Golden Predator Confirms Continuity of High Grade Gold from Surface at 3 Aces’ Bulk Sample Target, Intersects 4.64 oz/t (158.97 g/t) Gold over 7.5 Feet
Vancouver, British Columbia (FSCwire) - Golden Predator Mining Corp. (TSX.V: GPY) (the “Company” or “Golden Predator”) is pleased to announce the Company has completed a tightly spaced Rotary Air Blast (RAB) drill program confirming gold mineralization in advance of bulk sampling from the Sleeping Giant vein at the 3 Aces project. Gold mineralization was intersected in all holes sampled at or near the surface, including:
- Hole 3ARAB15-11 with 2.5 ft from surface of 9.73 oz/t (333.50 g/t) gold;
- Hole 3ARAB15-05 with 2.5ft from surface of 6.84 oz/t (234.50 g/t) gold;
- Hole 3ARAB15-12 with 7.5ft from surface of 3.04 oz/t (104.39 g/t) gold; and
- Hole 3ARAB15-13 with 7.5 ft from surface of 4.64 oz/t (158.97 g/t) gold
RAB Drill Program
A total of 13 shallow holes totaling 150 ft (45.73m) were drilled in preparation for bulk sampling from the Sleeping Giant vein. Drill samples were collected downhole at 2.5 ft (0.76m) intervals on an irregular grid (see map) covering an area of approximately 50 ft by 20 ft (15.24m by 6.10m) with hole depths ranging from 6.5 ft (1.98m) to 13.5 ft (4.12m). Drill holes were collared in the outcropping vein (hanging wall) where exposed from earlier trench and road work, and oriented for true-width intersection.
Drill holes were designed to collect a large volume sample, varying from 17.6 pound to 63.8 pounds (8 to 29 Kg), and were capped for use in blasting of the planned bulk sample. Drill holes 3ARAB15-01 and 10, located at the eastern end of the drilled section of the vein intersected a moderately dipping fault which cuts off the vein. All other drill holes were terminated in the quartz vein at the planned depth for blasting of the initial bulk sample. Holes 09 and 10 were collared in argillite and were not sampled until the vein was intercepted substantiating the continuation of the vein beneath the argillite. The western portion of the vein was not able to be drilled due to topographic constraints and remains open.
The drilling program was designed to test a portion of the Sleeping Giant vein where previous channel sampling by Golden Predator (formerly Northern Tiger Resources Ltd.) returned grades up to 3.88 oz/t (132.91 g/t) gold over 22.63 feet (6.9 m)(1), and metallurgical testwork from a 1,366 pound (620kg) sample (sample BS-3A13-03) that returned a metallic screen gold assay of 6.29 oz/t (215.5 g/t) gold and reported gravity recoverable gold of 78.9% and overall gold recovery of 97.9%(2).
| Sleeping Giant Zone - RAB Significant Results Table | |||||
| Hole | From (ft) | To (ft) | Thickness (ft)1 | Au oz/t2 | Au g/t3 |
| 3ARAB15-01 | 0.00 | 2.50 | 2.50 | 1.39 | 47.60 |
| 3ARAB15-02 | 0.00 | 5.00 | 5.00 | 1.51 | 51.91 |
| 3ARAB15-03 | 0.00 | 2.50 | 2.50 | 1.92 | 65.75 |
| 3ARAB15-04 | 0.00 | 2.50 | 5.00 | 0.75 | 25.75 |
| 3ARAB15-05 | 0.00 | 2.50 | 2.50 | 6.84 | 234.50 |
| 3ARAB15-06 | 0.00 | 5.00 | 5.00 | 2.74 | 93.98 |
| 3ARAB15-07 | 0.00 | 5.00 | 5.00 | 1.54 | 52.70 |
| 3ARAB15-08 | 0.00 | 7.50 | 7.50 | 1.93 | 66.02 |
| 3ARAB15-09 | 2.30 | 5.00 | 2.70 | 1.47 | 50.55 |
| 3ARAB15-10 | 2.00 | 5.00 | 3.00 | 1.00 | 34.45 |
| 3ARAB15-11 | 0.00 | 10.50 | 10.50 | 3.17 | 108.54 |
| including | 0.00 | 2.50 | 2.50 | 9.73 | 333.50 |
| 3ARAB15-12 | 0.00 | 7.50 | 7.50 | 3.04 | 104.39 |
| including | 0.00 | 2.50 | 2.50 | 3.31 | 113.65 |
| including | 5.00 | 7.50 | 2.50 | 5.37 | 184.25 |
| 3ARAB15-13 | 0.00 | 7.50 | 7.50 | 4.64 | 158.97 |
| including | 0.00 | 2.50 | 2.50 | 8.08 | 277.00 |
| including | 5.00 | 7.50 | 2.50 | 5.32 | 182.25 |
- Drill intercepts are reported as true thickness intervals.
- Au grades are reported in troy ounces per short ton
- Au grades are reported in grams per metric tonne
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Sleeping Giant Zone
The Sleeping Giant Zone, accessible via an exploration dirt road, encompasses an area approximately 33,000 m2 defined by float and outcrops of quartz veins. To date, it contains one of the 3 Aces property’s two preferred continuous quartz veins offering potential for bulk sampling. The Zone consists of a number of outcropping targets consisting of gently to moderately dipping gold-bearing quartz veins. Located along the road cut on the southern part of the Sleeping Giant Zone, the veins’ apparent dip slope is exposed for about 25m along strike on the north side of the road.
2015 Bulk Sample Program
After evaluation of the current drilling results, the Company has refined its plan for the bulk sample at the Sleeping Giant Zone where it now expects to initially extract and ship approximately 550 short tons (500 tonnes) of high grade vein material. The program is anticipated to target the top 2.5 feet (0.76m) to 7.5 feet (2.29m) of the vein as dictated by 3-D analysis of the RAB drill results. The Company may continue to extract additional tonnage within the confines of our permit at the Sleeping Giant vein based on conditions and grade encountered following the initial blast and extraction. The bulk sample will be conducted in a manner attempting to preserve any possible occurrences of specimen value rock prior to bagging the broken sample into super sacks designed for shipping the ore to a processing facility. The material will be transported off site and is planned to be processed in its entirety to not only recover gold but to further advance the Company’s understanding of the distribution of the coarse gold particles and provide additional baseline data that can be used in designing a process flow sheet for this type of material.
The Company is engaged in logistical planning and negotiating potential processing options. The Company has a Class 3 exploration permit allowing up to 2,000 cubic meters (approx. 5,000 tonnes) of bulk sampling.
3 Aces Project, Yukon
The 3 Aces property consists of 1,118 contiguous quartz claims (23,000 hectares) located in southeast Yukon. The property is located along the all-season Nahanni Range Road which accesses the Cantung Mine located 40 kilometres to the north.
The 3 Aces property contains a number of quartz veins and vein zones that cut Cambrian aged limestone, shale, quartz grits and pebble chert conglomerates of the Hyland Group. Previous sampling and exploration by Golden Predator (formerly Northern Tiger) has outlined extensive gold-in-soil anomalies over nine square kilometres, including numerous high grade gold showings.
The 3 Aces property is located in the traditional territory of the Kaska Nation. In January 2013, Golden Predator signed an Exploration Agreement with the Kaska Nation, as represented by the Ross River Dena Council and the Liard First Nation, with respect to activities within their traditional territories.
Sampling Methodology, Quality Control and Assurance
The RAB sampling was conducted under the direct supervision of Mike Burke, Chief Geologist for Golden Predator. Fifty individual samples were collected, bagged, security-tagged and maintained in Company custody until delivery to ALS’ Whitehorse sample preparation facility.
Previous metallurgical work(2) established that a 2,000 gram pulp and screen metallic assaying is an appropriate method to obtain reliable gold grades from the high grade gold veins. All analyses for the drill samples from the 2015 program were performed by ALS with sample preparation in Whitehorse, YT and assaying in North Vancouver, BC. Two one kilogram splits were collected from each drill sample and were analyzed for gold using Screen Metallics Gold (Au-SCR21) procedure. Reported grades are the average of the two splits.
No field-split samples were submitted and samples consisted entirely of whole interval cuttings. Quality control and assurance consisted of 7% laboratory duplicates. No standard reference materials were analyzed in conjunction with the drill samples. The RAB sampling results are consistent with previous results (1)(2) and considered of sufficient quality for internal bulk sampling feasibility and planning purposes.
The technical content of this news release has been reviewed and approved by Mark C. Shutty, CPG, a Qualified Person as defined by National Instrument 43-101 and a consultant for the Company.
Golden Predator Mining Corp.
Golden Predator Mining Corp. holds the Brewery Creek Project, a past producing heap leach gold mine with a preliminary economic assessment delivered in Q4 2014. The Company also holds the 3 Aces Gold Project in the Yukon, which it continues to delineate and test, and the Castle West Project in Nevada.
For additional information:
Janet Lee-Sheriff
Chief Executive Officer
(208) 446-6451
info@goldenpredator.com
www.goldenpredator.com
- Northern Tiger Resources Inc., News Release dated August 8, 2012
- Golden Predator Mining Corp., News Release dated December 2, 2014
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. 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 the Company’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, the Company assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.
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Source: Golden Predator Mining Corp. (TSX Venture:GPY) http://www.goldenpredator.com
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