Vancouver, November 23, 2015 – Wolf Wiese, CEO of Golden Dawn Minerals Inc., (TSX-V: GOM; FRANKFURT: 3G8A) (the “Company” or “Golden Dawn”) reports that all six holes drilled to date have encountered projected mineralized targets.
The 1500-2000 metre exploration program continues at the Greenwood Precious Metal Project, located 5 km West of the City of Greenwood in South Central B.C. in the historic Boundary Mining District, 500 km East of Vancouver.
CLICK HERE TO VIEW VIDEO
A significantly mineralized intercept was obtained in Hole 6, which was drilled to locate the Main vein below the #6 and #7 Adits where the vein had been lost during previous underground development. Limited access due to rugged topography required drilling at a shallow angle to the vein, i.e. almost parallel to the dip of the vein. The hole penetrated argillite host rock containing 3 to 5% disseminated pyrite for 118.5 meters from casing, then intersected the target zone between 127.5 and 164.9 metres depth (37.4 metres core length). The target zone includes several quartz vein intervals (total length of 10.0 m) mineralized with sulphides including pyrite, sphalerite (Zinc) and galena (Lead), varying from abundant to semi-massive. This style of mineralization typically hosts high silver and gold values at this property. The mineralization in Hole 6 is essentially identical to that mined from the #6 Adit, where recent character sampling returned high precious metal values of 150 to 529 grams per tonne silver and 0.11 to 4.65 grams per tonne gold over true widths ranging from 0.35 to 0.7 metres (see news release dated October 21, 2015).
Hole 6 most significantly demonstrates that silver-gold mineralization similar to that historically mined from the #6 Level of the May-Mac Mine (Skomac/Main vein) extends down approximately 60 meters to and below the #7 level. The mineralized zone remains open at depth and along strike at and below the #7 Level. Due to loss of the vein in Adit #7 while drifting in 1992, work was stopped at that time, about 220 meters horizontally from the portal. ” Subject to assay results and completion of its current surface diamond drill program, the Company looks optimistically to advancing to bulk sampling from selected adits, later in 2016.”, stated Wolf Wiese, CEO of Golden Dawn.
Hole #6 is being extended to 300-350 meters depth to determine if the Lower vein in the #2 Adit continues parallel to the Upper vein, which was previously mined in the #4, 5 and 6 Adits. The hole is currently at 200 meters depth.
Hole 4 was drilled east of the #7 Adit to target the Upper vein and one or more parallel veins that outcrop above the #7 Adit. Three quartz veins were intersected between 19.9 and 25.9 metres depth. The first vein was 1.0 metres in length, the second 1.7 metres and the third 0.5 metres, for a total of 3.2 metres of vein over a length of 6.0 metres (all core lengths). The veins are banded with laminae of argillite host rock and contain minor iron sulphide (pyrite) mineralization. The argillite host rock between the quartz veins is also mineralized with small quartz veins and minor pyrite.
Hole 5 located west of the #6 Adit, targeted a parallel vein exposed in historic mine workings approximately 100 metres west of the Main (Skomac) vein in the #6 adit. This Western vein has never been tested in modern times. Hole 5 intersected a 0.2 metre long mineralized zone comprised of a banded quartz vein and quartz stockwork mineralized with iron and base-metal sulphides (pyrite, galena and sphalerite). This suite of minerals is typical of the better mineralized sections of the Main vein in the #6 Adit. Hole 5 demonstrates the Western vein is mineralized and continuous along strike. Additional drilling is planned for this new target.
As previously reported, the first 3 holes targeted the Lower vein in the vicinity of the historic May-Mac Mine #2 Adit. All three intersected between 1.3 and 5.4 metres of quartz vein and/or stock-work mineralized with lead and zinc sulphides locally in the veins, and iron sulphides in both veins and host rock.
The surface diamond drill program is continuing toward a total of between 1500-2000 meters, primarily on the May-Mac Mine, but also on targets delineated both historically and by recent sampling on the Amigo Adits #1, 2, and 3, located 1000 meters to the south of the Mill and the #7 Portal.
The reader is cautioned that the mineralized intervals reported in Hole 6 are much greater than the true width of the zone, due to the low angle of intersection. Also, this news release discusses visually observed mineralization only. Precious metal contents will be determined by assaying the drill core. Assay results are pending. Samples from Holes 1, 2, & 3 have been submitted for analysis and sampling is underway on Holes 4, 5, & 6.
Analyses are being performed by Met-Solve Analytical Services in Langley, B.C. Met-Solve is an independent commercial laboratory that is ISO 9001 certified and operates according to ISO 17025 standards. Analyses for gold were by Fire assay method using 50 gram samples using an ICP-AES finish. Silver and other elements were analyzed by ICP-AES using a four acid digestion. Results that were above the detection limit were re-analyzed for ore grade concentrations by ICP-AES (silver) and Sodium Peroxide Fusion – ICP AES (lead). Quality control is monitored using certified reference and blank material inserted into the sample sequence at regular intervals.
The technical disclosure in this news release has been reviewed and approved by Dr. Mathew Ball, P.Geo., a Qualified Person as defined by National Instrument 43-101.
For more details, please see the National Instrument 43-101 Technical Report on the Company’s website at www.goldendawnminerals.com.
On behalf of the Board of Directors:
GOLDEN DAWN MINERALS INC.
Chief Executive Officer
For further information, please contact:
THIS PRESS RELEASE WAS PREPARED BY MANAGEMENT WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS. NEITHER 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. 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.