------------------------- BC09-151 39.27 44.40 6.73 1.80 22.08 0.053 ------------------------------------------------------------------------- ------------------------------------------------------------------------- BC09-153 30.90 34.90 4.00 3.41 13.12 0.099 ------------------------------------------------------------------------- ------------------------------------------------------------------------- BC09-156 37.85 41.85 4.00 1.06 13.12 0.031 ------------------------------------------------------------------------- 43.10 46.20 3.10 1.90 10.17 0.055 ------------------------------------------------------------------------- 48.20 50.29 2.09 0.94 6.86 0.027 ------------------------------------------------------------------------- ------------------------------------------------------------------------- BC09-159 42.03 44.86 2.83 6.79 9.28 0.198 ------------------------------------------------------------------------- ------------------------------------------------------------------------- BC09-160 26.42 30.31 3.89 2.41 12.76 0.070 ------------------------------------------------------------------------- 54.86 62.00 7.14 3.24 23.43 0.095 ------------------------------------------------------------------------- ------------------------------------------------------------------------- BC09-161 28.32 36.45 8.13 1.59 26.67 0.046 ------------------------------------------------------------------------- 57.77 60.82 3.05 2.47 10.01 0.072 ------------------------------------------------------------------------- (1) Hole ended in mineralization
Quality Assurance - Quality Control
ACME Analytical Laboratories of
QA/QC procedures followed for the diamond drilling program include submittal of assay standards for analysis approximately every 30 samples as well as a blank and a duplicate sample of quarter core at approximately the same frequency.
All assays are reported as drilled widths and are not to be interpreted as true widths. Ken Galambos, P.Eng, Senior Project Geologist is the Qualified Person for the Company's Brewery Creek project and is responsible for the technical content of this news release.
Fiscal Year End Change
The Company also announces that it has changed its fiscal year end to
About Golden Predator Royalty & Development Corp.
Golden Predator's corporate mandate is to establish a self-funded precious metals exploration company.
The Company is focused on exploring for and developing world class gold deposits in the Yukon's Tintina Gold Belt, where the Company is aggressively exploring its Eureka, Gold (Scheelite) Dome, Antimony Mountain, Clear Creek and the Brewery Creek projects.
The Company is advancing its
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 Royalty & Development Corp., Investor Relations, (604) 648-GOLD
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