EVG bonus drilling in Yukon and Angel's Camp
Golden Predator subsidiary starts drilling at Brewery
2009-08-14 14:26 ET - News Release
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GPD Close 2009-08-13 C$ 0.70
Mr. William Sheriff reports
GOLDEN PREDATOR ROYALTY AND DEVELOPMENT CORP.: DRILLING INITIATED AT BREWERY CREEK AND ANGEL'S CAMP
Golden Predator Royalty & Development Corp.'s wholly owned Yukon subsidiary, True North Mining Corp., has commenced drilling on its Brewery Creek gold project located 55 kilometres east of Dawson City, Yukon.
Initial holes will be drilled to the east of the previously mined Pacific area where the downdip extension of near-surface gold mineralization has not been tested. At the Blue zone, drilling will test an interpreted fault for its potential as a feeder structure to host deeper sulphide mineralization. Drilling on a third target in the North Slope area is designed to test a deep sulphide target in the core of an overturned syncline.
Gold mineralization was mined from oxide ore at Brewery Creek from seven near-surface deposits. A total of 279,541 ounces of gold were produced from 1996 through 2002 from 9.7 million tonnes of ore grading 1.44 grams per tonne gold.
True North's president, Dr. Art Ettlinger, observed, "The opportunity for us at Brewery Creek is to identify and develop deeper gold ore bodies associated with sulphide-bearing structures that would have escaped the historic exploration for oxide mineralization at depths of less than 50 metres as well as expand on known oxide resources that were not economic at the time of mine closure in 2002 when gold was less than $350 per ounce."
The company also announces that reverse circulation (RC) drilling has commenced on its Angel's Camp project in Lake county, Oregon. This drilling is intended to expand on the Angel's Camp vein -- a partially defined zone of high-grade gold mineralization identified through previous rotary and diamond drilling. Quincy Energy Corp., a predecessor company to Golden Predator and signatory to the original Quartz Mountain agreement, intersected gold mineralization grading up to 1.735 ounces per ton gold and 3.00 ounces per tone silver in banded epithermal quartz veins over a drilled interval of 5.5 feet (see Quincy Energy Corp. news release in Stockwatch dated Jan. 20, 2005, and on SEDAR).
Dr. Ettlinger, PGeo, and president of True North, is the qualified person for the Brewery Creek project and is responsible for the technical content of this news release as it pertains to that project. Dave Hembree, PGeo, is the qualified person for the Angel's Camp project and is responsible for the technical content of this news release as it pertains to that project.
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