VANCOUVER, British Columbia, Jan. 10, 2018 (GLOBE NEWSWIRE) — Golden Predator Mining Corp. (TSX-V:GPY) (OTCQX:NTGSF) (the “Company” or “Golden Predator”) reports the results of 42 Reverse Circulation (RC) drill holes completed in 2017 at the 3 Aces Project in southeastern Yukon. Initial drilling is reported from the Diamonds Zone along with the Hearts/Clubs Corridor. All areas encountered encouraging results and will see continued drilling in 2018. The final 43 RC holes completed in 2017 will be reported separately.
Significant results include:
- Hole 3A17-287 intersected 2.29 m of 35.72 g/t gold from a depth of 5.33 m, including 0.76 m of 105.5 g/t gold (Lower Hearts);
- Hole 3A17-250 intersected 0.76 m of 10.15 g/t gold from a depth of 35.05 m (Queen of Clubs Vein); and,
- Hole 3A17-251 intersected 1.53 m of 5.86 g/t gold from a depth 47.24 m, and 3.05 m of 4.17 g/t gold from a depth of 153.92 m, including 0.76 m of 11.75 g/t gold (Diamonds Zone).
3 Aces Drill Results Overview
Gold mineralization ranging from anomalous to high grade was encountered in 30 of the 42 holes drilled across the Central Core, including the Hearts, Clubs and the Diamonds Zones. High-grade quartz veins continue to be encountered along with an increasing abundance of disseminated and stockwork occurrences. These two types of mineralization are integral to the Company’s conceptual geological model.
The Hearts-Club Corridor is presently defined as a 1.6 km structural zone with upper and lower northwest trending shear zones extending from the Ace of Hearts to the Ten of Clubs. The Hearts-Clubs Corridor drill program in 2017 was designed to test and establish continuity along shear zones hosting gold-in-quartz veins. A second lower parallel shear zone, within the Hearts-Clubs Corridor was also established and confirmed with visible gold along a 450 m segment. These moderately dipping shear zones host quartz veins with gold and arsenopyrite. Additional drilling will test the projected extension of the Corridor of mineralization for an additional 1.2 km along trend to the northwest in 2018.
Despite the difficult drilling conditions caused by the intense fracturing and shearing encountered in several areas, drilling has continued to confirm high-grade gold mineralization and near surface bulk tonnage type mineralization from the Diamonds Zone, the Clubs Zone and the lower Hearts Zone. Core drilling will be implemented across the 3 Aces Project in 2018 to better address the structural conditions inherent to the Hearts-Clubs Corridor while allowing the Company to expand its focus on deeper drill targets.
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“We are pleased to see mineralization continuing in all zones tested across the Central Core Area and encouraged by the structural intensity of the shear zone which displays continuity along the western and northern portions of the Clubs-Hearts Corridor,” said Janet Lee-Sheriff, Chief Executive Officer. “Structurally complex and intensely fractured rock are excellent hosts for gold mineralization and we look forward to drilling the Corridor with diamond core in 2018.”
Diamonds: Initial Drill Program
Initial drilling of the Diamonds Area, located 1.8 km north and over 400 m higher in elevation, from the Central Spades area, included 8 reconnaissance holes designed to test favorable stratigraphy and structure as indicated by surface mapping. Spread out over more than 700 m, 6 of 8 holes were completed to target depths ranging from 240 m to 350 m. Hole 3A17-251 encountered anomalous gold clustered throughout the hole with the best interval of 3.05 m of 4.17 g/t gold including 0.76 m of 11.75 g/t gold. Hole 3A17-262 intersected 5.33 m of 1.03 g/t gold along with several anomalous zones lower in the hole. 5 of the 6 holes (246, 251, 254, 262, 265) drilled to target depth intersected multiple intervals of >1.0 g/t gold as well as more extensive zones of anomalous gold. In addition to intersecting gold mineralization, important structural and stratigraphic information was gathered from the first drill program at the Diamonds Zone.
Hearts-Clubs Corridor: Lower Hearts
Drilling included 10 RC holes with mineralization encountered in 8 holes. All holes were stopped short of target depth due to intense fracturing and challenging RC drilling conditions encountered in the Heart/Clubs Corridor. Late season ice combined with extreme topography resulted in all holes being collared from existing roads with average depth of the sampled holes of 56.6 m. Drilling was situated along 400 m of strike and represents the westerly most drilling to date on the project.
Hole 3A17-287 returned several intervals greater than 1.0 g/t gold highlighted by 1.53 m of 53.0 g/t gold from a depth of 5.33 m which includes 0.76 m of 105.5 g/t gold. Hole 3A17-291 intersected 8.38 m of 0.41 g/t bottoming at 14.48 m in mineralization, hole 3A17-293 intersected 16.0 m of 0.41 g/t from a depth of 14.48 m, and hole 3A17-294 intersected 9.14 m of 0.57 g/t gold from a depth of 6.86 m. Initial drilling of the lower structural zone at the Hearts zone confirmed gold mineralization along the lower shear zone. Two holes were lost in the first 10 m with no sample returned.
Heart/Clubs Corridor: Clubs Zone
Fifteen RC drill holes were completed in an area 200 m by 300 m with 8 of these not reaching target depths due to intense fracturing, shearing and related gouge zones along the mineralized horizon in the Hearts/Clubs Corridor. 13 of the 15 sampled holes encountered anomalous gold.
Hole 3A17-267 intersected 6.09 m of 0.49 g/t gold from a depth of 21.34 m and a second lower zone of 10.67 m of 0.75 g/t gold highlighted by a 0.76 m interval of 7.49 g/t gold. Hole 3A17-269 intersected sporadic mineralization throughout the hole with 16.76 m of 0.34 g/t gold from 19.05 m and 2 separate 0.76 m intervals of 7.65 g/t and 4.73 g/t gold from 115.06 m and 143.26 m respectively. Similarly hole 3A17-282 intersected 9.91 m of 0.89 g/t gold at a depth of 31.24 m and hole 3A17-284 intersected 9.14 m of 1.06 g/t gold at a depth of 22.86 m.
Queen of Clubs Vein
The Queen of Clubs Vein is located 400 m northeast of the Hearts/Clubs Corridor with 6 holes drilled in 2017. Drill hole 3A17-250 has more than doubled the known strike of the Queen of Clubs vein by 34 m, to at least 65 m, having intersected 0.76 m of 10.15 g/t gold at a depth of 35.05 m. No further significant results were reported, and further analysis suggests that the target is open at depth but either pinches out or has been offset laterally along strike.
3 Aces Project, Yukon
The 3 Aces Project is an orogenic gold project consisting of 1,734 claims covering 357 km² (35,700 ha) in southeast Yukon. The Company has focused exploration on the 13.5 km2 Central Core Area, a broad gold-in-soil anomaly, where numerous orogenic gold-bearing quartz veins have been discovered. Exploration over the past 18 months has systematically advanced the project by establishing: (1) high gold grades can be reliably sampled, (2) gold mineralization is in predictable stratigraphic locations, and (3) gold grades have robust continuity within the recognized controlling features. Results have led to a geological model that predicts extensive lateral and vertical continuity of the 3 Aces mineral system. The Company is now developing a strategy to establish this continuity between the Central Core Area and the Sprogge property 6 to 8 kilometers to the south.
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 3 Aces Property is in the Selwyn Basin; a lenticular belt of sedimentary rocks that extends across the Yukon. The property is underlain by interbedded clastic and carbonate sedimentary rocks of the Hyland Group, the basal unit of the Selwyn Basin. Polyphase fold and fault systems overprint the stratigraphy, structurally preparing the rocks with pathways for the mineralizing fluids. Gold with minor pyrite and arsenopyrite are in late, brittle faults formed within an extensional zone between two regional dextral faults.
Mineralized hydrothermal fluids migrated through these faults during late phases of brittle faulting. Gold on the property is associated with extensive argillic, iron carbonate, and limonitic alteration zones that broadly overprint the stratigraphy and early structural fabrics.
The current exploration strategy on the 3 Aces Property is based on the metallogenic models developed for orogenic gold deposits. The primary characteristics of the 3 Aces Property that make the orogenic gold model an appropriate analogy for the property are: (1) mid- to upper-crustal level crack-seal style quartz veins, (2) high competency contrast between lithologies, (3) crustal-scale regional faults that provide pathways for deeply sourced fluids, and (4) a prolonged polyphase deformation history.
Sampling Methodology, Quality Control and Assurance
All analyses for the drill samples from the program were performed by ALS with sample preparation in BC, Kamloops, BC and assaying in North Vancouver, BC. Drill samples were analyzed using a 50 g fire assay with atomic absorption finish (Au-AA26). If the procedure returned a value of 2.0 g/t gold or greater it is re-run using a 2kg screen metallic gold method (Au-SCR24). Refer to the Company’s news release dated July 10th, 2017 for a complete discussion of sampling methods, quality control and assurance.
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.
Golden Predator Mining Corp.
Golden Predator Mining Corp. is a well-financed gold exploration company focused on its high-grade orogenic gold-in-quartz 3 Aces Project in Canada’s Yukon. The Company also holds 100% of the advanced Brewery Creek Project in Yukon, Canada. With proven management and an experienced technical team, the Company is well positioned for growth.
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.