The Golden Predator claws more results out of the Yukon

Golden Predator’s (GPD-T) deep portfolio of 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 project could soon be grabbing 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 result came out of what is known as the Carlos zone, and indeed, out of the 47 holes, 19 were extensional or in-fill drilling at Carlos, while the remaining 28 were exploration holes in various locations across 134 sq. km property.

Of those 19 holes at Carlos, 12 of them hit notable intercepts with some of the other highlights being: 24 metres grading 3.24 grams gold from a depth of 216 metres; 76 metres grading 1.97 grams gold from a depth of 24 metres; 76 metres grading 2.22 grams gold from a depth of 24 metres and 78 metres grading 1.20 grams gold from a depth of 26 metres.

Carlos is described as an epithermal discovery in Eocene volcanic rocks similar to the  Sleeper and Midas deposits in Nevada. Back in 2010 drilling defined structural controls and orientations of high-grade veining, and this past year the intent was to further define these controls and the distribution of higher-grade mineralization. 

Golden Predator says the latest results support its interpretation of a structurally controlled epithermal gold mineralization and also extend known mineralization down dip, along both strike directions, and through areas where prior drilling was sparse.

It says Carlos remains open at depth but appears to be cut off along strike.

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

Results from Knoll were highlighted by 12 metres grading 0.54 grams gold from a depth of 68 metres; and 8 metres grading 0.30 grams gold from a depth of 10 metres.

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 interprets the results as potentially coming out of a hanging wall of another mineralized structural zone like Carlos.

Knoll Zone lies 2.5-km southeast and along strike from the Carlos.

The company recently received new exploration permits that will let it follow-up on results from the Knoll zone and other high priority targets at Grew Creek.

Grew Creek sits 32-km southwest of Faro and 24-km northwest of Ross River in the Yukon and has power lines cutting across it.

In Toronto the company’s shares were up 14% or 10¢ to 79¢ on 3.1 million shares traded.