Golden Dawn targets source of historic B.C. mine
Golden Dawn Minerals Inc. [GOM-TSXV, GDMRD-OTC PINK, 3G8C-Frankfurt] has completed a review and target selection based on the VTEM (versatile domain electromagnetic) geophysical survey of the Pheonix and Golden Crown properties at the Greenwood precious metals project in southeastern British Columbia.
“The Pheonix mine is one of the largest historic copper/gold producers in southern B.C.,” said Golden Dawn CEO Christopher Anderson. It produced 26.9 million tonnes of ore, containing 1.08 million ounces of gold, 6.77 million ounces of silver and 930,050 tonnes of copper.
The nearby Golden Crown mine consists of a series of gold-copper veins, where drilling to date has outlined an indicated resource of 62,500 gold equivalent (AuEq) ounces. On top of that is an inferred resource of 13,100 AuEq ounces.
“It [the Pheonix Mine] has never had VTEM modern technology deployed on it before,” Anderson said. “In similar situations in southern B.C., the technology has led to major new discoveries. The question has always been where is the feeder source for the Pheonix copper gold mine that historically produced a million ounces of gold and 5.9 million ounces of silver and over 235,000 tonnes of copper.”
Now that the project has been permitted for drilling, Golden Dawn aims to answer that question.
Golden Dawn recently completed a review of results from the helicopter-borne VTEM survey flown over the Pheonix and adjacent Golden Crown properties. The purpose was to identify conductive areas to target a major copper-gold skarn deposit and porphyry-type copper-gold deposit.
In addition to the Pheonix and Golden Crown mines, these properties are extensively mineralized, and cover 29 past-producing mines and more than 70 mineral showings. The Pheonix camp also lies within the northern extension of the Republic graben in northern Washington State, where several epithermal gold deposits and gold-skarn deposits have been developed.
The Buckhorn mine (Kinross) was the last to close in 2017 after producing approximately 1.3 million ounces of gold at an average grade of about 12 g/t gold between 2008 and 2017.
Golden Dawn said an exploration permit is currently in place for the Pheonix area that includes trenching and drilling from 25 drill sites. An exploration permit is also in place for the Golden Crown property which is located 1.0 kilometre south of the historic Pheonix open pit.
Multiple holes can be drilled from each site. So the current permits allow for up to 21,000 metres of drilling.
Golden Dawn recently outlined plans to initiate refurbishment of its mill near Greenwood. The purpose is for toll milling of material from surrounding mines.
The company said the process plant facility is a key component for potential production from surrounding precious metals deposits, including Golden Dawn’s Lexington and Golden Crown gold-copper mines as well as its Macy May gold-silver mine and Deadwood deposits.
On February 8, 2022, Golden Dawn shares closed at 15 cents and now trade in a 52-week range of 31 cents and 10.5 cents.