Golden Predator Provides 3 Aces Bulk Sampling Progress Report
Vancouver, BC (FSCwire) - Golden Predator Mining Corp. (TSX.V: GPY) (the “Company”) is pleased to announce that as of March 1, 2016 it has completed drilling, blasting, excavation, bagging and loading of approximately 550 tons of gold-quartz vein material from the Sleeping Giant vein bulk sample program at its 3 Aces Project, Yukon, as previously announced.. This initial phase began February 16th, 2016 and is expected to conclude by the end of March 2016. Company geologists elected to continue the program and expand the original 550 ton targeted bulk sample after noting good vein continuity and the occurrence of visible gold within the down-dip continuation of the quartz vein.
The bulk sampling program was designed to extract a minimum of 550 tons of high grade gold-quartz vein from the Sleeping Giant vein. The vein is exposed at surface and contains coarse visible gold. Bulk sampling is designed to give an estimate of the actual grade of the vein given the distribution of coarse gold. The portion of the vein extracted in the bulk sample was defined by closely spaced Rotary Air Blast (RAB) drilling conducted in the summer of 2015. The results of that drilling are summarized below and more fully in the Company’s news release dated September 14, 2015. The 2016 bulk sample program will assist in designing future drill programs to accurately estimate the grade of the vein. Processing of the bulk sample will begin during March and is expected to continue through April.
To view a video overview of the bulk sample program please visit: https://youtu.be/p6QnmnhyseI. The Company is also exhibiting at the Prospectors and Developers Conference (PDAC) in Toronto at booth #2650 from March 6th to March 9th, 2016.
| Sleeping Giant Zone - RAB Significant Results Table | |||||
| Hole | From (ft) | To (ft) | Thickness (ft)1 | Au oz/t2 | Au g/t3 |
| 3ARAB15-01 | 0.00 | 2.50 | 2.50 | 1.39 | 47.60 |
| 3ARAB15-02 | 0.00 | 5.00 | 5.00 | 1.51 | 51.91 |
| 3ARAB15-03 | 0.00 | 2.50 | 2.50 | 1.92 | 65.75 |
| 3ARAB15-04 | 0.00 | 2.50 | 5.00 | 0.75 | 25.75 |
| 3ARAB15-05 | 0.00 | 2.50 | 2.50 | 6.84 | 234.50 |
| 3ARAB15-06 | 0.00 | 5.00 | 5.00 | 2.74 | 93.98 |
| 3ARAB15-07 | 0.00 | 5.00 | 5.00 | 1.54 | 52.70 |
| 3ARAB15-08 | 0.00 | 7.50 | 7.50 | 1.93 | 66.02 |
| 3ARAB15-09 | 2.30 | 5.00 | 2.70 | 1.47 | 50.55 |
| 3ARAB15-10 | 2.00 | 5.00 | 3.00 | 1.00 | 34.45 |
| 3ARAB15-11 | 0.00 | 10.50 | 10.50 | 3.17 | 108.54 |
| including | 0.00 | 2.50 | 2.50 | 9.73 | 333.50 |
| 3ARAB15-12 | 0.00 | 7.50 | 7.50 | 3.04 | 104.39 |
| including | 0.00 | 2.50 | 2.50 | 3.31 | 113.65 |
| including | 5.00 | 7.50 | 2.50 | 5.37 | 184.25 |
| 3ARAB15-13 | 0.00 | 7.50 | 7.50 | 4.64 | 158.97 |
| including | 0.00 | 2.50 | 2.50 | 8.08 | 277.00 |
| including | 5.00 | 7.50 | 2.50 | 5.32 | 182.25 |
- Drill intercepts are reported as true thickness intervals.
- Au grades are reported in troy ounces per short ton
- Au grades are reported in grams per metric tonne
Sleeping Giant Zone
The Sleeping Giant Zone, accessible via an exploration dirt road, encompasses an area approximately 33,000 m2 defined by float and outcrops of quartz veins. To date, it contains one of the 3 Aces property’s two preferred continuous quartz veins offering potential for bulk sampling. The Zone consists of a number of outcropping targets consisting of gently to moderately dipping gold-bearing quartz veins. Located along the road cut on the southern part of the Sleeping Giant Zone, the veins’ apparent dip slope is exposed for about 25m along strike on the north side of the road.
3 Aces Project, Yukon
The 3 Aces property consists of 1,118 contiguous quartz claims (23,000 hectares) located in southeast Yukon. The property is located along the all-season Nahanni Range Road which accesses the Cantung Mine located 40 kilometres to the north.
The 3 Aces property contains a number of quartz veins and vein zones that cut Cambrian aged limestone, shale, quartz grits and pebble chert conglomerates of the Hyland Group. Previous sampling and exploration by Golden Predator (formerly Northern Tiger) has outlined extensive gold-in-soil anomalies over nine square kilometres, including numerous high grade gold showings.
The 3 Aces property is located in the traditional territory of the Kaska Nation. In January 2013, Golden Predator signed an Exploration Agreement with the Kaska Nation, as represented by the Ross River Dena Council and the Liard First Nation, with respect to activities within their traditional territories.
The technical content of this news release has been reviewed and approved by Mike Burke, P. Geo, Chief Geologist and a Qualified Person as defined by National Instrument 43-101.
Golden Predator Mining Corp.
Golden Predator Mining Corp., a Canadian gold mineral exploration company, is focused on advancing the 3 Aces Project and Brewery Creek project in Canada’s North. The Company has undertaken a bulk sampling at the 3 Aces project, focused on high grade native gold bearing quartz veins, to define the distribution and grade of gold in the veins. The Company’s Brewery Creek Project is a past producing heap leach gold mine with a preliminary economic assessment, next steps include advancing the project through feasibility and permitting.
For additional information:
Janet Lee-Sheriff
Chief Executive Officer
(214) 304-9552
info@goldenpredator.com
www.goldenpredator.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. 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 the Company’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, the Company assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/GoldenPred03072016_0.pdf
Source: Golden Predator Mining Corp. (TSX Venture:GPY) http://www.goldenpredator.com
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