VANCOUVER, British Columbia, Sept. 23, 2019 (GLOBE NEWSWIRE) -- Golden Predator Mining Corp. (TSX.V:GPY, OTCQX:NTGSF) (the “Company” or “Golden Predator”) is pleased to announce Mr. Michael (Mike) Maslowski will rejoin the Company as Chief Operating Officer charged with advancing the Brewery Creek Mine, located near Dawson City in Canada’s Yukon, through development into production. Mike previously served as Chief Operating Officer of Golden Predator from 2011 to 2014 and his familiarity with the project will enable the fully licensed Brewery Creek to advance quickly into construction in 2020.
Mr. Maslowski will coordinate and manage all the Company's construction, mine development and operational activities at the Brewery Creek Mine. In addition, he will oversee the continuing expansion of the project through aggressive mine site exploration, environmental studies, permitting and future development. He will assume the position of Chief Operating Officer effective December 1, 2019 upon the completion of his existing work commitments.
"Mike’s appointment is a major milestone for Golden Predator as we move towards production at our Brewery Creek Mine," said Janet Lee-Sheriff, Chief Executive Officer. "I look forward to working closely with Mike as we continue to build our strong team of mining professionals.”
Michael Maslowski, Chief Operating Officer
Mr. Maslowski is a geological engineer with a career in the mineral resource industry spanning more than 35 years in exploration, engineering, underground and open pit mining design and operation in the Americas and East Africa. Mr. Maslowski previously worked with Golden Predator from 2011 to 2014 as Vice President of Exploration and then Chief Operating Officer, expanding the Brewery Creek resource more than 5 fold in 3 years and directing the Brewery Creek Preliminary Economic Assessment Study. Since 2017 he has been the Technical Services Superintendent for Teck Washington Inc. at their Pend Oreille mine in NE Washington State, an underground lead-zinc mine. Prior to 2011, he was with Coeur d’Alene Mines for ten years in numerous positions including Director of Exploration and Assistant General Manager of the Palmarejo Mine in Mexico. He was the team leader for the discovery of the Diamond Hill Mine for Pegasus Gold then was responsible for advancing the mine into production. Mike is a member of the Society for Mining, Metallurgy and Exploration (SME) and the American Institute of Professional Geologists. He holds a B. S. in Geological Engineering from the Colorado School of Mines and is a Certified Professional Geologist (CPG) with the American Institute of Professional Geologists (AIPG) and a Qualified Person (QP) as defined by National Instrument 43-101.
Brewery Creek Mine, Yukon
The Brewery Creek Mine is a licensed brownfields heap leach gold mine that was operated by Viceroy Minerals Corporation from 1996 to 2002. Brewery Creek was put into Temporary Closure in 2002 following a collapse of the gold price to below $300 US per troy ounce. Golden Predator commenced work on the project starting in 2009. Brewery Creek is now authorized to restart mining activities as defined in their Quartz Mining License and Water License. The Company intends to resume mining and processing of licensed deposits while the Company works with Tr’ondëk Hwëch’in and Yukon Government to expand the licensed mining area to include new discoveries made since 2011.
The 180 km2 property is located 55 km east of Dawson City and is accessible year-round by paved and improved gravel roads. Significant infrastructure remains in place, allowing for a timely restart schedule under existing licenses.
The Company conducted exploration drilling on the Brewery Creek project from 2010 to 2013 and increased the resource 5 fold and completed a Preliminary Economic Assessment (PEA) resource estimate including an Indicated oxide resource of 577,000 troy ounces of gold in 14.2 million tonnes averaging 1.27 g/t gold and an Inferred oxide resources of 279,000 troy ounces of gold in 9.3 million tonnes averaging 0.93 g/t gold (includes resource areas located within and outside of current production licenses). In addition, the resource estimate contains Indicated sulfide resources of 142,000 troy ounces of gold in 3.5 million tonnes at 1.28 g/t gold and Inferred sulfide resources totaling 546,000 troy ounces of gold in 12.4 million tonnes at 1.37 g/t gold (1), although most drilling was historically terminated a short depth below the oxide mineralization, leaving sulfide potential largely untested.
The Company has a Socio Economic Accord with Tr’ondëk Hwëch’in for the Brewery Creek Mine and is licensed to resume mining activities under the current Water License and Quartz Mining Licenses. The project also has a Class IV Mining Land Use Permit to conduct additional exploration.
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 an employee of the Company.
Golden Predator Mining Corp.
Golden Predator is advancing the past-producing Brewery Creek Mine towards a timely resumption of mining activities, under its valid Quartz Mining and Water Licenses, in Canada’s Yukon. With established resources grading over 1.0 g/t Gold and low capex to production in a safe first world jurisdiction, Brewery Creek has a clear path to production as an economically and environmentally known project. Optimization studies are progressing to enhance the already positive multi-phase project economics described in the 2014 Preliminary Economic Assessment. Drilling continues to expand the open-ended resources and untested targets across the 186 km2 brownfield property located 55 km by road from Dawson City, Yukon and operates with a Socio Economic Accord with the Tr’ondëk Hwëch’in First Nation.
At the 3 Aces project, Golden Predator continues to expand on discoveries of native gold in quartz veins while ongoing 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 the gold for the mintage of .9999 gold coins from the Yukon Mint™, a wholly owned subsidiary of Golden Predator.
For additional information:
Chief Executive Officer
Golden Predator Mining Corp.
(1) NI 43-101 Technical Report "Preliminary Economic Assessment for the Brewery Creek Property Yukon Territory, Canada" Release Date of November 19, 2014.
(2) Brewery Creek Technical Report, Richard Diment, PGeo May 18, 2003
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 completion of the transactions described herein, the upcoming season at 3 Aces project, and projected grades and gold and silver recoveries from the 2018 and proposed 2019 bulk sample program, 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.