Golden Dawn Reports Positive Initial Drill Results From the Golden Crown Property
October 31 2017 - 3:14PM
Wolf Wiese CEO of Golden Dawn Minerals Inc., (TSX-V:GOM)
(FRANKFURT:3G8A) (OTC:GDMRF) (the “
Company” or
“Golden Dawn”) announces preliminary results from
surface diamond drilling at its Golden Crown property, part of the
Greenwood Precious Metals Project.
Surface diamond drilling is underway at the
Golden Crown property, part of the Greenwood Precious Metals
Project acquired in 2016. To date, a total of 1,488 metres have
been drilled in 21 holes. Initial results were received for the
first nine holes. Significant results for gold, silver and
copper are presented in the table below. The results indicate
gold and copper values of economic interest in massive sulphide
veins and adjacent wall rocks. The results also show that
significant gold mineralization occurs in the host rock diorite and
serpentinite (identified as wall rock in the table). High
gold values occur in wall rock containing small sulphide veinlets -
essentially these are mixed zones of sulphide and wall rock.
This style of mineralization was not previously recognized and was
not systematically tested in the historic drill holes.
Length weighted average grades were calculated
for two intercepts as follows:
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1. |
GC17-02: 12.3 meters (9.24-21.58 m), 3.53 g/t Au, 0.11%
Cu, |
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Including: (massive sulphide zone) |
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4.6
meters (17.0-21.58 m), 7.66 g/t Au, 0.13% Cu |
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Note: these intercepts include a few intervals with low core
recovery (as low as 21%). |
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2. |
GC17-05: 7.0 meters (14.65-21.60m), 5.14 g/t Au, 1.18%
Cu, |
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Including: (massive sulphide zone) |
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2.7
meters (18.13-20.82m), 12.27 g/t Au, 1.96% Cu |
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Note: the average grades for these intervals are
considered preliminary; they include one sample interval for which
the gold analysis is incomplete because the initial result was
above the laboratory upper detection limit of 30 g/t gold and a
repeat gravimetric fire assay has not yet been completed. For
this sample interval, a value of 30 g/t Au was used in the
calculation of average grade. |
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Table of Significant Results for 2017 Golden
Crown Drill Holes 1 to 9.
Hole |
From(m) |
To (m) |
Length(m) |
RecoveredLength |
Gold(g/t) |
Silver(g/t) |
Copper(%) |
Comment |
GC17-02 |
9.24 |
9.79 |
0.55 |
0.55 |
1.61 |
NS |
NS |
wall rock |
9.79 |
14.02 |
4.23 |
0.89 |
1.08 |
NS |
0.13 |
wall rock 21% recovery |
14.02 |
14.83 |
0.81 |
0.81 |
3.58 |
NS |
0.19 |
Massive sulphide(King Zone) |
14.83 |
17.00 |
2.17 |
0.59 |
NS |
NS |
NS |
wall rock 27% recovery |
17.00 |
17.57 |
0.57 |
0.57 |
7.57 |
NS |
0.08 |
massive sulphide(King Zone) |
17.57 |
18.18 |
0.61 |
0.61 |
4.03 |
NS |
0.15 |
massive sulphide(King Zone) |
18.18 |
18.84 |
0.66 |
0.66 |
14.10 |
NS |
0.8 |
massive sulphide(King Zone) |
18.84 |
19.74 |
0.9 |
0.52 |
2.52 |
NS |
0.11 |
massive sulphide(King Zone)57% recovery |
19.74 |
20.6 |
0.86 |
0.86 |
17.30 |
NS |
0.27 |
massive sulphide(King Zone) |
20.6 |
21.58 |
0.98 |
0.85 |
1.91 |
NS |
NS |
wall rock 87% recovery |
GC17-04 |
24.2 |
25.1 |
0.9 |
0.9 |
1.05 |
NS |
NS |
wall rock |
41.47 |
42.47 |
1.0 |
1.0 |
1.04 |
NS |
NS |
wall rock |
69.54 |
69.95 |
0.41 |
0.41 |
11.20 |
NS |
0.12 |
massive sulphide(King Zone) |
GC17-05 |
14.65 |
14.96 |
0.31 |
0.31 |
1.36 |
37.4 |
3.19 |
massive sulphide(King Zone) |
14.96 |
15.95 |
0.99 |
0.99 |
NS |
0.8 |
NS |
wall rock |
15.95 |
16.92 |
0.97 |
0.97 |
0.51 |
9.0 |
0.60 |
wall rock |
16.92 |
18.13 |
1.21 |
1.21 |
0.14 |
10.3 |
0.71 |
wall rock |
18.13 |
18.44 |
0.31 |
0.31 |
16.90 |
72.7 |
4.15 |
massive sulphide(King Zone) |
18.44 |
18.84 |
0.4 |
0.4 |
>30.0 |
75.6 |
3.18 |
massive sulphide(King Zone) |
18.84 |
19.24 |
0.4 |
0.4 |
24.50 |
67.5 |
3.92 |
massive sulphide(King Zone) |
19.24 |
20.56 |
1.32 |
1.32 |
0.81 |
3.0 |
0.19 |
wall rock |
20.56 |
20.82 |
0.26 |
0.26 |
18.80 |
59.9 |
3.47 |
mixed wall rockmassive sulphide |
20.82 |
21.28 |
0.46 |
0.46 |
2.72 |
9.7 |
0.57 |
wall rock |
21.28 |
21.6 |
0.32 |
0.32 |
1.01 |
13.5 |
0.64 |
mixed wall rockmassive sulphide |
GC17-08 |
47.98 |
48.36 |
0.38 |
0.38 |
2.01 |
0.6 |
0.12 |
wall rock |
79.96 |
80.52 |
0.56 |
0.56 |
12.60 |
2.9 |
0.26 |
massive sulphide(Winnipeg Zone) |
80.52 |
81.22 |
0.7 |
0.7 |
7.55 |
2.4 |
0.23 |
massive sulphide(Winnipeg Zone) |
109.15 |
109.45 |
0.3 |
0.3 |
2.71 |
0.3 |
NS |
wall rock |
GC17-09 |
41.91 |
42.21 |
0.3 |
0.3 |
4.01 |
0.4 |
NS |
wall rock |
NS= not significant; g/t = grams per tonne;
results for gold above detection limit: >30.00
The widths of zones reported above for the drill
holes are core lengths, which may be different from true
width. There is insufficient information at this time to
accurately estimate the true width of the zones.
The holes reported above were drilled to test
the King and Winnipeg zones. The most significant gold and
copper values are associated with massive sulphide zones or veins,
which are comprised of up to 97% sulphides including pyrrhotite and
pyrite, with associated chalcopyrite and minor arsenopyrite.
The initial drilling results are consistent with
previously reported grades and widths for the Golden Crown deposit
within the Greenwood Precious Metals Project. The results support
the conclusion that the deposit warrants detailed follow-up
investigation. The Golden Crown property lies 3 kilometres
from the Greenwood Processing Plant and is included in the
Preliminary Economic Assessment (PEA) as a key component of the
resource to be processed at the plant. Recommended work for
the Golden Crown mine includes infill drilling in areas of low data
density to potentially upgrade Inferred resources to Indicated
category, and underground rehabilitation and further mine
development, followed by bulk sampling and trial mining to prepare
the deposit for full scale production. Additional technical studies
were also recommended in the PEA report, including mine planning,
metallurgical, geotechnical and environmental studies. The
Company plans to complete this initial drilling campaign before the
end of the year and then proceed with permitting a bulk sample and
mining operation in the coming year.
The Company is also steadily progressing towards
re-opening the Lexington mine and milling operation, with
de-watering currently being done at the Lexington mine. A
plan and budget is being formulated for a trial mining operation,
which will start once the mine is dewatered. A time frame of
about two months has been set for wet commissioning of the
Greenwood Processing Plant, which is scheduled to commence once the
mining operation is underway.
Samples reported above were collected under the
supervision of Dr. Mathew Ball, P.Geo. and delivered to Activation
Laboratories (Act-Labs) in Kamloops, B.C. Activation
Laboratories (Act-Labs) is an independent commercial laboratory
that is ISO 9001 certified and ISO 17025 accredited. Analyses
for gold were by the fire assay method using 30 gram samples with
an AA finish. Fire assay gravimetric analyses are done on
initial gold analyses that assayed in excess of 30 grams per tonne
gold. Silver and other elements were analyzed by ICP-OES
using an aqua regia digestion. Quality control was monitored
using reference and blank samples inserted into the sample sequence
at intervals. Check analyses are being performed on selected
samples.
The Company would like to clarify that its
decision to proceed to extract mineralized material from the Golden
Crown and Lexington deposits for processing at its facility located
at the Greenwood Precious Metals Project is not based on a
feasibility study. The Company cautions that, in such cases, there
is increased uncertainty and higher economic and technical risks of
failure.
Technical disclosure in this news release has
been approved by Dr. Mathew Ball, P.Geo., a Qualified Person as
defined by National Instrument 43-101, and Chief Operating Officer
of the Company.
For more details, please see the most recent
National Instrument 43-101 Technical Report on the Company's
website at www.goldendawnminerals.com.
On behalf of the Board of Directors:
GOLDEN DAWN MINERALS INC.
Wolf Wiese, Chief Executive Officer
For further information, please
contact:Corporate
Communications604-221-8936
allinfo@goldendawnminerals.com
Renmark Financial Communications Inc. Barry
Mire: bmire@renmarkfinancial.comTel.: (416) 644-2020 or (514)
939-3989 www.renmarkfinancial.com
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