Golden Dawn Minerals Receives Drill Permit for Lexington Property, Airborne Survey To Confirm Additional Targets - Historic Mining Camp
VANCOUVER, September 16, 2021 - Golden Dawn Minerals Inc., (TSXV:GOM) (FRANKFURT:3G8C) (OTC PINK:GDMRD), ("Golden Dawn" or the "Company"), announces that it has received final approval for its drilling plan on the Lexington Property at the Greenwood Precious Metals project in southeastern BC. The drilling is anticipated to be executed in late October. "In addition to the existing mining permit for the defined resource at Lexington, this is a next step in expanding the resource and addressing the potential of the mineralised parallel structure."
States Chris Anderson CEO
Photo showing scooptram at Lexington mine during de-watering phase.
The Lexington Multi-Year Area Based permit is for a total of 25 drill sites, with 14 sites approved for this year. Multiple holes can be drilled from each of the sites, so the permit allows for approximately 11,200 meters to be drilled this year out of a total of up to 20,000 metres.
Initial drilling is planned close to the Lexington Mine permit area where there is potential to extend the mineralized zones that define the known resource. Immediately northwest of the mine there is potential for a northwest extension of outlying resource blocks defined by intercepts in drill holes B93-6 and TG-81 (see table below). Drilling is also planned southeast of the mine where historic drill intercepts that indicate presence of significant widths of copper-gold mineralization along a kilometer-long trend that stretches south from the Lexington mine (as shown for R70-18 and TS-64 in the table below).
| Hole | From (m) | To (m) | Length (m) | Gold g/t | Copper % | |
| B93-6 | 10.67 | 173.7 | 163.03 | 0.86 | 0.16 | |
| including | 159.9 | 163.8 | 3.9 | 31.22 | 2.45 | |
| TG-81 | 60.0 | 83.8 | 18.71 | 4.45 | 0.48 | |
| including | 79.0 | 83.8 | 4.8 | 16.90 | 1.48 | |
| R70-18 | 33.5 | 61.0 | 27.5 | 2.07 | 0.76 | |
| including | 45.7 | 54.9 | 9.2 | 5.31 | 1.65 | |
| TS-64 | 78.0 | 81.1 | 3.1 | 1.99 | 2.49 |
Table showing historic drill intercepts in Lexington target areas.
The historic large intervals of low-grade gold-copper mineralization indicates potential for bulk gold mining at current metal prices. In the coming months, Golden Dawn intends to investigate options for bulk extraction. Property-wide exploration targeting will also benefit from the results of the 2021 airborne VTEM survey which are expected to be finalized soon.
Photo showing typical pyrite > chalcopyrite mineralization at the Lexington deposit.
Map of the Greenwood Precious Metal Project showing the main properties.
Readers are cautioned that historical records referred to in this News Release have been examined but not verified by a Qualified Person. Further work is required to verify that historical records referred to in this News Release are accurate.
Technical disclosure in this news release has been approved by Dr. Mathew Ball, P.Geo., President of the Company and a Qualified Person as defined by National Instrument 43-101,
For more details, please see the most recent National Instrument 43-101 Technical Report on the Company's website at www.goldendawnminerals.com.
On behalf of the Board of Directors:
Golden Dawn Minerals Inc.
Per: "Christopher R. Anderson"
Christopher R. Anderson CEO
For further information, please contact:
Golden Dawn Minerals Inc. - Corporate Communications: Tel: 604-221-8936
Email: Office@goldendawnminerals.com
Forward-Looking Statement Cautions: This news release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, relating to, among other things, preliminary plans for a consolidation of the Company's Shares. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective," "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include the possibility that the TSX Venture Exchange will not approve the proposed share consolidation, and that the Company may not be able to raise sufficient additional capital to continue its business. The reader is urged to refer to the Company's reports, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects. This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of securities of the Company in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The Company's securities have not been and will not be registered under the United States Securities Act of 1933 (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.
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SOURCE: Golden Dawn Minerals Inc.