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3 Aces high for Golden Predator

Golden Predator Mining (CN:GPY) has reported the highest gold assays to date from grade control drilling at its 3 Aces project in Canada’s Yukon as it moves to design future bulk sampling and prepare for resource delineation drilling.
3 Aces high for Golden Predator 3 Aces high for Golden Predator 3 Aces high for Golden Predator 3 Aces high for Golden Predator 3 Aces high for Golden Predator

Drilling at 3 Aces

Staff reporter

Near-surface highlights included 4.57m at 81.35g/t gold from 0.76m depth; and 0.76m grading 550g/t, within 13.72m at 43.02g/t from 1.52m.

"We are extremely pleased with these drill results, which met and exceeded predicted grades, clearly establishing the value of closely spaced drilling," CEO Janet Lee-Sheriff said.

The drilling was completed in three areas now considered to be part of the larger central Spades Zone, where bulk sampling will start mid-year and be processed at the company's 40 tonne per day gravity processing plant.

The company is understood to be building the project's "curb appeal" to eventually solicit a buyout from a larger company and poured a 744 ounce gold doré bar in September as part of metallurgical testing under that strategy.

It has based its exploration strategy on models developed for orogenic gold deposits and Lee-Sheriff said the company would continue to grid drill and bulk sample other areas where high-grade mineralisation had been identified across the project.

The company also plans to use the exploration model on the adjacent Sprogge claims it acquired in November from Alexco Exploration Canada and Newmont Canada.

Golden Predator had working capital of C$6.98 million at the end of September.

Shares in the company rose 3.8% yesterday to C82c, taking it above the 75c-level of 12 months ago but well below the 52-week high of $2.05 reached in February.

Most read Exploration / Development

Most read Exploration / Development