GOLDEN DAWN SCHEDULES RESOURCE CALCULATION FOLLOWING INTERSECTION OF 138.0 M GRADING 0.36 G/T GOLD THAT EXTENDS BULK-TONNAGE TARGET, DEADWOOD GOLD ZONE, GREENWOOD PROJECT, SOUTH CENTRAL B.C., CANADA
21 Apr, 2011, 12:50 ET
FRANKFURT EXCHANGE: 3G8
VANCOUVER, April 21 /PRNewswire/ - Golden Dawn Minerals Inc. (TSXV: GOM), (Frankfurt: 3G8) has released results from the final 2 holes from a 12 hole diamond drill program at the Wild Rose-Tam O'Shanter properties in the Greenwood Mining District, British Columbia. Since the fall of 2010, Golden Dawn has drill tested the Wild Cat and Wild Rose vein systems and their extent to the northwest known as the Deadwood Gold Zone. Golden Dawn has completed 12 holes totaling 1,877.8 m and has previously reported upon the results from holes 10WR01 to 10WR10 (Golden Dawn news releases dated January 12, 2011, January 24, 2011 and April 4, 2011).
Current drilling, together with historic 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 metres and has been tested to a vertical depth of approximately 200 metres below surface. The Deadwood Gold Zone remains open in all directions.
Collectively, the results of the 2010-2011 Wild Rose-Tam O'Shanter drill program completed by Golden Dawn, and the results of previous drilling conducted by others, have outlined a remarkably consistent zone of widespread, low-grade Au-Cu mineralization that is a potential bulk-tonnage target. Golden Dawn is encouraged by the consistency of the alteration and gold results intersected to date, and has confirmed the results of previous historic drilling. Based upon these results, Golden Dawn will now proceed with a resource calculation for the Deadwood Gold Zone.
As in the previous 10 drill holes , the current 2 holes, 10WR11 and 11WR12, have intersected a remarkably 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 350 m and 400 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 the associated table, similar to the Wild Rose and Wild Cat vein systems to the southeast.
Drill hole 10WR11 intersected a wide, low grade gold zone of 0.28 grams per tonne (g/t) Au over 116.0 m core length with a couple of higher grade zones including 0.69 g/t Au over 14.0 m core length and 1.03 g/t Au over 7 m core length (see table below). Drill hole 10WR12 also intersected wide, low grade gold zone of 0.36 g/t Au over 138.0 m core length with a couple of higher grade zones including 1.06 g/t Au over 18.0 m and 0.71 g/t Au over 9.0 m (see table below).
As indicated in the previous press release dated April 4, 2011, 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.
Golden Dawn will continue to evaluate the full extent of the large property package for other zones of mineralization, along with potential extensions of the currently identified Deadwood Gold Zone that remains open in all directions. A program of geophysical surveying, reviewing and extending geochemical coverage of soils, and a review of all geological data will precede and accompany continued drilling over the next 6 months.
Summary assay results for drill holes 11WR11 and 11WR12, along with previously released drill holes 10WR01 through 11WR10, and historic drill hole 92-27, are shown in the summary table below.
SUMMARY ASSAY RESULTS
* Previously reported April 4, 2011.
** Previously reported Jan. 24, 2011.
*** Previously reported Jan. 12, 2011.
**** Historic diamond drill hole completed in 1992 by Minnova Inc.
The reader is cautioned that 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 an illustration of 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, MSc., P.Geol., Qualified Persons as defined by National Instrument 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.
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