Golden Dawn announces new drilling program on the Wild Rose - Tam O'Shanter Property, British Columbia, Canada
VANCOUVER, Aug. 19, 2011 /PRNewswire/ -- Golden Dawn Minerals Inc. (TSX-V: GOM) (FRANKFURT: 3G8), (the 'Company' or 'Golden Dawn') is pleased to announce receipt of its amended 2011 Wild Rose drilling permit from the British Columbia Ministry of Energy and Mines. The Company is planning a 10 to 20 hole drilling program to begin on the Wild Rose portion of the Wild Rose - Tam O'Shanter Property, while a drilling permit application is in progress for the Tam O'Shanter drilling.
The 2011 drilling campaign area will test a number of targets and is directed toward a number of goals including expanding the tonnage and looking for new and higher grade zones associated with the Deadwood Gold Zone. The Deadwood Gold Zone contains a recently determined Inferred Resource of 19.4 million tonnes at an average grade of 0.45 grams per tonne (g/t) gold for a total of 279,300 ounces of gold (See GOM News Release dated July 13, 2011). Additionally, a number of targets have been identified based upon the 2011 soil sampling program. For gold, 198 soil samples yielded greater than 50 parts per billion (ppb) gold, including 29 soil samples yielding from 100 ppb to a high of 447 ppb gold in the Wild Rose - Tam O'Shanter area. For copper, a total of 184 soil samples yielded greater than 200 parts per million (ppm) copper with a total of 34 samples yielding from 500 ppm copper to a high of 1,584 ppm copper.
The soil sample area is roughly 2.4 km by 2.1 km in areal extent. The purpose of the soil sampling grid was to identify further potential extensions of the bulk tonnage Deadwood Gold Zone, along with potential new higher grade gold-copper zones that might represent more proximal portions of the hydrothermal system that is interpreted to have generated the widespread alteration and gold-copper mineralization in the area.
The soil sampling yielded a number of gold targets that require follow-up drill testing including along strike of the Deadwood Gold Zone. A weak coincident arsenic and gold anomaly has been identified along strike of the Deadwood Zone to the southeast of the Wild Rose vein system. A significant gold-copper anomaly has been identified moving north from the Deadwood Gold Zone up to the northern boundary of the property. The gold-copper anomaly with numerous samples yielding greater than 100 ppb gold and 200 ppm copper is spatially associated with two magnetic anomalies that may be related to altered and weakly deformed diorite or monzonite intrusions. In addition, there are a number of gold and/or copper in soil anomalies associated with historic induced polarization (IP) chargeability anomalies east of and removed from the main Deadwood Gold Zone trend. A number of these anomalies will be tested during the upcoming 2011 drilling program.
It is anticipated that the drilling contractor will commence mobilization to the Greenwood area next week.
The drilling program will be supervised by Michael Dufresne, P.Geol., a Qualified Person as defined by National Instrument 43-101. Mr. Dufresne has reviewed and verified the contents of this release.
On behalf of the Board of Directors:
GOLDEN DAWN MINERALS INC.
'Wolf Wiese' _______________________________ Wolf Wiese Chief Executive Officer
THIS PRESS RELEASE WAS PREPARED BY MANAGEMENT WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS. NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. THIS DOCUMENT CONTAINS CERTAIN FORWARD LOOKING STATEMENTS WHICH INVOLVE KNOWN AND UNKNOWN RISKS, DELAYS, AND UNCERTAINTIES NOT UNDER THE COMPANY'S CONTROL WHICH MAY CAUSE ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS OF THE COMPANY TO BE MATERIALLY DIFFERENT FROM THE RESULTS, PERFORMANCE, OR ACHIEVEMENTS IMPLIED BY THESE FORWARD LOOKING STATEMENTS. WE SEEK SAFE HARBOR.
Golden Dawn Minerals Inc.
CONTACT:
Mike Poulin
Investor Relations
604-630-6793
mike@goldendawnminerals.com