Golden Predator Results
posted on
Sep 07, 2010 02:18PM
The Company's Eagle Gold Project in Yukon Canada hosts a National Instrument 43-101 compliant Reserve of 2.3 million ounces of gold.
TSX: GPD
VANCOUVER, Sept. 7 /CNW/ - Golden Predator Corp. (TSX: GPD) (the "Company") is pleased to announce initial results from its diamond and reverse circulation drilling programs on its Clear Creek Project.
Clear Creek
To date the Company has drilled 4 HQ oriented core diamond drill holes totaling 1,054 m and 38 RC drill holes totaling 2,589 m on four separate target areas at its Clear Creek Property. Results for 1 diamond drill hole and 7 of the RC drill holes on the Bear Paw Breccia zone have now been received and analyzed. A detailed plan map and drill hole results table is available for viewing at the Company's website http://www.goldenpredator.com/i/pdf/GP-NR10-28-ClearCreekResults-Sept7-2010-LONG.pdf
Highlights of the drill results are included in the table below. Of particular significance are the results that were returned from RC Hole No. CC10-07, with an intercept of 1.87 g/t Au over 42.68 m starting at 1.52 m depth, including higher grade intervals of 2.59 g/t Au over 25.91 m starting at 10.67 m depth and 5.64 g/t Au over 9.15 m starting at 16.76 m depth.
The Company's Clear Creek property, located 65 km northwest of Mayo, comprises 300 contiguous quartz claims covering approximately 60 km(2) in an active placer mining area that has produced more than 129,000 oz Au to date (Allen et al., 1999).
Anomalous gold values in soil and rock on the Clear Creek property are associated with mid-Cretaceous aged Tombstone plutonic suite granitic stocks and the Bear Paw breccia zone. Previously identified mineralization is associated with sheeted veins in and around the stocks as well as with hydrothermal breccias, which are spatially, and possibly temporally, related to the intrusve rocks. The Company's 2010 diamond and RC drilling at Clear Creek focused on further exploring the Bear Paw zone, the Contact zone, the Saddle zone and the Josephine area of the Property. No work was planned this year on the Rhosbegobel zone where Kennecott had previously identified an uneconomic gold resource through shallow RC drilling. These targets are arrayed in a 7 km north south arc approximately two kilometers apart.
The drill program at the Bear Paw zone was designed to test the NE-SW trend of a 1 km long by 250 m wide Au-As soil anomaly. Oriented core of diamond drill holes CC10-01 and CC10-02 was used to enhance the understanding of the structural controls on mineralization. Twelve RC holes were completed on the Bear Paw zone for a total of 662 m. Results from the remaining holes drilled at the Bear Paw zone are pending. Difficult ground conditions prevented all of the RC holes from reaching their target depth. The RC holes achieved only an average 31% of target depth. Based on these substantial results, the company is planning on utilizing appropriate equipment next year that will be able to reach targeted depths.
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2010 Initial Drill Hole Highlights from the Clear Creek Project
(Bear Paw Zone), YT
Select Significant Intercepts (1),(2),(3)
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Drill Hole From To Interval Au
(m) (m) (m) g/t
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CC10-01 44.9 90.2 45.3 0.776
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including 71.35 82.27 10.92 1.736
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CC10-05 1.52 36.58 35.06 1.033
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including 24.38 30.48 6.1 2.074
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CC10-07 1.52 44.2 42.68 1.868
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including 10.67 36.58 25.91 2.585
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and 16.76 25.91 9.15 5.635
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(1) Results where g/t x m is less than 2.5 are not reported in this
table, unless the individual grade was (greater than or equal to) 1 g/t
gold over a minimum of 1.0 metres. Other intervals require (greater than
or equal to)0.7 g/t Au to be included.
(2) grams per tonne (g/t) to troy ounces per short ton: g/t divided by
34.2857 or multiply by .0292
(3) meters to feet: 1m equals 3.28084 feet
Sampling Methodology, Quality Control and Assurance
The diamond drill holes were drilled by skid mounted drills utilizing HQ, NQ, and NTW core sizes (6.4 cm/2.5", 4.8 cm/1.87" and 5.6 cm/2.2", respectively). Core is cut or split and one half is sent to the lab for analysis and the other half retained on site.
The RC drill holes were drilled by track mounted drills that produce a 5" (12.7 cm) diameter drill hole. Samples were collected from 1/8th of the material from a 5 ft (1.5 m) interval utilizing a splitter incorporated on the cyclone.
Both the RC samples and core samples were sent to ALS Chemex's prep lab in Whitehorse and then forwarded to their ISO 9001 certified preparation facility in Terrace, B.C. The pulps were analyzed at ALS's ISO 9001 certified laboratory in Vancouver. Approximately 5% of the pulps are sent for secondary check assays at Stewart Groups Eco Tech laboratory in Kamloops, B.C. Blanks, commercial standards and duplicate samples were included in each batch. To determine Au levels at the ppb level detection limit 5-10,000 ppb (5-1000 ppb at Stewart Group)) 30 g samples are fire assayed then digested in aqua regia solution and analyzed by atomic absorption. At Eco Tech, values over 1,000 ppb are re-assayed by fire assay and then digested with aqua regia and then re-analyzed by an atomic absorption instrument (detection limit 0.03 g/t). At ALS Chemex, values over 10 g/t gold are re-assayed by fire assay followed by a gravimetric finish (50 ppb lower detection limit).
Other elements are analyzed by a 35 elements package (ME-ICP41) whereby the sample is dissolved in a aqua regia acid solution and then analyzed by ICP. Additional check-analyses are carried out by the lab which did not receive the original sample.
Drilling Sampling Protocol / Chain of Custody/Data Verification
Golden Predator employs high standards of protocol with respect to the handling and chain of custody of its samples. All sampling is conducted under the supervision of the Company's project geologist and the chain of custody from the drill to the sample preparation and logging facility is continually monitored by the project geologist. Samples are shipped to the lab by qualified couriers or Company personnel under locked bags with independent identification lock numbers. Data verification of the analytical results includes a statistical analysis of the duplicates, standards and blanks that must pass certain set parameters for acceptance to insure accurate and verifiable results. All assays are reported as drilled intervals and are not to be interpreted as true widths.
The technical content of this news release has been reviewed and approved by Corwin (Cor) Coe, A.Sc.T., B.Sc., P.Geo., the Company's Vice-President, Exploration (Canada) and a Qualified Person as defined by National Instrument 43-101.
About Golden Predator Corp.
Golden Predator Corp.'s corporate mandate is to be the leading gold property explorer and developer in Yukon, Canada. The Company has an extensive Yukon property position with an industry leading seven advanced exploration gold projects comprising approximately 1,400 km(2). Drill programs have been initiated on all seven advanced projects and continue at Clear Creek, Gold Dome, Brewery Creek, Cynthia, and Grew Creek. Additional results from these programs are pending.
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.