Golden Predator Discovers Multiple Mineralized Quartz Veins at 3 Aces Project; Advances Exploration Towards Drill Program
VANCOUVER, BC--(Marketwired - September 09, 2016) - Golden Predator Mining Corp. (TSX VENTURE: GPY) (the "Company") is pleased to announce an interim progress report on its 3 Aces Project exploration program. Eleven (11) previously unknown mineralized veins have been discovered since the August 1, 2016 exploration program start date, at least five (5) of which have visible gold. Trenching of soil anomalies is the preferred method to identify and locate mineralized veins, generally located near surface, in order to identify the preferred drill locations for the upcoming Q4-2016 program.
3 Aces Exploration Program Update
Ongoing trenching is being conducted in advance of the drill program to define and sample the surface expression of outcropping veins and investigate new areas of anomalous gold in soil. Veins exposed by trenching are being sampled with large volume samples to reduce the effect of coarse nuggetty gold that characterizes many of the veins discovered to date on the property. Where exposures allow, panel sampling is being used to sample the veins. When not possible, composite grab samples of veins are being collected.
The Company plans to drill a minimum of 3,500 meters of 5.5 inch diameter RC during 2016 with additional drilling planned to continue into and throughout 2017. An additional 400 meters of large diameter diamond drilling (minimum PQ size) is planned to test high grade sections of veins. Drilling is planned to start on or about October 1st.
Construction and installation of the bridge over the Little Hyland River is nearing completion with the access and the bridge expected to be complete before the end of September 2016. Road building is nearing completion with road accessibility now provided to enhance the drill program.
3 Aces Project, Yukon
The 3 Aces property is a 225 km ² property consisting of 1,118 contiguous quartz claims (23,000 hectares) located in southeast Yukon and includes the two highest grade surface outcrops discovered to date in the Yukon. The veins discovered to date are characterized by coarse nuggetty gold with a low sulphide content consistent with an orogenic vein model. The property is located along the all-season Nahanni Range Road which accesses the Cantung Mine located 40 kilometers 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 chert pebble conglomerates of the Hyland Group. Previous sampling and exploration by Golden Predator has outlined extensive gold-in-soil anomalies over ten square kilometers, including the five high grade gold in quartz veins that contain coarse visible gold. Exploration work in 2015 and 2016 to date, including metallurgical studies, Rotary Air Blast drilling, Reverse circulation drilling and bulk sampling, has focused on establishing the grade and continuity of the Ace of Spades vein where previous diamond drilling had intersected the vein but returned lower than expected grades. The work in 2015 and 2016 has confirmed the high grades of the vein by establishing a sampling protocol which is resulting in a better estimation of gold grades within the veins. This work, the sampling protocol and the Phase II program are designed to significantly advance the understanding and discoveries on the project in 2016 and 2017.
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
Previous metallurgical work 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. Analyses for the 2016 program are being performed by ALS with sample preparation in Whitehorse, Yukon or North Vancouver, BC and assaying in North Vancouver, BC. Large volume samples collected from trenches will be analyzed for gold using Screen Metallics Gold (Au-SCR21) procedure.
The technical content of this news release has been reviewed and approved by Mike Burke, P. Geo, a Qualified Person as defined by National Instrument 43-101 and Chief Geologist for the Company.
Golden Predator Mining Corp.
Golden Predator Mining Corp., a Canadian gold mineral exploration company, is focused on advancing its high grade 3 Aces Project in Canada's Yukon.
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 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 that the private placement will complete as described herein, that the Project will advance through permitting and feasibility. 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.
Contact
For additional information:
Janet Lee-Sheriff
Chief Executive Officer
(604) 260-5029 Ext.101
info@goldenpredator.com
www.goldenpredator.com