Golden Dawn Wildrose-TamO'Shanter Drill Results
24 January 2011
2011-01-24 12:17 ET - News Release
Mr. Wolf Wiese reports
GOLDEN DAWN MINERALS INC. INTERSECTS 55.7 M GRADING 0.39G/T GOLD, 0.04% COPPER WITHIN BROAD GOLD-COPPER ZONE, GREENWOOD MINING DISTRICT, BC, CANADA
Golden Dawn Minerals Inc. has released excellent results from three additional diamond drill holes in the continuing drill program on the Wild Rose-Tam O'Shanter properties in the Greenwood mining district. Previously announced holes 10WR01 to 10WR03 were drilled at the Wild Rose property targeting the Wild Rose and Wild Cat vein zones, and were reported upon in a Golden Dawn news release in Stockwatch dated Jan. 12, 2011. As reported here, holes 10WR04 and 10WR05 are step-out drill holes that have targeted the northwest strike extent of the Wild Rose and Wild Cat vein zones as well as the wide, low-grade, bulk-tonnage gold-copper zone known as the Deadwood zone along strike to the northwest. Drill hole 10WR06 was drilled approximately 400 metres northwest of hole 10WR05 and the Wild Rose/Wild Cat vein zones, and targeted the Deadwood zone.
Holes 10WR04 and 10WR05 intersected narrow semi-massive sulphide and quartz vein zones that are likely the extension of the Wild Rose veins system and yielded grades of up to 5.38 grams per tonne (g/t) gold (Au) across 1.1 m core length (in hole 10WR04) and 1.85 g/t Au across 1.87 m core length (in hole 10WR05). Both holes were drilled northwest of any known mineralization associated with the Wild Rose and Wild Cat vein systems extending the Wild Rose vein system at least 40 m to the northwest. In addition to the higher-grade vein zones intersected in these two holes, both holes intersected wide low-grade mineralization with up to 0.32 g/t Au across 31.29 m core length (in hole 10WR04) that is likely part of the bulk-tonnage target Deadwood zone which is approximately 400 m along strike to the northwest. Summary results from holes 10WR04 and 10WR05 are presented in the attached table.
Hole 10WR06 has extended the known gold-copper mineralization associated with the Deadwood zone reported from historical drilling in the area and has confirmed the widespread nature of the mineralization as well as extending the higher-grade zone reported in historical hole 92-27 drilled in 1992. The intersection in 10WR06 lies within a target zone, the Deadwood zone, of about 200 metres in width and exceeding 2,000 metres in length. Mineralization in the latest hole, 10WR06, is predominantly hosted in an altered and brecciated diorite along with hornfelsed sediments and extends from the surface to a total depth of the hole at 182.88 m core length. Altered diorite with sulphide mineralization yields up to 0.19 g/t Au and 0.02 per cent copper (Cu) across 162.33 m core length in what appears to be porphyry-style Au-Cu mineralization. The main Deadwood zone yields up to 0.39 g/t Au and 0.04 per cent Cu across 55.7 m core length. The summary results for 10WR06 are also presented in the attached table. The summary results for the historical drill hole 92-27 are included for comparison.
Hole 10WR-06 was drilled approximately 40 m along strike to the northwest of historical hole 92-27, and confirms the presence and continuity of the bulk-tonnage Au-Cu Deadwood zone. The expanded drilling program, due to commence late January, is expected to continue testing this substantial zone.
SUMMARY ASSAY RESULTS FOR DRILL HOLES 10WR01 TO 10WR06
PLUS HISTORIC HOLE 92-27
Drill Zone From(m) To(m) Interval(m) Au(g/t) Ag(g/t) Cu %
hole
10WR04 Deadwood1 7.5 37.5 30.0 0.11 - 0.01
Deadwood2 58.83 90.12 31.29 0.32 0.01
Wild Rose 77.9 83.0 5.1 1.61 3.11 0.09
Includes 77.9 79.0 1.1 5.38 5.94 0.22
10WR05 Deadwood1 17.07 40.25 23.18 0.13 - 0.02
Deadwood2 64.18 98.0 33.82 0.15 - 0.03
Wild Rose 93.0 98.0 5.0 0.79 2.15 0.08
Includes 94.83 96.7 1.87 1.85 4.43 0.16
10WR06 Porphyry 7.32 169.65 162.33 0.19 - 0.02
Deadwood 88.5 144.2 55.7 0.39 - 0.04
Includes 99.0 144.2 45.2 0.43 - 0.04
Includes 99.0 102.0 3.0 1.60 72.9 0.03
Includes 141.6 144.2 1.90 3.01 3.10 0.16
Includes 142.36 142.75 0.39 11.86 3.60 0.07
10WR01* Deadwood 21.5 52.15 30.65 0.19 - 0.06
Wild Cat 28.95 31.5 2.55 1.47 2.5 0.62
10WR02* Deadwood1 4.27 26.0 21.73 0.17 - 0.01
Unknown 9.75 10.5 0.75 2.88 - 0.01
Deadwood2 43.0 61.0 18.0 0.98 - 0.03
Wild Cat 43.0 48.0 5.00 3.43 - 0.1
Includes 44.4 46.1 1.7 9.57 - 0.21
Includes 45.0 45.5 0.5 22.06 7.8 0.58
10WR03* Deadwood2 20.75 39.5 18.75 0.08 - 0.01
Wild Rose 35.66 38.4 2.74 0.21 - 0.04
92-27** Deadwood 86.48 163.98 77.5 0.74 - 0.04
Includes 100.82 163.98 63.16 0.85 - 0.05
Includes 100.82 136.45 35.63 1.25 - 0.07
Includes 115.3 115.45 0.15 134.2 - -
*Previously reported in Stockwatch, Jan. 12, 2011
**Historic diamond drill hole completed in 1992 by Minnova Inc.
It is most encouraging that drilling to date on the program has encountered significant gold-copper mineralization of widespread low-grade nature along with higher-grade vein material within the lower-grade halos. The reader is referred to the company's website for a PowerPoint and video presentation illustrating the historical drilling and the target zone for current drilling activity.
Phase 1 of the 16-hole program is expected to continue with the drilling of an additional 10 holes within next few days. The reader is cautioned that historical drilling results are being confirmed by current drilling, and such historical results cannot be relied upon until reconfirmed. There are no known mineral resources on the property, and there can be no assurance that any mineral resources will be discovered on the property , and if discovered, there is no assurance that any mineralization may be economically extracted.
The information in this release has been reviewed on behalf of the company by consultants Dr. Stewart A. Jackson, PGeol, and Mike Dufresne, MSc, PGeol, qualified persons. The program is being supervised by Mr. Dufresne of APEX Geosciences Ltd.