Results from drilling to extend the high grade Hearts Zone expected in early January
VANCOUVER, British Columbia, Nov. 19, 2018 (GLOBE NEWSWIRE) -- Golden Predator Mining Corp. (TSX.V:GPY, OTCQX:NTGSF) (the “Company”) reported today that drilling of the extensive soil geochemical target in the Sprogge Area of the 3 Aces Project located in southeast Yukon has discovered an important new style of disseminated gold mineralization. The Sprogge Area discovery represents a potentially large gold-bearing intrusive system not previously encountered at the 3 Aces Project. Follow-up exploration of this new gold discovery is planned for 2019 starting with geophysical surveys designed to target blind intrusive-related gold mineralization at depth.
A total of 27 HQ diamond drill holes amounting to 2,169 meters tested six separate zones within 1.4 by 1.0 km of the Sprogge Area at the 3 Aces Project. Surface gold mineralization, defined by gold and arsenic in soil geochemical anomalies and subsequent rock chip geochemistry, is present along stratigraphic contacts and structures exposed at the surface. The shallow drill holes targeted this near-surface gold mineralization at the lithologic contacts.
The newly discovered mineralization differs from the previously defined, structurally-controlled orogenic-style high-grade veins encountered in the Central Core Area of the 3 Aces project. In the Sprogge drilling, steeply dipping, north-northwest trending dike-filled faults and shears were encountered that show coherent intervals of gold grade. The intrusive-hosted mineralization is entirely in felsic dikes and appears to be significantly younger than the orogenic mineralization. Hole 3A18-335 intercepted 16.86m of 1.35 g/t gold from a depth of 16.2 meters including 1.38m of 8.34 g/t and 0.8m of 7.29 g/t gold. A second hole, 3A18-346, confirmed the intrusive hosted mineralization (see figures 4 through 6).
Golden Predator Chairman William Sheriff noted that the original objective for the Sprogge drilling was to find a continuation of the structurally-controlled Central Core Zone beneath the large geochemical anomaly. “We now feel confident that Sprogge is much higher in the stratigraphy than the Central Core Zone and the potential for the high-grade orogenic deposit lies below. The intrusive hosted gold mineralization explains the broad gold-in-soil anomaly on the southern half of the Sprogge Area. . Hole 3A18-335 intersected the mineralized intrusion and 346 confirmed it. When these shallow intercepts are compared with the surface exposure, it is clear the dikes are quickly widening significantly with depth, indicating size potential which these intrusive systems are known for.”
Commenting further, Sheriff said the intrusion appears to be similar in age to a number of gold-bearing intrusive related systems in the Yukon including GPY’s 100%-owned Brewery Creek deposit mined from 1996 to 2002.
Nine other holes intercepted gold in quartz veins or veinlets occupying structures at a stratigraphic break. These narrow intersections and their stratigraphic interpretation place the Sprogge Area target test up section from the Central Core Area. With gold confirmed in many of the targeted structures, it is believed that the best orogenic gold targets may lie at depth where more favorable stratigraphy is projected. Testing that target was beyond the scope of the original drill program and the limits of the drill rig utilized in this initial phase of shallow drilling.
To view 3 Aces property and drill location maps:
2018 - 3 Aces Project – Sprogge Area Diamond Drill (DD) Significant Results
Hole ID From (m) To (m) Thickness Gold (g/t)
Sample Type ‘DD’ represent ½ core sawn, or ½ core saw for duplicate, of 2.5” (63.5mm) HQ core.
All intervals are reported as drilled thicknesses; true thicknesses are estimated to be 50-90% of drilled thicknesses.
2018 Sprogge Area Drilling Program
The 2018 work program at the Sprogge Area consisted of 30 days of detailed lithologic and structural mapping of the six previously described target areas (GPY NR17-25) to define the orientation of structures and lithology controlling gold mineralization. Proposed drill holes tested the down plunge projection of the surface gold showings at relatively shallow depths (< 50 m) as the initial test of the property. Driftwood Drilling completed the helicopter-assisted drill program over a 2-month period from July 22nd through September 12th, 2018.
Bedrock lithologies at the Sprogge Area are similar to parts of the Central Core Area located approximately 7 km to the west-northwest. A well developed, southeast plunging, southwest vergent antiform in the Sprogge Area is cored by thick, turbiditic, feldspathic conglomerates and sandstones overlain by fine-grained siltstones, mudstones and limestones of the Proterozoic Yesezyu Formation. Uniquely, at the new discovery zone, felsic dikes, 5-30 m wide, are intruded along a north-northwesterly, one-km long trend and are spatially associated with gold mineralization; this is an association that is not known to occur in the Central Core Area 7 km to the west-northwest across a segment of the regionally significant Hyland fault. Isotopic dating of these dikes in the Sprogge Area by Whelan, 2014 yielded zircon U/Pb ages ranging from 95.7 to 103.5 million years.
Central Core Area Deep Drilling Update
Subsequent to the Sprogge Area drill program, the Company completed an eight hole, 2,603 m diamond drill program in the Central Core Area targeting the down dip projection of the Hearts Zone. Drill holes were widely spaced along approximately 250 m of strike with the deepest intercept approximately 500 m down dip from the outcrop of the discovery vein. The target zone was successfully intersected with abundant quartz, arsenopyrite and pyrite present in the structures in all seven holes that reached target depth. Logging and sampling of the core is now complete, and samples have been submitted to SGS labs for analysis. Results of this program are expected in early January.
3 Aces Project, Yukon
The 3 Aces Project is an orogenic gold target 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; (3) gold grades have robust continuity within the recognized controlling features; and (4) most of the gold is free-milling and readily recoverable by gravity concentration. Results from the Central Core Area 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 discovery in the Sprogge Area provides an additional target model within the mineralized belt improving the potential to develop a new and significant gold district in Southeastern Yukon.
Sampling Methodology, Quality Control and Assurance
All analyses for the drill samples were performed by SGS Canada, Inc. with sample preparation in Whitehorse, YT and assaying in Burnaby, BC. Drill samples were analyzed for gold using a 50 gram fire assay with atomic absorption finish (GO FAA505) or gravimetric finish (GO FAG505) on over limit results (>100 ppm Au). Quality control standards includes SRM, certified blank and field duplicate samples in every sample dispatch.
The technical content of this news release has been reviewed and approved by Jeff Cary, CPG, a Qualified Person as defined by National Instrument 43-101 and Project Geologist for the 3 Aces Project and an employee of the Company.
Golden Predator Mining Corp.
Golden Predator Mining Corp. is a gold exploration company focused on advancing key projects with significant exploration upside, good infrastructure and community support. The Company is actively exploring on its high-grade gold 3 Aces Project and the advanced Brewery Creek Project, Yukon, a past-producer with a 2014 Preliminary Economic Assessment prepared in accordance with NI 43-101.
For additional information:
Chief Executive Officer
(1) NI 43-101 Technical Report "Preliminary Economic Assessment for the Brewery Creek Property Yukon Territory, Canada" Release Date of November 19, 2014.
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.