Golden Predator Commences 3,500 m Drill Program at Eureka Project, Yukon Territory
TSX: GPD
VANCOUVER, June 10 /PRNewswire-FirstCall/ - Golden Predator Corp. (TSX: GPD) (the "Company") announces that drilling has commenced on its road-accessible Eureka Project, located approximately 49 km northeast from the White Gold discovery of Underworld Resources Ltd. (TSX-V: UW). A 3,500 m drill program has been planned in up to 54 reverse circulation drill holes targeting significant trench and soil geochemical anomalies.
Golden Predator's Eureka project includes over 300 contiguous quartz mining claims located within the Dawson Range lying 90 km southeast of Dawson City. The Eureka and Black Hills Creeks, which drain the Eureka Project, have been active placer mining areas since the Klondike Gold Rush. Reported gold production from these Creeks from 1978 to 2005 was 60,195 and 92,476 oz Au, respectively. Access to the property is via the Hunker Creek -South Klondike road system.
Previous explorers identified three showings (Allen, Wealth, and Childs) exhibiting mineralization occurring in a series of subparallel NS-NNW-trending breccia zones composed of quartz, pyrite, arsenopyrite, and Fe-Oxides (Limonite and goethite). The breccias zones remain open in both directions along trend. In 2006, Strategic Metals Ltd. (TSX-V: SMD) drilled ten RC holes on the Wealth showing and returned best results of 0.592 gpt Au over 18.3 m in hole PDH-ER-05, 0.30 gpt Au over 15.25 m in hole PDH-ER-03, 0.48 gpt Au over 3.05 m in hole PDH-ER-04, 0.32 gpt Au over 9.15 m in hole PDH-ER-06, and 0.42 gpt Au over 3.05 m in hole PDH-ER-02. Subsequent trenching and soil geochemical analyses, detailed below, have identified high-priority drill targets for the current drill program.
Golden Predator's initial 2010 RC program at Eureka is designed to test the following targets:
- moderate to strong gold-in-soil geochemical values which varies from
up to 672 ppb Au from a 6 km long by up to 2 km wide anomaly;
- down dip extensions of mineralized drill-intercepts identified by
previous explorers at the Wealth showing, and
- trenching results previously reported by other companies at the
Allen, Wealth, and Childs prospects including 2009 trench results at
the Wealth showing reporting:
-------------------------------------------------------------------------
Trench Total Length From-To Interval Au Grade
(m) (m) (m) (gpt)
-------------------------------------------------------------------------
TR-09-01 256.00 24.10-42.00 17.90 0.97
-------------------------------------------------------------------------
27.60-30.60 3.00 2.46
-------------------------------------------------------------------------
55.50-72.10 16.60 0.45
-------------------------------------------------------------------------
TR-09-03 289.00 269.00-277.50 8.50 0.59
-------------------------------------------------------------------------
269.00-272.00 3.00 1.05
-------------------------------------------------------------------------
TR-09-08 175.00 103.00-109.80 6.80 0.83
-------------------------------------------------------------------------
105.80-109.80 4.00 1.33
-------------------------------------------------------------------------
The Company has an option to earn a 100% interest in the Eureka Project subject to a 2% NSR, of which 1% can be bought back for $500,000.
The technical content of this news release has been reviewed and approved by Corwin (Cor) Coe, A.Sc.T., B.Sc., P.Geo., the Company's Vice-President, Exploration (Canada) and a Qualified Person as defined by National Instrument 43-101.
About Golden Predator Corp.
Golden Predator Corp.'s corporate mandate is to establish a self-funded gold company focused on exploring for and developing world class gold opportunities in Yukon, Canada. The Company has an extensive Yukon property position with an industry leading five advanced exploration gold projects comprising over 600 km(2). Drill programs are planned to commence during June and July 2010 on the Company's Brewery Creek, Gold Dome, Eureka, Clear Creek and Antimony Mountain projects.
Golden Predator intends, through strategic use of planned modular mills at its Taylor and Humboldt mill sites in Nevada, to become a gold producer capable of internally funding its Yukon exploration program by 2012. In addition, Golden Predator benefits from its royalty stream, presently generating in excess of $1.0 MM annually, and is working to create Silver Predator to monetize its substantial Nevada-based silver assets.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This press release contains projections and 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 involving a number of risks and uncertainties and are not guarantees of future performance. There are numerous risks and uncertainties that could cause actual results and Golden Predator's plans and objectives to differ materially from those expressed in the forward-looking information. 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, Golden Predator assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.
SOURCE Golden Predator Corp.
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article