Golden Predator Upgrades Access to 3 Aces Project, Ramps Up Exploration
ACCESS Newswire
VANCOUVER, BC / ACCESSWIRE / August 22, 2016 / Golden Predator Mining Corp. (GPY.V) (the "Company") is pleased to announce it has received all necessary permits under the Yukon Waters Act and the Yukon Quartz Mining Act permitting the construction, and operation of a clear span bridge across the Little Hyland River at the 3 Aces Project. The clear span bridge has been purchased and is in the community of Watson Lake, Yukon, assembled and ready for transport to the 3 Aces Project site for installation. Construction is expected to commence on August 26th, 2016.
The bridge, identified in the 2016 work plan as key element of the 3 Aces Project infrastructure, provides cost-effective, year-round access to the Aces of Spades Vein, Aces of Hearts Vein and the Jack of Spades Vein as well as the other 16 soil anomalies present across the 10 km2 central core area of the 225 km2 property. In addition to saving on helicopter-supported exploration costs of over $2,500/day, the bridge provides year-round access and the use of heavier equipment including reverse circulation drill rigs, service trucks, and bulk sampling equipment which are largely unavailable by helicopter support.
"I am extremely pleased at the collective team approach across the Yukon agencies and our staff in the permit review and approval process, which has been completed ahead of schedule. Most important, this would not have been possible without the assistance of the Kaska Nation, represented by the Ross River Dena Council and Liard First Nation. We could not have made these timelines without their on-going support," said Janet Lee-Sheriff, Chief Executive Officer.
In addition to the Liard First Nation and the Ross River Dena Council, Golden Predator also wishes to thanks the staff and leadership of the Yukon Government Department of Energy, Mines and Resource, the Yukon Environmental and Socio-Economic Assessment staff and Board and the Water Board staff and Board whose leadership and approach to timely decision making allowed the Company to exceed projected timelines.
3 Aces Project, Yukon
The 3 Aces property is a 225 km² property consisting of 1,118 contiguous quartz claims (23,000 hectares) located in southeast Yukon and includes the two highest grade surface outcrops discovered to date in the Yukon. The veins discovered to date are characterized by coarse nuggetty gold with a low sulphide content consistent with an orogenic vein model. The property is located along the all-season Nahanni Range Road which accesses the Cantung Mine located 40 kilometers to the north.
The 3 Aces property contains a number of quartz veins and vein zones that cut Cambrian aged limestone, shale, quartz grits and chert pebble conglomerates of the Hyland Group. Previous sampling and exploration by Golden Predator has outlined extensive gold-in-soil anomalies over ten square kilometers, including the five high grade gold in quartz veins that contain coarse visible gold. Exploration work in 2015 and 2016 to date, including metallurgical studies, Rotary Air Blast drilling, Reverse circulation drilling and bulk sampling, has focused on establishing the grade and continuity of the Ace of Spades vein where previous diamond drilling had intersected the vein but returned lower than expected grades. The work in 2015 and 2016 has confirmed the high grades of the vein by establishing a sampling protocol which is resulting in a better estimation of gold grades within the veins. This work, the sampling protocol and the Phase II program are designed to significantly advance the understanding and discoveries on the project in 2016 and 2017.
The 3 Aces property is located in the traditional territory of the Kaska Nation. In January 2013, Golden Predator signed an Exploration Agreement with the Kaska Nation, as represented by the Ross River Dena Council and the Liard First Nation, with respect to activities within their traditional territories.
The technical content of this news release has been reviewed and approved by Mike Burke, P. Geo, a Qualified Person as defined by National Instrument 43-101 and Chief Geologist for the Company.
Golden Predator Mining Corp.
Golden Predator Mining Corp., a Canadian gold mineral exploration company, is focused on advancing its high grade 3 Aces Project and the Brewery Creek project, a past producing heap leach gold operation in Canada's Yukon.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This press release contains 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 that the private placement will complete as described herein, that the Project will advance through permitting and feasibility. 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, the Company assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.
