Vancouver, British Columbia–(Newsfile Corp. – August 25, 2021) – Golden Dawn Minerals (TSXV: GOM) (OTC Pink: GDMRD) (FSE: 3G8C) initiates drill program at its Golden Dawn property. The Golden Crown property is part of the company’s extensive Greenwood Precious Metals Project in southeastern British Columbia, which covers approximately 15,400 hectares within which are numerous mineralized zones and 34 historic mines including the large-scale historic Phoenix copper-gold mine. The Golden Crown property lies 3 kilometers from the Greenwood Processing Plant and is included in the proposed mine plan outlined in the 2017 Preliminary Economic Analysis along with the Lexington Mine.
For more information, please view the InvestmentPitch Media “video” which provides additional information on the company. If this link is not enabled, please visit www.InvestmentPitch.com and enter “Golden Dawn” in the search box.
Drilling is expected to begin early September at the Golden Crown property, following a delay incurred while the company submitted a new Notice of Work to amend the existing permit for the use of existing non-status roads. A total of 26 drill sites, sufficient for 3,950 meters, are planned, commencing at the JD historic mine, where 10 priority drill sites are planned for close-spaced to follow-up previous results at the JD. The JD area is located 5 kilometres east of Greenwood and 2 kilometres south of the historic Phoenix Mine open pit.
In addition, 7 sites are also planned at the Golden Crown mine to in-fill and extend the known resources and 9 sites are planned to test various geophysical and geochemical anomalies. The area was previously exposed by trenching and drilling over a strike length of 375 meters and is interpreted to be the northwestern extension of the Golden Crown deposit, which lies 2 kilometers to the southeast.
Between 1986 and 1988, soil and rock geochemistry, geophysics, 26 trenches, 8 diamond drill holes and 10 reverse circulation drill holes were completed. A trenching program was also conducted in 2003 and 2004 that identified three zones of sulphide mineralization, including the Main, Footwall and Hangingwall zones.
The hangingwall zone, 50 metres to the north, was exposed over a total strike length of 200 metres. Both the hangingwall and main zones are composed of semi-massive to massive sulfides within northwest trending, moderately north-dipping shear zones. Massive magnetite was also exposed in one trench.
In 2017, Golden Dawn confirmed the gold grades in the 2003-4 trenches at the JD area by check sampling. Gold values ranged between 1.8 and 15.8 grams per tonne gold for 1 meter surface rock channel samples, with an average grade of 7.4 grams per tonne gold. Follow-up trenching conducted by Golden Dawn in 2020 at JD returned results as high as 23 grams per tonne gold.
The trend between the JD and the Golden Crown deposits and the northwest extension of the JD will also be explored. Other areas are also being permitted for drilling this year.
Approval for the Phoenix permit, covering approximately 7,200 meters at 12 drill sites is expected soon and an exploration permit for surface drilling at Lexington is also being updated.
About InvestmentPitch Media
InvestmentPitch Media leverages the power of video, which together with its extensive distribution, positions a company’s story ahead of the 1,000’s of companies seeking awareness and funding from the financial community. The company specializes in producing short videos based on significant news releases, research reports and other content of interest to investors.
Barry Morgan, CFO
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/94334
Powered by WPeMatico