3 Aces reveals possible trump card

Vancouver-based explorer Golden Predator Mining says it has discovered an important new style of disseminated gold mineralisation at 3 Aces in Canada’s south-east Yukon Territory.

Staff Reporter
On site at 3 Aces in Canada’s south-east Yukon Territory

On site at 3 Aces in Canada’s south-east Yukon Territory

The company said the Sprogge area discovery represented a potentially large gold-bearing intrusive system not previously encountered at 3 Aces.

The company has drilled 2,169m over 27 diamond holes within 1.4km-by-1km of the Sprogge area to test gold and arsenic soil geochemical anomalies.

Importantly, the new discovery's mineralisation differs from the previously defined structurally controlled orogenic-style high-grade veins encountered in the Central Core Zone area of the 3 Aces project.

The intrusive-hosted mineralisation is said to be entirely in felsic dikes and appears to be significantly younger than the orogenic mineralisation found elsewhere on the property.

Hole 3A18-335 intercepted 16.86m of 1.35g/t gold from a depth of 16.2m, including 1.38m of 8.34g/t and 0.8m of 7.29g/t gold. A second hole, 3A18-346, confirmed the intrusive hosted mineralisation, the company reported.

Golden Predator chairman William Sheriff said the original objective for the Sprogge drilling was to find a continuation of the structurally-controlled Central Core Zone beneath the large geochemical anomaly.

"We now feel confident that Sprogge is much higher in the stratigraphy than the Central Core Zone and the potential for the high-grade orogenic deposit lies below. The intrusive-hosted gold mineralisation explains the broad gold-in-soil anomaly on the southern half of the Sprogge Area."

Sheriff said a comparison of the shallow intercepts with the surface exposure clearly showed the dikes widened significantly with depth, indicating the size potential for which these intrusive systems were known.

The intrusion appeared to be similar in age to a number of gold-bearing intrusive related systems in the Yukon, including the company's 100%-owned Brewery Creek deposit which was mined from 1996 to 2002, the company said.

Golden Predator had also drilled 2,603m over eight holes in the Central Core area, which targeted the down dip projection of the Hearts Zone. Drill holes were widely spaced along about 250m of strike with the deepest intercept reaching about 500m down dip from the outcrop of the discovery vein. Results of this programme were expected in January, the company said.

Golden Predator shares (TSXV:GPY) have dropped nearly 62% over the past 12 months but gained 2% Monday to close at C26.5c, having last peaked at 87c in December 2017. The company had a market value of $35 million.


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