Golden Predator claws more results out of the Yukon

Golden Predator’s (GPD-T) deep portfolio of gold projects in the Yukon is looking a little more robust after its latest drill results.

While Brewery Creek remains the company’s flagship project with a production decision coming imminently, the latest results show that its Grew Creek gold  project could soon grab its share of the spotlight.

Assays came out of the last 47 reverse-circulation holes drilled as part of its 2011 program and were highlighted by one hole returning 68 metres grading 5.96 grams gold and 24.1 grams silver.

The results came out of the Carlos zone. Out of 47 holes, 19 were extension or infill drilling at Carlos, while the remaining 28 were exploration holes in various locations across the 134-sq.-km property.

Twelve of Carlos’ 19 holes hit notable intercepts. 

The other highlights included 24 metres grading 3.24 grams gold from a 216-metre depth, 76 metres grading 1.97 grams gold from a 24-metre depth, 76 metres grading 2.22 grams gold from a 24-metre depth and 78 metres grading 1.20 grams gold from a 26-metre depth.

Carlos is described as an epithermal discovery in Eocene volcanic rocks similar to Newmont Mining’s (NMC-T, NEM-N) Midas deposit in Nevada. 

In 2010 drilling defined structural controls and high-grade veining, and this past year the intent was to further define these controls and the distribution of higher-grade gold mineralization. 

Golden Predator says the latest results support a structurally controlled epithermal gold mineralization and extend known mineralization downdip along both strike directions, including through areas where prior drilling was sparse.

It says Carlos remains open at depth but cuts off along strike.

The 28 holes zeroed in on six targets during district-wide drilling, with the Knoll zone returning the most encouraging results.

Results from Knoll were highlighted by 12 metres grading 0.54 gram gold from a 68-metre depth and 8 metres grading 0.30 gram gold from a 10-metre depth.

Knoll hosts outcropping silicified epiclastic sediments with chalcedonic coliform quartz veining, which likely represent the same sequence of epiclastic sediments encountered in the weakly mineralized hanging wall at the Carlos zone. 

The company believes the results come from the hanging wall of a mineralized structural zone that is similar to Carlos.

The Knoll zone lies 2.5 km southeast and along strike of Carlos.

The company has received new exploration permits that will allow follow-up on Knoll zone results, and other high-priority targets at Grew Creek.

Grew Creek has power lines and is located 32 km southwest of Faro and 24 km northwest of Ross River.

The company’s shares shot up 14%, or 10¢, to 79¢ on 3.1 million shares traded in on Feb.23 — the day results were released.