VANCOUVER, British Columbia, Dec. 14, 2017 (GLOBE NEWSWIRE) — Golden Predator Mining Corp. (TSX.V:GPY) (OTCQX:NTGSF) (the “Company” or “Golden Predator”) is pleased to report results for 36 reverse circulation drill holes at the 3 Aces Project in southeast Yukon. Step-out drilling has extended the southern extent of the Spades zone by over 200 m and confirmed high-grade gold mineralization and near surface bulk tonnage type mineralization. Drilling on the northern extent of the Spades zone, approximately 1 km northwest of the step-out drilling, has encountered significant near surface bulk type mineralization.
Significant results include:
- Hole 3A17-175 intersected 1.53 m of 36.33 g/t gold from a depth of 32.00 m;
- Hole 3A17-266 intersected 14.48 m of 1.06 g/t gold from a depth 16.76 m, including 0.76 m of 8.0 g/t gold and 6.10 m of 3.43 g/t gold from a depth of 61.72m, including 1.52m of 11.31 g/t gold;
- Hole 3A17-275 intersected 14.47 m of 3.40 g/t gold from a depth of 40.39 m, including 1.53 m of 26.72 g/t gold; and
- Hole 3A17-144 intersected 47.25 m of 1.11 g/t gold from a depth of 5.33 m, including 0.76 m of 11.45 g/t gold.
To view 3 Aces location and drilling maps please visit:
Drill Results Overview
Significant gold mineralization was encountered in 25 of the 36 holes along one kilometer of Spades Zone strike. High-grade quartz veins continue to be encountered along with an increasing abundance of disseminated and stockwork occurrences. These two types of mineralization are now integral to the Company’s conceptual geological model.
Gold grades in the northern and north-central portions of the Spades Zone are thought to represent leakage into the hanging wall from a major northwest trending shear zone that controls mineralization in the Spades, Clubs and Hearts Zones. This mineralization is in the form of higher angle, higher grade gold in quartz veins typical of the central Spades Zone, as well as potentially bulk minable grades. Based on the evolving geological model, the holes along the northern and north-central Spades trend should be extended 50 to 150 m to reach and properly test this identified northwest trending shear zone target which appears to underlie most of the Spades Zone. This interpretation opens up an important new target with significant resource potential. The through-going northwest trending shear zone accounting for the Spades Zone is thought to be one of several such structures controlling gold deposition at 3 Aces.
“This drilling has opened our eyes to the very significant potential for disseminated mineralization in tandem with high grade veins in specific, repeating structures. With these new results from the southern end of the Spades which contain significant gold, you can see that we have successfully increased the known mineralization footprint by over 200 m along strike to the south. The total strike of the Spades Zone is now approximately one kilometer,” said Janet Lee-Sheriff, Chief Executive Officer. “The newly discovered southern area is open in all directions and will see continued drilling in 2018.”
3 Aces Project – Significant Drill Results Table – Spades Zone
|Northern Spades (Seven)|
|Southern Spades (Nine)|
|North-Central Spades (Queen)|
1Sample Type ‘RC’ is whole 3.5″ (88.9mm) or 5.5″ (139.7mm) reverse circulation cuttings.
2All intervals are reported as drilled thicknesses; true thicknesses are estimated to be 50-100% of drilled thicknesses.
3Reported Au assay grade sourced from ALS using Au-AA26 method (* indicates finalized Au-SCR24B results).
- Drill holes 3A17-148, 150, 152, 155, 162, 163, 176, 181, 186, 188 and 277 encountered no significant mineralization.
- Drill holes 3A17-174, 179, 180, 184, 187, 189 and 271 each had 1 to 3 isolated intervals >1.00 g/t but < 2.00 g/t gold.
- Drill hole 3A17-145 encountered 1.53m of 1.65 g/t gold from a depth of 8.38m.
- Drill hole 3A17-154 encountered 5.33m of 0.67 g/t gold from a depth of 6.10m.
- Drill hole 3A17-164 encountered 3.05m of 0.59 g/t gold from a depth of 23.62m.
- Drill hole 3A17-178 encountered 5.34m of 0.91 g/t gold from a depth of 27.43m and bottomed in 1.13 g/t gold.
- Drill hole 3A17-183 encountered 2.28m of 1.15 g/t gold from a depth of 3.05m.
- Drill hole 3A17-185 encountered 1.52m of 2.11 g/t gold from a depth of 32.77m.
- Drill hole 3A17-255 encountered 1.52m of 1.47 g/t gold from a depth of 28.96m.
- Drill hole 3A17-264 encountered 12.19m of 0.47 g/t gold from a depth of 18.29m & 1.52m of 1.28 g/t from 56.39m.
- Drill hole 3A17-268 encountered 9.15m of 0.36 g/t gold from a depth of 96.77m.
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 Lima, Peru, Vientiane, Laos or 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 357km2 land package includes numerous mineralized areas, all located within and along favorable stratigraphic and structural zones that extend over 35 km along trend. The 2017 drill program focused on the year-round road and bridge accessible 13.5 km2 Central Core Area, host to numerous high-grade gold in quartz veins. 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.