Golden Predator Royalty & Development Corp.
TSX VENTURE : GPD

Golden Predator Royalty & Development Corp.

June 23, 2009 10:00 ET

Golden Predator Reports Higher Grade Silver Intercepts in 2009 RC Drilling at Taylor Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 23, 2009) -

NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWSWIRE SERVICES

Golden Predator Royalty & Development Corp. (TSX VENTURE:GPD) (the "Company") is pleased to announce results from an eleven hole drill program at the Company's Taylor project, located in White Pine County, Nevada. A total of 4595 ft (1400 m) of angled RC holes were drilled to test over 2000 ft (610 m) along a corridor of high grade silver mineralization in the vicinity of the historic Taylor underground mine. Results of this drilling indicate potential to extend the existing 43-101 compliant resource south along the high grade structural corridor, and also demonstrate potential to increase grade within the existing resource by better defining the location and geometry of the structural feeder within the known deposit.

The Company's Taylor Project includes 100% ownership of a mine and mill complex located near Ely, Nevada. The project hosts a measured resource of 1.2 million tons at 2.5 oz/t silver and an indicated resource of 5.2 million tons at 2.27 oz/t silver, for 14.9 million ounces of contained silver at a 1.2 oz/t cut-off grade (Hester, 2007), a 1,320 ton per day mill with flotation and cyanide leach plants, water rights and approximately 3,900 acres of mining claims.



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Taylor Significant Intercepts Greater Than 1.2 oz/t Silver
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Drill From To Interval Silver Silver
Hole # ft ft ft gm/t oz/t
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GPT002 345 349 4 172 5.02
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(i)Void 349 356 7
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GPT002 356 375 19 236 6.88
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including 356 360 4 451 13.15
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GPT003 425 430 5 191 5.57
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GPT004(i) 270 360 90 86 2.52
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including 350 355 5 306 8.92
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GPT005 105 110 5 191 5.57
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GPT005 130 135 5 131 3.82
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GPT005 185 220 35 72 2.11
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including 200 205 5 300 8.75
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GPT005 285 335 50 143 4.18
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including 325 335 10 343 10.00
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GPT006 130 175 45 147 4.29
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including 135 150 15 241 7.04
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GPT006 170 175 5 494 14.41
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GPT007 190 195 5 156 4.55
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GPT008 25 80 55 197 5.74
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including 75 80 5 677 19.75
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GPT009 0 45 45 97 2.84
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including 30 40 10 174 5.07
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GPT010 50 90 40 129 3.76
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including 50 55 5 331 9.65
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GPT011 190 195 5 131 3.82
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(i) Voids from historic mining/stoping encountered in drilling
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Drill holes GPT001 through GPT007 are located within 420 ft (128 m) of the historic Taylor shaft. These holes were designed to test historic high grade silver mineralization in the vicinity of existing underground workings. Results of these holes better define the location and geometry of the structural feeder zone that exists south of the known resource model.

The same structural zone hosting high grade mineralization in the historic workings extends north into the modeled resource area. Previous drilling on the known resource was primarily vertical drilling focused on the stratiform style mineralization in the deposit. Drill Holes GPT008 - GPT011 are drilled to test for the structural feeder zone extending up to 2000 ft (610 m) north of the historic Taylor shaft. The grades returned in these drill holes testing the structural zone within the existing resource model exceed the expected grades in the model. Along with the few other angle holes, such as FT98, drilled in March, 2007, which intersected 20 ft of 15 oz/t (6 m of 514 ppm) silver from 45 ft (13 m) depth, the encouraging results obtained with this drilling have significant potential for increasing the average grade of the known resource.

Geologic modeling of the drill hole data is ongoing to better define the stratigraphic and structural controls of the mineralizing feeder system, to improve the modeling of grade in the two styles of mineralization within the deposit. This work is anticipated to yield additional targets, improve overall grade of the existing resource, and potentially delineate a new high grade silver resource.

Additional information and property location map may be viewed on the Company's website (http://www.goldenpredator.com/s/Taylor.asp).

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. Silver was analyzed by aqua regia digestion and AAS. Samples exceeding 100 ppm silver were run for both gold and silver by fire assay using a 30g nominal sample weight with gravimetric finish. 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. Travis Schwertfeger P.Geo., Exploration Manager, is the Qualified Person as defined under National Instrument 43-101, overseeing Golden Predator's exploration programs in 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 is focused on becoming a mid-tier precious metals producer in Nevada through the strategic use of its Taylor milling facility near Ely, Nevada along with a facilities use agreement at EMC Metals' Springer Facility in Pershing County, Nevada which is adjacent to Predator's Humboldt mill site.

In addition, the Company is aggressively exploring the Gold Dome and Brewery Creek projects in the prolific Tintina Gold Trend of the Yukon Territory through its wholly owned subsidiary True North Mining Corp. In Nevada, Golden Predator is planning to drill a number of its bonanza gold and silver projects in 2009 with the mandate to identify one or more properties for near term production of small-tonnage high grade ores.

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
    Chairman
    (867) 335-5000
    or
    Golden Predator Royalty & Development Corp.
    Robert Eadie
    President
    (604) 602-4935
    www.goldenpredator.com