Golden Predator Consolidates 3 Aces District; Acquires100% Ownership of Reef Project
Vancouver, BC, March 27, 2019: Golden Predator Mining Corp. (TSX.V:GPY, OTCQX:NTGSF) (the “Company”is pleased to announce the Company has agreed to an amendment accelerating its Option to Purchase 100% of the Reef Project from Precipitate Gold Corp consolidating 100% ownership of the 3 Aces District. The Reef Project lies immediately north of the Company’s 3 Aces Project located in southeast Yukon and has been part of the overall 3 Aces Project since the original option agreement was signed in 2017 (see NR 17-04 February 13, 2017). The purchase agreement provides the Company a savings of$450,000 in cash and approximately $400,000 in the Company’s shares and warrants resulting from amendments to the original agreement.
Although most of the Company’s work to date has been concentrated on its Central Core Area, district-wide reconnaissance has determined that the geology and style of mineralization underlying the Reef property are remarkably similar to what occurs within the Central Core Area.
“With this purchase of 100%of the Reef Project, the last piece of the puzzle, at the consolidated 3 Aces Project, we have a great savings to the company with reduced dilution for shareholders. We are also working towards our restart of the 2019 season at the company owned bulk sample processing plant and we look forward to our internally funded 2019explorationand development season,” said Janet Lee-Sheriff, Chief Executive Officer.
“After 2½ years of extensive exploration and discovery on the Central Core Areawe have developed, and successfully tested, a geologic model for gold deposition at the 3 Aces Project. District scale reconnaissance along the over 30km strike length of the project, through two field seasons, suggests the Reef project has lithological, structural, and geochemical characteristics comparable to the Central Core on our 3 Aces Project,” said Jeff Cary, 3 Aces Project Manager.
Read more at: http://www.goldenpredator.com/_resources/news/nr_20190327.pdf