Golden Predator Announces New Gold Vein Discoveries at 3 Aces Project, Yukon; Returns Sampling Results up to 103 g/t Gold
VANCOUVER, B.C., Sept. 14, 2017 (GLOBE NEWSWIRE) -- Golden Predator Mining Corp. (TSX.V:GPY) (OTCQX:NTGSF) (the “Company” or “Golden Predator”) is pleased to announce the discovery of two new gold veins in the Hearts and Clubs Zones at the 3 Aces Project in southeast Yukon. Additional results are pending from the recently completed 2017 summer work program that focused on soil sampling, trenching and road construction to identify and access future drill targets. This program is in addition to the ongoing fully funded 40,000 m drill program at the 3 Aces project which now includes the two new high priority discoveries (See Map 6).
Highlights of the summer program include:
- Soil Sampling – Completion of district-wide soil sampling program of 9,377 soil samples covering 103 sq. km. of favourable structure and stratigraphy across the entire property (See Map 2). Partial results indicate a northwest extension from the Central Core area of anomalous gold in soils. Results are pending from 2/3 of the soil sampling program (See Map 3);
- Road Construction – Completion of 14.4 km of new roads which provide access into the Diamonds discovery zone and expansion of the road network into the Hearts and Clubs zones. The roads facilitate trenching and drilling of new vein discoveries;
- Trenching – Numerous areas of anomalous gold in soil within the Clubs, Diamonds and Hearts were trenched resulting in the discovery of the King of Hearts and the Jack of Clubs gold-bearing quartz veins. In addition, gold was recovered in pan concentrates from outcrops exposed by road construction along the northwest extension of the Hearts zone;
- Geological mapping – Mapping was completed in the 11 sq. km. Central Core Area and in the Euchre, Reef and Hy-Jay areas;
- Rock Sampling - 943 rock samples consisting of panel, channel, chip and grab samples were collected with results up to 103.7 g/t gold from a grab sample of gold-bearing quartz vein in float at the newly discovered Jack of Clubs zone. Chip sampling of the Jack of Clubs in trenching returned values to 7.0 g/t gold.
“Completing almost 10,000 soil samples along trend in one summer is a phenomenal feat requiring significant effort from the technical team, including our contractor Aurora Geosciences, which deserves a great deal of recognition for such a large volume of work,” said Janet Lee-Sheriff, Chief Executive Officer. “The new discoveries in the Hearts and Clubs Zone occur along a single structural zone that indicate continuity for a distance of more than 1.5 km along surface. Initial drilling is underway at the King of Hearts and will commence shortly at the Jack Clubs.”
Complete project, sampling and drilling maps can be found on the Company’s website at:
http://www.goldenpredator.com/_resources/news/nr_20170914_figure1.pdf
Soil Sampling Program
A total of 9,377 grid soil samples have been taken between June and early September 2017 covering an area of approximately 103 km2 which include the discovery of two new gold-in-soil zones. The new 2.0 x 1.2 km area lies on trend and is a continuation of the most northerly soil anomaly in the Central Core Area. A second new anomalous area extends the northwesterly most soil anomaly in the Central Core Area by 0.6 km along strike to the northwest. The soil sampling grid covered all of the favorable stratigraphy and structural trends identified to date throughout the district with an emphasis on completing initial coverage of all untested ground between the known mineral occurrences of Hy-Jay, Reef, Euchre, Central Core Area, and Sprogge (from northwest to southeast).
The systematic program consisted of initial grid evaluation along a 35 km trend approximately 4 to 5 km wide exhibiting favourable stratigraphic and structural controls for district scale gold mineralization. Samples were taken along grids with 100 x 50 m or 200 x 100 m sample spacing. Over 6,000 soil sample results remain pending.
The 2018 work plans will include further exploration on the these and other newly identified soil anomalies. Soil sampling is recognized as the preferred method to identify near surface mineralization and drill targets at the 3 Aces project.
Rock Chip Sampling Program
A total of 943 composite grab, chip, channel and panel samples have been collected during the Summer of 2017. Of these, 833 were within the Central Core Area with the remaining 115 taken predominantly from the Reef and Hy-Jay properties. Results are now being reported for 632 samples; 580 which are from the Central Core Area. Of the 632 samples, thirteen (13) have values greater than 15 g/t gold, three (3) had values between 10-15 g/t gold, twelve (12) had values between 5-10 g/t gold and eighty-three (83) had values greater than 1.0 g/t gold.
Highlights include:
- King of Hearts – Newly discovered zone with visible gold in quartz vein approximately 300 m on trend to the northwest of the Ace of Hearts discovery area. This occurrence doubles the strike length of the mineralized trend at the Hearts zone to approximately 600 m. The structure projects to the Ten and Jack of Clubs veins 0.75 and 1.0 km away respectively (See Map 6).
- Jack of Clubs – Newly discovered zone with visible gold in quartz and values including 54.7 g/t gold and 103.7 g/t gold from grab samples of quartz veining with visible gold in float samples located 100 m apart from one another. Trench exposure of the veining has returned values to 7.0 g/t gold. The Ten/Jack of Clubs structural zone projects to the southwest into the Ace and King of Hearts; the total strike length of the combined zones is 1.6 km (See Map 6).
- Spades Detour – Panel sample (0.5 m x 0.5m) returning 21.6 g/t gold from a rusty shear zone with quartz exposed in a new trench located approximately 150 m southeast of the Three of Spades.
- Visible Gold from Hearts Road Cuts – Visible gold was recovered in pan concentrates from 11 areas along a 450 m segment of the Hearts bypass road connecting the Hearts Zone to the Clubs Zone along the prominent northwest structural zone. (see red diamond symbols on Map 7). Sample results are pending for a number of rock chip and panel samples taken from the newly exposed areas in the Hearts zone (See Map 7).
- Diamonds Zone – Sample results are pending for a number of rock chip and panel samples taken from the newly discovered mineralization in the Diamonds zone, partial results include 40.4 g/t gold from float samples and up to 9.9 g/t from outcrop samples.
- Hy-Jay Property - Historical float samples in talus reported from the ZigZag zone were traced upslope and hand trenching resulted in the discovery of a quartz-arsenopyrite vein hosted in phyllite. The vein varies from 5 to 30 cm in thickness with disseminated arsenopyrite along vein selvages in the phyllitic host rock. Sampling returned values to 28.7 g/t gold in float material while chip sampling of the vein in hand trenches returned eleven (11) samples ranging from 18.4 to 0.35 g/t gold.
Mapping Program
The mapping at 3 Aces has been conducted in area of new discoveries including the Clubs, Hearts and Diamond Zones, with approximately 12 km2 of mapping has been completed at a scale of 1:5,000. This mapping in combination with sample results and interpretation of the ongoing drill program results have resulted in a more comprehensive model of mineralization for the property which will aid in ongoing and future exploration.
Road Construction – Summer and Fall 2017
Approximately 14 km of new roads have been completed in the Central Core Area during the Summer of 2017; now totaling 25 km of roads (see Maps 4 and 5). Roadwork and trenching alongside road cuts have proven to be a valuable exploration tool exposing considerably more mineralized rock and providing valuable drill access as highlighted by the Hearts Bypass Road cut.
3 Aces Project, Yukon
The 3 Aces Project consists of 1,734 claims covering 357 km² (35,700 hectares) in southeast Yukon. The Project is located along the all-season Nahanni Range Road that was recently announced as being a part of the $360 million Federally and Yukon funded, Yukon Resource Gateway Project. The 3 Aces Project has numerous mineralized veins discovered through geological mapping and sampling, trenching, roadwork and drilling. These veins occur across many well-mineralized zones and over 762 m (2,500 feet) of elevation change within the 11km2 Central Core area.
Previous exploration work by Golden Predator, beginning in 2015, has included mapping, sampling, trenching, metallurgical studies, rotary air blast (RAB) drilling, RC drilling, diamond drilling and bulk sampling, all focused on establishing reproducible gold grades and continuity of the numerous gold in quartz veins discovered on the property. Extensive drilling in the Spades and Hearts Zones has returned high grade vein intercepts such as 13.1 m of 16.75 g/t gold1 and 13.75 m of 65.31 g/t gold; 16.2 m of 20.5 g/t gold and 8 m of 50.4 g/t gold2. Additional new discoveries have been announced in the Clubs and Diamonds Zones and the Company is currently focused on an aggressive drill program that is well underway, and is expected to continue through November.
The 3 Aces Project is in the traditional territory of the Kaska Nation. Golden Predator operates under an Exploration Agreement with the Kaska Nation, as represented by the Ross River Dena Council and the Liard First Nation, and a Class 4 Mining Land Use Permit issued by the Yukon Government.
Sampling Methodology, Quality Control and Assurance
All analyses for the rock samples from the program were performed by Bureau Veritas Mineral Laboratories in Vancouver, BC with sample preparation in Whitehorse, Yukon. Soil samples were collected from C-horizon material using augers or geo pick, all of the sample information was logged into iPod hand held units. Samples were shipped to Whitehorse, Yukon where they were dried, organized into rice bags, and secured with a security tag. Samples were then shipped to Bureau Veritas Mineral Laboratories in Vancouver, BC for analysis. The samples were dried further at the labs before being analyzed via Ultratrace ICP-MS analysis with an Aqua Regia digestion (method AQ251_EXT). Bureau Veritas internal duplicates, standards, and blanks were inserted within each shipment and QA/QC results were within industry standards.
The technical content of this news release has been reviewed and approved by Mike Burke, P.Geo, 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 well-financed gold exploration company focused on its 3 Aces Project in Canada’s Yukon. The large land package includes at least 6 mineralized areas, all located within and along favorable stratigraphic and structural zones that extend over 35km along trend. The 2017, 40,000m drill program is focused on the year-round road and bridge accessible 11 km2 Central Core Area, host to numerous high-grade gold in quartz veins. The Company also holds 100% of the Brewery Creek Project. The Yukon projects are in a low-risk jurisdiction, and with proven management and an experienced technical team, the Company is well positioned for stable growth.
For additional information:
Janet Lee- Sheriff
Chief Executive Officer
(604)260-0289
info@goldenpredator.com
www.goldenpredator.com
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.
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1 Golden Predator Press Release dated March 16, 2017
2 Golden Predator Press Release dated August 9, 2017