The latest drill results from Golden Predator’s (GPD-T) Brewery Creek project in the Yukon indicated that two known gold zones on the property may well link up.
The highlight assays came out of three holes all of which intercept gold at shallow depths.
The holes were testing the newly discovered Bohemian zone and returned 50.5 metres grading 2.79 grams gold beginning at 15.5 metres; 56.5 metres grading 3.2 grams from a depth of 27 metres and 27.5 metres grading 1.15 grams gold from 39.5 metres.
In Toronto on Dec. 8 the company’s shares were up 6% or 4¢ to 67¢ on 1.29 million shares traded.
“This makes the third major discovery from our 2010 drill programs,” Golden Predator’s chairman and chief executive William Sheriff said in a statement.
With the most recent results the company says its has begun to delineate a new high-grade zone that cuts through the Bohemian Zone and projects toward the Schooner Zone 400 metres to the east.
At Schooner, historic trenching returned 2.58 grams gold over 30 metres and 2.92 grams gold over 12 metres.
The recent 10 hole drill program at the site focused on the eastern extension of an identified 15-km long mineralized trend.
In all, seven holes were drilled into the Bohemian zone for 948.54 metres while three RC holes were put into the Golden zone for 399.29 metres.
The company was guided to the recent discovery of Bohemian by the 130 historic holes drilled in a widespread area around and within the zone – none of which, however, was able to define continuous mineralization.
Highlight’s from those historical holes include 5.14 grams fold over 34.88 metres.
Golden Predator says it will start the drills up again at Brewery Creek in February of next year and plans to have an updated resource estimate out for the project some time during the second quarter.
The project currently has indicated resource of 3.98 million tonnes grading 1.135 grams gold and an inferred resource of 2.2 million tonnes grading 2.01 grams gold.
Brewery Creek is a past producing heap leach gold mine that produced 278,484 oz of gold between 1996 and 2002.
The project sits 55-km east of Dawson City in the northwestern region of the Yukon and was acquired from Alexco Resources (AXR-T) in 2009.
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