Golden Predator continues to expand North Slope Zone at its Brewery Creek Project, Yukon
Vancouver, Canada— January 5, 2012: Golden Predator Corp. (TSX:GPD) (the “Company”) is pleased to announce further results of 19 Core and RC drill holes from the North Slope Zone at its flagship Brewery Creek Project. Highlights of the current release include:
BC11-329 with 16.0 m of 3.20 g/t gold from a depth of 41.0 m; BC11-333 with 5.4 m of 3.20 g/t gold from a depth of 26.6 m, as well as 23.50 m of 2.30 g/t gold from a depth of 49.0 m; and
RC11-2391 with 22.0 m of 1.23 g/t gold from a depth of 130.0 m.
A complete table of results and location map can be found on the Company’s website at: http://ww
w.goldenpredator.com/documents/GPD-NR12-01-Brewery-Creek-NS-Jan-05-2012-FINAL.pdf
North Slope Zone Geology The North Slope area lies approximately 1 km northwest of the Reserve-trend deposits which were historically mined at Brewery Creek. It is parallel and structurally similar to those deposits but occupies a different (lower) part of the stratigraphic section. Gold mineralization at North Slope is hosted in altered quartz monzonite sills and adjacent siltstones.
2011 Year End Brewery Creek Project Update The Company completed 209 core holes for 31,210 m and 135 RC holes for 24,243 m at Brewery Creek in 2011. Drilling has been concentrated on delineating the two 2011 discoveries at the Bohemian- Schooner and Sleeman Zones, with significant additional drilling on the North Slope and Classic Zones. Results are still pending for 124 core and RC holes. Resource modeling in support of an updated resource estimate is well underway.
The Brewery Creek Project is a past producing heap leach gold mining operation with a total of 278,484 oz Au produced from seven near-surface oxide deposits along the property's Reserve Trend from 1996 through 2002, when the mine (operated by Viceroy Resource Corporation) shut down due to low gold prices. The 187 km2 property is located 55 km due east of Dawson City, accessible by paved and gravel roads from the junction of the North Klondike and Dempster Highways. In May 2011 the Company staked an additional 204 quartz claims east of the historic Brewery Creek property, increasing the Project to a total of 997 quartz claims.
The Project is in receipt of all necessary permits, including the Class 3 Mining Land Use permit required to conduct additional exploration. 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, and the ninety-three mining leases covering mine facilities, pits, waste dumps and adjacent drill indicated deposits have expiry dates beginning in 2016. In addition, a Socio-Economic Accord with Tr'ondek Hwech'in First Nation with respect to the Brewery Creek Project is in place.
Sampling Methodology, Quality Control and Assurance
Samples were fire assayed for gold by ALS Chemex and ACME Laboratories in Vancouver. All assays are reported as drilled intervals and are not to be interpreted as true widths. Refer to the Company’s news release dated October 27, 2011 for a complete discussion of sampling methods, quality control and assurance.
The technical content of this news release has been reviewed and approved by Michael Maslowski, BSc, CPG, the Company's Chief Operating Officer and a Qualified Person as defined by National Instrument 43-101.
It's all happened before and it will all happen again. Might as well profit from it.
