VANCOUVER, October 25, 2010 /PRNewswire-FirstCall/ -- Golden Predator Corp. (TSX: GPD) (the "Company") is pleased to announce results from its initial drill program at the Carlos Zone of its road-accessible Grew Creek project. Three oriented core holes were drilled in order to determine the structural orientations of mineralized veins on the project and better evaluate the mineralization reported from historic drilling in the area. All three holes intersected significant mineralization including 1.72 g/t Au over 146.3 m in hole GC10-001. Hole GC10-002 returned 1.21 g/t Au over 132.18 m and 31.75 m grading 2.08 g/t Au and bottomed in mineralization. Hole GC10-003 encountered 60.85 m of 1.93 g/t Au and 8.5 m of 1.89 g/t Au. Highlights of the drill results are shown in the table below. Silver assays are pending.
"I am obviously excited by the consistency of the mineralization we have encountered at Grew Creek, and am pleased to place Grew Creek beside Clear Creek as our premier advance projects for 2011. We are anticipating significant progress towards resource calculations on both Grew Creek and Clear Creek next year, as well as expansion of the existing resource at Brewery Creek" said William M. Sheriff, Chairman and CEO. "Furthermore, I am very proud of our accomplished technical team which identified this opportunity and engineered a very successful drill program based solely on new structural interpretations."
The Company's 2010 test drill program at Grew Creek consisted of three HQ diameter oriented core drill holes totaling 710.18 m in the Carlos Zone. The Grew Creek project is located 32 km southwest of Faro, Yukon. The property's 72 km2 encompasses 363 claims, extending along both sides of the Robert Campbell Highway for approximately 27 km. The Carlos Zone lies approximately 900 m off of the highway, and power lines traverse the project area.
Earlier this year the Company's geologists analyzed the structural orientations of mineralized veins exposed on the discovery outcrop and in available core from historic drilling and concluded that previous drilling on the project had not been optimally oriented . Historic drilling in the Carlos Zone was aligned almost exclusively in a south-southwesterly direction (azimuth 198degrees), targeting a Tintina Fault splay which trends west-northwesterly (azimuth 295degrees). The results of Golden Predator's three test holes support the conclusion reached by its geological team and show that while the envelope of mineralization aligns along a west-northwesterly splay of the Tintina fault (azimuth 295degrees) it occurs in veins and veinlets filling a conjugate fracture set that lies strongly oblique (25degrees to 85degrees) to the main trend. These mineralized veins had not been targeted in historic drilling.
Technically, compressional strike slip movement along the Tintina Fault created a stress regime that allowed the development of open space along Riedel fractures oriented at azimuth 320degrees and antithetic fractures at azimuth 020degrees. The Company's 2010 drill program has established a preferred orientation for future drilling of approximately azimuth 245degrees.
The Company is rapidly advancing a comprehensive three-dimensional model from which an extensive drilling program is anticipated to commence in February, 2011. The accessibility and infrastructure available at Grew Creek support year round operations and enables the Company to pursue a major drill program throughout the winter months of 2011 and continuing into the traditional field season. The Company's work plan is being designed with the goal of establishing a resource calculation as soon as possible.
2010 Drill Hole Highlights from the Carlos Zone, Grew Creek Project, YT Select Significant Intercepts (1), (2) Drill Hole From (m) To (m) Interval (m) Au (g/t) GC10-001 0.00 40.00 40.00 overburden GC10-001 40.00 186.30 146.30 1.72 including 65.53 68.58 3.05 17.93 and 77.72 109.95 32.23 2.80 and 170.58 186.30 15.72 2.90 GC10-002 0.00 37.90 37.90 overburden GC10-002 39.32 171.50 132.18 1.21 including 100.55 136.06 35.51 2.19 GC10-002 196.85 228.60-EOH(3) 31.75 2.08 including 226.74 228.60-EOH(3) 1.86 9.25 GC10-003 0.00 52.80 52.80 overburden GC10-003 60.55 121.40 60.85 1.93 including 62.32 104.85 42.53 2.53 including 62.32 70.10 7.78 7.65 GC10-003 159.86 168.36 8.50 1.89
(1) Results where g/t x m is less than 2.5 are not reported in this table, unless the individual grade was greater than or equal to 1 g/t gold over a minimum of 1.0 m. Other intervals require greater than or equal to 0.7 g/t Au to be included.
(2) Conversions: grams per tonne (g/t) to troy ounces per short ton - g/t divided by 34.2857 or multiply by 0.0292; meters to feet: 1 m equals 3.28084 ft.
(3) "EOH" indicates end of hole; note mineralization continued to end of hole.
A detailed plan map including drill holes and a schematic showing structural orientation of mineralization and model of mineralization is available for viewing at the Company's website http://www.goldenpredator.com/i/pdf/2010-10-25_NR.pdf
Release of results from Golden Predator's other drilling projects will continue as assays are received. Current-year drilling is complete at Antimony, Clear Creek Cynthia, Grew Creek and Gold Dome; the Company's Brewery Creek program is still underway.
Sampling Methodology, Quality Control and Assurance
The diamond drill holes were drilled by skid mounted drills utilizing HQ core size (6.4 cm/2.5). Core is cut or split and one half is sent to the lab for analysis and the other half retained on site.
Samples were sent to ALS Mineral's prep lab in Whitehorse and then forwarded to one of their ISO 9001 certified preparation facility in Terrace or Vancouver. The pulps were analyzed at ALS Mineral's ISO 9001 certified laboratory in Vancouver. Approximately 5% of the pulps are sent for secondary check assays at Stewart Group's Eco Tech laboratory in Kamloops, B.C. Blanks, commercial standards and duplicate samples were included in each batch. To determine Au levels at the ppb level detection limit of 5-10,000 ppb (5-1000 ppb at Stewart Group) 30 g samples are fire assayed then digested in aqua regia solution and analyzed by atomic absorption. At Eco Tech, values over 1,000 ppb are re-assayed by fire assay, digested with aqua regia and then re-analyzed by an atomic absorption instrument (detection limit 0.03 g/t). At ALS Minerals, values over 10 g/t Au are re-assayed by fire assay followed by a gravimetric finish (50 ppb lower detection limit). Additional check-analyses are being carried out by the lab which did not receive the original sample.
Other elements, including silver, were analyzed by a 35 elements package (ME-ICP41) in which the sample is dissolved in an aqua regia acid solution and then analyzed by ICP-AES (Inductively Coupled Plasma - Atomic Emission Spectrometry). Ag values over 100 g/t are re-assayed by method Ag-OG46 which involves digestion in Hydrobromic, Nitric and Hydrochloric acids followed by analysis by ICP-AES. Ag values over 1,500 g/t are re-assayed by method Ag-GRA21, a 30 g fire assay with gravimetric finish (5 g/t lower detection limit).
Drilling Sampling Protocol / Chain of Custody/Data Verification
Golden Predator employs high standards of protocol with respect to the handling and chain of custody of its samples. All sampling is conducted under the supervision of the Company's project geologist and the chain of custody from the drill to the sample preparation and logging facility is continually monitored by the project geologist. Samples are shipped to the lab by qualified couriers or Company personnel under locked bags with independent identification lock numbers. Data verification of the analytical results includes a statistical analysis of the duplicates, standards and blanks that must pass certain set parameters for acceptance to insure accurate and verifiable results. All assays are reported as drilled intervals and are not to be interpreted as true widths, which are undetermined at this time.
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 seven advanced exploration gold projects comprising approximately 1,400 km2. Drill programs have been initiated on all seven advanced projects and continue at the Brewery Creek project. Additional results from these programs are pending.
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.
TSX: GPD http://www.goldenpredator.com For further information: Golden Predator Corp. Investor Relations +1-604-648-GOLD (4653)
SOURCE Golden Predator Corp.