Golden Dawn Receives Drilling Permit on Phoenix Property, Airborne Survey to Confirm Additional Targets
VANCOUVER, BC / ACCESSWIRE / September 14, 2021 /Golden Dawn Minerals Inc., (TSXV: GOM) (FRANKFURT: 3G8C) (OTC PINK: GDMRF), (“Golden morning glow” or the “society“), announced that it has received final approval for its drilling plan on the Phoenix Property at the Greenwood Precious Metals project in southeast BC, which is expected to be completed in October.
Photo showing Minnie Moore vein outcrop and previous assay results
Phoenix’s multi-year zoning permit covers a total of 25 drill sites, 12 of which have been approved for this year. Several holes can be drilled from each of the locations, so the permit this year allows drilling of approximately 7,200 meters out of a total of up to 15,000 meters.
The Phoenix Property is extensively mineralized and includes 29 formerly producing mines and over 70 mineral occurrences. Targets for this year are in the northeast portion of the property and include the Minnie Moore and Summit epithermal gold and silver showings and nearby gold-copper-skarn deposits northeast of the historic Phoenix open-pit copper-gold mine.
Photo showing leaf-shaped calcite in epithermal gold-bearing veins of Summit.
The Minnie Moore Deposit is a silver-rich epithermal breccia dike in limestone. Sulphide levels are generally low but can exceed 5% that of pyrite, with less chalcopyrite, sphalerite, galena, tetrahedrite and ruby silver. Native gold was found in thin sections and in hand samples. In 2017, Golden Dawn reported a control sample result of 1700 g / t silver and 2.68 g / t gold over 1.0 meter for the Minnie Moore (October 18, 2017 press release).
The summit deposit is 75 m north of the main R. Bell Skarn deposit and historical mining sites. The summit is located in Brooklyn limestone and is made up of discontinuous quartz veins with high gold values. 1997 sampling results were reported as 30.2 g / t Au over 7.3 meters. In 2017, Golden Dawn reported a control sample result of 85.9 g / t gold over 0.4 meters from the summit (press release October 18, 2017).
The story goes on
The BC Mine is one of several skarn deposits found in the northeastern area of the Phoenix Property where drilling is planned. Historic production in the BC mine took place in 1900-1907, 1916-1918, 1938 when a total of 93,874 tonnes grading 0.3 g / t Au, 71.0 g / t Ag and 4.4% Cu were mined. The mineralization occurred as massive to semi-massive chalcopyrite lenses with minor pyrrhotite, pyrite and magnetite replacements in the Triassic Brooklyn Group, near the contact of the Sharpstone conglomerate to the west (Liege) and a narrow band of marble / limestone in the East (hanging wall). Associated skarn gangue minerals include garnet (most common), quartz, calcite, epidote, actinolite, and chlorite.
Historic BC mine (left) and example of copper-gold-skarn mineralization with malachite (right).
The Phoenix permit is the first of four permits being processed for Golden Dawn that is receiving final approval from the Department of Energy Mines and Low Carbon Innovation (EMLI). Three of the four (Phoenix, Golden Crown, and Lexington) are existing permits, while one (Tam O’Shanter) is a new application.
Map of the Greenwood Precious Metal Project areas.
Readers are cautioned that historical records referred to in this press release have been examined, but not verified, by a qualified person. Further work is required to verify that historical records referred to in this press release are accurate.
The technical information in this press release was prepared by Dr. Mathew Ball, P.Geo., Company President and Qualified Person under National Instrument 43-101.
For more details, see the latest National Instrument 43-101 Technical Report on the company’s website at www.goldendawnminerals.com.
On behalf of the board:
GOLDEN DAWN MINERALS INC.
Per: “Christopher R. Anderson” Christopher R. Anderson CEO
For more information please contact:
Golden Dawn Minerals Inc. – Corporate Communications:
Email: [email protected]
Notice Regarding Forward-Looking Statements: This press release contains certain “forward-looking statements” within the meaning of Canadian securities laws that include, among other things, preliminary plans for a consolidation of the company’s shares. While the company believes such statements are reasonable, it cannot guarantee that these expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; They are generally, but not always, represented by the words “expected”, “plan”, “anticipated”, “believes”, “intends”, “estimates”, “projects”, “aims”, “potential”, “target” “Identifies,” “objective”, “prospective” and similar expressions or that events or conditions “will”, “would”, “may”, “may”, “could” or “should” or are statements that, By their nature relate to future events, the company advises that forward-looking statements are based on the beliefs, estimates and opinions of the company’s management as of the date of publication and involve a number of risks and uncertainties, and consequently no guarantee can be given that Such statements prove to be correct and actual results and future events could differ materially from those anticipated in such statements except to the extent permitted by applicable securities laws and the policies of the TSX Venture Exchange, the company assumes no obligation to update these forward-looking statements if management’s belief, estimates, or opinions, or other factors, change. Among the factors that could cause future results to differ materially from those anticipated in these forward-looking statements include the possibility that the TSX Venture Exchange will not approve the proposed equity consolidation and that the company may not be able to raise sufficient additional capital to procure to his company. For a more complete discussion of these risk factors and their potential impact on the company’s reports, which are publicly available through the Canadian Securities Administrators’ System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com, we urge the reader to refer to are. This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor is any sale of Company securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including the Securities in the United States of America. The Company’s securities have not been and will not be registered under the United States Securities Act of 1933 (the “1933 Act”) or any state securities laws and may not be offered or sold in the United States or to or for the account or for the benefit of US Individuals (as defined in Regulation S of the 1933 Act) unless they are registered under the 1933 Act and applicable state securities laws or there is an exception to these registration requirements.
THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SALE OR AN OFFER TO BUY BUT A SALE OF THE COMPANY’S SECURITIES IN A JURISDICTION IN WHICH SUCH AN OFFER, A CALL, OR A SALE IS REQUIRED BEFORE REGISTRATION.
Neither the TSX Venture Exchange nor its regulator (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
SOURCE: Golden Dawn Minerals Inc.
View source version on accesswire.com: