Golden Dawn Minerals Inc.

Published : March 26th, 2015

Golden Dawn Minerals Inc. Purchases 100% of Amigo Property, Greenwood, B.C., Canada

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment
Keywords :   Canada | Gold | Report |

Golden Dawn Minerals Inc. Purchases 100% of Amigo Property, Greenwood, B.C., Canada

VANCOUVER, BC / ACCESSWIRE / March 26, 2015 / Golden Dawn Minerals Inc. (TSX Venture: GOM) (3G8A.F) (the "Company" or "Golden Dawn") is pleased to announce the purchase of 100% of the Amigo Property consisting of 6 B.C. mineral claims (for a total of approximately 300 acres) that are contiguous to the south of the Company's Boundary Falls mineral claims containing the historic May Mac Mine and processing facility. The Amigo Property and the May Mac Mill are located adjacent to Highway #3 approximately 3 km west of Greenwood, B.C.

To complete the transaction Golden Dawn will issue 200,000 shares of the Company's stock and pay $10,000 in cash to the current Property owner. There are no work commitments associated with this agreement. The Amigo Property compliments the Company's Boundary Falls Property, and has three historic adits located approximately 1 km topographically below the Company's 100% owned historic May Mac Mine and the existing associated mill and tailings pond. This transaction is subject to TSX-V approval.

A Geochemical survey and an Induced Polarization Geophysical survey were conducted on these claims in 2011 by Geotronics Consulting Ltd. of Vancouver, B.C.. The Company intends to conduct further surface exploration as well as underground drilling and sampling to define potential additional mill feed for its May Mac processing facility. As reviewed in a recent Company news release (GOM News Release dated March 6, 2015), the Company is actively negotiating for and acquiring other prospects with easily accessible stockpiles or deposits of mineralized material within the Greenwood mining district as part of an ongoing program intended to identify potential mill feed for its May Mac processing facility. In most cases, these stockpiles and deposits are not of sufficient size to warrant stand-alone operations.

The following discussion of historic exploration conducted at the Amigo Property comes from a review of a historic summary report. The data is considered historic in nature and should be treated as such. Linda Caron, M.Sc., P.Eng., conducted a 5.5 day prospecting and rock sampling program in 2002 on the Amigo claims and the following information is quoted directly from the resulting summary report by Caron (dated July 4, 2002). Five main areas of interest were identified as a result of the work program. These targets are labelled as A to E on the accompanying map as described below and available on the Company's website.

"Target A: Lower Vein

The Lower Vein is a steeply dipping, northwest trending quartz vein which has been explored by 3 old adits (the No.1, No.2 and No.3 adits). Historical records show that 35 tonnes of ore at a grade of 318 g/t Au (9.3 oz/t Au) was mined from this vein in 1903-04. In 1987 a sample of mineralized argillite was collected from the footwall of the vein in the No.2 adit, and returned 2.41 oz/t Au over 0.5 feet. There is no record of any drilling on this vein.

The vein is a strong, massive white quartz vein with up to 10% sulfides, predominantly as small patches of massive pyrite. Where exposed at the portals of the old adits, the vein occurs at the contact of serpentine and argillite, and has an average width of about 0.75 metres.

The old adits may be safe to enter, although no effort was made to do so during this program. Three samples (9627 - 9629) were collected from vein material on the dumps of the adits, which returned anomalous values in Au (to 37,644 ppb Au in #9628) as well as Ag, Cu, Pb, As and Bi.

Target B: No.1 Vein and Other Nearby Quartz Veins

Numerous massive white quartz veins occur in the southern part of the property. These veins have variable, but generally low, sulfide contents. Sulfides are dominantly pyrite, with lesser galena and sphalerite. Most of these veins have been tested by small old workings. The bulk of this early work was completed on a northeast trending vein known as the No. 1 vein. Early historical records report that rotten surface ore with high gold assays (probably from this vein) was treated in a 2 stamp mill as early as 1894, but that once the ore became "base" the stamp mill was ineffective in recovering the gold.

The No. 1 vein is the only vein in this part of the property that is documented in more recent property reports and the only one which appears to have had recent (albeit limited) exploration. A 1978 surface sample over a 2' width is reported to have returned 0.114 oz/t Au, while sampling of the vein underground returned values to 0.42 oz/t Au over narrow widths. A single drill hole (circa1978) is documented from this vein, which intersected a 5' interval averaging 0.23 oz/t Au and 17 oz/t Ag.

The veins are steep to vertically dipping, but have a wide range of strikes. Several of the veins are hosted within a plug of Tertiary diorite while the remainder are in the older metasediments and amphibolite. Sixteen samples were collected from this portion of the property. Anomalous gold (with accompanying anomalous Ag, Pb, Zn, As, Bi, Sb, Co) occurred in several rock samples. Sample 9607, from the No. 1 vein, returned 41,967 ppb Au (approx. 42 g/t Au- assay pending). Other samples from the No. 1 vein returned lower, but anomalous gold values. Anomalous gold (to 1,887 ppb Au in #9619) occurred in a quartz vein some 300 metres to the northeast.

Target C: Glory Hole Vein

The Glory Hole vein is located just east of the open fields in the southwestern portion of the property, and just west of the prominent knoll of Tertiary diorite. An open cut/stope and several shallow pits test an irregular quartz vein with semi-massive pyrite at or near the contact of limestone with a mixed sequence of argillite and quartzite. There is very little information about previous work at the site. Two short (50 metre) drill holes are reported to have tested the zone in 1978, without encouragement. Rock sampling from the zone in the same year is reported to have returned values to 0.41 oz/t Au and 0.93 oz/t Ag over 4 feet.

The Glory Hole 'vein' is a series of narrow irregular quartz veins, 10-30 cm. in width, within a 2 metre wide, and strongly fractured fault zone. The fault zone trends 360°/700W'-80°E, and is exposed in several old workings over a strike length of about 60 metres. The fault zone appears to continue to the north, where it forms a prominent poplar filled gully which is marked by a strong EM response and is untested. To the south the zone trends into an area of glacial cover with no rock exposure and is similarly untested.

Four rock samples (9620 - 9623) were collected from the Glory Hole zone during the current program. Sample 9620 was a select grab of semi-massive pyrite (with lesser galena and sphalerite) in quartz from the dump of the open cut. This sample returned 68,979 ppb Au (approx 69 g/t Au - assay pending), along with 2,335 ppm Pb, 8,341 ppm Zn, 100.6 ppm Ag, and anomalous Mo, Co, As, Cd, Bi, Hg. The remaining rock samples collected from the zone returned lower, but anomalous, gold values, with a maximum of 4,644 ppb Au in Sample 9622.

Target D: Greyhound-Deadwood Fault Zone

Two major Tertiary structures are present in the western portion of the property. The Deadwood Ridge (Bodie Mtn.) fault forms a prominent northwest trending gully marking the eastern boundary of the Toroda Graben. The fault separates Eocene Marron volcanics to the south, from probable Permian Knob Hill Group chert pebble conglomerate and overlying chert to the north. A major, steeply dipping, north trending fault zone, the Greyhound Fault, postdates the Deadwood Ridge Fault. Rusty cliffs in the northwest comer of the property are related to these two faults (and related parallel structures).

A large area of rusty chert pebble conglomerate occurs north of the Deadwood Ridge fault and west of the Greyhound fault. Locally, the conglomerate is silicified, with small vugs filled with quartz druse and with up to 2% fine grained patchy pyrite. Sample 9626 was collected from an outcrop of this silicified chert pebble conglomerate in a large, open, grassy, moderately sloping meadow and returned 653 ppb Au, as well as anomalous As and Hg. There is no evidence or record of any previous exploration in this area.

Target E: Gold Soil Anomalies

Soil sampling was completed over a portion of the northern part of the claims in 1987. The extent of this geochemical survey is shown on the accompanying map. Soils were collected at 50 metre intervals on north-south trending lines spaced 100 metres apart and an area of anomalous gold in soils (with values to 230 ppb Au) was identified southeast of the Upper and Lower veins."

This News Release has been reviewed and verified by Michael Dufresne, M.Sc., P.Geol., P.Geo. of APEX Geoscience Ltd., a Qualified Person as defined by National Instrument 43-101.

On behalf of the Board of Directors:
GOLDEN DAWN MINERALS INC.

"Wolf Wiese"
Wolf Wiese
ChiefExecutive Officer

For further information, please contact:
Corporate Communications
604-221-8936
allinfo@goldendawnminerals.com

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.

SOURCE: Golden Dawn Minerals Inc.

Read the rest of the article at finance.yahoo.com
Data and Statistics for these countries : Canada | All
Gold and Silver Prices for these countries : Canada | All

Golden Dawn Minerals Inc.

EXPLORATION STAGE
CODE : GOM.V
ISIN : CA3808956070
CUSIP : 380895 10 2
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

Golden Dawn is a gold exploration company based in Canada.

Golden Dawn holds various exploration projects in Canada.

Its main exploration properties are TAM O'SHANTER, CENTRAL CATHARINE, 80 FOOT FALL, LINK-CATHARINE and WILD ROSE BC in Canada.

Golden Dawn is listed in Canada and in Germany. Its market capitalisation is CA$ 15.3 millions as of today (US$ 12.2 millions, € 10.7 millions).

Its stock quote reached its highest recent level on May 27, 2011 at CA$ 2.85, and its lowest recent point on October 17, 2014 at CA$ 0.01.

Golden Dawn has 101 870 000 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Financings of Golden Dawn Minerals Inc.
5/8/2013Announcing Proposed Private Placement
4/4/2013Private Placement of $66,810
1/8/2013Private Placement of $ 162,156
11/6/2012Closing of Private Placement of $140,500
Nominations of Golden Dawn Minerals Inc.
12/19/2013Results of AGM - Appointment of New Director
2/15/2011Announces New Appointment to Board
Project news of Golden Dawn Minerals Inc.
1/25/2016Golden Dawn reports final results of 2015 drilling at May-Ma...
12/11/2012Receives Updated Inferred Mineral Resource for Deadwood Gold...
1/25/2012Announces Exploration & Bulk Sampling Intentions on its Gree...
9/1/2011Announces Drilling Program on Boundary Falls
8/19/2011Announces Drilling Program on Wild Rose, Tam O'Shanter
8/4/2011and Nass Valley Gateway Announce NI 43-101
7/13/2011Receives Technical Report for NI 43-101
5/26/2011Receives Initial Mineral Resource Estimate
5/2/2011Renews Mine Evaluation at May Mac Mine
4/21/2011Schedules Resource Calculation
4/4/2011Intersects 127m Grading 0.43 g/t Gold
Corporate news of Golden Dawn Minerals Inc.
6/2/2016Golden Dawn Minerals Inc. Appoints New Executive Director & ...
5/12/2016Golden Dawn Drilling Intersects Gold And Silver Values Below...
4/25/2016Golden Dawn Completes Second Of Three Phases Of Huakan Green...
4/13/2016Golden Dawn Reports Positive Preliminary Economic Assessment...
4/13/2016Golden Dawn Signs Option Agreement With Huakan And Solicits ...
12/18/2015Closing of the Second Tranche of the Company’s Private Place...
12/18/2015Golden Dawn Minerals Inc.: Closing of the Second Tranche of ...
12/17/2015Golden Dawn Confirms Mineralized Zone Extends Below #6 And #...
11/23/2015IIROC Trading Resumption - GOM
11/23/2015Golden Dawn Drilling Intersects Mineralized Zone from #6 to ...
11/23/2015IIROC Trading Halt - GOM
10/22/2015Golden Dawn Minerals Inc. Assays Rock Channel Samples at 529...
10/15/2015GOLDEN DAWN MINERALS INC. STARTS DRILLING AT GREENWOOD PRECI...
10/14/2015Completion of the Financing for $268,147.40
10/13/2015Golden Dawn Minerals Inc.: Completion of the Financing for $...
10/1/2015GOLDEN DAWN MINERALS INC. SAMPLES 12.97 G/T GOLD OVER 0.87 M...
9/24/2015GOLDEN DAWN MINERALS INC. APPOINTS DR MATHEW BALL TO MANAGE ...
9/24/2015Golden Dawn Minerals Inc. Appoints Dr. Mathew Ball to Manage...
9/12/2015Golden Dawn Minerals Inc. Drops Tam O’Shanter Property
9/12/2015Golden Dawn Minerals Inc. Drops Tam O'Shanter Property
9/8/2015Golden Dawn Minerals Inc. Appoints a New German Director
9/2/2015Golden Dawn Minerals Inc. Upgrades Its Current Frankfurt Lis...
8/15/2015Completion of the Financing for $207,600
8/14/2015Golden Dawn Minerals Inc.: Completion of the Financing for $...
7/17/2015Golden Dawn Minerals Inc. Options Tam O'Shanter Property fro...
7/8/2015Golden Dawn Minerals Inc.: Completion of the Financing for $...
6/13/2015Closing of the First Tranche of the Company’s Non-Brokered P...
6/13/2015Golden Dawn Provides Update for Greenwood Exploration and Bu...
4/13/2015Golden Dawn Minerals Inc. Purchases 100% of Amigo Property, ...
4/13/2015Golden Dawn Minerals Inc. Granted Stock Options
4/2/2015Golden Dawn Minerals Inc. Granted Stock Options
3/26/2015Golden Dawn Minerals Inc. Purchases 100% of Amigo Property, ...
3/11/2015Closing of Private Placement
3/6/2015Company Update
2/5/2015Golden Dawn Announces Development Of Greenwood Project, Brit...
1/9/2015Final Tranche Closing of Private Placement
12/30/2014Closing the Private Placement of $ 65,250
10/28/2014Golden Dawn Announces Private Placement to Existing Sharehol...
4/17/2014Golden Dawn Drops Tam O' Shanter Property
4/4/2014Golden Dawn Announces the Resignation of Director
1/7/2014Announces Consolidation
6/12/2013News Release
3/14/2013Purchases the Boundary Falls Property Hosting the May Mac Mi...
1/29/2013Files National Instrument 43-101 Technical Report For Update...
12/11/2012News Release
10/2/2012News Release
10/2/2012s Exploration and Sampling Schedules for Greenwood Project W...
5/30/2012News Release
5/29/2012News Release
5/14/2012News Release
3/22/2012News Release
1/23/2012News Release
10/24/2011News Release
10/24/2011News Release
9/23/2011signs with Lichtfield
5/10/2011Schedules Drilling on Royal Attwood
5/9/2011s from Golden Dawn
5/9/2011SCHEDULES DRILLING OF MULTIPLE PRIORITY TITAN 24 GEOPHYSICAL...
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TSX-V (GOM.V)FRANKFURT (3G8.F)
0.150-25.00%0.029+0.00%
TSX-V
CA$ 0.150
01/14 15:50 -0.050
-25%
Prev close Open
0.200 0.180
Low High
0.180 0.200
Year l/h YTD var.
0.150 -  0.200 -6.25%
52 week l/h 52 week var.
0.105 -  0.300 15.38%
Volume 1 month var.
14,767 15.38%
24hGold TrendPower© : 25
Produces
Develops
Explores for Copper - Gold - Nickel - Platinum
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
Last updated on : 2/18/2010
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
202230.43%
2021-20.69%0.160.11
202026.09%0.200.04
2019228.57%0.380.03
2018-87.04%0.370.02
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 7.07+0.14%Trend Power :
Oceana Gold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.19-2.23%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.44+0.88%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 0.91-1.09%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.76-0.65%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.04+0.00%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 3.71+1.37%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 11.07+3.26%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.38-5.00%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.19-2.56%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 2.12+0.95%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 50.39+1.51%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.03-3.13%Trend Power :