VANCOUVER, British Columbia, Aug. 04, 2020 (GLOBE NEWSWIRE) -- Golden Predator Mining Corp. (TSX.V:GPY, OTCQX:NTGSF) (the “Company”) reports that Gustavson Associates, LLC, retained to prepare an updated Mineral Resource Estimate incorporating the 2019 drill results into the resource model by the end of July 2020, has notified the Company that the results will be available no later than August 25th, 2020. Gustavson Associates, LLC cited several factors including:
- Personnel assigned to this phase of the project left the firm for another opportunity. This resulted in a significant reduction in capacity and has affected the project schedule;
- Inefficiencies due to a change in their typical workflow and practices amidst the current pandemic.
While the Company is disappointed in this delay it understands the uniqueness of the situation and looks forward to receipt of the new mineral resource estimate.
Brewery Creek Mine: Resources1
The Company anticipates the release of a new Mineral Resource Estimate by August 25th which will fully integrate all drilling to date. This will supersede the 2019 Mineral Resource Estimate:
| 2019 Brewery Creek Mineral Resource Estimate(1) | |||
| Oxide | Tonnes | g/t | Gold Oz. |
| Indicated | 21,140,000 | 1.13 | 765,000 |
| Inferred | 14,120,000 | 0.97 | 440,000 |
| Sulfide | Tonnes | g/t | Gold Oz. |
| Inferred | 8,570,000 | 0.99 | 270,000 |
| 2019 drilling results and materials on the heap leach pad were not included in the resource update. | |||
The technical content of this news release has been reviewed and approved by Michael Maslowski, CPG, a Qualified Person as defined by National Instrument 43-101 and is employed by the Company as its Chief Operating Officer.
About Golden Predator Mining Corp.
Golden Predator is advancing the past-producing Brewery Creek Mine towards a timely resumption of mining activities, under its Quartz Mining and Water Licenses, in Canada’s Yukon. The Brewery Creek Mine project has established mineral resources grading over 1.0 g/t Gold with planning studies currently underway by to consider the feasibility of restarting the mine. Drilling continues to expand the open-ended mineralized areas and untested targets across the 180 km2 brownfield property located 55 km by road from Dawson City, Yukon. The Company has a Socio-Economic Accord with the Tr’ondëk Hwëch’in First Nation.
For additional information:
Janet Lee-Sheriff
Chief Executive Officer
(604) 260-8435
[email protected]
www.goldenpredator.com
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 Brewery Creek will advance to an early production decision, or the extent of any additional mineral resource that could result from incorporating 2019 exploration drilling. 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.
- The 2019 Mineral Resource Estimate was conducted in accordance with CIM guidelines and is reported in a NI 43-101 Technical Report available on SEDAR and the Company’s website.
