TSX: GPD
www.goldenpredator.com
VANCOUVER,
Feb. 23, 2012 /PRNewswire/ -
Golden Predator Corp. (TSX: GPD) (the "Company") is
pleased to announce results from the final 47 RC holes from its
2011 drill program at its Grew Creek Project, Yukon. Of these 47 holes, 19 were
extensional or in-fill drilling at the Carlos Zone, and 28 were
exploration holes in various locations across the expansive
property. Drilling at the Carlos Zone returned significant
mineralization in 12 of 19 holes including:
- GCRC-284 with 24 m of 3.24 g/t gold from a depth of 216
m;
- GCRC-325 with 76 m of 1.97 g/t gold from a depth of 24 m
including 6 m of 8.49 g/t gold and 20.0 g/t silver;
- GCRC-326 with 76 m of 2.22 g/t gold from a depth of 24 m
including 2 m of 15.55 g/t gold and 43.0 g/t silver;
- GCRC-327 with 78 m of 1.20 g/t gold from a depth of 26
m;
- GCRC-328 with 68 m of 5.96 g/t gold and 24.1 g/t silver from
a depth of 32 m including 4 m of 63.15 g/t gold and 344.0 g/t
silver; and
- GCRC-329 with 60 m of 1.86 g/t gold from a depth of 40 m
including 2 m of 22.0 g/t gold.
"The grade and continuity of the Carlos Zone
continues to exceed our expectations," said William M. Sheriff, Chairman & CEO. "With
new exploration permits in place we can follow-up on our promising
results at the Knoll Zone and explore other high priority targets
now accessible throughout the Grew Creek Project."
A complete table of results, location maps and
additional geological information can be found on the Company's
website at:
http://www.goldenpredator.com/documents/GPD-NR12-09-2012-02-23-Grew-Creek-Final-2011-Drill-Results-FINAL.pdf
The Grew Creek Project is located 32 km
southwest of Faro and 24 km
northwest of Ross River,
Yukon. The property's 134
km2 encompasses 666 quartz claims, extending along both
sides of the Robert Campbell Highway for approximately 27 km with
power lines traversing the Project area.
The Carlos Zone
The Carlos Zone at Grew Creek is an epithermal gold discovery in
Eocene volcanic rocks located along the Tintina Trench that bears
similarities to significant Nevada
deposits including Sleeper and Midas. The Company's 2010 drill
program defined important structural controls and orientations of
high-grade veining, and the 2011 drill program was intended to
further define these controls and the distribution of higher-grade
mineralization. 2011 results support the current
interpretation of structurally controlled epithermal gold
mineralization. This new data extends known mineralized trends down
dip, along both strike directions, and through areas where prior
drilling was sparse; the Carlos Zone remains open at depth but
appears to be cut off along strike.
District Reconnaissance Exploration
The Company also conducted a district-wide, first phase exploration
program with 28 RC holes across six targets. Of these, the
Knoll Zone returned the most encouraging results including:
- GCRC-298 with 12 m of 0.54 g/t gold from a depth of 68 m;
- GCRC-300 with 8 m of 0.30 g/t gold from a depth of 10 m
and 18 m of 0.30 g/t gold from a depth of 76 m;
- GCRC-302 with 48 m of 0.34 g/t gold from a depth of 48 m
The Knoll Zone
The Knoll Zone is characterized by outcropping silicified
epiclastic sediments with chalcedonic coliform quartz veining,
which likely represent the same sequence of epiclastic sediments
encountered in the weakly mineralized hangingwall at the Carlos
Zone. These results are interpreted as potentially being in
the hangingwall of another mineralized structural zone such as the
Carlos Zone. Additional drilling will be directed toward
discovery of higher grade mineralization along a major structure
lying adjacent to the anomalous mineralization. The Knoll
Zone lies 2.5 km southeast along strike from the Carlos Zone.
Sampling Methodology, Quality Control and
Assurance
Samples were fire assayed for gold by ALS Chemex in Vancouver and Reno. All assays are reported as drilled
intervals and are not to be interpreted as true widths. Refer to
the Company's news release dated May 26,
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.
About Golden Predator Corp.
Golden Predator Corp., Yukon's
Gold Company, is mandated to become a mid-tier gold producer.
Golden Predator's road-accessible advanced properties include its
flagship Brewery Creek Project at which the Company is moving
aggressively to a near term production decision, as well as its
Grew Creek and Clear Creek
Projects.
Golden Predator has the largest controlled land
position in the Yukon, with
exploration holdings in excess of 1,400,000 acres (over 5,700
km2), and is committed to strong relationships with
Yukon First Nations and communities. Golden Predator's management
and technical teams continue to lead aggressive exploration
programs in the underexplored regions of the Yukon, and are driven to bring value to
shareholders and leave a positive legacy.
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.