Golden Predator‘s (GPD-T) drive to become a leading explorer in the Yukon got a boost from results at its Grew Creek gold project in the central part of the territory.
Assays were highlighted by one hole returning 47 metres grading 3.78 grams gold, and another yielding 47 metres at 1 gram gold.
These intercepts came at relatively shallow depths, with the first hitting gold at 130 metres downhole, and the second striking mineralization at 47 metres downhole.
The results came out of six core holes from its winter 2011 drill program at the Carlos zone. The company says they confirm the position and orientation of veins and high-grade stockwork zones modelled from historic drill data.
The recent drilling helped fill some of the historic drill pattern, and extended mineralized zones along strike and down dip.
The company says that historic drilling at the site didn’t adequately recognize the structural orientation of gold mineralization. A new structural model was generated by the company last year.
Golden Predator is waiting for results from the last five holes of the 20-hole winter program, which wrapped-up last month.
The data from the program will go towards compiling an initial indicated resource on the project, expected to be released later this year.
Grew Creek lies 32 km outside the town of Faro. A highway and power lines cut through the project area.
The company is also busy at its flagship Brewery Creek project, where it expects an updated resource estimate soon. The project has an indicated resource close to 4 million tonnes grading 1.14 grams gold, and inferred resources of 2.2 million tonnes grading 2.01 grams gold.
Brewery Creek was an operating mine from 1996 until 2002, during which time it turned out 278,484 oz. gold.
Golden Predator is also advancing its Clear Creek project 46 km southeast of Brewery Creek. The company plans to complete an initial resource estimate on the project before 2012.
After the news was released in Toronto on June 21, the company’s shares rose 5¢ to 98¢ on 620,000 shares traded.
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