Golden Predator Encounters Multiple Intercepts, including 56.5 m of 3.2 g/t
Gold, at the Newly Discovered Bohemian High-Grade Zone, Brewery Creek
Project, Yukon
TSX: GPD
VANCOUVER, Dec. 8 /CNW/ - Golden Predator Corp. (TSX: GPD) (the "Company") is extremely pleased to announce results for the last 10 holes of its 2010 program at its Brewery Creek Project. Of major significance are results from the newly discovered Bohemian high-grade Zone, including 50.5 m of 2.79 g/t Au beginning at a depth of 15.5 m in core hole BC10-168, 56.5m of 3.20 g/t Au beginning at a depth of 27 m in core hole BC10-170, and 27.5m of 1.15 g/t Au from a depth of 39.5 m in core hole BC10-171.
"We are tremendously pleased with our 2010 drill program results from Brewery Creek," said Chairman & CEO William M. Sheriff. "This makes the third major discovery from our 2010 drill programs, and we are looking forward to the resumption of drilling on both Grew Creek and Brewery Creek in February 2011, and Clear Creek when conditions allow, with plans for resource estimates on all three by year end 2011."
Brewery Creek
The Company's late-season drilling focused on the eastern extension of the 15 km long main mineralized trend at Brewery Creek and included seven oriented core holes from the Bohemian Zone totaling 948.54 m and three RC holes from the Golden Zone totaling 399.29 m. Approximately 130 historic holes had previously been drilled in a widespread area around and within the Bohemian zone; however, prior to this year's drilling, these did not define coherent continuous mineralization. The first higher grade intercept in the area was Alexco Resource Corp.'s hole BC06-127 which intersected 5.14 g/t Au over 34.88 m(1). Following up on this hole, Golden Predator's current drilling has been successful in partially delineating a newly discovered high-grade zone that traverses through the Bohemian Zone and projects toward the Schooner Zone approximately 400 m to the east. Yukon property holding map, Brewery Creek project overview, drill plan, and Bohemian Zone maps can be found on the Company's website at http://www.goldenpredator.com/documents/NR10-37_Brewery-Creek.pdf.
Historic trenching at Schooner yielded 2.58 g/t Au over 30 m in trench TR98-SK10 and 2.92 g/t Au over 12 m in trench TR 98-SK7. Current drilling has delineated mineralization along more than 200 m of strike with an estimated 15 to 25 m true thickness, and remains open at depth and along strike. Both gold and arsenic in soils along this trend show that the system is likely to continue easterly to Schooner at a minimum.
Expansion of this newly identified high-grade zone will be a top priority when drilling resumes in February, 2011. Significant progress has been made by Golden Predator at the Pacific, Blue, Lower Fosters, Golden, Lucky, and Bohemian Zones during the past two years, with 59 holes drilled by the Company in addition to the 14 holes drilled by Alexco since the last resource calculation in 2003. As a result of the Company's successful 2009 and 2010 drill programs at Brewery Creek, Golden Predator plans to initiate an updated resource calculation in Q2-2011. This updated resource calculation will also incorporate data from additional holes planned for drilling in the early spring 2011 campaign. Exact timing of the update will be dependent on the progress of the 2011 drilling to delineate the Bohemian-Schooner corridor.
The Company's Brewery Creek Property, located 55 km due east of Dawson City, Yukon comprises 793 quartz claims over 165 km(2). Brewery Creek was the site of a heap-leach gold mine which operated from 1996-2002 and produced 279,541 ounces of gold. Current resources remaining on the Property include an Indicated Resource of 3.98 MM tonnes grading 1.135 g/t Au and an Inferred Resource of 2.2 MM tonnes averaging 2.01 g/t Au (Diment and Simpson, 2009). The Brewery Creek Project is authorized under a Type A Water License with an expiry date of December 31, 2021, subject to the restrictions and conditions contained in the Yukon Water Act and Regulations. The Project also has a production license with an expiry date of December 31, 2021.
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2010 Final Round Drill Holes from the Brewery Creek Project, YT
Significant Intercepts (1), (2)
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From To Interval Au
Drill Hole (m) (m) (m) (g/t)
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Diamond Drill Holes
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BC10-168 15.5 66 50.5 2.79
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including 37.5 59 21.5 5.35
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BC10-169 0 14 14 0.58
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and 39 45 6 0.76
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and 57 62 5 0.86
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BC10-170 5 8.9 3.9 3.59
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and 27 83.5 56.5 3.20
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including 45 74 29 5.89
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BC10-171 0 10 10 3.02
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and 35 76 41 0.86
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including 39.5 67 27.5 1.15
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and 105 107 2 1.49
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BC10-172 47.5 109.4 61.9 0.66
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including 63 80 17 1.24
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BC10-173 82 95.5 13.5 0.53
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BC10-174 34 35.5 1.5 1.17
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and 103.2 116.9 13.7 0.54
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RC Holes
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BCRC10-2324 No significant values
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BCRC10-2325 138.68 141.73 3.05 1.45
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BCRC10-2326 No significant values
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(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 metres. 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.
Sampling Methodology, Quality Control and Assurance
Samples were fire assayed by ALS Chemex in Vancouver. Refer to the Company's news release dated September 10, 2010 for a complete discussion of sampling methods, quality control and assurance.
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 three advanced gold projects and a pipeline of 6 prospects as well as an extensive exploration landholding comprising approximately 1,800 km(2). Winter drilling will commence during February 2011 on Grew Creek and Brewery Creek. In 2011, the Company will continue aggressive drill programs and work towards completing initial 43-101 resources for Grew Creek and Clear Creek and updating the existing 43-101 resource for Brewery Creek.
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.
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(1) Reported in June 1, 2006 News Release, TSX: AXR
For further information: Golden Predator Corp., Investor Relations, (604) 648-GOLD (4653)
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