Golden Predator hits higher grades at Brewery Creek

Vancouver – Golden Predator’s (GPD-T) winter drill program has continued to expand the Bohemian zone at the Brewery Creek gold project in the Yukon.

The company has released two rounds of assay results on holes it drilled in February, with all 15 holes hitting significant mineralization. Golden Predator is working to better understand the steeply dipping structural corridor that traverses the Bohemian zone that it discovered last year. So far the company has established that the 25-metre wide east-west corridor runs at least 250 metres and remains open in both directions.

In the latest round of results, hole 11-183 hit 28 metres grading 5.06 grams gold per tonne from 46 metres depth and included 13.5 metres carrying 8.78 grams gold, hole 11-182 cut 10 metres averaging 3.56 grams gold from 39 metres, hole 184 cut 46.1 metres averaging 1 gram gold from 37 metres depth and hole 187 returned 11 metres averaging 3.10 grams gold from 15 metres depth.

In the earlier results, released two weeks before, hole 11-176 cut 32.9 metres carrying 3.01 grams gold from 43 metres depth, hole 11-175 hit 31.2 metres averaging 2.61 grams gold from 49 metres downhole and hole 177 returned 31 metres grading 2.84 grams gold from 54 metres depth.

The fracture controlled gold mineralization at Brewery Creek is hosted within porphyritic monzonite, quartz monzonite, biotite monzonite and interbedded fine-grained, siliclastic sediments.

The area was actively mined by Viceroy Resources between 1996 and 2002, with roughly 280,000 oz. produced from seven near-surface oxide deposits. The Bohemian zone lies roughly 500 metres east of the Lucky zone, which is the nearest past-producing deposit.

Golden Predator optioned into the property from Alexco Resource (AXR-T, AXU-X) in 2009 and can earn 75% by spending $6 million in exploration by 2015. The property also has two underlying royalty agreements, one being a sliding scale royalty on the next 21,516 oz. gold produced and the other a 5% net profits royalty on gold production.

The property hosts an indicated resource of 3.98 million tonnes grading 1.14 grams gold and an inferred resource of 2.2 million tonnes 2.01 grams gold using a 0.5 gram cutoff. The company expects to have an updated resource out in the second or third quarter of this year.

The company closed a $22.7 million bought deal private placement in early March and now has 107 million shares outstanding. In mid-March the company sold its Nevada silver property portfolio to Silver Predator (SPD-T) for 5 million shares, and may received 11 million more as Silver Predator earns into the Taylor property.

Golden Predator has a number of other properties in the Yukon, with over 2,000 sq. km of exploration lands. The company plans to spend $11.5 million on Yukon exploration this year, $2 million of that at Brewery Creek.