Golden Predator Positioned to Advance Brewery Creek; Appoints Chief Operating Officer and Chief Mining Engineer
TSX: GPD
VANCOUVER, Nov. 22, 2011 /CNW/ - Golden Predator Corp.
(the 'Company') is pleased to announce the appointment of Mr. Michael Maslowski as Chief Operating Officer and Mr. Randall (Randy) Peterson as Chief Mining Engineer.Mr. Maslowski has been charged with responsibility for all the Company's exploration and development operations, with his initial focus being the advancement of the Brewery Creek Project to a near-term production decision. Mr. Peterson's primary responsibility will be to develop and implement operational plans for the Brewery Creek Project.
'These appointments mark a major milestone for Golden Predator as we move towards production at our flagship Brewery Creek Project,' said William M. Sheriff, Chairman and CEO. 'I look forward to working closely with both Mike and Randy as we work to transition into a mid-tier gold producer.'
Michael G. Maslowski, BSc, CPG
Mr. Maslowski brings 30 years of exploration and production experience to Golden Predator. Prior to his appointment as Vice President, Exploration (Canada) of the Company in June 2011, Mr. Maslowski served as the Assistant General Manager for Coeur d'Alene Mines's 6,000 tpd Palmarejo Mine in Mexico. Mr. Maslowski oversaw daily open pit and underground operations (including managing the work of 950 employees & on-site contractors as well as managing corporate and governmental communications). Under Mr. Maslowski's management the Palmarejo Mine grew from construction phase to sustained production, with silver and gold production rising from 350,000 to 600,000 oz and 7,000 to 10,000 oz per month, respectively. Mr. Maslowski holds a BSc in Geological Engineering from the Colorado School of Mines and is a Certified Professional Geologist with the American Institute of Professional Geologists.
Randall D. Peterson, MSc, MBA, PEng
Mr. Peterson has over 25 years' experience in all facets of the mining industry, from mine planning and design through permitting, operations and reclamation in the USA, Canada, Australia and Mexico. Mr. Peterson has worked in coal, precious metals and phosphate operations, in both surface and underground operations, as well as in the industrial construction industry. Mr. Peterson holds a Master of Science degree and a Master of Business Administration degree from the University of Utah and is a Registered Professional Engineer.
Brewery Creek Project
Golden Predator holds an option to acquire up to a 75% interest in the Brewery Creek Project from Alexco Resources and is working aggressively towards a near-term production decision. To date in 2011 the Company has completed more than 290 drill holes at Brewery Creek, totalling over 45,000 m. Drilling has been concentrated on delineating the two 2011 discoveries at the Bohemian-Schooner and Sleeman Zones, with significant additional drilling on the North Slope and Classic Zones, as well as the newly identified Ice Fog Zone. Results are pending for over 100 of these holes. Year-round drilling continues at Brewery Creek, with 2 core rigs and one RC rig presently operating on site. Resource modeling in support of an updated resource estimate is well underway.
The Brewery Creek Project is a past producing heap leach gold mining operation with a total of 278,484 oz Au produced from seven near-surface oxide deposits along the property's Reserve Trend from 1996 through 2002, when the mine (operated by Viceroy Resource Corporation) shut down due to low gold prices. The 187 km(2) property is located 55 km due east of Dawson City, accessible by paved and gravel roads from the junction of the North Klondike and Dempster Highways. In May 2011 the Company staked an additional 204 quartz claims east of the historic Brewery Creek property, increasing the Project to a total of 997 quartz claims.
The Project is in receipt of all necessary permits, including the Class 3 Mining Land Use permit required to conduct additional exploration. The Brewery Creek Project is authorized under a Type A Water License with an expiry date of December 31, 2021, subject to the restrictions and conditions contained in the Yukon Water Act and Regulations. The Project also has a production license with an expiry date of December 31, 2021, and the ninety-three mining leases covering mine facilities, pits, waste dumps and adjacent drill indicated deposits have expiry dates beginning in 2016. In addition, a Socio-Economic Accord with Tr'ondek Hwech'in First Nation with respect to the Brewery Creek Project is in place.
About Golden Predator Corp.
Golden Predator Corp., Yukon's Gold Company, is a well-funded exploration company mandated to become a mid-tier gold producer. Golden Predator's road-accessible advanced properties including its flagship Brewery Creek Project at which the Company is moving aggressively to a near term production decision, as well as its Grew Creek and Clear Creek Projects.
Golden Predator has one of the largest controlled land position in the Yukon, with exploration holdings in excess of 1,400,000 acres (over 5,700 km(2)), and is committed to strong relationships with Yukon First Nations and communities. Golden Predator's management and technical teams continue to lead aggressive exploration programs in the underexplored regions of the Yukon, and are driven to bring value to shareholders and leave a positive legacy in the Yukon.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This press release contains projections and 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 involving a number of risks and uncertainties and are not guarantees of future performance. There are numerous risks and uncertainties that could cause actual results and Golden Predator's plans and objectives to differ materially from those expressed in the forward-looking information. 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, Golden Predator assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.
Golden Predator Corp.
CONTACT: Golden Predator Corp.
William M. Sheriff, Chairman & Chief Executive Officer
or
Frank Lagiglia, Director of Communications
(604) 648-GOLD (4653)
info@goldenpredator.com
www.goldenpredator.com