Golden Predator reports resource estimate for Brewery Creek with 580.000 ounces of gold in the displayed and 345.000 ounces in the derived category
03.05.2012 Vancouver, Canada -: Golden Predator Corp. (TSX: GPD) (the "Company") is pleased to announce that it has prepared its resource estimate for the Company's Brewery Creek Project in Yukon, Canada. The indicated resources are estimated to be 20,4 million tonnes 0,89 g / t gold, while the inferred resources are calculated to comprise 13,0 million tonnes 0,83 g / t gold. The estimated resources include approximately 0,20 ounces of gold that can be classified as displayed using 0,70 g / t gold for oxide material and 581.000 g / t gold for sulfide material, and 345.000 ounces of gold in the derived category, using a cut-off grade.
Mineral Resource Estimates for the Company's Brewery Creek Project have been prepared by EBA, a Tetra Tech Company, using data from the drilling and sampling programs along with third-party verified historical sampling and drilling data from previous operators including Loki Gold, Viceroy and Alexco Resource Corp. were carried out. A total of 54.822 samples from 1.244 drilling with a total length of 106.650 meters (34.929 samples from 957 RC holes totaling 67.689 meters in length and 19.983 samples from 287 core holes totaling 38.981 meters) were grouped into 2 meter long sections and into six separate sections Gemcom GEMS subblock models interpolated. Traditional kriging was used to interpolate the gold grades at the Big Rock, Bohemian-Schooner, Fosters and North Slope deposits, while the Classic's Interpolation of Resources used the ID3 (inverse distance cubed) method. The oxide resources were delineated by partial or full blocks that are located above a redox boundary supplied by the Company and based on actual well logging.
Resource estimates for alternative cutoff grades
Geology of the project
Brewery Creek's epithermal gold mineralization is hosted in Cretaceous quartz monzonite ore deposits and also in Paleozoic siliciclastic sedimentary layers of the lower rock plate. The pervasive and locally silicified deposits are intersected by En Echelon quartz veins and wharves. Areas with elevated gold grades are directly related to zones of concentrated quartz veining while the material occurs at lower levels than dispersions in the altered and heavily limonite interstices. The trace elements associated with gold mineralization include As, Sb, and Hg. The non-oxidized portions of the deposits commonly contain abundant amounts of pyrite and stibnite. The resources come from six zones, most of which are all open for extension in one or more lateral and deep directions. The continuing exploration should serve to increase known resources and delineate new resources within the project area.
Project Overview
The Brewery Creek property was operated by Viceroy Gold from 1996 to 2002 as the open pit mine where the raw material was delivered to the heap leach plate. The historical gold recovery rate from the heap leach operation is estimated at about 60%. Historical reports suggest that heap leaching treated a raw material mix, called preg-robbing material, which ultimately reduced recovery rates. The Company is currently conducting a metallurgical characterization program to more accurately determine the gold mining profiles and properties of the preg-robbing material from the mineralized areas. The program will include large diameter diamond drill holes to be drilled in summer 2012 for use in the column leaching tests on mineralized and metallurgical rock types. The data suggest that the preg-robbing material was primarily confined to the sedimentary rocks that can be optically identified and selected from the material that goes to a treatment plant.
The mineral resource estimate for Brewery Creek has been prepared by EBA using the Gemcom GEMS modeling software to comply with the guidelines and regulations established by National Instrument 43-101 and the Canadian Institute of Mining and Metallurgy. James Barr (PGeo), an independent Qualified Person of the EBA consulting firm, and Bruce Otto (PGeo), Qualified Person and Chief Geologist of Golden Predator Corp., have reviewed and approved the contents of this news release. The Company will submit a technical report on the published resource estimates to SEDAR in no more than 45 days from the date of this release.
About Golden Predator Corp.
Golden Predator Corp., Yukon's Gold Company, is pursuing the goal of becoming a mid-tier gold producer. The concession areas operated by Golden Predator are at an advanced stage of development and accessible by road. Concession areas include the Brewery Creek flagship project, where the company is currently preparing intensively for a production decision in the near future, and the Grew Creek and Clear Creek projects.
Golden Predator owns the largest controlled estates in the Yukon, which includes exploration licenses totaling over 1.000.000 Acres, and seeks stable relationships with the First Nations and communities in the Yukon. Golden Predator's management and technical team continue to implement offensive exploration programs in under-explored areas of the Yukon, with the goal of generating value for its shareholders while leaving a positive legacy.
Additional information is available via:
Golden Predator Corp.
William M. Sheriff, Chairman & Chief Executive Officer
+ 1 604 648 GOLD (4653)
ppgad@pucrs.br
www.goldenpredator.com
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained in this press release. This press release contains forward-looking and forward-looking information that is subject to a number of risks and uncertainties with respect to future events. Such forward-looking information may include, without limitation, statements based on current expectations and involve a number of risks and uncertainties. They are therefore no guarantee for future benefits. There are many risks and uncertainties that could cause Golden Predator's actual results and plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from those expressed in such information. This and all other written and oral forward-looking information is based on management's estimates and opinions at the time of its publication and is expressly limited in its entirety by this disclosure. Golden Predator is under no obligation to update any forward-looking information if management's circumstances or estimates or opinions change, except as required by applicable laws.
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