VANCOUVER, BC–(Marketwired – April 26, 2017) – Golden Dawn Minerals Inc. (TSX VENTURE: GOM) (FRANKFURT: 3G8A) (OTC PINK: GDMRF) (the “Company” or “Golden Dawn“) announces results from underground drilling underway at its 100% owned May Mac mine.
A total of 3,834 metres have been drilled in 31 underground diamond drill holes completed since late 2016. Of this, 3,028 metres in 22 holes has been completed in 2017. All of the holes were drilled in the May Mac mine to test the mineralized Skomac vein and parallel veins. Significant results obtained for holes MU17-11 to 22 are reported in the table below, including one new result for hole MU17-10. Significant results up to hole MU17-10 were previously disclosed in a press release dated March 6, 2017 (updated Table 2 below). Significant results from surface drilling in 2016 (previously released) are included in Table 3 below.
| Table 1: Significant Intercepts from Underground Drill Holes MU17-10 to MU17-22 | ||||||||||||||||
| Hole No. | From(m) | To(m) | Length(m) | Ag(g/t) | Aug/t | Pb(%) | Zn(%) | Cu(%) | ||||||||
| MU17-10 | 272.86 | 273.17 | 0.31 | 56.9 | 0.00 | 1.9 | 0.4 | N/S | ||||||||
| MU17-12 | 30.93 | 31.39 | 0.46 | 335.0 | 7.53 | 0.2 | 0.5 | N/S | ||||||||
| MU17-14 | 7.40 | 7.84 | 0.44 | 1.4 | 1.19 | N/S | 0.1 | N/S | ||||||||
| MU17-14 | 65.97 | 67.5 | 1.53 | 49.0 | 1.63 | 0.1 | 0.6 | N/S | ||||||||
| MU17-14 | 89.96 | 90.60 | 0.64 | 77.5 | 0.58 | 0.1 | 0.6 | N/S | ||||||||
| MU17-14 | 105.92 | 108.49 | 2.57 | 252.6 | 0.93 | 9.9 | 4.3 | 0.1 | ||||||||
| Including | 107.20 | 108.49 | 1.29 | 494.5 | 1.21 | 19.6 | 8.0 | 0.1 | ||||||||
| MU17-14 | 129.00 | 129.56 | 0.56 | 49.5 | 12.55 | 1.4 | 2.0 | 0.1 | ||||||||
| MU17-14 | 141.43 | 143.06 | 1.63 | 5.7 | 3.28 | N/S | 0.1 | N/S | ||||||||
| MU17-14 | 149.45 | 150.00 | 0.55 | 11.6 | 2.65 | 0.1 | 0.3 | N/S | ||||||||
| MU17-15 | 13.00 | 13.41 | 0.41 | 18.0 | 1.26 | 0.3 | 0.6 | N/S | ||||||||
| MU17-16 | 70.76 | 74.47 | 3.71 | 246.0 | 2.69 | 1.3 | 0.9 | 0.1 | ||||||||
| Including | 72.00 | 72.35 | 0.35 | 472.0 | 4.42 | 11.3 | 4.7 | 0.1 | ||||||||
| and | 72.85 | 73.40 | 0.55 | 911.0 | 9.53 | 1.1 | 1.0 | 0.2 | ||||||||
| MU17-17 | 6.65 | 7.02 | 0.37 | 6.4 | 4.23 | 0.1 | 0.4 | 0.1 | ||||||||
| MU17-18 | 15.37 | 15.84 | 0.47 | 74.0 | 0.30 | 1.2 | 0.9 | 0.1 | ||||||||
| MU17-21 | 11.94 | 12.33 | 0.39 | 22.5 | 6.12 | 1.5 | 1.2 | 0.1 | ||||||||
| MU17-21 | 15.84 | 16.40 | 0.56 | 58.8 | 16.17 | 2.3 | 3.3 | 0.1 | ||||||||
| Including | 15.84 | 16.15 | 0.31 | 90.5 | 23.70 | 3.7 | 5.5 | 0.1 | ||||||||
Notes:
1) N/S: no significant result.
2) The widths of intervals reported above for the drill holes are core lengths, which may be different from true width. There is insufficient information at this time to accurately estimate the true width of the zones.
Holes MU17-10 to 13 were the last holes drilled from the 3rd drill station excavated on the #7 Level. Holes MU17-10 and MU17-11 tested the Skomac vein below #7 level and as well as the deeper Rose vein. Hole MU17-12 tested the Skomac vein between #6 and #7 Levels, and intersected an extension of a mineralized shoot originating around Level #6. MU17-13 was drilled to the west of the Skomac vein to test for parallel structures.
Holes MU17-14 to MU17-23 were drilled from the second drill station excavated on the No. 7 Level to test the Skomac and Rose vein structures along strike to the southeast of previous holes drilled from drill station #3 and below #7 Level. The higher grades intersected in hole MU17-16 correlate with up to 10-15% combined pyrite-sphalerite-galena mineralization in a banded quartz vein. Hole MU17-21 intersected quartz veinlets and stringers with semi-massive mixed sulphides.
The results received to date indicate that the Skomac Vein System is mineralized beyond, above and below the #7 adit, i.e. along strike and up and down dip. Significant silver-gold mineralization has now been identified approximately 70 meters to the northwest, 20 meters above, and up to 120 meters below the #7 adit.
View Figure 1: May Mac Mine Plan View @ http://www.goldendawnminerals.com/may-mac-drill-plan/
View Figure 2: May Mac Mine Section View @ http://www.goldendawnminerals.com/may-mac-drill-section/
| Table 2: Significant Intercepts from Underground Drilling in 2016 and 2017 | ||||||||||||||||
| Hole No. | From(m) | To(m) | Length(m) | Ag(g/t) | Aug/t | Pb(%) | Zn(%) | Cu(%) | ||||||||
| MU16-01 | 17.45 | 19.78 | 2.33 | 131.3 | 2.34 | 0.6 | 0.4 | 0.1 | ||||||||
| Including | 18.68 | 19.78 | 1.10 | 250.0 | 4.96 | 1.2 | 0.9 | 0.2 | ||||||||
| MU16-02 | 24.09 | 24.64 | 0.55 | 132.0 | 0.14 | 1.9 | 1.6 | 0.5 | ||||||||
| MU16-03 | 18.38 | 18.87 | 0.49 | 21.1 | 0.55 | N/S | 0.1 | N/S | ||||||||
| MU16-04 | 17.0 | 17.5 | 0.5 | 57.5 | 0.32 | 0.7 | 1.1 | 0.1 | ||||||||
| MU16-04 | 19.2 | 19.7 | 0.5 | 69.0 | 0.41 | 0.1 | 0.6 | N/S | ||||||||
| MU16-05 | 32.92 | 34.42 | 1.50 | 176.5 | 1.06 | 3.2 | 1.1 | 0.3 | ||||||||
| MU16-06 | 69.28 | 70.04 | 0.76 | 173.0 | 0.22 | 2.7 | 2.5 | 0.1 | ||||||||
| MU16-07 | 23.40 | 23.84 | 0.44 | 105.0 | 0.15 | 3.7 | 0.3 | N/S | ||||||||
| MU16-08 | 34.57 | 35.00 | 0.43 | 84.8 | 0.20 | 0.6 | 0.1 | N/S | ||||||||
| MU16-09 | 44.52 | 45.42 | 0.90 | 131.3 | 2.34 | 0.6 | 0.4 | N/S | ||||||||
| MU16-09 | 55.30 | 55.78 | 0.48 | 151.0 | 2.97 | 0.9 | 0.7 | 0.1 | ||||||||
| MU16-09 | 58.54 | 58.94 | 0.40 | 152.0 | 0.40 | 4.5 | 1.7 | 0.1 | ||||||||
| Table 2 (cont’d) | ||||||||||||||||
| Hole No. | From(m) | To(m) | Length(m) | Ag(g/t) | Aug/t | Pb(%) | Zn(%) | Cu(%) | ||||||||
| MU17-01 | 32.05 | 33.61 | 1.56 | 235.0 | 2.07 | 0.8 | 1.4 | 0.2 | ||||||||
| MU17-02 | 59.44 | 61.36 | 1.92 | 231.2 | 0.51 | 5.9 | 6.4 | 0.3 | ||||||||
| MU17-03 | 103.67 | 104.80 | 1.13 | 23.4 | 1.64 | 0.3 | 0.1 | N/S | ||||||||
| MU17-04 | 21.98 | 22.87 | 0.89 | 57.5 | 0.58 | 0.6 | 0.6 | 0.1 | ||||||||
| MU17-05 | 32.67 | 33.72 | 1.05 | 174.0 | 7.91 | 0.5 | 0.4 | 0.1 | ||||||||
| MU17-06 | 224.82 | 226.18 | 1.36 | 35.1 | 6.32 | 0.3 | 0.6 | 0.1 | ||||||||
| Including | 225.72 | 226.18 | 0.46 | 79.5 | 14.55 | 0.6 | 0.3 | 0.1 | ||||||||
| MU17-07 | 62.70 | 63.20 | 0.50 | 371.0 | 8.86 | 0.7 | N/S | 0.2 | ||||||||
| MU17-07 | 76.68 | 77.28 | 0.60 | 111.0 | 1.26 | 2.1 | 3.8 | 0.4 | ||||||||
| MU17-07 | 82.10 | 82.80 | 0.70 | 23.2 | 3.77 | 0.8 | 1.0 | N/S | ||||||||
| MU17-08 | 50.77 | 52.13 | 1.36 | 149.0 | 0.53 | 3.1 | 0.5 | 0.1 | ||||||||
| Including | 51.62 | 52.13 | 0.51 | 338.5 | 0.77 | 6.9 | 1.0 | 0.2 | ||||||||
| MU17-08 | 52.80 | 54.86 | 2.06 | 559.4 | 1.27 | 0.2 | 2.1 | 0.1 | ||||||||
| Including | 52.80 | 53.34 | 0.54 | 1935.0 | 4.21 | 0.7 | 7.1 | 0.2 | ||||||||
| MU17-09 | 188.71 | 190.07 | 1.36 | 2.0 | 2.61 | N/S | N/S | N/S | ||||||||
| MU17-10 | 188.82 | 194.07 | 5.25 | 81.1 | 0.06 | 2.1 | 0.6 | N/S | ||||||||
| Including | 188.82 | 191.48 | 2.70 | 121.4 | 0.07 | 3.5 | 1.0 | N/S | ||||||||
| MU17-10 | 195.78 | 196.78 | 1.00 | 86.0 | 0.01 | 5.3 | 1.6 | N/S | ||||||||
| MU17-10 | 211.60 | 212.80 | 1.20 | 174.3 | 8.20 | 3.7 | 2.6 | 0.1 | ||||||||
| Including | 211.60 | 212.10 | 0.5 | 228.0 | 19.65 | 8.8 | 6.2 | 0.2 | ||||||||
| MU17-10 | 218.37 | 219.87 | 1.50 | 98.0 | 0.01 | 0.5 | 0.9 | 0.1 | ||||||||
| MU17-10 | 221.89 | 223.86 | 1.97 | 18.33 | 3.11 | 1.2 | 3.5 | 0.1 | ||||||||
| MU17-10 | 226.40 | 227.72 | 1.32 | 37.5 | 6.76 | 1.4 | 2.2 | 0.1 | ||||||||
| Table 3: Significant Intercepts from 2016 Surface Drilling at May Mac | ||||||||||||||||
| Hole No. | From(m) | To(m) | Length(m) | Ag(g/t) | Aug/t | Pb(%) | Zn(%) | Cu(%) | ||||||||
| BF16-06 | 59.60 | 60.50 | 0.90 | 12.1 | 2.13 | 0.4 | >1.0 | N/S | ||||||||
| BF16-07 | 39.16 | 41.20 | 2.04 | 50.9 | 2.08 | >0.5 | 1.0 | 0.2 | ||||||||
| BF16-26 | 177.47 | 183.54 | 6.07 | 133.6 | 0.54 | 3.6 | 1.5 | N/S | ||||||||
| Including | 177.94 | 178.90 | 0.96 | 688.0 | 1.18 | 19.0 | 7.0 | N/S | ||||||||
Notes:
1) N/S: no significant result.
2) The widths of intervals reported above for the drill holes are core lengths, which may be different from true width. There is insufficient information at this time to accurately estimate the true width of the zones.
The Company is continuing its underground diamond drilling program at the May-Mac Mine to complete additional holes from drill station #2 before moving to drill from station #1. The purpose of this drilling is to explore the Skomac, Rose and West veins. This round of drilling is expected to be concluded in May.
Meanwhile, the Company is waiting on approval of its permit application for additional surface drilling to test the northwest strike extension of the May Mac mine. The drilling results so far indicate potential for additional mineralization along strike to the northwest for up to a kilometer on the Skomac and parallel structures. The Company also submitted additional information to support its permit application to extend the #7 Level to the northwest to facilitate additional diamond drilling, and is preparing additional information to support its application for bulk sampling of up to 10,000 tonnes. Metallurgical testing has been done on a composite sample of drill core from the mine, and further testing of the tailings product is now underway to support the processing of this material at the Company’s Greenwood Mill, located 15 km southeast of the May Mac Mine.
The Company is also waiting on approval of a surface exploration permit for diamond drilling (up to 10,000 metres) at the Golden Crown property, and is compiling data in preparation for surface investigations of the 70 showings including 29 historic mines of the Kettle River Resources Ltd. properties in the Greenwood camp.
Planning for de-watering of the Lexington mine has started. De-watering will be initiated once the snow pack has receded and surface installations are re-established.
Samples reported above were collected under the supervision of Dr. Mathew Ball, P.Geo. and delivered to Activation Laboratories (Act-Labs) in Kamloops, B.C. Act-Labs is an independent commercial laboratory that is ISO 9001 certified and ISO 17025 accredited. Analyses for gold were by the fire assay method using 30 gram samples with an ICP-OES finish. Duplicate gold analyses were performed on samples containing abundant visible sulphide mineralization. Silver and other elements were analyzed by ICP-OES using a near total, four acid digestion. Results above 100 g/t silver were re-analyzed in duplicate for ore grade concentrations by the Fire Assay method using a 30 gram sample. Samples containing significant visible lead and zinc mineralization were also analyzed by Peroxide Fusion assay for Pb, Zn and Cu. Quality control was monitored using reference and blank samples inserted into the sample sequence at intervals. Check analyses are being performed on selected samples.
A new technical N.I. 43-101 report to encompass all the Company’s properties and processing facility in the Greenwood mining camp has been commissioned, which is known as the “GREENWOOD PRECIOUS METALS PROJECT”. This report will include an updated PEA on the Lexington &Golden Crown Mines. P&E Mining Consultants are authoring the report and the company expects the first draft of the report by the first week of May. This report has been commissioned to support the company’s short form prospectus.
For detailed information: www.goldendawnminerals.com
On behalf of the Board of Directors:
GOLDEN DAWN MINERALS INC.
Wolf Wiese
Chief Executive Officer
THIS PRESS RELEASE WAS PREPARED BY MANAGEMENT WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS. NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. THIS DOCUMENT CONTAINS CERTAIN FORWARD LOOKING STATEMENTS WHICH INVOLVE KNOWN AND UNKNOWN RISKS, DELAYS, AND UNCERTAINTIES NOT UNDER THE COMPANY’S CONTROL WHICH MAY CAUSE ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS OF THE COMPANY TO BE MATERIALLY DIFFERENT FROM THE RESULTS, PERFORMANCE, OR ACHIEVEMENTS IMPLIED BY THESE FORWARD LOOKING STATEMENTS. WE SEEK SAFE HARBOR.
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