Golden Predator Corp. (TSX: GPD) has announced final 2010 results from its Clear Creek project, including 3 additional diamond drill holes and 20 additional reverse circulation holes from the Contact, Saddle, Josephine and Bear Paw Zones.
Of particular significance are Contact Zone RC Hole CC10-22 with an intercept of 137.50 g/t Au over 1.52 m from a depth of 3.05 m and RC Hole CC10-20 with 0.719 g/t Au over 30.48 m from a depth of 38.1 m. RC Hole CC10-20 is collared and ended in mineralization with an average grade of 0.44 g/t over its entire 136 m length. Significant silver values have also been returned from the deeper drilling at the Bear Paw Zone, where diamond drill hole CC10-02 returned 635.60 g/t Ag between 224.37 m and 226.10 m. Highlights of the drill results are included in the table below.
Previously released results from the Company's 2010 work program at Clear Creek included 2.59 g/t Au over 25.91 m starting at 10.67 m depth from RC Hole CC10-27 in the Bear Paw Zone and 22.86 m of 1.24 g/t Au from a depth of 10.67 m from RC Hole CC10-25 in the Saddle Zone.
"We are extremely pleased and very excited by the discovery of a high-grade bonanza vein in the middle of the Contact Zone, complementing our previous released extensive lower grade intercepts," said William M. Sheriff, Chairman and CEO. "Our 2010 drill program has established significant mineralization in all of the identified zones on this large project, and positions Clear Creek as a leading project for Golden Predator in 2011."
The Company has now released complete results from its 2010 drill program on its Clear Creek project, located 65 km northwest of Mayo, Yukon. The project comprises approximately 60 km(2) and contains five identified target areas: the Bear Paw, Contact, Saddle, Josephine, and Rhosbegobel Zones. The Saddle Zone is approximately 2.6 km north of the Contact Zone which is in turn 5.0 km northeast from the Bear Paw Zone. The Josephine Zone lies between the Saddle and Contact Zones, and the Rhosbegobel Zone between the Contact and Bear Paw Zones. The full 2010 program consisted of 4 HQ diameter oriented core diamond drill holes totaling 1,054 m and 38 RC drill holes totaling 2,589 m. The Company has begun reviewing the extensive data generated this year, and will be integrating it into a comprehensive model to form a framework for the Company's intensified 2011 work program at Clear Creek.
RC Hole CC10-22 encountered a 10 cm thick mineralized quartz vein sub-parallel to the dip of the drill hole at a depth of 3.05 m. Subsequent to receipt of initial results a trench was excavated 2 m from the collar in order to expose the vein. A 10 cm wide channel sample collected from the trench across the width of the exposed vein assayed 265 g/t Au and 111 g/t Ag. This vein strikes in an east-west direction with a steep dip and is a single vein within the more important sheeted vein zone spatially associated with a mineralized and clay-altered silicic quartz porphyry dike in the heart of the Contact Zone. RC drill chips over this interval show abundant vein material, consistent with rocks exposed in the trench.
Anomalous gold values in soil and rock on the Clear Creek property are spatially associated with mid-Cretaceous aged Tombstone plutonic suite granitic stocks and the Bear Paw Breccia Zone. Previously identified mineralization apparently hosted by sheeted veins in and around the stocks and with hydrothermal breccias, appear temporally related to the intrusive rocks. The Company's 2010 work program at Clear Creek focused on further exploring the Bear Paw, Contact, Saddle and Josephine Zones. No work was planned or completed this year on the Rhosbegobel Zone, where Kennecott had previously identified a shallow near-surface gold mineralized area of approximately 40 million tonnes grading 300 ppb Au, with a higher grade core of 1.5-2.0 million tonnes grading between 0.75 and 1.25 g/t Au from an east-west trending zone 1,200 m long, 200 m wide and 65 m deep as outlined from 27 RC holes averaging only 73 m in depth (Coombes, 1995). The Clear Creek property is in an active placer mining area that has produced more than 129,000 oz Au (Allen et all, 1999). Drainages hosting these placers emanate from the known mineralized zones listed above.
These latest results reflect difficult RC drilling conditions as none of these holes were able to reach their targeted depths. Sheeted vein zones visible at the surface were targeted throughout the Josephine Zone; unfortunately all holes were terminated above their projected target depths. An 18 cm channel sample of one of the veins near RC Hole CC10-41 returned a value of 5.44 g/t Au. Depths ranged from 22.86m in hole CC10-42 to a maximum of 132.62m in hole CC10-20 with an average depth of only 69.19m. The targeted zone was not intercepted in many of these holes due to the restricted depth. The Company will be mobilizing much larger drill rigs during the 2011 season in order to more fully evaluate the project. Holes CC10-02, 03 and 04 are diamond drill holes and the remaining holes are RC drill holes.
Sampling Methodology, Quality Control and Assurance
The diamond drill holes were drilled by skid mounted drills utilizing HQ, NQ, and NTW core sizes (6.4 cm/2.5", 4.8 cm/1.87" and 5.6 cm/2.2", respectively). Core is cut or split and one half is sent to the lab for analysis and the other half retained on site.
The RC drill holes were drilled by track mounted drills that produce a 5" (12.7 cm) diameter drill hole. Samples were collected from 1/8th of the material from a 5 ft (1.5 m) interval utilizing a splitter incorporated on the cyclone.
Both the RC samples and core samples were sent to ALS Mineral's prep lab in Whitehorse and then forwarded to one of their ISO 9001 certified preparation facility in Terrace or Vancouver. The pulps were analyzed at ALS Mineral's ISO 9001 certified laboratory in Vancouver. Approximately 5% of the pulps are sent for secondary check assays at Stewart Group's Eco Tech laboratory in Kamloops, B.C. Blanks, commercial standards and duplicate samples were included in each batch. To determine Au levels at the ppb level detection limit of 5-10,000 ppb (5-1000 ppb at Stewart Group) 30 g samples are fire assayed then digested in aqua regia solution and analyzed by atomic absorption. At Eco Tech, values over 1,000 ppb are re-assayed by fire assay, digested with aqua regia and then re-analyzed by an atomic absorption instrument (detection limit 0.03 g/t). At ALS Minerals, values over 10 g/t Au are re-assayed by fire assay followed by a gravimetric finish (50 ppb lower detection limit). Additional check-analyses are carried out by the lab which did not receive the original sample.
Other elements, including silver, were analyzed by a 35 elements package (ME-ICP41) in which the sample is dissolved in an aqua regia acid solution and then analyzed by ICP-AES (Inductively Coupled Plasma - Atomic Emission Spectrometry). Ag values over 100 g/t are re-assayed by method Ag-OG46 which involves digestion in Hydrobromic, Nitric and Hydrochloric acids followed by analysis by ICP-AES. Ag values over 1,500 g/t are re-assayed by method Ag-GRA21, a 30 g fire assay with gravimetric finish (5 g/t lower detection limit).
Drilling Sampling Protocol / Chain of Custody/Data Verification
Golden Predator employs high standards of protocol with respect to the handling and chain of custody of its samples. All sampling is conducted under the supervision of the Company's project geologist and the chain of custody from the drill to the sample preparation and logging facility is continually monitored by the project geologist. Samples are shipped to the lab by qualified couriers or Company personnel under locked bags with independent identification lock numbers. Data verification of the analytical results includes a statistical analysis of the duplicates, standards and blanks that must pass certain set parameters for acceptance to insure accurate and verifiable results. All assays are reported as drilled intervals and are not to be interpreted as true widths, which are undetermined at this time.
Readers are cautioned that while the resource estimate presented above is considered to be reliable and relevant it does not use categories as defined in National Instrument 43-101. This resource estimate is based on prior data and reports obtained and prepared by previous operators, and the reader is cautioned that none of the calculations conform to National Instrument 43-101 requirements for reporting reserves and resources. The Company has not done the work necessary to verify the classification of the mineral resource estimate. The Company is not treating the mineral resource estimates as a National Instrument 43-101 defined resource verified by a qualified person. The historical estimates should not be relied upon. The properties will require considerable further evaluation, which the Company intends to carry out in due course.
The technical content of this news release has been reviewed and approved by Corwin (Cor) Coe, A.Sc.T., B.Sc., P.Geo., the Company's Vice-President, Exploration (Canada) and a Qualified Person as defined by National Instrument 43-101.
Source: Golden Predator Corp.