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Diamond drilling at Golden Ridge intersects multiple high grade veins from Alturas mine

February 25, 2010
    TSX: GPD
    www.goldenpredator.com

VANCOUVER, Feb. 25 /PRNewswire-FirstCall/ – Golden Predator Royalty & Development Corp. (TSX:GPD) (the “Company”) is pleased to release the assay results from the late autumn 2009 diamond drilling program at the Golden Ridge project, located in the High Grade district in northeastern Modoc County, California. Significant intercepts include hole GPGRD-01 assaying 5 ft of 1.965 opt (1.5 m of 67.39 gpt) Au, and 6 ft of 1.169 opt (1.8 m of 40.09 gpt) Au in hole GPGRD-04 (see Table). The drilling consisted of 4 diamond drill holes that confirmed the presence of two east-northeast trending, steeply dipping gold bearing quartz-adularia veins hosted within silicified and brecciated rhyolitic volcanics at the historic Alturas mine. Golden Ridge 2009 Diamond Drilling Highlights

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    Drill           From         To      Interval          Gold     Gold opt
    Hole #        ft           ft      ft (m)            gpt
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    GPGRD01          56.0       60.0     4.0 (1.2 m)        4.54    .132
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    GPGRD01         113.4      121.0     7.6 (2.3 m)        12.0    .350
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    including       118.5      121.0     2.5 (.76 m)        32.9    .960
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    GPGRD02          52.0       57.0     5.0 (1.5 m)       67.39    1.965
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    GPGRD02         173.5      181.0     7.5 (2.3 m)       22.64    .660
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    including       176.0      181.0     5.0 (1.5 m)       33.15    .967
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    GPGRD03          56.0       61.0     5.0 (1.5 m)        4.37    .127
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    GPGRD03         212.0      214.5     2.5 (.76 m)        6.61    .305
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    GPGRD04          38.5       44.5     6.0 (1.8 m)       40.09    1.169
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    GPGRD04         128.5      132.3     3.8 (1.2 m)       11.55    .337
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    GPGRD04         141.0      146.0     5.0 (1.5 m)        3.53    .103
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    GPGRD05         120.5      126.0     5.5 (1.6 m)        3.25    .095
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The diamond drilling program was initiated in October, 2009 to follow up on high grade gold intercepts from the Alturas vein in the 2009 reverse circulation drilling program (see Golden Predator press releases dated November 23, October 1 and 8, and August 27, 2009). The previously announced gold intercepts in RC drill hole GPGR-29 include 5 ft averaging 2.919 opt (1.5 m of 100.07 gpt) Au from 52.5 ft and 30 ft averaging 0.734 opt (9.6 m of 31.31 gpt) Au from 120 ft.

The core drilling confirms width and tenor of grade displayed in the RC drilling, and results indicate that the gold bearing veins extend at least 100 ft vertically below the initial RC intercept and 40 to 50 ft to the south and north, respectively. The gold mineralization is open in all directions, with the closest prior drilling located several hundred ft to the north. Bonanza-grade gold values were again intercepted in the core drilling, with the 2.5 ft interval from 54.5 ft in hole GPGRD-02 returning a gold assay of 3.917 opt Au (134.5 gpt) approximately 30 ft below the 2.5 ft sample assaying 5.469 opt (187.5 gpt) from RC hole GPGR-29, along with multiple plus 1 opt Au intervals within the mineralized vein zones.

In addition to the four core holes drilled on the Alturas vein, a fifth core hole, GPGRD-05, was drilled across the Modoc vein in the northwest part of the district to twin RC hole GPGR-21, which encountered poor sample return adjacent to the Modoc vein. Hole GPGRD-05 returned anomalous gold mineralization across several intervals corresponding to the Modoc and associated veins including 5.5 ft of 0.095 opt Au (1.6 m of 3.255 gpt) from 120.5 ft.

The Company is preparing for continued exploration on the Golden Ridge Project in the spring of 2010 to upgrade the information on the Alturas mineralization to the resource development stage, and to test additional high grade gold targets on the property.

Additional information, including the previous press releases with assay values for the 2009 drilling, along with property photos and location map, may be viewed on the Company’s website (www.goldenpredator.com).

Laboratory Analysis and QA/QC:

ALS Chemex of Reno, NV performed all primary lab analyses. Samples received in the lab were 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 gold 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 ppm and 1 ppm, respectively. Assay results for gold and silver are reported by the lab in ppm units.

Submittal of halved core samples for analysis to ALS Chemex labs is done with a combination of blank and reference samples inserted for every twenty samples submitted. One remaining half of the drill core is retained for later reference for additional assay and metallurgical studies. All assay numbers are reported as un-cut and all intercepts are reported as drilled width and not true width. David R. Hembree, PGeo, is the Qualified Person as defined under National Instrument 43-101, overseeing Golden Predator’s U.S. exploration programs outside Nevada, and has reviewed & verified the information presented on QA/QC procedures and technical aspects of the drilling results in this press release.

About Golden Predator Royalty & Development Corp.

Golden Predator’s corporate mandate is to establish a self-funded gold company focused on the Yukon, Canada.

Golden Predator has established an industry leading gold property position in the Yukon and is aggressively exploring its Gold (Scheelite) Dome, Eureka, Antimony Mountain, Clear Creek and Brewery Creek projects.

Golden Predator is advancing its Adelaide project in Nevada with underground drilling and bulk sampling planned. Further drilling is planned at Golden Ridge and Lantern to potentially provide near term production of small-tonnage high grade ores. Golden Predator intends, through its strategic use of modular mills at its Taylor and Humboldt mill sites, to become a gold producer capable of funding its Yukon program. In addition, Golden Predator currently receives in excess of $1.0 M per year from its royalty stream.

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 Royalty & Development Corp.


Source: newswire