VANCOUVER, British Columbia, Dec. 05, 2017 (GLOBE NEWSWIRE) — Golden Predator Mining Corp. (TSX.V:GPY) (OTCQX:NTGSF) (the “Company” or “Golden Predator”) announced today that 2017 exploration results from its district-scale 3 Aces Project in southern Yukon indicate the potential for a significant near surface open pit gold target; and that the Company has recruited an internationally recognized exploration executive to lead its exploration program.
To date, almost 300 drill holes, over 100 km2 of soil sampling, many kilometers of trenching and road building, and the processing of a 750+ tonne bulk sample has been completed at 3 Aces. Executive Chairman William M. Sheriff states that: “Assay results are still being received and we have a lot of information to release to the market over the next several weeks. A geological model is clearly emerging from the enormous data set we have generated. The model confirms both a significant high-grade underground opportunity and a large, relatively near surface bulk target which, if proven, offers the potential for a more rapid development of mineralization amenable to bulk mining.”
Golden Predator has engaged Rex Brommecker as its new Exploration Director with primary responsibility for the 3 Aces Project. Mr. Brommecker (see biography below) has extensive experience leading exploration teams that have successfully discovered and established world class discoveries. His experience includes senior leadership positions at AngloGold Ashanti and Barrick Gold.
“This year’s program has surprised us in that we now see the evidence for extensive through-going shear zones with continuity measured in kilometers. These shear zones cut stratigraphic units known to carry gold mineralization and the shears in fact typically return strong gold assays where they have been intercepted. The stratigraphic units they intersect are thought to form a promising breached and tilted regional anticline extending through the Central Core Area and southward to the Sprogge area. This understanding led us to complete the acquisition of the Sprogge package announced on November 30th,” Sheriff explained. “The Company has decided that these insights necessitate a different scale of planning and exploration programming. With this scale of target we are extremely fortunate to have Rex join and lead the team.”
Ongoing exploration programs at 3 Aces has established that (1) high gold grades can be reliably and repeatedly drill sampled with confidence; (2) mineralized intervals are structurally controlled and found at predictable stratigraphic positions; and (3) gold grades show continuity within the mineralized structures and can be expected over considerable distances. Metallurgical recovery has been demonstrated to approximate 95% with conventional treatment options. “The great amount of work accomplished over the past 16 months has dramatically furthered our understanding of the robust gold mineralizing system at the greater 3 Aces Project and has set us up for the next step of building a resource with economic potential. We are looking forward to promising and exciting advancements with the 2018 program under Rex’s geological leadership,” added Sheriff.
The initial focus of the 2018 exploration program will be to drill wide-spaced diamond core holes into the major shear zones and folds associated with the postulated anticline. This work will begin in the Central Core Area and move along strike and down dip following already identified gold-bearing structures such as the upper and lower shear zones in the Hearts-Clubs corridor. Similar core drilling will also begin in the adjacent Sprogge area some 6 to 8 km to the southeast where work by previous operators has contributed further evidence supporting Golden Predator’s geological model. The program will be designed to establish the extent of the mineralization in the Central Core Area, delineate the mineralization at Sprogge and ultimately, attempt to connect the two areas of mineralization.
Rex Brommecker, Director of Exploration, P. Geo
Mr. Brommecker brings 25+ years of expertise having led international exploration groups, multiple projects, budgets and exploration teams that have made world class discoveries. Mr. Brommecker previously served as Senior Vice President, Greenfields Exploration from 2013 to 2017 and as Chief Geologist, Global Greenfields Exploration for AngloGold Asanti Ltd in 2012. Prior to this he served in Regional Chief Geologist, Exploration roles for Barrick Gold Corporation from 2007 to 2011. He is highly skilled in structural and 3D analysis of ore deposits and has also been responsible for performance management, establishing key metrics to measure exploration success and full oversight of exploration programs.
Some of Mr. Brommecker’s achievements include:
- Management of a global exploration team of up to 400 employees and budgets up to $100 million;
- A team leadership role in the discovery of the high-grade zone at Nuevo Chaquiro in Colombia;
- A team leadership role in the discovery of the Meliadine gold deposit in Nunavut;
- Advisor to teams that have discovered significant copper and gold occurrences in Papua New Guinea and Chile;
- Leading teams that have added resources in brownfields environments in Guinea and Australia; and
- Part of a team that doubled resources at Reko Diq in Pakistan.
Mr. Brommecker earned his BSc (Earth Sciences) from the University of Waterloo and his MSc (Geology) from Queen’s University. He is a member of the Association of Professional Geoscientists of Ontario and a Fellow and Trustee of the Society of Economic Geologists.
Rex Brommecker is the Managing Director of the consulting firm Ore Genesis Pty Ltd. He has been engaged through his company to provide the services of Director of Exploration to Golden Predator on an exclusive basis in the Yukon, BC, Alaska and Nevada.
3 Aces Project, Yukon
The 3 Aces Project is an orogenic gold project consisting of 1,734 claims covering 357 km² (35,700 hectares) in southeast Yukon. At the 3 Aces Project, the exploration has been focused on the 13.5 km2 Central Core Area, a broad gold-in-soil anomaly, where numerous orogenic gold-bearing quartz veins have been discovered through geological mapping and sampling, trenching, roadwork and drilling. These orogenic-type veins are found across many well-mineralized zones and over 762 m (2,500 feet) of elevation change within the Central Core area which represents ~3% of the property.
The Project is located along the all-season Nahanni Range Road that was recently announced as being a part of the $360 million Federally and Yukon funded, Yukon Resource Gateway Project. Golden Predator operates under an Exploration Agreement with the Ross River Dena Council and the Liard First Nation, and a Class 4 Mining Land Use Permit issued by the Yukon Government.
The technical content of this news release has been reviewed and approved by Mark Shutty, CPG, a Qualified Person as defined by National Instrument 43-101 and an employee of the Company.
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 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 that the private placement will complete as described herein, that the Project will advance through permitting and feasibility. 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.