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Americas Bullion Agrees to Cash Settlement with MF Investment and Completes Sale of Royalties to Orion Royalty Company LLC
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(TSX:GPD) (the “Company”) is pleased to announce initial drill results
from Brewery Creek’s newly discovered Sleeman Zone, the second major
discovery on the Company’s flagship project this year. Results of particular significance include the following:
- 191.5 m of 1.46 g/t gold beginning at a depth of 4.5 m in core hole BC11-226 (drilled sub-parallel to mineralized dike);
- 40.3 m of 1.21 g/t gold beginning at a depth of 13.2 m in core hole BC11-229; and
- 24.0 m of 1.65 g/t gold from a depth of 62.5 m in core hole BC11-217.
A complete table of all holes including a more comprehensive geological discussion can be found on our website at:
http://www.goldenpredator.com/documents/GPDNR...anlong.pdf
All holes
reaching target depth encountered significant mineralized intercepts of
24 m or more. The Sleeman Zone, located 2.5 km southeast of the
previously announced Bohemian-Schooner Zone discovery, remains open in
all directions.
“We
are excited with the continued success at our expansive Brewery Creek
Project,” said William M. Sheriff, Chairman & CEO. “We have been
rewarded with two major discoveries at Brewery Creek, utilizing our
geophysical and geochemical data, and are looking forward to further
defining both the Sleeman discovery, which remains open in all
directions, and the growing Bohemian-Schooner Zone, as well as testing
the numerous additional targets across this large property holding.”
Expanded Brewery Creek Drill Program
In
response to the continuing success at Brewery Creek the Company has
determined to further expand its 2011 exploration budget: the Company
now plans to spend $7.5 MM during the current fiscal year, an increase
of $1.5 MM following the tripling of the annual budget announced May 31,
2011. Drilling continues at Brewery Creek with two core rigs and one RC
rig, and the Company is working to secure an additional rig in the
coming weeks. Drilling is now being planned on a year-round basis, and
the Company is also establishing a permanent all-weather camp at Brewery
Creek to augment existing facilities.
Sleeman Zone Geology
Mineralization
at the Sleeman Zone is hosted in altered intrusive rocks occurring as a
tabular zone dipping moderately to the south-southwest. To date, gold
mineralization has been drilled to a vertical depth of 150 m from
surface, extends horizontally well over 100 m, and is open in both
directions along strike and down dip.
The
geochemical signature of the gold bearing zone at Sleeman is distinctly
elevated in lead, zinc and silver. Sleeman averages over 700 ppm lead
1,200 ppm zinc and commonly contains over 15 g/t silver within the
mineralized intercepts with the select intercept in excess of 100 g/t
silver. Other mineralized areas of the Brewery Creek property average
less than 100 ppm lead and less than 500 ppm zinc with essentially no
silver.
Sampling Methodology, Quality Control and Assurance
Samples
were fire assayed by ALS Chemex in Vancouver. Refer to the Company’s
news release dated March 24, 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, PGeo, 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., a well-funded exploration and development company, has a
mandate to be the leading gold property explorer and developer in
Yukon, Canada. Golden Predator has a vast Yukon property position with
three advanced gold projects, six pipeline projects and exploration
landholdings comprising over 4,000 km2. Drilling continues at the
Company's flagship Brewery Creek project as well as at its Grew Creek
and Clear Creek Projects. In 2011, Golden Predator will work towards
completing initial resource estimates for Grew Creek and Clear Creek and
updating the existing resource estimate for Brewery Creek, in addition
to conducting initial drilling at the recently acquired Harlan project.
