VANCOUVER, Canada, September 30, 2020, Golden Dawn Minerals Inc., (TSX-V: GOM | FRANKFURT: 3G8C | OTC Pink: GDMRD), (“Golden Dawn” or the “Company”), announces that it is about to start exploration work at its Golden Crown property in the Greenwood mining district of southeastern British Columbia.
Golden Dawn is about to kick-off its 2020 exploration program with trenching on its Golden Crown property. Approximately 2,000 metres of exploration trenching is planned for the Golden Crown and JD areas this season. This work is aimed at extending the Golden Crown deposit and discovery of new gold zones to add to the existing Golden Crown deposit.
Aeromagnetic map showing 3.5 km trend between Golden Crown and JD areas.
The Golden Crown resource is estimated at 163,000 tonnes Indicated Resources grading 11.09 grams per tonne gold and 0.56 percent copper and Inferred Resources of 42,000 tonnes grading 9.04 grams per tonne gold and 0.63 percent copper (see “Updated Preliminary Economic Assessment on the Greenwood Precious Metals Project, Greenwood, British Columbia, Canada, P&E Mining Consultants Inc., Effective Date: May 5, 2017”, filed on SEDAR June 19 2017).
The heart of the Golden Crown deposit is a vein system consisting of 17 discrete massive sulfide and quartz-sulfide veins within an area 130 by 800 m. The JD area lies northwest of the known Golden Crown deposit along a 3.5 km long corridor of steeply dipping veins defined by historic drill hole intercepts, trenches, gold soil geochemical anomalies and geophysical (“VLF”) anomalies (see figure above). These features indicate excellent potential for discovery of new gold bearing zones in the underexplored gap between the JD and Golden Crown.
The 2020 trenching program will test the historic JD mine area and along the corridor of anomalies, where sulphide-quartz veins of similar composition and orientation to those at the Golden Crown deposit were previously identified. Rock chip sampling at the JD area by Golden Dawn in 2017 returned values ranging up to5.87 g/t gold over 4.0 metres (see photo below).
Photo of historic JD mine workings
The Golden Crown property also lies 3 km 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. Permits are in place for the Greenwood Processing Plant and Lexington Mine, with operations pending upgrades and refurbishment of the plant and mine. The Greenwood Precious Metals Project covers approximately 15,400 hectares within which are numerous mineralized zones and 34 historic mines including the large-scale historic Phoenix copper-gold mine. Geologically, the project is situated within an area of tectonic extension defined by the Republic and Toroda Grabens, which extend from south of the 49thparallel in the USA where they are associated with major gold deposits in the prolific Republic Mining District.
Assays reported above were from samples collected under the supervision of Dr. Mathew Ball, P.Geo. and delivered to Activation Laboratories (Act-Labs) in Kamloops, B.C. Activation Laboratories (Act-Labs) is an independent commercial laboratory that is ISO 9001 certified and ISO 17025 accredited. Analyses for gold were by the fire assay method using 30 gram samples with an AA finish. Fire assay gravimetric analyses were carried out on initial gold analytical results in excess of 30000 ppb gold. Silver and other elements were analyzed by ICP-OES using an aqua regia digestion. Copper results above 1% were re-analyzed by peroxide fusion. Results above 100 g/t silver were re-analyzed in duplicate for ore grade concentrations by the Fire Assay gravimetric method using a 30 gram sample. Quality control was monitored using reference and blank samples inserted into the sample sequence at intervals.
Technical disclosure in this news release has been approved by Dr. Mathew Ball, P.Geo., President of the Company and a Qualified Person as defined by National Instrument 43-101,
For more details, please see the most recent National Instrument 43-101 Technical Report on the Company’s website at www.goldendawnminerals.com
