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VANCOUVER, British Columbia, Aug. 09, 2017 (GLOBE NEWSWIRE) -- Golden Predator Mining Corp. (TSX-V:GPY) (OTCQX:NTGSF) (the ?Company or ?Golden Predator) is pleased to report assay results for 8 reverse circulation (RC) drill holes and 10 diamond core drill holes at the 3 Aces Project in southeast Yukon, Canada. The current drill program has focused on the Spades Zone to provide appropriate drill density for interpretation and modelling of the gold mineralization in the high-grade vein system. The Company also reports a new discovery of gold in quartz veining at the new Ace of Diamonds and Three of Diamonds, which were discovered through the ongoing sampling and mapping program.
Significant results include:
- Hole 3A17-124: 4.57 m of 58.75 g/t gold, including 1.52 m of 121.75 g/t gold
- Hole 3A17-132: 13.30 m of 6.69* g/t gold, including 1.95 m of 25.64* g/t gold
- Hole 3A17-134: 4.6 m of 18.77* g/t gold, including 1.5 m of 36.6* g/t gold
- Hole 3A17-138: 1.5 m of 8.31* g/t gold, and 8.0 m of 50.4* g/t gold, including 1.0 m of 156.0* g/t gold
- Hole 3A17-131: 13.75 m of 65.31 g/t gold, and 4.55 m of 46.90 g/t gold, including 0.95 m of 209 g/t gold (Grade Verification)
- Hole 3A17-133: intersected 6.0 m of 15.98* g/t gold, including 1.5 m of 49.93* g/t gold, and 16.2 m of 20.5* g/t gold, including 5.1 m of 57.77* g/t gold (Grade Verification)
Intervals reported with an asterisk (*) are results from 50g Fire Assay. These intervals have been submitted for Metallic Screen Analysis, which are pending. Metallic Screen Analysis may report higher or lower gold values than 50g Fire Assay. To date, overall average gold values increase in reported grade when comparing Metallic Screen Analysis to 50g Fire Assay.
The drill results reported include step-out and in-fill holes at the Spades Zone, as well as, two grade verification diamond core holes. Step-out holes 3A17-137 and 3A17-138 extend mineralization along strike, intercepting quartz veining 10m apart and 17m from previous drilling. Hole 3A17-137 returned 1.5m of 68.30* g/t gold and 5.5m of 7.24* g/t gold with hole 3A17-138 returning 1.5m of 8.31* g/t gold and 8m of 50.4* g/t gold. The grade verification holes have confirmed grades in areas previously explored with reverse circulation drilling. Hole 3A17-131 intersected the best mineralized interval reported to date from the 3 Aces Project at 13.75 m of 65.31 g/t gold, and lower in the same hole another interval of 4.55 m of 46.90 g/t gold. Hole 3A17-133 intercepted a blind vein with 1.15 m of 73.2* g/t gold at a depth of 60.1m, some 25m below the nearest previously known intercept. Results continue to confirm the potential for near surface and high-grade underground targets and are part of a fully-funded 40,000m drill program, which will continue throughout 2017.
The Company has greatly increased its understanding of the structural and stratigraphic controls of the gold mineralization within the 11km2 Central Core Area. These controls and style of mineralization persist along a northwesterly trend measuring 35 km within the current 357km2 land package at 3 Aces. The similarities and repetitive nature of the structures, stratigraphy and mineralization have significant district scale implications across the property.
Geologic mapping and soil sampling are critical summer exploration programs and recently led to a visible gold discovery at the newly identified Ace of Diamonds in the Diamond Zone. The Diamonds zone features gold-bearing quartz veining occurring continuously over a strike of 1.2 km. The Company also discovered quartz breccias containing up to 3.21 g/t gold at the newly discovered Three of Diamonds. Discovery of gold in the lower stratigraphy that hosts the Diamonds Zone supports the theory that deep mineralization underlies the Spades, Hearts and Clubs Zones. Expansion into the Diamonds Zone significantly enhances the overall potential of the Central Core Area.
Complete location maps can be found on the Companys website at: http://goldenpredator.com/_resources/news/3Aces_PressReleaseMaps_20170808.pdf
Webcast / Call-In Details:
The Company has scheduled a webcast to provide an update on the 2017 exploration program and to better explain the evolving structural model. A question and answer period will follow the presentation.
|Time:||11 AM EDT|
|Date:||Wednesday, August 9th,2017|
|Participant Toll-Free Dial-In Number:||(833) 659-7621|
|Participant International Dial-In Number:||(409) 767-9130|
2017 Exploration Program Update
The 2017 exploration program has provided valuable interpretations of the district scale potential and the 3 Aces orogenic gold model. Through mapping, sampling and the interpretation of over 100 drill holes within the 11 km2 Central Core Area, as well as, new exposures created through trenching and road building, the Company has refined the geological models key parameters including the persistent structural and stratigraphic controls for the length of the project (35 km).
To date, the 2017 drill program has focused exclusively on delineating and expanding the Spades Zone. Going forward, drilling will expand to 3 reverse circulation (RC) drills in August 2017 and will be focused on the down dip and strike extension targets at the Ace of Hearts, as well as, expanding to both the Clubs Zone and Diamonds Zone. The diamond core rig is expected to resume operation in September 2017.
A 10,000 sample soil geochemical program is approximately 40% complete. The intention of this work is to fill in gaps from previous sampling programs along trend, and is anticipated to facilitate selection of additional drill targets. The program has been designed to provide an initial grid testing of the favorable stratigraphic exposure along the 35km trend at 3 Aces.
The Company built approximately 11 km of exploration roads in 2016, with an additional 7 km added to date in 2017. An additional 3 km of roadwork is planned for the remainder of the year.
Significant Drill Results Table Spades Zone
|Hole ID1||Sample Type2||From ||To (m)|| Drilled Width |
1Drilled intervals assaying ?3.0 g/t gold are reported in table as significant results;
- No Significant results were returned in RC holes 3A17-136 or 3A17-139
- 3A17-121s significant results from 36.58m to 39.62m include 0.76m of 1.72 g/t Au at 38.10m
- 3A17-130s significant results from 49.40m to 52.20m include 1.50m of 2.94 g/t Au at 49.40m
- 3A17-131s significant results from 25.75m to 39.50m include 0.70m of 0.51* g/t Au at 31.30m, and significant results from 42.25m to 46.80m include 2.35m of 0.75* g/t Au at 43.50m
- 3A17-132s significant results from 20.00m to 33.30m include 3.75m of 0.97* g/t Au at 23.30m and 2.9m of 0.83* g/t Au at 29.00m
- 3A17-133s significant results from 23.80m to 40.00m include 3 intervals totaling 6.35m averaging 1.80* g/t Au between 28.90m and 37.55m, and significant results from 57.50m to 65.00m include 3 intervals totaling 3.50m averaging 1.52* g/t Au between 59.00m and 65.00m
2Sample Type 'RC' is 5.5" (139.7mm) reverse circulation cuttings (whole samples for holes 3A17-121 to 3A17-124, 50% rotary field-split samples for holes 3A17-141 and 3A17-142), and Sample Type ?DD and ?DD-GV represent ½ sawn, or ¼ sawn for duplicate, 3.35 (85mm) PQ core.
3All intervals are reported as drilled thicknesses; true thicknesses are estimated to be 50-100% of drilled thicknesses
4Reported Au assay grade sourced from ALS using Au-SCR24B method (* indicates finalized Au-AA26 results are used)
Sampling Methodology, Quality Control and Assurance
All analyses for the drill samples from the program were performed by ALS with sample preparation in Whitehorse, YT, Terrace, BC, Kamloops, BC or North Vancouver, BC and assaying in North Vancouver, BC. Drill samples were analyzed using a 50 g fire assay with atomic absorption (AA) finish. If the procedure returned a value of 2.0 g/t gold or greater it is re-run using a 2kg screen metallic gold method (Au-SCR24). Refer to the Companys news release dated July 10th, 2017 for a complete discussion of sampling methods, quality control and assurance.
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 an employee of the Company.
Golden Predator Mining Corp.
Golden Predator Mining Corp. is a well-financed gold exploration company focused on its 3 Aces Project in Canadas Yukon. The 357 km2 land package includes at least 6 mineralized areas, all located within and along favorable stratigraphic and structural zones that extend over 35km along trend. The 2017 40,000m drill program is focused on the year-round road and bridge accessible Central Core Area, host to numerous high-grade gold in quartz veins. The Company also holds the Brewery Creek Project in the Yukon. The Companys Projects are in a favorable, low-risk jurisdiction, and with proven management and an experienced technical team, the Company is well positioned for stable growth.
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)260-0289 [email protected] www.goldenpredator.com