VANCOUVER, June 22 /PRNewswire-FirstCall/ - Golden Predator Corp. (TSX: GPD) (the "Company") is pleased to announce that it has expanded its Clear Creek and Gold Dome property holdings to approximately 60 and 170 km(2), respectively, bringing Golden Predator's total Yukon land holdings to more than 600 km(2).
Clear Creek Property
The Company has staked an additional 168 quartz lode mining claims peripheral and contiguous to the Company's existing Clear Creek property, encompassing geologically favourable areas where surface geochemical data, geophysical data and known geological formations suggest the potential to host intrusive related gold mineralization. The Clear Creek property now comprises 300 contiguous claims covering approximately 60 km(2). The property is road accessible year round, 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.
Golden Predator's Phase One 2010 exploration program includes 1,000 m of oriented HQ diameter diamond drilling on the Bear Paw breccia zone followed up by 3,500 m of reverse circulation drilling. The Company plans to diamond drill a select number of historic holes in order to determine the orientation of previously identified mineralization at Bear Paw, and diamond drill five north-south directed holes to test a geological model that mineralization may be following an east-west trend. The RC program will focus on a grid across the established mineralization trend on the Bear Paw hydrothermal breccias. Pending the results of the Bear Paw drilling, other under-explored low-grade bulk tonnage targets on the property will be tested.
Gold Dome Property
The Company has staked an additional 307 quartz lode mining claims peripheral and contiguous to the Company's existing Gold Dome property, encompassing geologically favourable areas where surface geochemical data, geophysical data, current and past placer mine workings, and known geology suggest the potential to host additional gold mineralization. The Company's Gold Dome property hosts one of the largest gold-arsenic-bismuth soil anomalies in the Yukon, and is associated with Cretaceous granodiorite and monzonite intrusions of the Tombstone Plutonic Suite adjacent to source-less placer deposits in Highet Creek. The property now comprises 815 contiguous claims covering approximately 170 km(2). The property is road accessible year-round, located approximately 25 km northwest of Mayo and within 20 km of existing hydro-electric power lines. Placer mining at Highet Creek, which transects the property, has produced in excess of 45,000 ounces of placer gold since 1903, and accounts for almost 25% of all placer gold production in the Mayo area (LeBarge et al., 2002).
Highlights from the Company's 2009 drilling on the Tom Zone at Gold Dome include:(2)
- 10.87 gpt Au over 1.98 m from GD09-004 - 2.56 gpt Au over 9.58 m from GD09-005 - 21.64 gpt Au over 1.03 m from GD09-006 - 11.12 gpt Au over 25.40 m from GD09-007
The Company's Phase One 2010 program at Gold Dome will be the largest exploration program ever undertaken on this underexplored property. The program has recently been updated and includes:
- a minimum of 9,000 m of reverse circulation drilling, targeting soil anomalies in previously untested areas of the property, and following up on mineralization previously identified in the Rudolph Creek-Aorta and Heon zones where historic drill holes into the Aorta structural corridor returned long intervals of gold mineralization including 54.9 m of 0.45 gpt (RC97-11); 43.4 m of 0.56 gpt (SH98-10); 20.3 meters of 1.03 gpt (SH99-23); 8.9 m of 1.81 gpt (SH99-24); and 15.8 m of 1.88 gpt (SH98-12)(3); - 1,500 m of diamond drilling targeting extensions of mineralization previously identified at the Tom zone, and follow up of mineralization identified in other areas of the property during the RC program. The Company plans on utilizing oriented NQ2 core during this program to determine the orientation and attitude of mineralization and aid in structural interpretations; - re-opening and re-mapping the Toby zone trenches to gain a better understanding on the potential controls and orientation on gold mineralization in the area, to be followed up with additional RC and/or Diamond drilling; and - a 500-sample soil geochemical program sampling the poorly tested area between the Harvey-Aorta and Heon zones to test for continuity of gold anomalism across the property.
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 establish a self-funded gold company focused on exploring for and developing world class gold opportunities in Yukon, Canada. The Company has an extensive Yukon property position with an industry leading five advanced exploration gold projects comprising over 600 km(2). Drill programs are planned to commence during June and July 2010 on the Company's Brewery Creek, Gold Dome, Eureka, Clear Creek and Antimony Mountain projects.
Golden Predator intends, through strategic use of planned modular mills at its Taylor and Humboldt mill sites in Nevada, to become a gold producer capable of internally funding its Yukon exploration program by 2012. In addition, Golden Predator benefits from its royalty stream, presently generating in excess of $1.0 MM annually, and is working to create Silver Predator 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. (2) Reported in November 16, 2009 News Release , TSX-V: GPD. (3) Reported in September 24, 2007 News Release, TSX-V RRI.
SOURCE Golden Predator Corp.