🕐02.10.12 - 23:27 Uhr
GOLDEN DAWN UPDATE
Announcing...
Golden Dawn Update
GOLDEN DAWN MINERALS INC.
TSX-V: GOM
FRANKFURT EXCHANGE:
3G8N
NEWS RELEASE
GOLDEN DAWN MINERALS UPDATES EXPLORATION AND SAMPLING SCHEDULES FOR GREENWOOD
PROJECT WITH UNDERGROUND BULK SAMPLING ANTICIPATED AT THE MAY MAC AND WILDROSE
MINES 2012-2013
Vancouver, October 2, 2012 – Golden Dawn Minerals Inc.
(TSX-V: GOM; FRANKFURT:
3G8N) (the “Company” or “Golden Dawn”) is pleased to provide an outline of
activity anticipated in the next 18 months on the Greenwood Project, in the
Boundary Mining District, near Greenwood, British Columbia, Canada.
The program
will evaluate the potential for early gold and silver production and will focus
initially on the historic May Mac Mine and Wild Rose Mine located within the
Greenwood Precious Metal Project lands.
Preliminary work scheduled for the two
historic underground mines will consist of rehabilitation of the adits, detailed
underground mapping and sampling along with a program of underground drilling.
Based upon the results of this initial underground exploration program, a
program of bulk sampling of 10,000 tonnes of material from each mine will
follow.
Concurrent with the exploration and development work on the two mines, a
continued drilling program on the Deadwood Gold Zone will work toward increasing
the current inferred resource of 279,300 oz.
of gold (See Company News Release
dated July 13th, 2011).
Last fall, eight additional diamond drill holes were
completed at the Deadwood Gold Zone with all of the holes intersecting
mineralized zones containing gold, silver and copper (See Company News Releases
dated November 17th and 21st, 2011).
A new resource calculation is being
prepared and the 19.4 million tonnes grading 0.45 grams per tonne (g/t) gold
with a cutoff grade of 0.3 g/t is expected to increase substantially.
At the historic May Mac Mine, which has had prior high grade production of
silver, gold and base metals, in part direct shipped and in part milled through
the existing and permitted 130 ton per day (t/pd) mill and tailings facility on
the property, a program of approximately $600,000 is planned with underground
rehabilitation, underground mapping and sampling and underground drilling.
This
program is designed to define the potential of the historic May Mac Mine to
become a near term high-grade gold and silver producer.
A 10,000 tonne bulk
sample is planned to follow the exploration and rehabilitation program.
At the historic Wild Rose Mine area, located 2 km north of the May Mac Mine, on
the contiguous Wild Rose-Tam O’Shanter property, a $200,000 program of
exploration will be directed toward rehabilitation of the Wild Rose adit, along
with underground sampling and drilling.
The Wild Rose vein system has been
intersected by a number of diamond drill holes 1000 meters to the North,
North-West and North-East of the Portal of the Wild Rose adit.
Wild Rose type
veins have been identified in the Deadwood low grade bulk tonnage zone.
Following this initial phase of exploration, a 10,000 tonne bulk sample is
targeted to assess the potential mineable grade of the multiple quartz-sulphide
veins located in the Wild Rose Mine.
Following the above programs a decision will be made regarding rehabilitation of
the 130 t/pd May Mac mill and tailings pond facility to enable continuing
production from both mines and treatment of the production on site.
The Company anticipates retaining a Peruvian mining contractor to conduct the
rehabilitation and exploration work, and to continue production following
rehabilitation of the milling facility.
At the Deadwood Gold Zone a budgeted program of 4000 meters costing
approximately $1,000,000, will be directed toward expanding the currently
established inferred resource of 19.4 million tonnes containing 279,300 ounces
of gold.
The above work program is subject to a financing in the very near future.
Concentration of the Company’s efforts on the two mines discussed above has
resulted in a decision to abandon the Royal Attwood Property.
In view of market
conditions all efforts will be directed toward early production as a prime
objective.
Mr.
Michael Dufresne, P.Geol., a Qualified Person as defined by National
Instrument 43-101, has reviewed the contents of this release.
On behalf of the Board of Directors:
GOLDEN DAWN MINERALS INC.
“Wolf Wiese”
Wolf Wiese
President/ Chief Executive Officer
For further information, please contact:
Mike Poulin
Investor Relations
604-221-8936
[1]
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 COMPANYTO BE MATERIALLY
DIFFERENT FROM THE RESULTS, PERFORMANCE, OR ACHIEVEMENTS IMPLIED BY THESE
FORWARD LOOKING STATEMENTS.
WE SEEK SAFE HARBOR.
Golden Dawn Minerals Inc.
575-111 W.
Hastings St.
Vancouver, BC V6E 2J3
Ph: 604.221.8936
Fax: 604.685.2360
[2]www.goldendawnminerals.com
References
1.
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2.
http://www.goldendawnminerals.com/
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