FRANKURT EXCHANGE: 3G8
VANCOUVER, June 16 /PRNewswire-FirstCall/ - GOLDEN DAWN MINERALS (TSXV-GOM, FRANKFURT - 3G8) (the "Company") is launching a program to evaluate bulk mineable gold copper potential in areas of widespread mineralization identified from historical exploration on the Wild Rose property, "the property", located near Greenwood, in southern British Columbia, Canada. Most of the previous exploration on the property has been directed at the Wild Rose and Deadwood zones, two of the four zones of mineralization on the property. Historical drilling of multiple holes on the Wild Rose vein system intersected widespread gold mineralization extending over a broad zone 200 by 200 meters in extent. In her assessment on the property, filed at http://aris.empr.gov.bc.ca/ArisReports/28307B.PDF (2006), Linda Caron M.Sc., P.Eng. stated "The Deadwood zone is located a few hundred meters on strike to the northwest of the Wild Rose zone and likely represents the on-strike continuation of the Wild Rose zone. The Deadwood zone is an area of silicification and widespread low-grade gold mineralization (including several high grade veins) in the hangingwall of the Wild Rose fault. Results to 63.16 meters averaging 0.95 g/t Au (including 0.15 m at 134.2 g/t Au) have been returned from drilling in this area". The Deadwood zone is located on the northwest side of the property ataround 500 meters from the entrance of the Wild Rose adit.
Gold geochemical anomalies in soils extend over a broad zone exceeding 3 square kilometers. The same area displays several broad IP (induced polarization) anomalies. Helicopter Airborne TEM conductors are located central to two of these zones, that represent volcanogenic massive sulphide exploration targets.
The conceptual geological exploration target for this area is visualized as a zone of gold copper mineralization representing a significant percentage of the volume within the prospective host rock, a zone measuring 1,000 m by 1,000 m by 200 m deep or 600,000,000, tonnes. This geological exploration target is conceptual in nature and no mineral resource is known to be present within this area. There can be no assurance that any resource will be discovered, and if discovered whether it may be economically mined. The target is presented here for purposes of discussion of the planned exploration program and should not be relied upon for investment decisions.
Exploration is also planned to pursue both the Wild Rose vein system and the previously mined Maymac vein on the Company's adjoining Boundary Falls property for early test production vein material to be milled either through the mill on the Boundary Falls property, or custom processed by other facilities suchas the Kinross mill located at one hour drive to the south in Washington State.
Linda Caron (2006 Assessment Report as mentioned above) described the Wild Rose veins as follows: "The veins are typically massive pyrrhotite-pyrite-chalcopyrite veins that average 1-2 meters in width, although locally they are quartz veins with lesser pyrrhotite and pyrite, and with minor arsenopyrite. Considerable drilling (and underground exploration) has been done to test the veins. Some of the better drill intercepts include 2.3 meters grading 8.7 g/t Au, 2.0 meters grading 9.3 g/t Au, and 0.7 metersgrading 25.7 g/t Au. The depth potential of the veins increases to the northwest, and all veins are open on strike and to depth in this direction. In addition, the ground to the northeast remains unexplored forparallel veins." This entire vein system lies within the bulk tonnage conceptual bulk tonnage target area described above in this release.
Golden Dawn has recently signed a letter of intent for a Joint Venture with Hi Ho Silver Resources Inc. ("Hi Ho") to advance exploration on the Attwood property, also located in the Greenwood Mining District. Under this agreement, Hi Ho will pay the Company $143,750 in cash, issue one million shares of Hi Ho Silver and complete work commitments of $862,500 within three years to earn a 50% interest in this property. As discussed in an earlier release the Attwood property represents an attractive gold and base metal target with a number of undrilled geophysical and geochemical anomalies.
There are currently no known resources under NI43-101 located on the properties. There can be no assurance that any such resources will be found, or if found that they can be mined at a profit.
The contents of this press release have been reviewed by S. A. Jackson, PhD, P.Geol., a qualified person.
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.