Golden Predator Royalty & Development Corp.

Golden Predator Royalty & Development Corp.

September 11, 2009 12:18 ET

Golden Predator Intersects 15 Feet of 0.499 opt Gold at Angel's Camp

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 11, 2009) - Golden Predator Royalty & Development Corp. (TSX VENTURE:GPD) (the "Company") is pleased to release assays for the first 6 holes drilled at its Angel's Camp project in Lake County, Oregon. Significant gold is reported from 5 of the 6 holes including 15 ft of 0.499 ounces per ton from hole GPAC-04. Select drill results include:

HOLE FOOTAGE INTERVAL Au opt Ag opt Au g/t Ag g/t
GPAC-02 237.5-250 12.5 ft (3.8 m) .166 - 5.69 -
GPAC-03 230-300 TD 70.0 ft (21.3 m) .088 - 3.02 -
including 230-262.5 32.5 ft (9.9 m) .135 - 4.62 -
including 237.5-240 2.5 ft (0.76 m) .491 - 16.85 -
and 252.5-257.5 5.0 ft (1.5 m) .344 2.44 11.80 83.5
GPAC-04 280-320 40.0 ft (12.2 m) .207 - 7.105 -
including 302.5-317.5 15.0 ft (4.6 m) .499 - 17.11 -
including 312.5-317.5 5.0 ft (1.5 m) 1.135 - 38.9 -

The Company completed a computer modeled evaluation of all previous drill data for Angel's Camp in 2007, which revealed a NNW trending, nearly vertical zone of high-grade gold intercepts approximately 200 ft (61 m) in length, 35 to 50 ft (10.7 to 15 m) in width, plunging steeply to the north and at least 400 ft (121.9 m) in vertical dimension. This NNW plunging breccia pipe is at the intersection of several structural elements including the Angel's Camp vein and AC fault along with a newly defined second vein. This zone, which is open at depth, was the target of the 2009 drilling program.

Nine holes totaling 4,185 ft (1,276 m) have been completed on the Angel's Camp target. The 2009 program was designed to infill and expand on the vertical and lateral extent of the bonanza style gold mineralization within the Angel's Camp vein structure. Assays have now been received for the first six holes of the nine hole program, and these initial results confirm the previously defined mineralization through the untested core of the zone, and extend the mineralization down dip.

Hole GPAC-01 intersected clay altered heterolithic rhyolite tuff containing strong disseminated pyrite and minor quartz-adularia veining at the projected location of the Angel's Camp structure between 162.5 and 187.5 ft (49.5 to 57.2 m). The altered volcanics assayed 0.693 g/t Au (0.020 opt) between 180 and 187.5 ft (54.9 to 57.2 m) within this zone. The geological interpretation of this and adjacent holes indicates that hole GPAC-01 skimmed over the top of the gold mineralized zone.

Hole GPAC-02 penetrated the Angel's Camp mineralized breccia pipe between 212.5 and 262.5 ft (64.77 to 80 m), with quartz-adularia veining in silicified multilithic breccia from 237.5 to 250 ft (72.4 to 76.2 m) assaying an average of 5.693 ppm Au (0.166 opt) over 12.5 ft (3.8 m) of intercept length including 237.5 to 240 ft (72.4 to 73.15 m) at 10.35 ppm (0.302 opt) and 247.5 to 250 ft (75.4 to 76.2 m) of 9.87 ppm Au (0.288 opt).

Hole GPAC-03 was drilled to test the mineralized zone in between two better defined zones of gold mineralization where no previous drilling had been completed. The mineralized breccia was intercepted 225 and 300 ft (68.6 to 91.4 m) of depth, with two quartz vein hosted higher grade gold intercepts within the broader zone of disseminated gold values. The upper quartz-adularia vein located on the breccia zone hanging wall was from 235 to 240 ft (71.6 to 73.15 m) and assayed 9.445 ppm (0.275 opt) over 5 ft. The lower vein intercept was located near the center of the silicified breccia pipe between 255 to 257.5 ft (77.7 to 78.5 m) and assayed 11.8 ppm Au (0.344 opt). The overall mineralized zone from 230 to 262.5 ft (70.1 to 80 m) averaged 4.62 ppm Au (0.135 opt).

Hole GPAC-04 was drilled to 400 ft (121.9 m) intercepting the mineralized envelope between 250 and 320 ft (76.2 to 97.5 m). A five foot zone of quartz-adularia veining within sheared and quartz-sericite-pyrite altered volcanic breccia from 312.5 to 317.5 ft (95.25 to 96.8 m) averaged 38.9 ppm Au (1.135 opt) within a wider zone of veining and alteration from 302.5 to 317.5 ft (92.2 to 96.8 m) that averaged 17.11 ppm (0.499 opt). This hole extended the area of defined high grade gold mineralization to the north and down dip of the previous drilling intercepts.

Holes GPAC-05 and GPAC-06 were drilled 200 ft (61 m) north of the initial site. These holes were targeted on the northern, down dip untested portion of the mineralized zone as modeled. Hole GPAC-05 appears to have deviated below the projected mineralized envelope and had no significant gold mineralization. Hole GPAC-06 intercepted quartz-sericite-pyrite altered basalt from 460 to 542.5 ft (140.2 to 165.4 m) with a core zone of anomalous gold mineralization from 475 to 515 ft.

The Company's 2009 reverse-circulation drilling program at Angel's Camp has confirmed the existence of bonanza style gold mineralization hosted by quartz-adularia veining within a hydrothermally altered package of rhyolite volcanics and underlying basalt as indicated by modeling of previous drilling data on the Angel's Camp vein. All intervals reported are drilled widths. The drilling results correlated well with the geological model, with the projected boundaries of the gold mineralization and hydrothermal alteration intersected within feet of the model. The mineralized breccia pipe at Angel's Camp is still open at depth and additional drilling is proposed to further define the extent of the gold bearing structure and to test for parallel veins within the relatively untested footwall and laterally to the north and south of the current gold mineralization boundaries.

Additional information, including the May 29, 2009 press release with intercepts and assay values for the previous drilling at Angel's Camp, project photos and property location map may be viewed on the Company's website.

Laboratory Analysis and QA/QC

ALS CHEMEX of Reno, NV and Elko, NV performed all primary lab analyses. Samples received in the lab were first logged-in and assigned a barcode. The samples were then rotary split prior to crushing to retain a coarse sample for metallurgical work. The remainder was fine crushed to 70% less than 2 mm then split with a riffle splitter with one split pulverized to 85% less than 75 microns. Gold was analyzed by fire assay and AAS using a nominal 30 gm sample weight. For samples exceeding 10 ppm, values were analyzed by fire assay with a gravimetric finish. Silver was analyzed by aqua regia digestion and ICP-AES or AAS. Levels of detection for gold and silver are 0.005 ppm and 1 ppm, respectively. Assay results for gold and silver are reported by the lab in ppm units. In public disclosure, ounce per imperial ton (oz/t) and gram per metric tonne (gm/t) is used, where 34.285 ppm is equivalent to 1 oz/t and 1 ppm is equivalent to 1 gm/t.

QA/QC procedures followed for the reverse circulation drilling include submittal of chip samples for analysis with a duplicate sample for every twenty samples submitted and also a combination of blank and reference samples submitted for every twenty samples submitted.

All assay numbers are reported as un-cut and all intercepts are reported as drill width and are not to be interpreted as true widths. David R. Hembree, P.Geo. is the Qualified Person as defined under National Instrument 43-101, overseeing the Company's U.S. exploration programs outside Nevada, and has reviewed & verified the information presented on QA/QC procedures and technical aspects of the drilling results in this press release.

About Golden Predator Royalty & Development Corp.

Golden Predator's corporate mandate is to establish a self-funded precious metal exploration company with an immediate focus on exploring for and developing world class gold deposits in the Tintina Gold Belt and the Rocky Mountain Alkalic Gold Province. The Company seeks internal revenue generation from early high grade precious metals production in Nevada augmented by increasing revenues from its royalty portfolio.

The Company is aggressively exploring its three Yukon properties, Gold Dome, Brewery Creek, and Antimony Mountain, in the prolific Tintina Gold Belt through its wholly owned subsidiary True North Mining Corp. Brewery Creek has a current Type A water license and a production license.

In Nevada and adjacent states, Golden Predator is drilling a number of its properties with bonanza-style gold mineralization in 2009 with the intent of identifying one or more properties for near term production of small-tonnage high grade ores. The Company intends, through strategic use of its Taylor Mill near Ely, Nevada and a facilities use agreement at EMC Metals Corp.'s Springer Facility in Pershing County, Nevada, to become a mid-tier precious metals producer.

Golden Predator is partially self-financed through its passive pre-production royalty stream from a portfolio of properties, anticipated to yield approximately $1.2 million during 2009. The Company owns royalties on several known deposits including a portion of the Barrick Bald Mountain property, the Pan deposit of Midway Gold, significant portions of US Gold's Tonkin Springs deposit and Evolving Gold's Rattlesnake project.

This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance. There are numerous risks and uncertainties that could cause actual results and Golden Predator's plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, Golden Predator assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.

Neither TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Golden Predator Royalty & Development Corp.
    William Sheriff
    (867) 335-5000
    Golden Predator Royalty & Development Corp.
    Robert Eadie
    (604) 602-4935