VANCOUVER, July 13 /PRNewswire-FirstCall/ - Golden Predator Corp. (TSX: GPD) (the "Company") is pleased to announce that it has commenced oriented core diamond drilling on its Clear Creek project, located 110 km east southeast of Dawson City in Yukon. This diamond drill is the 4th rig to commence drilling on the Company's Yukon projects in 2010.
The Clear Creek property comprises 300 contiguous claims covering approximately 60 km(2). The property is road accessible year round, and is located 65 km northwest of Mayo in an active placer mining area that has produced more than 129,000 oz Au to date (Allen et al., 1999). (1)
Anomalous gold values in soil and rock on the Clear Creek property are associated with mid-Cretaceous aged Tombstone plutonic suite granitic stocks and the Bear Paw breccia zone. Previously identified mineralization is associated with sheeted veins in and around the stocks and hydrothermal breccias, which are spatially, and possibly temporally, related to the intrusive rocks. Redstar Resources drilled 11 holes on the Bear Paw zone between 1999 and 2000 and returned a best result of 2.3 gpt Au over 31.8 m in hole BP00-10.
The Clear Creek diamond drill program will consist of 4 HQ diameter oriented diamond drill holes totaling approximately 1,000 m. The first two drill holes will focus on further delineating and verifying gold mineralization from historic drill holes at the Bear Paw breccia zone and to test a new geological model that gold mineralization may be following a northeasterly trend.
The remaining two diamond drill holes will test a large gold soil anomaly in the Contact Zone that trends in two different directions and a sheeted vein target in the Pukelman quartz monzonite stock.
A 3,500 m reverse circulation (RC) drill program is planned to follow up on the results of the diamond drilling program and will focus on extending the gold mineralization trend on the Bear Paw hydrothermal breccias and information derived from the Contact zone/ Pukelman diamond drilling. A large soil anomaly on the Saddle Zone will also be drilled.
The Company has recently completed 1,430 m in 6 diamond drill holes at its Brewery Creek project and 2,930 m in 27 RC drill holes at its Eureka project (see news releases dated June 7th and 10th). Results from these two projects are pending.
The technical content of this news release has been reviewed and approved by Corwin (Cor) Coe, A.Sc.T., B.Sc., P.Geo., the Company's Vice-President, Exploration (Canada) and a Qualified Person as defined by National Instrument 43-101.
About Golden Predator Corp.
Golden Predator Corp.'s corporate mandate is to be the leading gold property explorer and developer in Yukon, Canada. The Company has an extensive Yukon property position with an industry leading six advanced exploration gold projects comprising over 700 km(2).
Drill programs have commenced on the Company's Clear Creek, Gold Dome, Brewery Creek and Eureka projects with plans to commence drilling at Antimony Mountain in August, 2010.
Golden Predator benefits from its royalty stream, presently generating in excess of $1.0 MM annually. Golden Predator also continues to advance its significant US gold projects and is working to create Silver Predator Corp. to monetize its substantial Nevada-based silver assets.
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.
(1) Reported in September 29, 2000 News Release, CDNX:RST.
SOURCE Golden Predator Corp.