Golden Dawn Minerals Inc. [GOM-TSXV] has begun to report assay results from sampling and drilling programs at five different locations on its 16,000-hectare Greenwood Project in the historic Greenwood Mining District of south-central British Columbia, Canada.
In late October, the company executed a letter of intent to acquire the substantial land package (14,000 hectares) from Kettle River Resources (KRR), which included several historic mines. As part of the ongoing due diligence on this acquisition, Golden Dawn recently took channel samples at the historic Sylvester K Mine, located just 3 km north of the company’s 200-400 t/d Greenwood processing facility. Six of the seven surface channel samples were collected in a continuous line across the width of a massive sulphide zone, discovering an average of 9.92 g/t gold over a true width of 15.2 m. That’s unmined high-grade gold over significant widths right at surface, i.e. potentially a relatively easy to mine feedstock for processing 3 km down the road at its Greenwood mill.
Underground drilling at the end of the #7 Adit of the historic May Mac Mine started with a fortunate surprise when, after less than 5 m of drilling, the highly mineralized Skomac Vein System was intersected with 3 g/t gold, 156 g/t silver, 2.9% lead, 1.1% zinc and 0.33% copper. In the following 1.2 m long interval, gold grades increased to 7.95 g/t.
If the historic miners had continued drifting into Level #7 just a few more metres, they might have been rewarded generously. This now marks a significant discovery for Golden Dawn as bulk sampling could start relatively fast.
Surface drilling at May Mac intersected high-grade zinc (4.9%) and lead (7.2%) mineralization with significant gold and silver credits. Surface drilling at the Amigo Tunnel #1 intersected 6 g/t gold over 0.75 m.
The full report can be seen at http://www.goldendawnminerals.com/golden-dawn-reports-partial-underground-surface-drill-results-3rd-qt-2016/