Golden Predator’s (GPD-T) latest drill results have it bullish on what was once considered a lesser target.
The company’s latest assays come from seven diamond drill holes at its 40 sq. km Antimony Mountain project in the Yukon.
Highlights from the results include:13.88 metres grading 2.3 grams gold; 3.15 metres grading 25.06 grams gold and 4.88 metres grading 12.45 grams gold.
The results come from a series of short holes (the deepest mineralization was encountered at roughly 80 metres) drilled at what it calls the AJ target.
The target had been the site of historic activity with previous operators showing vein continuity and a grab sample from 2006 returning 77.7 grams per tonne gold from an outcropping quartz-tourmaline-sulphide vein.
Despite those indicators Golden Predator says the AJ Vein was not a high priority target, that is, until the latest results came through.
Now Golden Predator says it believes the target could host minable grades and widths for an underground operation.
“The promising results to date, coupled with the sheer size of the Antimony Mountain Project and the numerous anomalous target areas mean that it will be one of the company’s primary projects in 2010.” Bill Sheriff, Golden Predators’ chairman and chief executive said in a statement.
For all of 2009 the company drilled 12 diamond drill holes at the project with 9 of the 12 holes drilled intersecting multiple zones of gold mineralization.
The Antimony is in west-central Yukon, roughly 65-km northeast of Dawson City and 25-km north of Golden Predator’s Brewery Creek project.
In Toronto on Jan. 5 the company’s shares were off roughly 9% or 7¢ to 73¢ on 255,000 shares traded.
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