VANCOUVER, British Columbia, Sept. 21, 2022 (GLOBE NEWSWIRE) -- Golden Dawn Minerals (TSXV:GOM) (OTCPink:GDMRD) (FSE:3G8C), has started a drill program at its Phoenix Property in the Greenwood Precious Metals project in southeastern, British Columbia. Golden Dawn, a near term gold producer, has an extensive land package, located east of Greenwood in southeastern, British Columbia
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In addition to the Phoenix and Golden Crown mines, these properties are extensively mineralized and cover 29 past producing mines and more than 70 mineral showings. The Phoenix 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 Kinross Gold Buckhorn mine 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.
Drilling is being done to test several large anomalies identified from last year’s airborne VTEM geophysical survey. Areas of high conductivity were selected as priority targets.
Magnetic anomalies extending from historically mined skarn copper-gold deposits were selected as secondary targets. The first area to be tested is in the middle of a large, 1 km diameter conductivity anomaly identified in the 2022 VTEM survey, located near the historic Phoenix mine. The resistivity-depth section indicates this anomaly is below 150 meters depth. Similar conductive anomalies located to the east and west are also selected for drilling.
The first site is situated near the Gilt Edge showing, where historic drilling hit zones of mineralization such as 18 metres grading 0.23% copper and 0.30 g/t gold in drill hole DDH GE-2 by Granby Mining Company Ltd. in 1968. In 1992, previous operators intersected 16.5 meters grading 0.50 g/t gold and 0.22% copper. In 2007, Kettle River Resources reported results for 10 surface samples that ranged from 0.18 to 6.06 g/t gold and from 0.12 to 0.99% copper. In 2017, Golden Dawn reported fine disseminations of chalcopyrite, pyrrhotite and pyrite in a micro-diorite intrusion over a length of approximately 15.0 metres. Five of eight chip samples returned significant results, with the average of these five samples being 0.18% copper and 0.87 g/t gold.
The second area of interest is in the northeast area of the Phoenix property, where potential for skarn-type mineralization is indicted by magnetic high anomalies that extend from areas of known mineralization. This area is named “Skarn Corridor” because it is a trend line of copper-gold deposits in skarn altered (calcium-silicate altered) Brooklyn limestone. Target sites have been selected to test a magnetic high that extends southward and is inferred to be a concealed intrusion that could be associated with skarn-related mineralization and/or precious metal vein mineralization.
Management cautions that historical records referred to have been examined but not verified by a Qualified Person and further work is required to verify that historical records referred to in are accurate.
The shares are trading at $0.055. For more information on these and the company’s other projects, please visit www.GoldenDawnMinerals.com, contact Christopher R. Anderson, CEO, at 604-221-8936 or email office@GoldenDawnMinerals.com.
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