Golden Predator’s (GPD-T) drive to become the Yukon’s leading explorer got a boost from results at its Grew Creek project in the central part of the territory.
Assays were highlighted by one hole returning 46.7 metres grading 3.78 grams gold and another yielding 47.3 metres grading 1 gram gold.
The highlight intercepts came at relatively shallow depths with the first hitting gold at the 130.4 metre level and the second striking mineralization at the 47 metre level.
The results came out of six core holes from its winter 2011 drill program at the Carlos zone and, the company says, continue to confirm the position and orientation of veins and high-grade stockwork zones modeled from historic drill data.
The recent drilling helped to not only fill in some of the historic drill pattern but also extended the known mineralized zones along strike and down dip.
The company says that historic drilling at the site didn’t recognize the structural
orientation of gold mineralization so a new structural model was generated by the company last year.
Golden Predator is still waiting on results from the last five holes of the 20 hole winter program which was wrapped up last month.
The data from the program will go towards compiling an initial indicated resource on the project. It expects such a resource to be released later this year.
Grew Creek lies 32 km outside of the town of Faro and has a highway and a power lines cutting through the project area.
The company is also busy at its flagship Brewery Creek project where it plans to have an updated resource estimate done by the second quarter of this year. The project currently has an indicated resource of 3.98 million tonnes grading 1.135 grams gold and inferred resources of 2.2 million tonnes grading 2.01 grams gold.
Brewery Creek was an operating mine from 1996 until 2002, over which time it turned out 278,484 oz. of gold.
Beyond Brewery and Grew Creek, Golden Predator is also advancing its Clear Creek project which lies 46 km southeast of Brewery Creek.
The company wants to have an initial resource estimate on the project done by the end of 2011.
In Toronto on June 21 the company’s shares were up 5% or 5¢ to 98¢ on 620,000 shares traded.
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