Golden Predator Intercepts 1.72 g/t Gold over 146.Golden Predator Intercepts 1.72 g/t Gold over 146.3 m from Carlos Zone, Grew Creek Property, Yukon
TSX: GPD
www.goldenpredator.com
VANCOUVER, Oct. 25 /CNW/ - Golden Predator Corp. (TSX: GPD) (the "Company") is pleased to announce results from its initial drillprogram at the Carlos Zone of its road-accessible Grew Creek project.Three oriented core holes were drilled in order to determine thestructural orientations of mineralized veins on the project and betterevaluate the mineralization reported from historic drilling in thearea. All three holes intersected significant mineralization including1.72 g/t Au over 146.3 m in hole GC10-001. Hole GC10-002 returned 1.21g/t Au over 132.18 m and 31.75 m grading 2.08 g/t Au and bottomed inmineralization. Hole GC10-003 encountered 60.85 m of 1.93 g/t Au and8.5 m of 1.89 g/t Au. Highlights of the drill results are shown in thetable below. Silver assays are pending.
"I am obviously excited by the consistency of the mineralization we haveencountered at Grew Creek, and am pleased to place Grew Creek besideClear Creek as our premier advance projects for 2011. We areanticipating significant progress towards resource calculations on bothGrew Creek and Clear Creek next year, as well as expansion of theexisting resource at Brewery Creek" said William M. Sheriff, Chairmanand CEO. "Furthermore, I am very proud of our accomplished technicalteam which identified this opportunity and engineered a very successfuldrill program based solely on new structural interpretations."
Grew Creek
The Company's 2010 test drill program at Grew Creek consisted of threeHQ diameter oriented core drill holes totaling 710.18 m in the CarlosZone. The Grew Creek project is located 32 km southwest of Faro,Yukon. The property's 72 km2 encompasses 363 claims, extending along both sides of the RobertCampbell Highway for approximately 27 km. The Carlos Zone liesapproximately 900 m off of the highway, and power lines traverse theproject area.
Earlier this year the Company's geologists analyzed the structuralorientations of mineralized veins exposed on the discovery outcrop andin available core from historic drilling and concluded that previousdrilling on the project had not been optimally oriented . Historicdrilling in the Carlos Zone was aligned almost exclusively in asouth-southwesterly direction (azimuth 198°), targeting a Tintina Faultsplay which trends west-northwesterly (azimuth 295°). The results of Golden Predator's three test holes support the conclusionreached by its geological team and show that while the envelope ofmineralization aligns along a west-northwesterly splay of the Tintinafault (azimuth 295°) it occurs in veins and veinlets filling a conjugate fracture set thatlies strongly oblique (25° to 85°) to the main trend. These mineralized veins had not been targeted inhistoric drilling.
Technically, compressional strike slip movement along the Tintina Faultcreated a stress regime that allowed the development of open spacealong Riedel fractures oriented at azimuth 320° and antitheticfractures at azimuth 020°. The Company's 2010 drill program hasestablished a preferred orientation for future drilling ofapproximately azimuth 245°.
The Company is rapidly advancing a comprehensive three-dimensional modelfrom which an extensive drilling program is anticipated to commence inFebruary, 2011. The accessibility and infrastructure available at GrewCreek support year round operations and enables the Company to pursue amajor drill program throughout the winter months of 2011 and continuinginto the traditional field season. The Company's work plan is beingdesigned with the goal of establishing a resource calculation as soonas possible.
2010 Drill Hole Highlights from the Carlos Zone, Grew Creek Project, YT
Select Significant Intercepts (1),(2) |
| Drill Hole |
From(m) |
To(m) |
Interval(m) |
Au
(g/t) |
| GC10-001 |
0.00 |
40.00 |
40.00 |
overburden |
| GC10-001 |
40.00 |
186.30 |
146.30 |
1.72 |
| including |
65.53 |
68.58 |
3.05 |
17.93 |
| and |
77.72 |
109.95 |
32.23 |
2.80 |
| and |
170.58 |
186.30 |
15.72 |
2.90 |
|
|
|
|
|
| GC10-002 |
0.00 |
37.90 |
37.90 |
overburden |
| GC10-002 |
39.32 |
171.50 |
132.18 |
1.21 |
| including |
100.55 |
136.06 |
35.51 |
2.19 |
| GC10-002 |
196.85 |
228.60-EOH(3) |
31.75 |
2.08 |
| including |
226.74 |
228.60-EOH(3) |
1.86 |
9.25 |
|
|
|
|
|
| GC10-003 |
0.00 |
52.80 |
52.80 |
overburden |
| GC10-003 |
60.55 |
121.40 |
60.85 |
1.93 |
| including |
62.32 |
104.85 |
42.53 |
2.53 |
| including |
62.32 |
70.10 |
7.78 |
7.65 |
| GC10-003 |
159.86 |
168.36 |
8.50 |
1.89 |
(1) Results where g/t x m is less than 2.5 are not reported in this table,unless the individual grade was ≥ 1 g/t gold over a minimum of 1.0 m.Other intervals require ≥0.7 g/t Au to be included.
(2) Conversions: grams per tonne (g/t) to troy ounces per short ton - g/tdivided by 34.2857 or multiply by 0.0292; meters to feet: 1 m equals3.28084 ft.
(3) "EOH" indicates end of hole; note mineralization continued to end ofhole.
A detailed plan map including drill holes and a schematic showingstructural orientation of mineralization and model of mineralization isavailable for viewing at the Company's website https://www.goldenpredator.com/i/pdf/2010-10-25_NR.pdf
Release of results from Golden Predator's other drilling projects willcontinue as assays are received. Current-year drilling is complete atAntimony, Clear Creek Cynthia, Grew Creek and Gold Dome; the Company'sBrewery Creek program is still underway.
Sampling Methodology, Quality Control and Assurance
The diamond drill holes were drilled by skid mounted drills utilizing HQcore size (6.4 cm/2.5). Core is cut or split and one half is sent tothe lab for analysis and the other half retained on site.
Samples were sent to ALS Mineral's prep lab in Whitehorse and thenforwarded to one of their ISO 9001 certified preparation facility inTerrace or Vancouver. The pulps were analyzed at ALS Mineral's ISO 9001certified laboratory in Vancouver. Approximately 5% of the pulps aresent for secondary check assays at Stewart Group's Eco Tech laboratoryin Kamloops, B.C. Blanks, commercial standards and duplicate sampleswere included in each batch. To determine Au levels at the ppb leveldetection limit of 5-10,000 ppb (5-1000 ppb at Stewart Group) 30 gsamples are fire assayed then digested in aqua regia solution andanalyzed by atomic absorption. At Eco Tech, values over 1,000 ppb arere-assayed by fire assay, digested with aqua regia and then re-analyzedby an atomic absorption instrument (detection limit 0.03 g/t). At ALSMinerals, values over 10 g/t Au are re-assayed by fire assay followedby a gravimetric finish (50 ppb lower detection limit). Additionalcheck-analyses are being carried out by the lab which did not receivethe original sample.
Other elements, including silver, were analyzed by a 35 elements package(ME-ICP41) in which the sample is dissolved in an aqua regia acidsolution and then analyzed by ICP-AES (Inductively Coupled Plasma -Atomic Emission Spectrometry). Ag values over 100 g/t are re-assayedby method Ag-OG46 which involves digestion in Hydrobromic, Nitric andHydrochloric acids followed by analysis by ICP-AES. Ag values over1,500 g/t are re-assayed by method Ag-GRA21, a 30 g fire assay withgravimetric finish (5 g/t lower detection limit).
Drilling Sampling Protocol / Chain of Custody/Data Verification
Golden Predator employs high standards of protocol with respect to thehandling and chain of custody of its samples. All sampling is conductedunder the supervision of the Company's project geologist and the chainof custody from the drill to the sample preparation and loggingfacility is continually monitored by the project geologist. Samples areshipped to the lab by qualified couriers or Company personnel underlocked bags with independent identification lock numbers. Dataverification of the analytical results includes a statistical analysisof the duplicates, standards and blanks that must pass certain setparameters for acceptance to insure accurate and verifiable results.All assays are reported as drilled intervals and are not to beinterpreted as true widths, which are undetermined at this time.
The technical content of this news release has been reviewed andapproved by Corwin (Cor) Coe, A.Sc.T., B.Sc., P.Geo., the Company'sVice-President, Exploration (Canada) and a Qualified Person as definedby National Instrument 43-101.
About Golden Predator Corp.
Golden Predator Corp.'s corporate mandate is to be the leading goldproperty explorer and developer in Yukon, Canada. The Company has anextensive Yukon property position with an industry leading sevenadvanced exploration gold projects comprising approximately 1,400 km2. Drill programs have been initiated on all seven advanced projects andcontinue at the Brewery Creek project. Additional results from theseprograms are pending.
No stock exchange, securities commission or other regulatory authorityhas approved or disapproved the information contained herein. Thispress release contains projections and forward-looking information thatinvolve various risks and uncertainties regarding future events. Suchforward-looking information can include without limitation statementsbased on current expectations involving a number of risks anduncertainties and are not guarantees of future performance. There arenumerous risks and uncertainties that could cause actual results andGolden Predator's plans and objectives to differ materially from thoseexpressed in the forward-looking information. Actual results and futureevents could differ materially from those anticipated in suchinformation. These and all subsequent written and oral forward-lookinginformation are based on estimates and opinions of management on thedates they are made and are expressly qualified in their entirety bythis notice. Except as required by law, Golden Predator assumes noobligation to update forward-looking information should circumstancesor management's estimates or opinions change.