VANCOUVER, BC / ACCESSWIRE / January 13, 2022 / Golden Dawn Minerals Inc., (TSXV:GOM)(FRANKFURT:3G8C)(OTC PINK:GDMRD), ("Golden Dawn" or the "Company"), announces that its wholly owned subsidiary, Kettle River Resources Ltd. (Kettle River), is in the final stages of a drill permit for the Tam O'Shanter Property at the Greenwood Precious Metals project in southeastern BC.
Claim map for the Tam O' Shanter property located 3km west of Greenwood, BC.
Kettle River recently received a request from the BC Ministry of Energy, Mines and Low Carbon Innovation (EMLI) for a security bond in the amount of $20,000 for the Tam O'Shanter drill permit The Company anticipates this permit will be in place for the start of the 2022 season. The Tam O'Shanter Multi-Year Area Based permit is for a total of 23 drill sites. Multiple holes can be drilled from each of the sites, so the permit allows for a total of at least 10,350 metres.
The Tam O'Shanter Property covers four areas of mineralization of which two are most significant: the Deadwood Zone and the Bengal Zone. An Inferred Mineral Resource was estimated for the Deadwood Zone at 874,000 tonnes grading 0.66 grams per tonne gold (see PEA Technical report by P&E Mining Consultants Inc., effective date May 5, 2017 and filed on SEDAR).
The Deadwood Zone is comprised of a wide zone of intense shearing and silicification encompassing three or more quartz veins. A total of 50 drill holes have been drilled to date on the property, focussed on the Deadwood Zone. Golden Dawn previously completed 2 drilling campaigns in 2010 and 2011. The mineralized zone has been defined over a strike length of approximately 500m and to a depth of 400m.
The Bengal Zone is an epithermal gold target comprised of a large zone of epithermal silica flooding, hydrothermal brecciation and widespread alteration within Eocene sedimentary rocks. Only three holes were drilled historically to test the Bengal Zone and although gold and silver results were low, elevated gold values up to 2 grams per tonne gold occur in older rocks to the east that exhibit similar silicification and chalcedonic veining.
Other areas of interest include the Tam O'Shanter and Iva Lenore showings, which consist of disseminated pyrite and chalcopyrite mineralization in diorite and adjacent Knob Hill greenstone.
Initial drilling is planned to test Au-Cu soil anomalies associated with dioritic intrusive rocks, and around historic workings at the Bengal showing where there is an historic IP chargeability anomaly. Drilling is also being planned to expand the Inferred Mineral Resource along strike and at depth, and to test for parallel zones. Further property-wide exploration will benefit from the results of the airborne VTEM survey completed in 2021.
Readers are cautioned that historical records referred to in this News Release have been examined but not verified by a Qualified Person. Further work is required to verify that historical records referred to in this News Release are accurate.
Technical disclosure in this news release has been approved by Dr. Mathew Ball, P.Geo., President of the Company and a Qualified Person as defined by National Instrument 43-101,
For more details, please see the most recent National Instrument 43-101 Technical Report on the Company's website at www.goldendawnminerals.com.
On behalf of the Board of Directors:
GOLDEN DAWN MINERALS INC.
Per: "Christopher R. Anderson"
Christopher R. Anderson CEO
For further information, please contact:
Golden Dawn Minerals Inc. - Corporate Communications: Tel: 604-488-3900
Email: [email protected]
Forward-Looking Statement Cautions: This news release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, relating to, among other things, preliminary plans for a consolidation of the Company's Shares. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective," "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include the possibility that the TSX Venture Exchange will not approve the proposed share consolidation, and that the Company may not be able to raise sufficient additional capital to continue its business. The reader is urged to refer to the Company's reports, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects. This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of securities of the Company in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The Company's securities have not been and will not be registered under the United States Securities Act of 1933 (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.
THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL, OR THE SOLICITATION OF AN OFFER TO BUY, NOR SHALL THERE BE ANY SALE OF SECURITIES OF THE COMPANY IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
SOURCE: Golden Dawn Minerals Inc.