Golden Predator Mining Announces 2,500 m Drill Campaign Underway at Sprogge Area, 3 Aces Project, Yukon
TSX VENTURE: GPY
VANCOUVER, British Columbia, July 26, 2018 (GLOBE NEWSWIRE) -- Golden Predator Mining Corp. (TSX.V: GPY; OTCQX: NTGSF) (the “Company” or “Golden Predator”) announced today a 2,500 m diamond drill program is underway at the high grade gold, 100% owned Sprogge Area of its 3 Aces Project in southeastern Yukon, Canada (Figure 1). Drilling will target the primary structural control along 2 km of strike at varying depths ranging from near surface to ~200 m depth. The drill program follows field reconnaissance and historical surface sampling which returned 25 quartz outcrop samples ranging from 5.73 g/t to 46.49 g/t gold along an exposed 2 km of strike.
Sprogge Area Drill Plans
Similar geology of the high grade Central Core Area extends approximately 8 km southeast through the Sprogge Area with the primary structural control for gold being a shattered and deformed stratigraphic zone between coarse sandstone/conglomerate and impermeable shale/phyllite which contains and controls gold-bearing quartz veins.
The exposed primary structural control lies along the eastern edge of an extensive gold-in-soil anomaly (Figure 2). The Sprogge program will follow the model tested and confirmed by this winter’s drilling in the Central Core Area in which 12 of 15 holes successfully hit the quartz-rich target structure and confirmed the model for gold deposition at 3 Aces.
To view 3 Aces Project maps including the Sprogge Area please visit: Click Here
Model of Mineralization
The primary structural control on the gold occurrences identified at 3 Aces is a stratigraphic feature characterized by coarse sandstone and conglomerate in contact with shale and phyllite. A persistent shattering, deformation and quartz vein development at this stratigraphic contact shows faulting and shearing at this position in the stratigraphic sequence. The geological history of this area indicates that this structural feature was likely a low angle fault that developed between brittle sandstones and conglomerates and easily deformed shale and phyllite. This feature is regionally extensive, contains anomalous gold concentrations wherever it is encountered and represents the primary controlling feature for distributing gold-bearing fluids and gold occurrences throughout the 3 Aces Project. A second such structure occurs further up section where the shale and phyllite transition back into another sandstone and conglomerate unit. The preferred lower structural feature has demonstrated consistently higher grade gold as the shale and phyllite acted as a cap or trap, concentrating the gold bearing fluids to a much greater extent than where the brittle sandstone and conglomerate overlie the more flexible shale and phyllite.
In addition to the primary structural control, several subordinate features have been recognized as secondary controls governing the occurrence of high-grade gold:
- Intersection of the primary stratigraphic structural feature with steeply dipping faults
- Shattered and quartz veined zones associated with anticlinal folding of the primary stratigraphic structural feature
- Parasitic folds on the limbs of larger scale anticlinal folding
- Folded hinge deflections of the favorable stratigraphic structural feature
All of these features are recognized in the Sprogge Area.
3 Aces Project, Yukon
The 3 Aces Project is an orogenic gold target consisting of 1,734 claims covering 357 km² (35,700 ha) in southeast Yukon. The Company has to date focused exploration on the 13.5 km² Central Core Area, a broad gold-in-soil anomaly, where numerous orogenic gold-bearing quartz veins have been discovered. Exploration over the past two years has systematically advanced the project by establishing: (1) high gold grades can be reliably sampled; (2) gold mineralization is in predictable stratigraphic structural locations; and (3) gold grades have robust continuity within the recognized controlling features. Results support a stratigraphic structural model that predicts extensive lateral and vertical continuity of the 3 Aces mineral system. The Company is developing targeted drilling programs to establish continuity between the Central Core Area and other mineralized zones along the 35 km strike of the 3 Aces property. Orogenic gold deposits are among the world’s largest and richest such as the California Mother Lode Belt and the Juneau Gold Belt.
The technical content of this news release has been reviewed and approved by Mark C. Shutty, CPG, a Qualified Person as defined by National Instrument 43-101 and an employee of the Company.
Golden Predator Mining Corp.
Golden Predator Mining Corp. is a gold exploration company focused on advancing key Yukon projects with significant exploration upside, good infrastructure and community support. The Company is actively exploring on its 3 Aces Project and the advanced Brewery Creek Project, a past-producing brownfields project with a 2014 Preliminary Economic Assessment prepared in accordance with NI 43-101.
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Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This press release contains 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 that the private placement will complete as described herein, that the Project will advance through permitting and feasibility. 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, the Company assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.