[Marinir] {Disarmed} GOM 7 Cents - "Now Compared On a Conceptual Basis with Kinross' Fort Knox"
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Thu Nov 17 14:24:02 CET 2011
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GOM 7 Cents - "Now Compared On a Conceptual Basis with Kinross' Fort
Knox and ITH's Livengood 16-Million-Ounce Deposits in Alaska"
Golden Dawn Minerals Inc. (TSX-V: GOM
http://www.stockwatch.com/Quote/Detail.aspx?action=go&symbol=GOM®ion=C&lookup=symbol&snapshot=default
) is pleased to announce a continued expansion of the Deadwood
gold-copper deposit in the Greenwood Mining District, British Columbia.
The zone of mineralization is open in all directions and now extends
1,000 meters (m) on strike, 250 m in width, and 250 m in depth. Based
upon the results of the first portion of the phase 2 drilling, the
Company anticipates that the existing inferred resource will most
probably be significantly expanded.
In addition to expansion of the Deadwood target zone mentioned above,
the most recently completed core holes 11WR19 through 11WR23, which have
intersected similar style mineralization but for which only partial
results have been received, expand the exploration target zone
substantially to the northeast and to the north. Hole 19 expands
mineralization 280 m to the northeast, while the cluster of holes 20 to
23 lie approximately 1000 m to the north. The target zone has now
expanded sufficiently in scale and may be compared, on a conceptual
basis, to other similar low grade bulk tonnage deposits such as the Fort
Knox (Kinross) and Livengood (International Tower Hill) deposits in
Alaska.
Continuing robust results are presented here from seven holes drilled
into the Deadwood low grade bulk tonnage gold-copper deposit in the
continuing phase 2 drill program on the Wild Rose -Tam O'Shanter
property. Holes 11WR13 to 11WR18 and 11WR24 were drilled on the Wild
Rose segment of the property, targeting the depth and strike extent of
the multiple lodes within the Deadwood low grade bulk tonnage deposit
(Table 1). On July 13th, 2011, the Company announced a National
Instrument 43-101 maiden Inferred Mineral Resource* for the Deadwood
Gold Zone of 19.4 million tonnes at an average grade of 0.45 grams per
tonne (g/t) gold (Au), yielding a total of 279,300 troy ounces of Au
utilizing a 0.3 g/t lower cutoff grade.
Current drilling, together with historic drilling results, has now
confirmed the presence of a significant widespread alteration zone (the
Deadwood Gold Zone) comprising low-grade gold-copper (Au-Cu)
mineralization along a strike length of approximately 1,000 m.
Drillholes 11WR24 and 11WR18 have extended the zone along strike to the
northwest and southeast and have demonstrated that the zone is open
along strike. The Deadwood Gold Zone has an apparent horizontal width of
up to 250 m and has been tested to a vertical depth of approximately 250
m below surface. The Deadwood Gold Zone remains open in all directions.
*Inferred Mineral Resources are not Mineral Reserves. Inferred Mineral
Resources do not have demonstrated economic viability, and may never be
converted into Reserves.
TABLE 1
Summary assay results for drill holes 11WR13 to 10WR18 and 11WR24
Drill Hole Zone From
(m) To
(m) Interval
(m) Au
(g/t) Ag
(g/t) Cu
% Pb
% Zn
%
11WR13 Deadwood1 259.7 316.2 56.5 0.32 - 0.03 - -
11WR13 includes 263.5 303.5 40.5 0.38 - 0.02 - -
11WR13 Deadwood2 131.5 233.57 92.07 0.1 - 0.01 - -
11WR13 includes 141.5 170 46.5 0.15 - 0.01 - -
11WR13 Deadwood4 36.5 44 7.5 1.4 - - - -
11WR13 includes 42.5 44 1.5 6.47 - - - -
11WR14 Deadwood 84.5 344 157 0.21 - 0.02 - -
11WR14 Deadwood1 270.5 296 25.5 0.15 - 0.03 - -
11WR14 Deadwood2 195.5 211.6 18 0.12 - 0.01 - -
11WR14 Deadwood4 84.5 98 13.5 0.11 - 0.02 - -
11WR15 Deadwood 244 401 162.33 0.19 - 0.02 - -
11WR15 Deadwood1 356 401 45 0.44 - 0.04 - -
11WR15 includes 356 383.2 27.2 0.62 - 0.03 - -
11WR15 Deadwood2 244 269 25 0.21 - 0.03 - -
11WR15 Includes 257 263 6 0.62 - 0.04 - -
11WR15 Deadwood4 15.3 23 7.7 1.51 - 0.03 - -
11WR15 includes 15.3 17 1.7 6.62 1.5 0.07 - -
11WR16 Deadwood 132.5 252.5 120 0.29 2.95 0.02 0.06 0.2
11WR16 Deadwood1 1 193 252.5 59.5 0.25 2.75 0.02 0.03 0.1
11WR16 includes 225.5 252.5 27 0.3 3.38 0.04 0.04 0.14
11WR16 includes 246.5 252.5 6 0.62 4.55 0.01 0.11 0.33
11WR16 Deadwood2 152 182 30 0.57 3.74 0.02 0.09 0.31
11WR16 includes 152 170 18 0.72 4.54 0.03 0.11 0.39
11WR16 Deadwood4 32 83 51 0.1 - 0.02 - -
11WR16 includes 32 42.5 10.5 0.2 - 0.01 - -
11WR17 Deadwood 3 219.5 216.5 0.11 0.98 0.01 0.01 0.03
11WR17 (uncut)** 216.5 (0.24)** 0.98 0.01 0.01 0.03
11WR17 Deadwood1 179 219.5 40.5 0.17 1.51 0.02 0.01 0.03
11WR17 Deadwood4 3 38 35 0.3 1.48 0.01 0.03 0.1
11WR17 (uncut)** 35 (1.13)** 1.48 0.01 0.03 0.1
11WR17 Includes 36.5 38 1.5 24.37 3.1 - 0.02 0.08
11WR18 Deadwood1 110.15 175.65 65.5 0.2 - 0.02 - -
11WR18 includes 149 165.5 16.5 0.35 - 0.02 - -
11WR18 includes 161 1165.5 4.5 0.9 - 0.03 - -
11WR18 Deadwood2 14 84.5 70.5 0.28 1.53 0.01 0.05 0.14
11WR18 includes 15.5 39.5 24 0.66 1.84 0.02 0.05 0.15
11WR18 includes 14 26 12 1.01 1.33 0.01 0.01 0.05
11WR24 Deadwood 137.25 378.5 241.25 0.18 - 0.04 - -
11WR24 Deadwood1 325 372.5 47.5 0.51 - 0.09 - -
11WR24 Deadwood2 246.5 277.39 30.89 0.16 - 0.05 - -
11WR24 Deadwood3 213.5 215 16.5 0.26 - 0.03 - -
*Based upon the 2011 statistical analysis, a 5 g/t upper cut has been
applied to individual high grade assays.
All seven holes drilled during September and October of 2011,
encountered widespread low grade gold mineralization with multiple
higher grade zones contained within the low grade zones, with almost
entire holes displaying anomalous gold mineralization. Examples include:
0.19 g/t Au over 162.33 m (11WR15); 0.29 g/t Au over 120.0 m (11WR16);
and 0.18 g/t over 241.25 m (11WR24); see Table 1.
Multiple higher grade lodes occur within the main Deadwood Gold Zone and
are consistently present in all holes. These include: 0.62 g/t Au over
27.2 m (Deadwood 1 in 11WR15); 0.57 g/t Au over 30 m (Deadwood 2 in
11WR16); 0.66 g/t Au over 24.0 m (Deadwood 2 in 11WR18); and 0.51 g/t Au
over 47.5 m (Deadwood 1 in 11WR24); see Table 1.
Based upon the results of the first portion of the phase 2 drilling, the
Company anticipates that the existing Inferred Resource will most
probably be significantly expanded. Further drilling, designed to extend
the Deadwood Gold Zone toward the northwest, is planned for the
adjoining Tam O'Shanter segment of the property. This will commence as
soon as the appropriate land use permits are received. A revised
resource statement will be completed when the 2nd portion of the Phase 2
Deadwood Gold Zone drilling is completed and all results are received.
GEOLOGICAL INTERPRETATION - DEADWOOD GOLD ZONE
Drilling during 2010 - 2011 indicates that the Deadwood Gold Zone is
hosted in a remarkably consistent upper stratigraphic package with
quartz-veined, brecciated and hornfelsed Paleozoic sediments and
predominantly mafic volcanic rocks with minor dioritic intrusions
overlying a lower package of thinly bedded siltstones, sandstones and
minor conglomerates. Gold mineralization occurs in all lithologies and
appears to be contact or structure controlled. The upper portion of the
stratigraphy exhibits moderate to intense silicification and consistent
disseminated sulphide mineralization, which is associated with either
biotite or sericite (potassic) alteration that, in turn, yields
remarkably consistent low-grade gold mineralization. Several of the
holes display alteration that crosses over into the lower sedimentary
package and is associated with gold mineralization that is part of the
Deadwood Gold Zone.
As indicated in the previous press releases, the Au-Cu mineralization at
the Deadwood Gold Zone is usually associated with anomalous but fairly
low concentrations of arsenic, antimony and other epithermal-type
indicator elements. The lack of a consistent epithermal geochemical
signature and the presence of a consistent Au-Cu relationship are
strongly suggestive of a classic porphyry Au-Cu model for this
mineralization. The relatively minor amount of intrusive rocks
intersected by the drilling thus far, and the apparent relation between
mineralization and stratigraphy, are indicative of a distal zonation.
Drillholes 11WR16 to 11WR18 were all drilled to extend the Deadwood low
grade bulk tonnage mineralization to the southeast towards the Wild Rose
vein area. All three holes successfully intersected Deadwood style gold
mineralization, thus extending the known low grade bulk tonnage
mineralization more than 200 m to the southeast of the main zone. In
addition, a number of the Deadwood lodes in these three holes displayed
highly anomalous concentrations of silver, zinc and lead together with
anomalous arsenic, cadmium, tungsten and occasionally anomalous antimony
and thallium. This may suggest a more proximal source for the alteration
and mineralization toward the southeast.
Split drill core samples were shipped from the site by courier for
sample preparation and analysis by Inspectorate Exploration and Mining
Services Inc., of Richmond, BC, an ISO 9001:2008 certified laboratory.
Assay procedures consisted of standard one assay ton fire assay for
gold, with atomic adsorption (AA) finish. Other elements were analyzed
by 30 element ICP spectrophotometry following aqua regia digestion.
Assay blanks, standards and duplicate checks were performed as part of
the quality assurance program. Drilling of an additional 10 holes in and
around the Tam O'Shanter property is anticipated to begin within a few
days, within the Phase 2 Budget for the program.
The information in this release have been reviewed and verified by Mike
Dufresne, M.Sc., P.Geol., a Qualified Person. The program is being
supervised by Mike Dufresne of APEX Geoscience Ltd.
On behalf of the Board of Directors:
GOLDEN DAWN MINERALS INC.
"Wolf Wiese"
Wolf Wiese
Chief Executive Officer
For Further Information, please contact:
Mike Poulin
Investor Relations
604-630-6793
mike at goldendawnminerals.com
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