Golden Predator Enters into Agreement to Commence Site Evaluation at Brewery Creek Project, Yukon
TSX: GPD
VANCOUVER, Dec. 1, 2011 /CNW/ - Golden Predator Corp.
(the 'Company') is pleased to announce it has retained the services of Gold Canyon Mining & Construction, LLC to advise and assist on advance development planning at the Company's Brewery Creek Project.Gold Canyon Mining, a recognized leader in construction and contract mining services whose clients include many of North America's leading gold producers such as Newmont, Barrick and Kinross, will initially assist with preliminary site selections for future infrastructure development and other mine-construction related activities at Brewery Creek.
Gold Canyon's immediate deliverables include the identification of suitable areas for future heap leach pads, based on proximity to potential mining areas and their amenability to construction once these areas have been further evaluated for their geologic and geotechnical suitability. Gold Canyon will also be providing certain heavy equipment at site to assist in infrastructure maintenance and development.
'We are pleased to begin what we anticipate will become a key long term relationship as we continue with the development of the Brewery Creek Project,' said William M. Sheriff, Chairman and CEO of Golden Predator. 'Gold Canyon's experience with the in-valley heap leach operation at Fort Knox in Alaska, coupled with their expertise in open pit mining, heap leach construction, and operations throughout Nevada, is second to none and is expected to assist Golden Predator's efforts greatly moving forward.'
'We look forward to forging our relationship with Golden Predator, a proven leader in the Yukon's resurgence of gold exploration and mining activity,' said Kerry Bjornson, CEO of Gold Canyon Mining. 'We share Golden Predator's view of a very robust mining future in the Yukon and look forward to playing a key role in its development along with Golden Predator.'
Brewery Creek Project
Golden Predator controls the Brewery Creek Project and is working aggressively towards a near-term production decision. To date in 2011 the Company has completed more than 300 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 120 of these holes. Year-round drilling continues at Brewery Creek. 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 Gold Canyon Mining and Construction, LLC
Gold Canyon is a leading provider of construction and contract mining services throughout the Western United States, Western Canada and Alaska. Gold Canyon's current and past clients include major mining firms engaged in open pit gold mining. Gold Canyon has several hundred full-time employees, an outstanding safety program and over 500 pieces of mining equipment located primarily in Nevada and Alaska.
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
(604) 648-GOLD (4653)
info@goldenpredator.com
www.goldenpredator.com
Gold Canyon Mining and Construction
Kerry Bjornson, Chief Executive Officer
(775) 657-6720
kbjornson@gcmining.com
www.gcmining.com