Golden Dawn Minerals Inc.

Published : January 25th, 2016

Golden Dawn reports final results of 2015 drilling at May-Mac mine and plans for 2016

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Keywords :   Copper | Diamond | Georgia | Gold | Lead | Silver | Target | Zinc |

Golden Dawn reports final results of 2015 drilling at May-Mac mine and plans for 2016

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.

Hole No. From

(m)

To

(m)

Length

(m)

Ag

(g/t)

Au

g/t

Pb

(%)

Zn

(%)

Cu

(%)

BF15-01 24.4 24.7 0.3 16.0 9.85 N/S N/S N/S
BF15-02 35.0 35.5 0.5 5.0 2.55 0.1 N/S N/S
BF15-06* 144.1 148.5 4.4 218.6 2.49 1.5 2.9 0.2
Including* 148.1 148.5 0.4 779.0 4.15 0.4 0.2 0.1
BF15-06* 288.3 290.6 2.3 152.0 0.36 1.9 1.9 1.2
Including* 289.1 289.7 0.6 377.0 0.81 0.6 1.1 2.9
BF15-06* 304.7 305.9 1.2 76.7 1.27 1.8 0.9 0.1
BF15-08 87.3 88.2 0.9 38.0 0.17 0.4 0.2 N/S
BF15-09 117.2 119.3 2.1 185.9 3.50 1.5 1.8 0.34

Notes:

* 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.

­­­­­­­­­'Wolf Wiese'______

­­­­Wolf Wiese

Chief Executive Officer

For further information, please contact:

Corporate Communications

604-221-8936

[email protected]

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.

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Data and Statistics for these countries : Georgia | All
Gold and Silver Prices for these countries : Georgia | All

Golden Dawn Minerals Inc.

EXPLORATION STAGE
CODE : GOM.V
ISIN : CA3808956070
CUSIP : 380895 10 2
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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.

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Financings of Golden Dawn Minerals Inc.
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1/8/2013Private Placement of $ 162,156
11/6/2012Closing of Private Placement of $140,500
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12/19/2013Results of AGM - Appointment of New Director
2/15/2011Announces New Appointment to Board
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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
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10/14/2015Completion of the Financing for $268,147.40
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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
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1/9/2015Final Tranche Closing of Private Placement
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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...
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3/22/2012News Release
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9/23/2011signs with Lichtfield
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5/9/2011s from Golden Dawn
5/9/2011SCHEDULES DRILLING OF MULTIPLE PRIORITY TITAN 24 GEOPHYSICAL...
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