TSX:GPD
www.goldenpredator.com
VANCOUVER, July 26, 2011 /CNW/ - Golden Predator Corp. (News - Market indicators) (the "Company") is pleased to announce that it has commenced a planned minimum 1,500 m Diamond drill program at its previously undrilled Harlan Project located in the Selwyn Basin District, Yukon, Canada. The project area consists of 740 claims covering approximately 150 km2 lying approximately 90 km south of the Osiris discovery of Atac Resources Ltd. (TSXV: ATC), and presents at least two major drill-ready gold targets; the Vortex and West Porphyry Zones.
"I first saw field specimens from Harlan fifteen years ago while working for the Yukon Geological Survey, and have eagerly awaited the chance to set foot on the property," said Mike Burke, Chief Geologist. "My recent field visit to the property did not disappoint; the size and tenor of the alteration and mineralization of the system is reason for excitement about our upcoming drill program."
Harlan Project Geology
Two zones of mineralization are know to exist on the project area. The Vortex Zone consists of a northwest trending gold-bismuth-arsenic-antimony anomaly measuring 1,600 m by 700 m that averages over 500 ppb Gold in soils covering a zone consisting of fine disseminated pyrite and arsenopyrite within a silicified hydrothermal breccia. Grab samples taken within the Vortex Zone have returned values up to 6.5 g/t Gold. The Vortex Zone contains a 500 by 300 m core that is intensely brecciated and clay altered that averaged more than 1 g/t Gold with peak values up to 10.4 g/t Gold in soils.
The West Porphyry Zone consists of a series of east-southeast trending, steeply south-southwest dipping altered quartz monzonite dykes. Rock chip sampling returned values up to 0.86 g/t Gold over 20.8 m. Anomalous values to 1.26 g/t Gold were returned from dykes across 2.5 km2.
The project area is underlain by rocks of the Selwyn Basin that consist mainly of chert-pebble conglomerates of the Devono-Mississipian Earn Group. East-west striking thrust faults cross-cut the property placing the Earn Group rocks in contact with argillites of the Road River Group. Quartz-monzonite dykes tentatively assigned to the Cretaceous Tombstone Suite are also present on the property. Mineralization at the Vortex Zone consists of chalcedonic quartz veining, quartz-sulphide veining, hydrothermal brecciation and silicification within the chert-pebble conglomerates over a distance of more than a kilometre before being obscured under talus cover. At least three generations of quartz and quartz sulphide veining have been identified within the Zone. The West Porphyry zone is associated with a swarm of altered quartz-monzonite dykes intruding graphitic schists of the Road River Group.
The technical content of this news release has been reviewed and approved by Michael Maslowski, BSc, PGeo, the Company's Vice President, Exploration (Canada) and a Qualified Person as defined by National Instrument 43‐101.
About Golden Predator Corp.
Golden Predator Corp., a well-funded exploration and development company, has a mandate to be the leading gold property explorer and developer in Yukon, Canada. Golden Predator has a vast Yukon property position with three advanced gold projects, 6 pipeline prospects as well as exploration landholdings comprising over 4,000 km2. Drilling continues at the Company's flagship Brewery Creek project, as well as at its Grew Creek and Clear Creek projects. In 2011 Golden Predator will work towards completing initial resource estimates for Grew Creek and Clear Creek and updating the existing resource estimate for Brewery Creek.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance. There are numerous risks and uncertainties that could cause actual results and Golden Predator's plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, Golden Predator assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.
