April 17, 2014 17:08 ET
VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 17, 2014) - Wolf Wiese CEO of Golden Dawn Minerals Inc. (the company) (TSX VENTURE:GOM)(FRANKFURT:3G8A) reports due to the lack of funding opportunities for low grade bulk tonnage Gold deposits, the company has made decision to relinquish its option agreement for the Tam O' Shanter property on its Greenwood Precious Metal Project in Greenwood B.C. The Tam O' Shanter Property was contiguous to the Northwest to the Wild Rose Property. The Wild rose Property and the Tam O' Shanter property shared an inferred gold resource of 415,000 troy ounces at 0.52 grams per tonne (g/t) gold utilizing a lower cut-off of 0.3 g/t gold (see company news release dated January 29th, 2013). At this point our technical consultants are calculating the amount of reduction of the Wild Rose Gold inferred resource. Therefore the disclosures in the N.I.43-10 disclosing this resource can no longer be relied upon. The Historic Wild Rose Mine Southeast of the Deadwood Gold Zone where the bulk of the resource is located is not affected by the severance of the Tam O' Shanter property. The company will disclose the correct inferred Gold resource located on the Wild Rose Properties Dead Wood Zone as soon as our Technical consultants have made these calculations.
The company is focused on advancing the historic May Mac Mine and Wild Rose Mine towards bulk sampling. The Wild Rose is a high grade narrow vein gold copper mine with an existing 350 meter adit on the wild Rose property and the May Mac Mine is a high grade polymetalic Mine with 7 exiting adits a 100 ton mill and permitted tailings pond. The Mac Mine is located 4KM south of the Wild Rose adit on the contiguous Boundary Falls property. These properties are 3 Km west of the city of Greenwood on Highway 3.
On Behalf of the board of directors:
GOLDEN DAWN MINERALS INC.
This news release was reviewed by Mike Dufresne Q.P. under N.I 43-101.
On behalf of the Board of Directors:
Wolf Wiese, President
THIS PRESS RELEASE WAS PREPARED BY MANAGEMENT WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS. NEITHER CSE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. THIS DOCUMENT CONTAINS CERTAIN FORWARD LOOKING STATEMENTS WHICH INVOLVE KNOWN AND UNKNOWN RISKS, DELAYS, AND UNCERTAINTIES NOT UNDER THE COMPANY'S CONTROL WHICH MAY CAUSE ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS OF THE COMPANY TO BE MATERIALLY DIFFERENT FROM THE RESULTS, PERFORMANCE, OR ACHIEVEMENTS IMPLIED BY THESE FORWARD LOOKING STATEMENTS. WE SEEK SAFE HARBOR.
Golden Dawn Minerals Inc.Wolf WiesePresident604firstname.lastname@example.orgGolden Dawn Minerals Inc.Micheal PoulinCorporate Development604email@example.com
See all RSS Newsfeeds