Vancouver, January 25, 2016 – Golden Dawn Minerals Inc., (TSX-V: GOM; FRANKFURT: 3G8A) (the “Company” or “Golden Dawn”) reports summary results from 2015 drilling on the Greenwood Precious Metal Project, 5 km West of the City of Greenwood, in the historic Boundary Mining District, South Central B.C., 500 km east of Vancouver.
Eight of the nine holes intersected their target zones and one hole intersected 2 zones including the previously mined Skomac vein and a new discovery, deeper than all previously known zones. A total of 1,041 metres was completed in 9 surface diamond drill holes. All holes were drilled in the May Mac mine area to test for extensions of veins.
The exploration program will resume in early 2016 initially with underground exploration initially and later surface drilling. Previously released initial results for holes 1 through 6 have been revised based on metallic screening analyses. Results for holes 8 and 9 are presented within the Table below which summarizes all significant intercepts from 2015 drilling.
* Denotes revised results based on metallic screening analyses for gold and silver.
– N/S: no significant result.
– core lengths above are greater than true thickness of zones; however, there is insufficient information to estimate true thickness.
Drill Holes BF15-01 and 02 targeted veins exposed in No. 1 and No 2 adits, the oldest part of the May Mac Mine workings, where significant gold and silver mineralization was produced historically. Additional drilling is planned to further explore this area to depth.
Drill hole BF15-06 intersected the main Skomac vein below the #7 Adit and proves that silver-gold mineralization similar to that historically mined from the #6 Level of the May Mac Mine (Skomac Vein) extends down approximately 60 meters to and below the #7 Level. This indicates Excellent potential for additional mineralization in the areas above and below the #7 Level.
Drill hole BF15-06, extended beyond the Skomac vein towards the projected strike extension of No. 1 and 2 adits, intersected a second mineralized quartz vein zone. This new zone lies 140 metres further northwest of the No 1 and No 2 adits and 150 metres deeper than the No. 7 adit. It is 90 metres vertically below the No. 1 adit. This demonstrates potential deeper than any previously known mineralized zone in the May Mac mine.
Elevated gold values are also present in the lower zone of hole 6 between 298.60 and 318.72 metres (20.1 metres core length, true width undetermined) with individual assays ranging from the detection limit to 2.49 grams per tonne gold over 0.7 metres. The average grade of this interval is 0.32 grams per tonne gold over 20.1 metres (incorporating results of re-analysis of selected samples by the metallic screening method).
Continuation of silver-gold mineralization to nearly double previously known depth is demonstrated by the new discovery in the lower intercept in hole BF15-06. Furthermore elevated copper and gold values in the lower intercepts may indicate a metal zonation from silver, lead, zinc in the upper zones to copper and gold at lower elevations. Such zonation is consistent with models of veins related porphyry systems with metals sourced from a mineralized intrusion at depth. It is postulated that the lower vein zone extends south westerly to the # 2 vein intercepted in D.H 15-1 and D.H.15-2..
The Company plans to resume work on the property in February with rehabilitation of the May-Mac #7 Adit and construction of underground diamond drill stations. Underground drilling will accurately locate the Skomac vein and test the mineralized zone at, above, and below the 7th level, and follow-up the lower intercept in hole 6. This work will identify locations for underground mine development and bulk sampling. Bulk samples will be processed at our existing mill complex..
Surface drilling will resume, weather permitting ,to test further extensions of the Skomac vein system located 1000 meters south of the May-Mac Mine , in and surrounding three historical adits
There is excellent potential for discovery of additional mineralized zones in multiple veins, and also potential for discovery of skarn and porphyry related mineralization in the environment of the May-Mac Mine/ Mill complex and the Amigo Mine located 1000 metres south of the mill.
Analytical results reported above are weight averages of assays from samples that were collected under the supervision of Dr. Mathew Ball, P.Geo. and delivered to Met-Solve Analytical Services in Langley, B.C. Met-Solve, an independent commercial laboratory, 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 above the upper limit for silver (above 200 g/t) were re-analyzed for ore grade concentrations by aqua regia digestion and AAS or ICP-AES finish. Selected higher grade samples were analyzed by the metallic sieve method for both gold and silver. Quality control was monitored using certified reference and blank samples inserted into the sample sequence at intervals.
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 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
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