Golden Predator Commences 7,000 m Drilling Program at Gold Dome Project, Yukon
TSX: GPD
VANCOUVER, July 8 /PRNewswire-FirstCall/ - Golden Predator Corp. (TSX:GPD) (the "Company") is pleased to announce that two rigs have commenced diamond drilling and reverse circulation drilling on its road-accessible Gold Dome project located within the Tintina Gold Belt 25 km northeast of Mayo. Phase 1 of the 2010 exploration program is planned to include five diamond and 25 RC holes for a total of 7,030 m, targeting extensions of known mineralization and gold-in-soil geochemical anomalies. The program will also test a new structural model for the project area.
Golden Predator's Gold Dome property comprises of 815 contiguous claims covering approximately 170 km(2). The property hosts one of the largest gold-arsenic-bismuth soil anomalies in Yukon, within Proterozoic Hyland group metasedimentary rocks intruded by Cretaceous-age intermediate-composition Tombstone-suite plutons. Favourable geology within the extensive land holding, evidenced by soil geochemical data and geophysical data, as well as proximity to historic placer operations in Highet and Sabbath Creeks without known sources, substantiates the potential for extending the known gold mineralization within the property.
The Company's 2010 exploration program at Gold Dome is designed to test the following targets and models at the Tom, Hawthorne Ridge, Harvey Ridge and Aorta zones:
- Eight holes at Tom are planned to test the down-dip and along-strike
extensions of high-grade skarn-hosted and low-grade vein-hosted gold
mineralization intersected during Golden Predator's 2009 diamond
drilling program, and which returned best values of 25.40 m of 11.12
gpt Au from hole GD09-007(1) ;
- Twelve holes are planned at Hawthorne Ridge to test northeast-trending
soil anomalies, as well as intersections of northeast and east-west
trending lineations that are believed to control gold anomalism and
known mineralization;
- Four holes are planned at Harvey Ridge to test a string of northeast-
trending gold-arsenic soil anomalies and an east-west-trending sheeted
vein complex; and
- Six holes are planned to test the under-explored Aorta gold-in-soil
anomaly, the centre of which is undrilled.
The Company is utilizing oriented NQ2 diamond core to determine the orientation and attitude of mineralization and assist in the structural interpretation of the property as an aid to further targeting, in combination with reverse circulation drilling to target previously untested soil anomalies and extensions of known mineralization. In 2010 the Company has already completed a trench mapping and sampling program on the Toby prospect and a 500-hole soil sampling program testing for continuity of gold mineralization between the Harvey Ridge-Aorta and Heon zones. Analytical results of both these programs are pending and will be used to define additional targets for future drilling.
Golden Predator's 2010 exploration program at Gold Dome represents the most extensive exploration program ever undertaken on this under-explored property, and reflects the Company's ongoing commitment to establishing a significant presence as a Yukon explorer.
The Company has just completed 1,430 m in 6 diamond drill holes at its Brewery Creek property and 2,930 m in 27 reverse circulation drill holes at its Eureka property (see news releases dated June 7th and 10th). Results from these two projects are pending.
About Golden Predator Corp.
Golden Predator Corp.'s corporate mandate is to be the leading gold property explorer and developer 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 have commenced on the Company's Gold Dome, Brewery Creek and Eureka projects with plans to commence drilling at Clear Creek project in July 2010 and Antimony Mountain in August, 2010. Golden Predator benefits from its royalty stream, presently generating in excess of $1.0 MM annually. Golden Predator also continues to advance its significant US gold projects and is working to create Silver Predator Corp. 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.
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Notes:
(1) Reported in News Release- TSX-V:GPD, November 16, 2009
SOURCE Golden Predator Corp.
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