Golden Predator Files Technical Report on Brewery Creek Project
VANCOUVER, June 18, 2012 /PRNewswire/ - Golden Predator Corp. (TSX:GPD) (the “Company”) is pleased to announce that further to its press
release dated May 1, 2012, the Company has filed a National Instrument
43-101 Technical Report detailing Indicated and Inferred Mineral
Resource estimates on its flagship Brewery Creek Project, located in
the Yukon, Canada. The Technical Report along with further information
on the project can be found under the Company’s profile on SEDAR at www.sedar.com and on the Company’s website at www.goldenpredator.com.
Indicated Mineral Resources are estimated at 20.4 million tonnes grading
0.89 g/t gold containing 581,000 ounces of gold and Inferred Mineral
Resources are estimated at 13.0 million tonnes grading 0.83 g/t gold
containing 346,000 ounces of gold. Cut off gold grade values of 0.20
g/t gold for oxide material and 0.70 g/t gold for sulfide material were
______________________________________________________________________________ | Brewery Creek Indicated & Inferred Resources(1) | |______________________________________________________________________________| | | | Tonnes | Au |Contained| | Tonnes | Au |Contained| | | |(Million)|(g/t)| Au | |(Million)|(g/t)| Au | | | | | |(Ounces) | | | |(Ounces) | |_______|_________|_________|_____|_________|________|_________|_____|_________| |Oxide |Indicated| 13.932 |0.70 | 313,000 |Inferred| 7.337 |0.47 | 111,000 | |_______|_________|_________|_____|_________|________|_________|_____|_________| |Sulfide|Indicated| 6.485 |1.29 | 268,000 |Inferred| 5.653 |1.29 | 235,000 | |_______|_________|_________|_____|_________|________|_________|_____|_________| |TOTAL Indicated | 20.417 |0.89 | 581,000 | TOTAL | 12.990 |0.83 | 346,000 | | | | | |Inferred| | | | |_________________|_________|_____|_________|________|_________|_____|_________|
(1) The Brewery Creek Resource Estimate includes six separate zones of mineralization and each zone was estimated with different gold grade capping values as follows; Big Rock 6.0 g/t, Fosters-Canadian 12.0 g/t, Bohemian-Schooner 22.5 g/t, Sleeman 16.0 g/t, North Slope 15.0 g/t, Classic 3.5 g/t. The following estimated parameters were used to determine the cut off grades for oxide and sulphide material; gold price $1500/oz, oxide recovery 65%, sulfide recovery 75%, open pit mining costs $2.00/tonne, oxide heap leach process costs $3.50/tonne, sulfide milling process costs $23.00/tonne and G & A costs $1.16/tonne. Tonnes and contained ounces have been rounded to the nearest 1,000.
The Mineral Resources for the Company’s Brewery Creek Project were
estimated by EBA, a Tetra Tech Company (EBA), utilizing the Company’s
drilling and sampling programs, together with independently validated
historic sampling and drilling data conducted by previous operators
including Loki Gold Corp., Viceroy Minerals Corp. and Alexco Resource
Corp. Gemcom (GEMS) modelling software was used to complete the
resource estimations and conform to guidelines and definitions
established by National Instrument 43-101 and the Canadian Institute of
Mining and Metallurgy.
To complete the resource estimations, a total of 54,822 samples from
1,244 drill holes, totalling 106,650 metres (34,929 samples from 957 RC
holes, totalling 67,689 metres, and 19,983 samples from 287 core holes,
totalling 38,981 metres) were composited to 2 metre lengths and
interpolated into six separate GEMS partial block models. Ordinary
Kriging (OK) methodology was applied to interpolate gold grades for the
Big Rock, Bohemian-Schooner, Fosters-Canadian and North Slope Deposits,
and Inverse Distance cubed (ID3) methodology was applied to interpolate
resources for the Classic Deposit. Oxide resources were defined by
partial or full blocks lying above an interpreted reduction-oxidation
(redox) boundary supplied by the Company and based on actual drill hole
Cretaceous-age quartz monzonite sills and subordinate lower Paleozoic
silici-clastic sedimentary strata, host epithermal-style gold
mineralization at Brewery Creek. En echelon style quartz veinlets and
stockworks cut the pervasively clay-altered and locally silicified
intrusions. Areas of elevated gold concentration relate directly to
zones of concentrated quartz veining, though most of the lower-grade
material occurs as disseminations in the altered and strongly limonitic
intrusions. Trace elements associated with gold mineralization include
arsenic, antimony and mercury, and unoxidized sulphide -bearing
portions of the deposits commonly contain abundant pyrite and
stibnite. Resources are reported from six zones which are mostly open
to expansion in one or more directions laterally as well as at depth.
Ongoing exploration has been designed to increase known resources as
well as to identify new resource areas within the project area.
The Brewery Creek Project was operated by Viceroy Gold from 1996 to 2002
as an open pit operation with run-of-mine material delivered to the
heap leach pad with approximately 280,000 ounces of gold recovered.
Historic overall gold recovery from the heap leach operation is
estimated at approximately 60%. Historic reports indicate that
run-of-mine material included preg-robbing material was placed on the
heap leach which reduced ultimate recoveries. The Company is
undertaking a metallurgical characterization program to properly
determine gold recovery profiles and preg-robbing characteristics by
mineralized area and rock type. The program will include large
diameter core drilling in the summer of 2012 for use in column leach
tests. Data indicates that the preg-robbing material is predominantly
restricted to sedimentary rocks which can be visually identified and,
if necessary, selectively removed from material reporting to a process
James Barr, PGeo, an Independent Qualified Person from the consulting
firm of EBA and author of the Technical Report along with Bruce Otto,
PGeo, Qualified Person and Senior Geologist with Golden Predator Corp.,
have reviewed and approved the contents of this news release.
About Golden Predator Corp.
Golden Predator Corp., Yukon’s Gold Company, is mandated to become a mid-tier gold producer. Golden Predator’s
road-accessible advanced properties include its flagship Brewery Creek
Project as well as its Grew Creek and Clear Creek Projects. Golden
Predator is committed to moving aggressively to a near term production
decision while expanding the existing NI 43-101-compliant resource at
Golden Predator has one of the largest controlled land positions in the
Yukon, with exploration holdings in excess of 1.0 million acres, and is
committed to strong relationships with First Nations and communities.
Golden Predator’s highly skilled management and technical teams
continue to lead aggressive exploration programs in the underexplored
regions of the Yukon, focused on advancing new discoveries and leaving
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.