Golden Predator Royalty & Development Corp.
TSX VENTURE : GPD

Golden Predator Royalty & Development Corp.

November 23, 2009 12:44 ET

Golden Predator Reports 97.5 feet of 13.25 gpt Au from Hole GPGR-29 at Golden Ridge Project, NE California

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 23, 2009) - Golden Predator Royalty & Development Corp. (TSX VENTURE:GPD) (the "Company") is pleased to release additional assay results from drill hole GPGR-29 from the 2009 reverse circulation drilling program at the Golden Ridge Project, located in the High Grade district in northeastern Modoc County, California (see News Release 09-32 dated October 1, 2009). Previously announced high grade gold intercepts in drill hole GPGR-29 included 5 feet (1.5 meters) averaging 2.919 opt Au (100.07 gpt) from 52.5 to 57.5 ft (16 to 17.5 m) and 15 ft (4.6 m) averaging 0.913 opt Au (31.306 gpt) from 132.5 to 147.5 ft (40.4 to 45 m). The rhyolitic wallrock between these two gold bearing quartz adularia vein zones has since been analyzed and found to contain additional gold mineralization in silicified rhyolite breccias adjacent to the veins.

The new results include 12.5 ft (3.8 m) from 120.0 to 132.5 ft (36.6 to 40.4 m) of stockwork quartz-sulfide mineralization in the hanging wall of the lower of the two veins averaging 0.651 opt Au (22.327 gpt). With the new assay data, the lower Alturas vein zone in GPGR-29 has a thirty foot drilled interval from 120 to 150 ft averaging 0.734 opt (25.05 gpt) at a 3 gpt grade cutoff. The five feet from 130 to 135 averages 2.730 opt Au (93.6 gpt). Significant intercepts include:

Golden Ridge Significant Intercepts
Drill
Hole #
From
ft
To
ft
Interval
ft
Gold
gpt
Gold
opt
GPGR-2952.515097.513.25.386
including52.557.55 (1.5 m)100.072.919
including120.0150.030 (9.2 m)25.0480.734

The upper quartz-adularia vein was within the silicified rhyolite breccia and assayed 2.919 opt Au (100.07 gpt) from 50 to 55 ft (15.2 to 16.8 m), including 2.5 ft (0.76 m) from 50 to 52.5 ft (15.2 to 16 m) that assayed 5.469 opt Au (187.5 gpt).

The Company completed a four hole core drilling program in October to follow up on the intercept in RC drill hole GPGR-29 and the adjacent Alturas vein system below and along strike to the north and south. The core from this program is in the process of being logged, cut and analyzed, with initial results anticipated in mid-December.

Golden Predator has consolidated the largest land position in the High Grade district ever held by a single gold exploration company containing over 14 historic mines including the Sunshine, Modoc, Moonlight, Alturas, Consolidated and Klondike mines. Anomalous gold covers an area over three miles in length and one mile wide. The Company's 2009 drilling program is making the first drill tests on several of the outcropping quartz-adularia vein targets. The Golden Ridge Project represents a district-scale discovery opportunity with the potential for several underground mineable bonanza-grade gold deposits.

Additional information, including the October 1, 2009 News Release with assay values for the initial 2009 drilling results, along with property photos and location map may be viewed on the Company's website (http://www.goldenpredator.com).

Laboratory Analysis and QA/QC:

ALS CHEMEX of Reno and Elko, NV performed all lab analyses. Samples in the lab were logged-in and assigned a barcode. The samples were 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 riffle split with one split pulverized to 85% less than 75 microns. Gold was analyzed by fire assay and AAS using a 30 gm sample weight. Samples exceeding 10 ppm were analyzed by fire assay with a gravimetric finish. Silver was analyzed by aqua regia digestion and ICP-AES or AAS. = Detection limits for gold and silver are, 0.005 ppm and 1 ppm, respectively. Lab results for gold and silver are reported in ppm units. In public disclosure, ounce per imperial ton (opt) and gram per metric tonne (gpt) is used, where 34.285 ppm is equivalent to 1 opt and 1 ppm is equivalent to 1 gpt.

QA/QC procedures for reverse circulation drilling includes submittal of a duplicate sample for every twenty samples and also a combination of blank and references submitted for every twenty samples submitted.

All assay numbers are reported 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 metals exploration company.

The Company is focused on exploring for and developing world class gold deposits in the Yukon's Tintina Gold Belt, where the Company is aggressively exploring its Gold (Scheelite) Dome, Antimony Mountain, Clear Creek and the Brewery Creek projects.

The Company is also drilling a number of its Nevada and California properties with bonanza-style gold targets, including Adelaide, Golden Ridge and Angel's Camp, to potentially provide near term production of small-tonnage high grade ores. The Company intends, through its strategic use of modular mills at its Taylor and Humboldt mill sites, to become a gold producer capable of funding its Yukon program. In addition, the Company currently receives in excess of $1.2 M per year from its royalty stream.

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
    Chairman & CEO
    (604) 648-GOLD
    or
    Golden Predator Royalty & Development Corp.
    John Legg
    President
    (604) 648-4653
    www.goldenpredator.com