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Golden Dawn Minerals Inc.
Summary
| Project: | Greenwood | |
|---|---|---|
| Deposit: | May-Mac | |
| Location: | Canada | |
| Commodities: | Gold-Silver-Copper-Lead-Zinc | |
| Date: | 3/15/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 15-3-2017: Golden Dawn Minerals Inc. announces a Resource Estimation report for its May-Mac deposit at the Greenwood project. Exploration Target for May Mac Mine based on historic results. Golden Dawn Minerals Inc., (TSX-V: GOM; FRANKFURT: 3G8A; OTC: GDMR | |
| Resources: | Exploration Target: 500,000oz Au at Greenwood | |
| CP/QP: | [Overall Report]: Mathew Ball (Internal) | |
| ABSTRACT: | Golden Dawn Minerals Inc., (TSX-V: GOM; FRANKFURT: 3G8A; OTC: GDMRF) (the “Company” or “Golden Dawn”) announces initial metallurgical results from an on-going laboratory test program relating to its 100% owned May Mac Mine. The Company has received the final tranche of USD $1 million (CDN $1,342,000) from RIVI Capital LLC for the Gold Purchase Agreement previously announced Feb 9, 2017. The aim is to delineate combined mineral resources containing 500,000 oz Gold equivalent in the Lexington, Golden Crown and May Mac Mines. This is based on adding to the current inventory of Measured and Indicated resources at Lexington and Golden Crown that total 158,800 oz gold equivalent and inferred resources estimated at 15,400 oz gold equivalent, as documented in the N.I. 43-101 technical report (signing date April 08, 2016). Potential additions are based on exploration targets defined at the Lexington, Golden Crown and May Mac Mines. The Lexington and Golden Crown exploration targets were documented in the 2007 Technical Report on the Greenwood Gold Project by Merit Mining Corp. (signing date May 22, 2007). The Lexington exploration target was estimated at 155-190,000 tonnes grading 7.5-9.0 g/t Au and 1.2-1.5% Cu. The Golden Crown target was estimated to be 65,000-80,000 tonnes grading 8.0-10.0 grams Au per tonne and 0.4-0.5 per cent copper. These estimates were made on the basis of individual upand down-dip targets situated adjacent to open ended portions of the deposit, assuming they have plan view dimensions of 20 x 20 m and grades that reflect their nearest drill intercept. At the May Mac Mine, an exploration target is estimated on the basis of potential strike and dip extensions of 650 and 340 metres, and averages grades, based on historic results, of between 100 and 400 g/t Ag, 1.5 to 5.9 g/t Au, 0.7 to 3.0% Pb and 0.3 to 1.9% Zn. | |
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