VANCOUVER, British Columbia, April 01, 2021 (GLOBE NEWSWIRE) -- Golden Predator Mining Corp. (TSX.V:GPY, OTCQX:NTGSF) (the “Company” or “Golden Predator”) advises the Company has submitted its Water Use License (WUL) and Quartz Mining License (QML) renewal applications for its 100%-owned Brewery Creek mine project located approximately 55 km by paved and gravel road from Dawson City, Yukon. The Company looks forward to working with Tr’ondëk Hwëch’in, the Yukon Department of Energy, Mines and Resources and the Yukon Water Board to advance the renewal applications.
The Brewery Creek Mine is a brownfields heap leach gold mine that was operated by Viceroy Minerals Corporation from 1996 to 2002. Important infrastructure remains in place allowing for a timely restart schedule.
Brewery Creek currently holds valid Quartz Mining and Water Use Licenses, which expire December 31, 2021. The Company has submitted renewal applications on existing terms and conditions for 10-year extensions to the Quartz Mining License (QML) Water Use License (WUL). Golden Predator is currently working on a document to meet Yukon Environmental Socio-economic Assessment Act (YESAA) requirements and expects to submit the project plan in early Q3 2021.
Brewery Creek Mine Work Plan
A Feasibility Study (FS) is being conducted by Kappes Cassiday & Associates of Reno, Nevada which will include a multi-year mine plan for the advancement of the Brewery Creek project. The FS will include an inventory of the mineralized material remaining on the heap and mine planning (completed by Tetra Tech Inc of Golden, Colorado) for the resumption of the mining of material from leachable resources contained within the licensed area and reported in the Company’s Mineral Resource Estimate. The FS will include all the key parameters involved in reconstructing or adding necessary infrastructure including a crushing facility, the Adsorption-Desorption-Recovery (“ADR”) plant, mine schedule, operating and capital cost estimates, and economic cash flow model sufficiently detailed to move directly into procurement, development and construction if economically warranted. Any production decisions would be dependent on the outcome of a study demonstrating positive technical and economic viability.
Golden Predator Mining Corp – Viva Gold Corp. (TSX.V: VAU; OTCQB: VAUCF) ("Viva Gold")
The Company previously announced (March 3, 2021) it has entered into a definitive arrangement agreement whereby Golden Predator will acquire all of the outstanding securities of Viva Gold by way of a plan of arrangement under the Business Corporations Act (British Columbia). The proposed Arrangement brings together proven mine building expertise, jurisdictional diversification and two advanced stage gold development projects as the two company’s merge their Nevada and Yukon assets and management to position the company as an emerging junior gold producer.
The technical content of this news release has been reviewed and approved by Michael Maslowski CPG, a Qualified Person as defined by National Instrument 43-101 and a consultant to the Company.
About Golden Predator Mining Corp.
Golden Predator is advancing the past-producing Brewery Creek Mine towards a timely resumption of mining activities in Canada’s Yukon. The project has established resources grading over 1.0 g/t Gold and both a technical report and Bankable Feasibility Study underway to define the economics of a restart of heap leach operations at the Brewery Creek Mine. The 180 km2 brownfield property is located 55 km by road from Dawson City, Yukon and operates under a Socio-Economic Accord with the Tr’ondëk Hwëch’in First Nation. The Company also holds the Marg Project, with a 43-101 compliant resource, the Gold Dome Project and Grew Creek Project. For additional information on Golden Predator and the Brewery Creek Mine, please visit our website: www.goldenpredator.com.
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 based on current expectations that the Brewery Creek will advance to an early production decision, or the extent of any additional mineral resource that could result from incorporating 2019 exploration drilling. 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.