by Greg Klein | December 13, 2016 | updated with revised assays January 17, 2017
A well-financed company working to bring new life to a cluster of past-producers 500 kilometres east of Vancouver, Golden Dawn Minerals TSXV:GOM released assays from former mines on December 13. The results come from the Amigo, Glory Hole, May Mac and Sylvester K sites, part of the mostly contiguous 16,000 hectares comprising the Greenwood project.
At May Mac, two of three surface holes from the same collar missed the Skomac vein system. But BF16-26, described as a “very significant 100-metre stepout hole along the northwesterly trend” of the vein system, showed these revised assays, which were released January 17:
- 133.6 g/t silver, 0.54 g/t gold, 3.6% lead and 1.5% zinc over 6.07 metres, starting at 177.47 metres in downhole depth
- (including 688 g/t silver, 1.18 g/t gold, 19% lead and 7% zinc over 0.96 metres)
True widths weren’t provided.
The results show that historically mined mineralization continues another 75 metres vertically, remaining open at depth and along strike to the northeast, Golden Dawn stated. The company plans further drilling in that direction early next year.
An underground percussion hole at May Mac’s #7 drift showed these highlights from two consecutive 1.2-metre samples of cutting sludge:
- 156 g/t silver, 3.04 g/t gold, 2.91% lead, 1.1% zinc and 0.33% copper
- 135 g/t silver, 7.95 g/t gold, 0.6% lead, 1.3% zinc and 0.08% copper
Cautioning that accuracy might be affected by material loss, Golden Dawn stated the results show substantial mineralization within five metres of the end of the #7 level.
That level also underwent nine diamond drill holes totalling 805 metres, with assays pending for eight. Hole MU16-01 was drilled horizontally from the end of the adit to determine the distance to the vein. One intercept showed:
- 131.3 g/t silver, 2.34 g/t gold, 0.59% lead and 0.42% zinc over 2.33 metres, starting at 17.45 metres
- (including 250 g/t silver, 4.96 g/t gold, 1.2% lead and 0.89% zinc over 1.1 metres)
One kilometre south of May Mac, the former Amigo and Glory Hole mines underwent a surface drill program of 16 holes totalling 904 metres to search out extensions of known veins. Highlights include:
- Hole BF16-10: 3 g/t silver and 1.04 g/t gold over 1.15 metres, starting at 41.31 metres in downhole depth
- BF16-11: 5.8 g/t silver and 6.12 g/t gold over 0.74 metres, starting at 19.26 metres
- BF16-15: 28 g/t silver and 0.98 g/t gold over 0.2 metres, starting at 5.5 metres
- BF16-17: 2.8 g/t silver and 1.3 g/t gold over 1.32 metres, starting at 44.94 metres
- BF16-18: 0.5 g/t silver and 1.13 g/t gold over 0.5 metres, starting at 14.5 metres
- BF16-18: 1.8 g/t silver and 1.37 g/t gold over 1.26 metres, starting at 36.57 metres
- BF16-24: 148 g/t silver over 0.25 metres, starting at 31.35 metres
Due diligence on a proposed property acquisition included seven channel samples at the Sylvester K past-producer, three kilometres from Golden Dawn’s mill. Six in a continuous line averaged 9.92 g/t gold over a true width of 15.2 metres.
Following the Christmas break, a program of 20 to 25 holes begins at the Greenwood project in mid-January. Permitting is in process to extract a 10,000-tonne bulk sample at May Mac adit #7, which would be processed at Golden Dawn’s mill, 15 kilometres from the former mine.
Last month the company closed a $1.18-million private placement, part of $3.97 million in private placements, $2.93 million in exercised warrants and US$2.4 million in long-term debt raised in 2016 that totals about $10.03 million.