Golden Predator announces New Gold Discovery at Cache Creek (Harlan) Project, Yukon, Canada
VANCOUVER, Jan. 10, 2012 /PRNewswire/ – Golden Predator Corp. (TSX: GPD) (the “Company”) is pleased to announce a new gold discovery at the
Company’s previously undrilled Cache Creek Project (formerly known as
the Harlan Project) in the central Selwyn Basin, Yukon, Canada. The
initial six hole, 2,029 m diamond drilling program completed in 2011
encountered significant gold mineralization in four of six drill holes with all
drill holes intersecting extensive intervals of hydrothermal alteration. Mineralization is not constrained by current drilling and remains
open along strike and at depth. Significant results include:
-- HAR11-005 with 57.0 m of 0.53 g/t gold from a depth of 3.1 m, plus a second zone of anomalous gold with 39.9 m of 0.49 g/t gold from a depth of 315.2 m; and -- HAR11-006 with 77.4 m of 0.51 g/t gold from a depth of 3.6 m, including 35.63 m of 0.77 g/t gold from a depth of 3.6 m, plus a second intersection with 16.66 m of 2.10 g/t gold from a depth of 117.3 m, including 4.51 m of 6.85 g/t gold.
The Project area consists of 740 quartz claims covering approximately
150 km(2) and lying approximately 90 km south of the Osiris discovery of ATAC
Resources Ltd. (TSXV: ATC), and presents at least two major drill-ready gold targets: the Vortex
and West Porphyry Zones. All drilling to date has been limited to the
“We are extremely encouraged by the results from Cache Creek,” said
Chairman William M. Sheriff. “This is our third discovery from the 2011
drill campaign, following on our 2-headframe finds at the
Bohemian-Schooner and Sleeman Zones at our Brewery Creek Project. The
wide-spaced nature of the initial 6 holes, coupled with the multiple
intercepts in the last two holes and mineralized intervals in excess of
50 m in both, is cause for excitement. We look forward to additional
drilling in 2012 on the newly discovered Vortex Zone, as well as
initial drill testing of the neighbouring West Porphyry Zone.”
A complete table of results and location map can be found on the
Company’s website at:
Cache Creek Project, Selwyn Basin Yukon
The Cache Creek property is located 60 km off the North Canol Road in
the Yukon’s central Selwyn Basin and is comprised of 740 quartz claims
covering 154.6 km(2). In January 2011, Golden Predator optioned 75 claims, covering the
area of drilling, from Alexco Resource Corp. with the opportunity to
earn a 75% interest in these claims over a 5 year period. Quartz
claims covering exposures of silicified and gold mineralized Devonian
Earn Group siliciclastics were originally staked in 1997 by Viceroy
Minerals following up anomalous gold and arsenic values in stream
sediment samples and rock chip and soil geochemical sampling defined
two significant gold mineralized zones, Vortex and West Porphyry.
Golden Predator’s 2011 exploration program focused solely on the Vortex
zone. Drilling is planned to continue on the newly discovered Vortex
Zone as well as the untested West Porphyry Zone during 2012.
Cache Creek Project Geology
Two zones of mineralization are known to exist on the Project area: the
Vortex Zone and the West Porphyry Zone.
The northwesterly trending Vortex Zone is a 700+ by 200 m target area
defined by intense silicification, quartz veining and hydrothermal
breccias hosted in northwesterly striking, moderately dipping bedded
chert-pebble conglomerate, lithic sandstones and siltstones of the
Devonian Earn Group. Northerly and northwesterly trending, multi-phase
quartz monzonite and quartz monzonite porphyry dikes and associated
hydrothermal breccias intrude the Late Paleozoic sequence and are
spatially associated with gold mineralization. The intrusions are
thought to be mid-Cretaceous in age related to the regionally important
Tombstone Plutonic Suite.
Gold mineralization in the Vortex Zone is spatially associated with
igneous dikes, adjacent breccias and sedimentary rocks. Hydrothermal
alteration consists of pervasive silicification as fine-grained
replacement of both siliciclastic and igneous lithologies and also as
quartz stockworks and planar quartz-sulfide veinlets and veins.
Mineralization consists of both disseminated and quartz vein hosted
pyrite, arsenopyrite, with gold and minor associated base metals. The
hydrothermal system is strongly enriched in arsenic, antimony and
mercury with average concentrations of +900 ppm, +45 ppm and +1.5 ppm
respectively in the 2011 drill holes.
West Porphyry Zone
The West Porphyry Zone consists of a series of east-southeast trending,
steeply south-southwest dipping altered quartz monzonite dykes similar
in composition to those of the Vortex Zone. Rock chip sampling
returned values up to 0.86 g/t gold over 20.8 m. Anomalous values to
1.26 g/t gold were returned from dykes across 2.5 km(2). The Company plans to drill test the West Porphyry Zone in 2012.
Sampling Methodology, Quality Control and Assurance
The diamond drill holes were drilled by a skid mounted drill utilizing
NTW core sizes (5.6 cm/2.2″). Core was cut or split on site and one
half was sampled and transported to the lab for analysis and the other
half retained on site.
Core samples were sent to both ALS Minerals’ and Acme Labs’ ISO 9001
certified preparation facilities Whitehorse, Yukon. Pulps were
analyzed at ALS’s and Acme’s ISO 9001 certified laboratories in
Vancouver, British Columbia using a 30 gram FA/AA analysis. At both
labs, assay values over 10 g/t gold were re-assayed by fire assay
followed by a gravimetric finish.
Commercial standards, blanks and duplicate samples were systematically
inserted in every drill core sample batch. Approximately 5% of the
original pulps are sent for check assays by the lab that did not
receive the original sample.
Other elements, including silver, were analyzed using ICP-AES (ALS
Minerals) and ICP-MS (Acme Labs) whereby the sample is dissolved in an
aqua regia acid solution and then analyzed by ICP methods.
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 logging facility and sample
preparation 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 Michael Maslowski, BSc, CPG, the Company’s Chief Operating
Officer and a Qualified Person as defined by National Instrument
About Golden Predator Corp.
Golden Predator Corp., Yukon’s Gold Company, is a well-funded exploration company 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.
SOURCE Golden Predator Corp.