FRANKFURT EXCHANGE: 3G8
VANCOUVER, April 4 /PRNewswire/ - GOLDEN DAWN MINERALS INC. (TSXV: GOM) (FRANKFURT: 3G8) is pleased to announce continued excellent results from four additional diamond drill holes from an ongoing drill program at the Wild Rose-Tam O'Shanter properties in the Greenwood Mining District, BC. In the fall of 2010 Golden Dawn initiated a drill program to test the Wild Cat and Wild Rose vein systems and their apparent strike extent to the northwest known as the Deadwood Gold Zone. Golden Dawn has now completed 12 holes totaling 1,877.8 m of drilling. Golden Dawn had previously reported upon the results from holes 10WR01 to 10WR06 (Golden Dawn news releases dated January 12 and January 24, 2011).
Current drilling conducted by Golden Dawn, together with historical drilling results, has now confirmed the presence of a significant widespread alteration zone (the Deadwood Gold Zone) comprising low-grade gold-copper (Au-Cu) mineralization along a strike length of approximately 1,000 m. The zone has an apparent horizontal width of up to 160 m and has been tested to a vertical depth of approximately 150 m below surface. The Deadwood Gold Zone remains open in all directions.
Collectively, the results of the 2010-2011 Wild Rose drill program completed by Golden Dawn and the results of previous drilling conducted by others, have outlined a remarkably consistent zone of low-grade gold-copper mineralization that is a bulk-tonnage target. Drill holes 10WR07 to 11WR11 have tested the target over a strike length of more than 500 m. Golden Dawn is encouraged by the consistency of these results and will initiate a resource study once the final results of all the 2011 drilling are received (final results are expected by mid-April, 2011).
Drill holes 10WR07 through 11WR10, have intersected a consistent upper stratigraphic package with quartz veined, brecciated and hornfelsed sediments and volcanic rocks with minor dioritic intrusive units overlying a lower package of thinly bedded siltstones, sandstones and minor conglomerates. The upper portion of the stratigraphy exhibits moderate to intense silicification and consistent disseminated sulphide mineralization, which is associated with biotite (potassic) alteration that in turn yields remarkably consistent low grade gold mineralization. These holes are located between 500 and 900 m northwest of the Wild Rose and Wild Cat veins. Within this large low grade Au-Cu mineralized zone, discreet quartz veining was occasionally encountered that returned higher grade results, as shown in Table 1, similar to the Wild Rose and Wild Cat vein systems to the southeast.
Drill hole 10WR07, initiated in 2010, was completed following the resumption of drilling in February 2011 and is currently the furthest drillhole northwest of the Wild Rose and Wild Cat vein area, some 900 m to the northwest. Hole 10WR07 intersected 95 m core length of 0.20 g/t Au between 43 m and 138 m (Table 1). Hole 11WR08 was drilled approximately 65 m southeast of hole 7 and intersected a similar package of rocks. Hole 11WR08 intersected a broad low grade zone of mineralization averaging 0.54 g/t Au (and 0.03% Cu) over 81.68 m core length from 82.0 to 163.68 m. Within that interval, the main zone of intensely silicified and sulphidized sediments and volcanics assayed 0.72 g/t Au over 57.0 m core length between 90.0 m and 147.0 m with a high grade zone of 9.62 g/t Au over 2.5 m core length from 105.0 to 107.5 m (Table 1.). Hole 11WR09 was drilled a further 90 m southeast of hole 11WR08 and again intersected the same package of hornfelsed, silicified and sulphidized sediments and volcanic rocks and yielded low grade zone that assayed 0.23 g/t Au over 73.0 m core length between 45.0 m and 118.0 m.
Finally, hole 11WR10, which was completed approximately 140 m southeast of hole 11WR09 and was stepped back to complete a slightly deeper cut of the stratigraphy, collared into an intensely silicified and sulphidized sandstone overlying the hornfelsed package of sediments and volcanics observed in the previous 3 drill holes. This package averaged 0.43 g/t Au over 127.0 m core length with several high grade zones approaching 1 g/t with 0.79 g/t Au over 11.0 m core length from 8.0 to 19.0 m, 0.78 g/t Au over 29.0 m core length from 25.0 to 54.0 m, and 0.86 g/t Au over 11.0 m core length from 111.0 to 122.0 m (Table 1).
The Au-Cu mineralization at the Deadwood Zone is associated with anomalous but fairly low concentrations of arsenic, antimony and other 'epithermal type indicator elements'. The lack of a consistent epithermal geochemical signature and the presence of a consistent Au-Cu relationship is strongly suggestive of a classic porphyry Au-Cu model for this mineralization. The relatively minor amount of intrusive rocks intersected by the drilling thus far, and the apparent relation between mineralization and stratigraphy, is indicative of a distal zonation.
The assay results for 2 additional drill holes, completed a further 35 m and 85 m to the southeast of hole 11WR10, are still outstanding and are expected shortly. Golden Dawn will continue to evaluate the full extent of the property for other zones of mineralization, along with potential extensions of the currently identified Deadwood Gold Zone that remain open in all directions, based on the following.
TABLE 1. Summary assay results for drill holes 10WR07 to 11WR10, along with previously released drill holes 10WR01-06 and historical drill hole 92-27.
|Drill Hole||From (m)||To (m)||Interval (m)||Au (g/t)||Cu (%)|
|Drill Hole||From (m)||To (m)||Interval (m)||Au (g/t)||Cu (%)|
* Previously reported January 24, 2011
** Previously reported January 12, 2011
*** Historical diamond drill hole completed in 1992 by Minnova Inc.
The reader is cautioned that historical drilling results are being confirmed by current drilling, and such historical results cannot be relied upon until reconfirmed. There are no known mineral resources on the property, and there can be no assurance that any mineral resources will be discovered on the property and, if discovered, there is no assurance that any mineralization may be economically extracted. The reader is referred to the Company's website for a PowerPoint and Video presentation illustrating the historical drilling and the target zone for current drilling activity.
The information in this release has been reviewed on behalf of the Company by consultants Dr. Stewart A. Jackson, P. Geol., and Michael Dufresne, M.Sc., P.Geol., Qualified Persons as defined by NI 43-101. The program is being supervised by Mr. Dufresne of APEX Geoscience Ltd.
ON BEHALF OF THE BOARD OF DIRECTORS OF
GOLDEN DAWN MINERALS INC.
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.
SOURCE Golden Dawn Minerals Inc.