Golden Predator Mining Announces 2019 Exploration Program at the 3 Aces Project, Yukon
TSX VENTURE: GPY
VANCOUVER, British Columbia, Feb. 21, 2019 (GLOBE NEWSWIRE) -- Golden Predator Mining Corp. (TSX.V:GPY, OTCQX:NTGSF) (the “Company”) announces plans for its exploration and drilling program in the Central Core Area of its 3 Aces Project in southeast Yukon. The program will focus on following up the success of last year’s work which extended the high-grade Hearts Zone down dip and along strike towards the Clubs Zone. Bulk sampling is expected to enable the 2019 3 Aces exploration program to be self-funding.
2019 Exploration Objectives:
The 2019 exploration is designed to accomplish six specific goals:
- Expand the strike and dip continuity of the 2.8km long Hearts-Clubs corridor;
- Locate further high-grade mineralization within this corridor;
- Confirm that intersections of northeast trending structures with the northwest trending Hearts-Club corridor control high-grade mineralization;
- Evaluate and improve targeting with geophysical tools, primarily focused on magnetic features;
- Expand the Company’s knowledge and understanding of the primary and secondary controls of mineralization within the high-grade Spades Zone through continuing bulk sampling;
- Extend and expand the Spades mineralization along the more than 1km north-northwest trending structure already identified.
To view maps of the 3 Aces project: http://www.goldenpredator.com/_resources/maps/GPY-NR19-03-maps.pdf
3 Aces - Central Core Area Work Plan:
The primary focus of the 2019 season will be on the 2.8km long Hearts-Clubs corridor. Exploration plans for the Hearts-Clubs corridor include:
- Extensive trenching and sampling along the strike of the northwest trending structural zone, to maximize effectiveness of subsequent drilling;
- Trenching and sampling of northeast cross structures identified;
- Prioritization of diamond drill targets from surface results;
- Step out drilling along current strike projection of the Hearts-Clubs structural zone, increasing the strike and down dip continuity throughout the 2.8 km corridor;
In addition, the 2019 program will see work in the Spades Zone including:
- Additional trenching followed by RC drilling designed to extend and expand the known mineralization along the north-northwest trending Spades structure;
- Bulk sampling of up to the permitted 10,000 tonnes in the Spades Zone and processing activities associated with the 2018 and 2019 bulk sample.
- Further testing of chemical-free processing at the Company-owned plant located in Canada’s Yukon.
Building from the 2018 Program
The 2018 deep drilling in the Hearts Zone consistently intercepted two parallel, planar, closely spaced gold-bearing structures along 220m of strike and as much as 500m down dip from the Hearts discovery outcrop. The structures were intercepted by drilling where they were expected and reported excellent widths of lower grade gold mineralization enveloping localized high-grade gold mineralization. The envelopes reliably signal the nearby presence of higher-grade material. The high-grade mineralization is developed along structural flexures and/or intersections with secondary structures. The trend of the down dip projection of the Hearts outcrop corresponds with the surface exposure of a Hearts-Clubs structural corridor and a coincident magnetic anomaly which projects over 2.5 km of strike, trending northwest into the Clubs Zone. The 2018 Hearts drilling has demonstrated the potential for significant size along strike and at depth. These observations gleaned from the 2018 program will provide important targeting information for the next phase of drilling.
The Company designed its 2018 bulk sample program to reconcile actual grade against grade predicted by drill results, confirm the pattern of gold distribution, improve metallurgy, and begin to understand rock mechanics. A total of approximately 9,800 tonnes of material was systematically excavated in 2018 from a series of 2m benches in the Spades Zone. Approximately 20% of the excavated material was transported to the processing facility before year-end, with the remainder to be transported in the coming months. It is expected the plant will process the 2018 material into Q3/19 with results and progress reports expected on a monthly basis beginning in April 2019. Final reconciliation of recovery, tonnes and grade will be released for each bench as well as for the combined 9,800 tonne sample following complete processing and refining of the gold. Golden Predator made an early decision to bulk sample at its 3 Aces Project when it realized that much of the gold contained in its veins is high grade (not uncommonly over one ounce per tonne) and nuggety.
3 Aces Project, Yukon
The 3 Aces Project is an orogenic gold project 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 technical content of this news release has been reviewed and approved by Jeff Cary, CPG , an employee and a Qualified Person as defined by National Instrument 43-101 and 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 advancing the Brewery Creek Project, Yukon, a past-producer with a 2014 Preliminary Economic Assessment prepared pursuant to NI 43-101. The 3 Aces Project hosts a high grade orogenic gold system with visible gold at surface and strong structural continuity at depth. Bulk sampling and processing at the 50 tpd Company-owned processing plant has demonstrated gold recoveries of over 85% using a chemical-free process. This green gold provides for the production of .9999 fine gold coins from the Yukon Mint, a wholly-owned subsidiary of Golden Predator.
For additional information:
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 express or implied regarding projected grades and gold and silver recoveries from the 2018 and proposed 2019 bulk sample program, 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.