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Golden Predator Intersects 12.45 gpt Gold over 4.88 m including
28.81 gpt Gold over 2.45 m from the AJ Vein at Antimony Mountain,
YT
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Vancouver, British Columbia, November 5, 2009: Golden Predator Royalty
& Development Corp. (TSX-V:GPD) (the "Company") is pleased to report
assays from the first four
Diamond drill holes completed this summer at
its Antimony Mountain Project in the Yukon Territory. A series of
short holes, drilled on the AJ target, intercepted an outcropping
tourmaline + sulphide vein where historic grab sampling returned up to
77.7 gpt gold (Logan Resources Ltd. NR dated Nov. 20, 2006). Drilling
by previous operators during the period 1966-1989 demonstrated vein
continuity with depth, and the current drilling was designed to
substantiate gold distribution over a well-defined vein strike length.
A total of 12
Diamond drill holes were drilled in a fan pattern from
two locations by the Company's wholly-owned Yukon subsidiary, True
North Mining Corp. The assays presented here are from the first four
of nine holes drilled on the southeast side of Cody Creek, where the
vein is exposed in both sides of the creek bank. Highlights from this
drilling include:
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Drill Highlights from the AJ Vein - Antimony Mountain Project, YT
Significant Intercepts greater than 1.0 gpt Au
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Drill Hole # From, m To, m Interval, m Au, gpt
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AH09-014 48.85 49.17 0.32 4.50
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AH09-014 66.79 68.85 2.06 3.29
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AJ09-015 45.89 48.50 2.61 2.02
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AJ09-015 52.20 53.30 1.10 1.32
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AJ09-015 77.49 78.63 1.14 1.86
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AJ09-016 50.41 51.41 1.00 1.83
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AJ09-016 67.55 68.55 1.00 5.48
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AJ09-017 62.71 63.20 0.49 5.55
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AJ09-017 70.70 75.58 4.88 12.45
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including 70.70 73.15 2.45 28.81
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including 71.15 72.53 1.38 32.78
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AJ09-017 90.42 90.73 0.31 9.24
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Each of the four drill holes reported yielded multiple intercepts of
veining with variable amounts of quartz, tourmaline, and sulphide
minerals consisting of arsenopyrite, pyrite, pyrrhotite and
chalcopyrite. Gold appears geochemically associated with arsenic,
bismuth, tellurium, and silver, (up to 27.8 gpt). The veins are hosted
by a sequence of bedded metaquartzite and metagreywacke which appear to
have been both contact metamorphosed and altered by a monzonitic stock
belonging to the Tombstone plutonic suite. Within these host rocks,
calc silicate hornfels and skarn are recognized in the drill holes, and
in places form the immediate wall rock to the veins. Copper, lead,
zinc, arsenic and silver are sporadically enriched outside of the veins
within the hornfels and skarn presenting a potential new exploration
target within the thermal aureole of the Tombstone monzonite.
The Antimony Mountain Project is located in the west-central Yukon
Territory approximately 65 km east of Dawson City and 25 km north of
the Company's Brewery Creek Project. The Project is underlain by
Proterozoic metasedimentary rocks of the Hyland Group including rusty
weathering gritty quartzite, sandstone, and greywacke with minor
interbeds of limestone, calcareous sandstone, shale, and slate. These
rocks are intruded by monzonitic rocks of the Antimony Mountain
intrusion which is similar to other mid-Cretaceous Tombstone Plutonic
Suite rocks associated with gold mineralization at Fort Knox and Pogo
in Alaska and in the Yukon at Dublin Gulch, Freegold Mountain and the
Company's projects at Brewery Creek and Gold Dome. The AJ Vein appears
as a banded quartz-tourmaline-arsenopyrite vein cutting meta-greywacke
and its exposure is located within approximately 200 m of a contact
with the Antimony Mountain intrusive.
Further information about the Antimony Mountain Project, as well as
information on the Company's other Yukon projects can be found in the
Company's news release dated September 28, 2009.
Quality Assurance - Quality Control
ACME Analytical Laboratories of Vancouver, B.C. performed all sample
preparation and analyses. Core samples were logged and sampled at the
Project site under the supervision of the Project Geologist and then
expedited in sealed bags to Whitehorse where they were shipped via
common carrier to Vancouver. After being received and logged in at the
laboratory, up to 2 kg of core was dried then crushed to 80% -10 mesh.
A 250 g split was then pulverized to 85% -200 mesh.
All samples were analyzed by ICP-MS after aqua regia digestion to yield
a 37 element scan using a 15 g charge. All samples yielding greater
than 500 ppb gold then underwent a 30 g fire assay with an ICP-ES
finish.
QA/QC procedures followed include submittal of assay standards for
analysis approximately every 30 samples as well as a blank and a
duplicate sample of quarter core at approximately the same frequency.
All assays are reported as drilled width and are not to be interpreted
as true widths. Dr. Art Ettlinger, P.Geo. & President of True North is
the Qualified Person for the above projects and is responsible for the
technical content of this news release.
About Golden Predator Royalty & Development Corp.
Golden Predator's corporate mandate is to establish a self-funded
precious metals exploration company with an immediate focus on
exploring for and developing world class gold deposits in the Yukon's
Tintina Gold Belt, where the Company is aggressively exploring its Gold
(Scheelite) Dome, Antimony Mountain and Brewery Creek Projects. Brewery
Creek, a former producer, hosts an indicated resource of 3.98 million
tonnes grading 1.135 gpt Au (145,000 ozs) and an inferred resource of
2.2 million tonnes grading 2.01 gpt Au (143,000 ozs) using a cutoff
grade of 0.5 gpt Au (Simpson, 2009).
The Company's Yukon operations are supported by four divisions: the
Royalty Division partially self-finances the Company's exploration
activities through its passive royalty stream, holding 29 properties.
The Advanced Assets Division includes the Taylor Mine and Mill which
hosts a 43-101 resource, as well as the Company's Alkalic Gold program
in Wyoming and the Lewis-Phoenix and Bonterra joint ventures. The
Nevada Division is drilling a number of its properties with
bonanza-style gold mineralization, including Angel's Camp, Adelaide and
Golden Ridge, to identify one or more targets for the near term
production of small-tonnage high grade ores. The Company intends,
through its strategic use of modular mills at its Taylor and Humboldt
mill sites, to become a mid-tier precious metals producer. The Non-Core
Assets Division is responsible for disposing of non-core properties.
For additional information:
Golden Predator Royalty & Development Corp.
William Sheriff, Chairman & CEO (604) 648-GOLD
John Legg, President (604) 648-4653
True North Mining Corp.Dr. Art Ettlinger, P.Geo, President,
867.335.GOLD (4653)
Neither TSX Venture Exchange nor the Investment Industry Regulatory
Organization of Canada accepts responsibility for the adequacy or
accuracy of this release.
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.
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Copyright (c) 2009 GOLDEN PREDATOR ROYALTY & DEVELOPMENT CORP. (GPD)
All rights reserved. For more information visit our website at
http://www.goldenpredator.com/ or send mailto:info@goldenpredator.com
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