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Golden Dawn Minerals Inc.
Summary
| Project: | Greenwood | |
|---|---|---|
| Deposit: | May-Mac | |
| Location: | Canada | |
| Commodities: | Gold-Silver-Copper-Lead-Zinc | |
| Date: | 4/24/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 24-4-2017: Golden Dawn Minerals Inc. announces a Resource Estimation report for its May-Mac deposit at the Greenwood project. Clarification of Exploration Target Range for May Mac Mine. Golden Dawn Minerals Inc. (TSX-V: GOM; FRANKFURT: 3G8A; OTC: GDMRF) ( | |
| Resources: | Exploration Target: 200-600kt @ 1.5-5.9g/t Au, 100-400g/t Ag at May Mac | |
| CP/QP: | [Overall Report]: Mathew Ball (Internal) | |
| ABSTRACT: | Golden Dawn Minerals Inc. (TSX-V: GOM; FRANKFURT: 3G8A; OTC: GDMRF) (the “Company” or “Golden Dawn”) states that as a result of a review by the British Columbia Securities Commission, the Company is issuing the following news release clarifying its disclosure in its March 15, 2017 news release (the News Release). In the News Release, the Company presented milestones for 2017 which added an exploration target to mineral resources which is restricted by s.2.3 of National Instrument 43-101 (“NI43- 101”) and could be potentially misleading. As such, the Company wishes to retract this milestone. Additionally, the News Release disclosed metal equivalent grades for resource estimates that did not include the individual grade of each metal used to establish the metal equivalent grade and disclosed mineral resources that do not comply with sections 2.2(b) and 3.4(b) of NI43-101. The Lexington and Golden Crown exploration targets are defined on the basis of individual upand down-dip targets situated adjacent to open ended portions of the deposit and grades that reflect the nearest drill intercept. The May Mac target is based on the potential for discovery in the interval between No. 6 Level and the lower intercept in hole BF15-06. The area is about 200 metres in strike length and 260 metres in vertical height. Considering the dip of the vein, the vertical distance equates to about 340 meters along the inclination of the vein. The vein could also possibly extend another 450 metres to the northwest to the Greyhound Creek Fault for a total possible strike length of 650 metres. An exploration target of between 200,000 and 600,000 tonnes can therefore be envisioned based on a percentage of the strike and dip extensions being economically mineralized. The average grades, based on historic results, are 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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