Golden Predator Mining Corp. NTGSF

Brewery Creek Mine Progress Update

[dollardaze]

“Golden Predator has completed a massive volume of work in the last 90 days, made possible by assembling a highly skilled team with previous experience both working in the Yukon and restarting heap leach operations in California and Nevada... Much of the original infrastructure was left intact and is in excellent condition, providing significant cost savings for a project restart while also significantly advancing timelines to a resumption of mining at Brewery Creek.”

-Janet Lee-Sheriff, Chief Executive Officer

Golden Predator Updates Progress at Brewery Creek, Yukon
 

News release highlights:

• Site work has been completed in advance of planned development work commencing in 2020
• Clearing topsoil to access old heap leach material and provide accurate sampling of heap;
• Mineralized rock from Fosters, Kokanee, Golden, Lucky and Sleeman obtained for metallurgical testing to evaluate bio-oxidation to enhance recovery/economics of sulfide mineralization
• Aurora Geosciences collected ~82 line/kms of ground magnetic/VLF and 5 line/kms of ELF resistivity data in October 2019 over Schooner/Sleeman resource areas to augment structural geologic interpretation. 
• Mapping, trenching, soil/rock geochemistry and ground magnetic/VLF completed to evaluate and expand gold in Lone Star South, East Schooner and North Sleeman soil anomalies.
• Drilling will conclude at the end of October 2019.
• Completion of exploration 169 drill hole drill campaign. Assays are pending;
  • Lucky Zone - 36 RC drill holes totaling 4,241 m (13,914 ft)
  • Golden Zone - 67 RC drill holes totaling 7,059 m (23,159 ft)
  • Kokanee/Fosters Zones - 28 RC drill holes totaling 2,959 m (9,708 ft)
  • Camp Zone 7 - RC drill holes totaling 286 m (938 ft)
  • Metallurgy - 9 PQ diamond drill holes totaling 678 m (2,224 ft)
  • Heap leach pad - 31 holes totaling 343 m (1,125 ft) providing 22T bulk sample to determine optimal crush size for ore material processing. 
• Positive assessments of existing infrastructure suitability for use in restart of project;
• Expansion of camp capacity bringing total on-site housing to >75 personnel;
• Due diligence review of previous mine planning to develop a phased mining approach
  • Phase 1 focuses on reprocessing of 10 MM tonnes of mineralized material on the heap leach pad to provide production revenue for early stages.
  • Phase 2 focuses on completing original mining plan as currently assessed and licensed.
  • Phase 3 anticipates expansion beyond currently licensed plan extending mine plan.
• RFP issued for a Feasibility Study for reprocessing heap leach pad
• RFP issued for updated 43-101 compliant technical report expected in the Q1 2020
• Water wells have been upgraded and monitoring has expanded from annual reclamation sampling to monthly production compliance sampling. 
• Business incubator model developed to assist businesses owned and operated by Tr’ondk Hwch’in First Nation (THFN) citizens, enabling them to benefit from a project restart. 

[easycoder]

Dd, new pr today about feasibility study for phase 1 at BC - the half a mill oz on the leach pad, or about $650 mill US - they're trying to get SP up so they can finance the cost of that. The last details I heard on that were from Bill at investor call a few months ago. I'll have to look that up again as he was getting a lot of detailed questions on costs and timing from what sounded like

[awacs1]

We have some potential for tax loss but there are better targets given the upside potential. Agree that $$ will be required to bring this to commercial production. To stimulate the market, they need to announce some milestones culminating in a First Pour Q. Most will be familiar with the stages followed by VIT. I have been around since the early days and so far this has not lived up to the initial

[easycoder]

I can't find the Town Hall video where Bill talks about the leach pad processing, but I have some notes talking about 10m tons and a feasibility study (must be the one they just announced) at $30m estimated to production.. Not sure if that means just to get production started.. I dont know enough mining engineering to know if that sounds out of wack and whether it all has to be raised at once.

[easycoder]

The $30m was in USD