VANCOUVER, Feb. 23, 2012 /CNW/ - Golden Predator Corp. (TSX: GPD) (the "Company") is pleased to announce results from the final 47 RC holes from its 2011 drill program at its Grew Creek Project, Yukon. Of these 47 holes, 19 were extensional or in-fill drilling at the Carlos Zone, and 28 were exploration holes in various locations across the expansive property. Drilling at the Carlos Zone returned significant mineralization in 12 of 19 holes including:
- GCRC-284 with 24 m of 3.24 g/t gold from a depth of 216 m;
- GCRC-325 with 76 m of 1.97 g/t gold from a depth of 24 m including 6 m of 8.49 g/t gold and 20.0 g/t silver;
- GCRC-326 with 76 m of 2.22 g/t gold from a depth of 24 m including 2 m of 15.55 g/t gold and 43.0 g/t silver;
- GCRC-327 with 78 m of 1.20 g/t gold from a depth of 26 m;
- GCRC-328 with 68 m of 5.96 g/t gold and 24.1 g/t silver from a depth of 32 m including 4 m of 63.15 g/t gold and 344.0 g/t silver; and
- GCRC-329 with 60 m of 1.86 g/t gold from a depth of 40 m including 2 m of 22.0 g/t gold.
"The grade and continuity of the Carlos Zone continues to exceed our expectations," said William M. Sheriff, Chairman & CEO. "With new exploration permits in place we can follow-up on our promising results at the Knoll Zone and explore other high priority targets now accessible throughout the Grew Creek Project."
A complete table of results, location maps and additional geological information can be found on the Company's website at:
The Grew Creek Project is located 32 km southwest of Faro and 24 km northwest of Ross River, Yukon. The property's 134 km2 encompasses 666 quartz claims, extending along both sides of the Robert Campbell Highway for approximately 27 km with power lines traversing the Project area.
The Carlos Zone
The Carlos Zone at Grew Creek is an epithermal gold discovery in Eocene volcanic rocks located along the Tintina Trench that bears similarities to significant Nevada deposits including Sleeper and Midas. The Company's 2010 drill program defined important structural controls and orientations of high-grade veining, and the 2011 drill program was intended to further define these controls and the distribution of higher-grade mineralization. 2011 results support the current interpretation of structurally controlled epithermal gold mineralization. This new data extends known mineralized trends down dip, along both strike directions, and through areas where prior drilling was sparse; the Carlos Zone remains open at depth but appears to be cut off along strike.
District Reconnaissance Exploration
The Company also conducted a district-wide, first phase exploration program with 28 RC holes across six targets. Of these, the Knoll Zone returned the most encouraging results including:
- GCRC-298 with 12 m of 0.54 g/t gold from a depth of 68 m;
- GCRC-300 with 8 m of 0.30 g/t gold from a depth of 10 m and 18 m of 0.30 g/t gold from a depth of 76 m;
- GCRC-302 with 48 m of 0.34 g/t gold from a depth of 48 m
The Knoll Zone
The Knoll Zone is characterized by outcropping silicified epiclastic sediments with chalcedonic coliform quartz veining, which likely represent the same sequence of epiclastic sediments encountered in the weakly mineralized hangingwall at the Carlos Zone. These results are interpreted as potentially being in the hangingwall of another mineralized structural zone such as the Carlos Zone. Additional drilling will be directed toward discovery of higher grade mineralization along a major structure lying adjacent to the anomalous mineralization. The Knoll Zone lies 2.5 km southeast along strike from the Carlos Zone.
Sampling Methodology, Quality Control and Assurance
Samples were fire assayed for gold by ALS Chemex in Vancouver and Reno. All assays are reported as drilled intervals and are not to be interpreted as true widths. Refer to the Company's news release dated May 26, 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 43‐101.
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 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 positive legacy.
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.
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