Golden Predator Reports High Grade Intercept of 9.1 M Grading 27.4 Grams Per Tonne (30 Ft of 0.8 Oz/T) Gold at Adelaide Project
VANCOUVER, BRITISH COLUMBIA–(Marketwire – Sept. 23, 2008) – Golden Predator Mines Inc. (TSX:GP) is pleased to announce that assays results have now been received on the last 10 holes of a 32 hole reverse circulation program, totaling 16,145 feet of drilling at the Adelaide Project, located in southeastern Humboldt County, Nevada. The complete drilling program tests various targets for potential high grade chutes on 1.6 miles of strike length along the mineralized Adelaide structure. Best intercepts occur on several targets both below, and along strike from historic open pit and underground mines in the area.
Hole GPA027 9.1m of 27.4 gm/t (30 ft of 0.799 oz/t) gold; and 83.0 gm/t silver
Including: 4.6m of 53.3 gm/t (15 ft of 1.56 oz/t) gold; and 143.0 gm/t silver
Drill holes GPA027 through GPA029 are north-stepping offsets of holes GPA014 through GPA017 which tested down-dip and strike extensions of the historic Adelaide-Crown underground and open pit mines. Hole GPA027 is located over 2,800 feet due north of hole GPA019, which contained 4.6 m of 41.8 gm/t (15 ft of 1.22 oz/t). The greater than ounce per ton gold intercept in the recent assay results highlights an additional zone of high grade mineralization that requires further definition drilling at Adelaide. Both high grade targets have limited drilling along strike, and are open down- dip.
A core drilling program is in progress to better define at least one of the high grade zones identified at Adelaide and to better understand the orientation of the auriferous veins and help to quantify true thickness of the reported assay results.
William Sheriff, CEO of Golden Predator Mines Inc., observed: “The continued reporting of plus ounce per ton material at our Adelaide project further validates our business plan, to process high grade ores from historic gold properties by trucking to a central infrastructure, such as the company’s Springer facility near Imlay, NV. Adelaide is one of many historic gold properties across Nevada that contain significant potential for high grade gold mineralization, but do not have the size potential or water rights, to support the permitting and construction of a modern milling facility. Properties such as Adelaide, Tuscarora, the Phoenix JV, High Grade, Quartz Mountain and Lantern all show significant potential to fill this niche, with Adelaide being the first of our properties to be explored for this deposit criteria.”
Adelaide Project Drill Highlights, Greater than 1 gm/t ——————————————————————– — ________________________Drilled________________ Drilled __________________________Inter-__ Gold__Silver__ Inter- Drill____ From______ To____ val____________________ val__ Gold__Silver Hole No____(ft)____ (ft)____(ft)__(oz/t)__(oz/t)____ (m) (gm/ t)__(gm/t) ——————————————————————– — GPA024____Assays Pending ——————————————————————– — GPA025____Assays Pending ——————————————————————– — GPA026____No Significant Results ——————————————————————– — ——————————————————————– — GPA027______50______ 60______10__ 0.039____0.22____ 3.0__ 1.34______ 8 ——————————————————————– — GPA027______80______110______30__ 0.799____2.41____ 9.1__27.41______83 ——————————————————————– — including__80______ 95______15__ 1.555____4.18____ 4.6__53.31____ 143 ——————————————————————– — GPA027____ 125______130______ 5__ 0.059____0.12____ 1.5__ 2.02______ 4 ——————————————————————– — GPA027____ 140______145______ 5__ 0.066____0.15____ 1.5__ 2.25______ 5 ——————————————————————– — ——————————————————————– — GPA028______95______105______10__ 0.086____0.79____ 3.0__ 2.97______27 ——————————————————————– — GPA028____ 210______215______ 5__ 0.050____1.95____ 1.5__ 1.72______67 ——————————————————————– — GPA028____ 450______455______ 5__ 0.062____0.15____ 1.5__ 2.12______ 5 ——————————————————————– — ——————————————————————– — GPA029____ 220______225______ 5__ 0.039____5.25____ 1.5__ 1.33____ 180 ——————————————————————– — GPA029____ 280______300______20__ 0.051____1.01____ 6.1__ 1.73______35 ——————————————————————– — ——————————————————————– — GPA030____ 250______255______ 5__ 0.077____1.11____ 1.5__ 2.64______38 ——————————————————————– — GPA030____ 270______275______ 5__ 0.079____1.05____ 1.5__ 2.71______36 ——————————————————————– — ——————————————————————– — GPA031______70______ 75______ 5__ 0.034____1.46____ 1.5__ 1.15______50 ——————————————————————– — GPA031______90______ 95______ 5__ 0.081____0.35____ 1.5__ 2.76______12 ——————————————————————– — ——————————————————————– — GPA032______90______ 95______ 5__ 0.034____1.93____ 1.5__ 1.17______66 ——————————————————————– — GPA032____ 210______215______ 5__ 0.034____less____ 1.5__ 1.15____less __________________________________________ than__________________ than __________________________________________ .029______________________1 ——————————————————————– —
The location and history of the Adelaide property is summarized in Golden Predator’s July 24, 2008 press release, announcing results of the first nine holes in the program. Additional information and a drill hole location map may be viewed on the company’s website at www.goldenpredator.com under the Premier Projects/Major Gold Properties/Adelaide folder (http://www.goldenpredator.com/s/ Adelaide.asp).
Laboratory Analysis and QA/QC
ALS CHEMEX of Reno, NV performed all primary lab analyses. Samples received in the lab were first logged-in and assigned a barcode. The samples were then fine crushed to 70% less than 2 mm then split with a riffle splitter with one split pulverized to 85% less than 75 microns. Gold was analyzed by fire assay and AAS using a nominal 30 gm sample weight. For samples exceeding 10 ppm, values were analyzed by fire assay with a gravimetric finish. Silver was analyzed by aqua regia digestion and ICP-AES or AAS. Levels of detection for gold and silver are, 0.005 and 1 ppm, respectively.
QA/QC procedures followed for this initial reverse circulation drilling include submittal of chip samples for analysis with duplicate, blank, and referee samples being submitted for every ten samples assayed. It is uncertain as to whether mineralization at Adelaide contains coarse gold which may present assaying challenges. An orientation study using metallic screen analysis to check for variability due to coarse gold is in progress.
All assay numbers are reported as un-cut and all intercepts are reported as drill width and are not to be interpreted as true widths. Travis Schwertfeger P.Geo., Exploration Manager, is the Qualified Person as defined under National Instrument 43-101, overseeing Golden Predator’s exploration programs in Nevada, and has reviewed Information presented on QA/QC procedures and technical aspects of the drilling results in this press release.
About Golden Predator
Golden Predator is a tungsten and gold mining company focused on mineral development in Nevada and surrounding states. The company’s aggressive growth strategy has uniquely positioned it to simultaneously develop core assets in tungsten, gold and silver including the 100% owned Springer tungsten and Taylor silver mill complexes in Nevada.
Information Regarding Forward-Looking Statements: Except for historical information contained herein, the statements in this Press Release are forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties, which may cause Golden Predator’s actual results in future periods to differ materially from forecasted results. These risks and uncertainties include, among other things: volatility of natural resource prices; product demand; market competition and risks inherent in the company’s operations. These and other risks are described in the Company’s public filings with Canadian Securities Regulators available at www.sedar.com.
For more information please see our Website at www.goldenpredator.com, or send questions and comments to firstname.lastname@example.org.
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