by Greg Klein | February 24, 2017
Underground drilling delivered the highest silver and gold assays so far from the Skomac vein system at the former May Mac mine, Golden Dawn Minerals TSXV:GOM reported February 23. With noteworthy lead and zinc numbers as well, the results come from one of the past-producers the company intends to revive at its Greenwood portfolio in southern British Columbia. The assays reflect nine of this year’s 10 May Mac holes totalling 1,320 metres, while results are pending for the tenth hole. Along with nine holes sunk late last year and released in mid-January, the work currently totals 2,125 metres.
All 19 holes hit the Skomac vein system, showing mineralization continues along the principal vein from the #6 level, passing the #7 level. Parallel veins also revealed mineralization. Some highlights include:
- 235 g/t silver, 2.07 g/t gold, 0.8% lead, 1.4% zinc and 0.2% copper over 1.56 metres, starting at 32.05 metres in downhole depth
- 231.2 g/t silver, 0.51 g/t gold, 5.9% lead, 6.4% zinc and 0.3% copper over 1.92 metres, starting at 59.44 metres
- 177 g/t silver, 7.91 g/t gold, 0.5% lead, 0.4% zinc and 0.1% copper over 1.05 metres, starting at 32.67 metres
- 35.1 g/t silver, 6.32 g/t gold, 0.3% lead, 0.6% zinc and 0.1% copper over 1.36 metres, starting at 224.82 metres
- (including 79.5 g/t silver, 14.55 g/t gold, 0.6% lead, 0.3% zinc and 0.1% copper over 0.46 metres)
- 371 g/t silver, 8.86 g/t gold, 0.7% lead and 0.2% copper over 0.5 metres, starting at 62.7 metres
- 559.4 g/t silver, 1.27 g/t gold, 0.2% lead, 2.1% zinc and 0.1% copper over 2.06 metres, starting at 52.8 metres
- (including 1,935 g/t silver, 4.21 g/t gold, 0.7% lead, 7.1% zinc and 0.2% copper over 0.54 metres)
True widths weren’t available.
With more holes scheduled for this drill station, Golden Dawn plans additional underground work at two other drill stations. The company also has permitting underway to extend the #7 drift for drilling and bulk sampling up to 10,000 tonnes. Processing would take place at Golden Dawn’s Greenwood mill, 15 kilometres southeast.
Looking at another of the company’s Greenwood properties, Golden Dawn has applied for a surface drilling permit for its Golden Crown property, which has a 2016 resource estimating 62,500 gold-equivalent ounces indicated and 13,100 ounces inferred.
Other plans include field work on an acquisition of 29 former Greenwood mines that closed last week.
On February 24 the company announced closing of a US$1-million convertible security increase with Lind Asset Management VI. Earlier this month Golden Dawn reported receiving an initial US$3 million of a US$4-million streaming deal from RIVI Capital.
With an extensive portfolio of former mines proximal to its 200-tpd mill, Golden Dawn hopes to revive the historic Greenwood camp, about six hours’ drive east of Vancouver.