Golden Predator Royalty & Development Corp.

Golden Predator Royalty & Development Corp.

May 06, 2009 10:00 ET

Golden Predator to Drill High Grade Silver Targets at Taylor

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 6, 2009) - Golden Predator Royalty & Development Corp. (TSX VENTURE:GPD) (the "Company") announces that drilling has commenced with an RC drill rig to test historic, high grade silver intersections as high as 3,000 oz/t in the vicinity of the Taylor underground mine, which last produced in 1966.

The Company's Taylor Project includes 100% ownership of a mine and mill complex, located near Ely, Nevada. The project hosts a measured and indicated resource of 14.9 million ounces of silver (resource prepared by Hester and Pickarts (2007). Resource grade @ 2.31 oz/t Ag calculated using a cut off grade of 1.2 oz/t), a 1,320 ton per day mill with flotation and cyanide leach plants, water rights and approximately 3,900 acres of mining claims.

The Company's primary focus at Taylor is two-fold:

1. identify a possible high-grade underground silver resource within the previously identified feeder structure.

2. utilize existing infrastructure to provide flexible processing solutions for a growing portfolio of precious metal projects, and in a manner which will provide long-term stable returns.

This drill program for Taylor follows recommendations in a Technical Report by Michael Hester, dated January 19, 2009, recommending the Company initiate a 2,800 foot reverse circulation drilling program. Drilling is expected to consist of at least four angle holes to test a high grade area at the south end of the historic Taylor mine where Silver King Mines drilled nearly 50 shallow vertical holes during the early to mid-1960's and discovered high grade silver veins. Two of the vertical holes were drilled to depths of 800 and 732 feet with drill hole T98 intersecting two thin zones of high grade silver mineralization grading 110.31 oz/t and 408 oz/t to a depth of 620 feet. This resulted in several deeper vertical holes being drilled; the best of these intersecting 2 feet of 3,107 oz/t Ag in T130. A fifth angled drill hole is recommended to test for a southern extension of this mineralization. Only some of the assays from the Silver King drilling are in the property database and no gold assays are known for this work.

About Golden Predator Royalty & Development Corp.

The Company is focused on becoming a mid-tier precious metals producer in Nevada through the strategic use of its Taylor milling facility near Ely, NV and through a facilities use agreement at the Springer Facility with its sister company, EMC Metals Corp. Golden Predator is moving forward on several of its gold and silver projects in 2009 with the mandate to identify one or more properties for near term production of small-tonnage high grade opportunities. In addition, the company is partially self-financed through its passive royalty stream from a portfolio of properties that are anticipated to yield approximately $1.2 million at current gold prices for 2009.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Golden Predator Royalty & Development Corp.
    William Sheriff
    (972) 333-2214
    Golden Predator Royalty & Development Corp.
    Steve Vanry
    (604) 648-4660