Vancouver, October 1, 2015 – Wolf Wiese, CEO of Golden Dawn Minerals Inc., (TSX-V: GOM; FRANKFURT: 3G8N) (the “Company” or “Golden Dawn”) announces the following results for samples recently collected on the Greenwood Precious Metal Project.
Gold and silver analytical results are presented in the table below for a suite of reconnaissance samples collected from historic mine workings. The results show gold values of economic interest in veins and wall rocks in prospects situated peripheral to the upper May Mac mine area.
|Location||Description||Width (m)||Sample Number||Gold (ppm)||Silver (ppm)|
|May Mac Mine7 Level||Argillite Hangingwall||0.49||A2014151||<0.03||<1|
|May Mac Mine7 Level||Quartz Vein||0.43||A2014152||0.15||6|
|May Mac Mine7 Level||Argillite Footwall||0.40||A2014153||<0.03||1|
|Lower No 2 Adit||Quartz Vein||0.87||A2014154||12.97||34|
|Lower No 2 Adit||Argillite Footwall||0.35||A2014155||2.03||8|
|Glory Hole||Quartz Vein||0.60||A2014156||6.22||10|
|Glory Hole||Footwall Quartz Veined Zone||0.70||A2014157||0.18||2|
|Amigo No. 1 Vein||Quartz Vein||0.85||A2014158||0.27||2|
The mineralization on the Company’s property may be related to numerous epithermal precious metal deposits and mines in northern Washington State that occur in north-northeast–trending Eocene extensional basins. The Toroda Creek Graben is one of these features and extends into southern BC and through the 100% owned Greenwood Precious Metal Project. The mines, situated only 20-30 km south of the Greenwood Precious Metal Project, were developed mostly from historic mine workings in the last 25 years by Kinross Gold Corp and predecessors. Kinross recently optioned a significant land package contiguous to the company’s property in Greenwood B.C.
The Lower No. 2 adit was part of the first three underground mine levels developed on the property around 1900. It is recorded that 32 metric tons of material from these workings was shipped to the smelter in Greenwood in 1903/04, grading 319 grams per tonne gold (9.3 ounce/ton) (Technical Report by Ash, 2011). The samples reported above indicate significant gold grades in the main vein and the adjacent footwall rock (the hangingwall was not accessible for sampling).
The upper May Mac Mine was started in 1904 with development and mining intermittent until 1983. A total of 7 levels were developed and trial mining was conducted. Production from this property totalled 3574 tonnes, yielding 18.5 kilograms of gold, 693 kilograms of silver, 58 tonnes of lead, 36 tonnes of zinc and 864 kilograms of copper (BC Minfile: Skomac). The samples reported above are from the lowest level in an area that was not mined.
The Glory Hole and Amigo No. 1 Vein showings are located 1,000 meters south of the mill processing facility of the May Mac Mine in an area originally covered by claims dating back to 1896. The Glory Hole was developed prior to 1978 and exposes a vein and adjacent quartz veined zone mineralized with pyrite. The samples reported above indicate significant gold and silver content in the main vein. Values for barium (not shown in the table) are also elevated (2975-6165 ppm Ba) suggesting a possible epithermal geochemical signature. The Amigo No. 1 Vein adit was developed in 1975 and 1978 and exposes a well-defined quartz vein containing pyrite and parallel quartz stringers.
The sample results support the Company’s plan to proceed with drilling (as soon as an amended surface drill permit is received), with the No 2 level now identified as the primary target. The Company is also planning to conduct underground drilling and further mine development including trial mining.
The samples reported above were collected by Dr. Mathew Ball, P.Geo., during a site visit conducted last month. The samples were delivered to Met-Solve Analytical Services in Langley, B.C. by Dr. Ball. Met-Solve is part of the Sepro group of companies and 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 and ICP-AES finish. Ag and other elements were analyzed by ICP-AES using a four acid digestion. No field QA/QC samples were included due to the reconnaissance nature of the investigation but the laboratory QA/QC results as reported are within acceptable limits.
The technical disclosure in this news release has been reviewed and approved by Dr. Mathew Ball, P.Geo., who is a Qualified Person as defined by National Instrument 43-101.
For more details, please see the NI 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.