As drilling continues, Golden Dawn Minerals TSXV:GOM released assays from Golden Crown, one of the projects included in the company’s plan to revive southern British Columbia’s historic Greenwood mining camp.
So far the current Golden Crown program has sunk 1,488 metres in 21 surface holes. Results show significant gold and copper in massive sulphide zones or veins and adjacent wall rock, with mineralization in the host rock diorite and serpentinite, Golden Dawn stated. “This style of mineralization was not previously recognized and was not systematically tested in the historic drill holes,” the company added.
Some highlights from the project’s King and Winnipeg zones show:
- - 3.53 g/t gold and 0.11% copper over 12.3 metres, starting at 9.24 metres in downhole depth
- - (including 7.66 g/t gold and 0.13% copper over 4.6 metres)
- - 5.14 g/t gold and 1.18% copper over 7 metres, starting at 14.65 metres
- - (including 12.27 g/t gold and 1.96% copper over 2.7 metres)
- - 12.6 g/t gold, 2.9 g/t silver and 0.26% copper over 0.56 metres, starting at 79.96 metres
- - 7.55 g/t gold 2.4 g/t silver and 0.23% copper over 0.7 metres, starting at 80.52 metres
True widths weren’t available.
Golden Dawn stated the initial results remain consistent with previously reported assays for the project. At a 3.5 g/t gold-equivalent cutoff, Golden Crown’s 2016 resource shows:
- - indicated: 163,000 tonnes averaging 11.09 g/t gold, 0.56% copper and 11.93 g/t gold-equivalent for 62,500 gold-equivalent ounces
- - inferred: 42,000 tonnes averaging 9.04 g/t gold, 0.43% copper and 9.68 g/t gold-equivalent for 13,100 gold-equivalent ounces
Plans call for infill drilling to upgrade the inferred category and for rehab of the historic underground workings prior to bulk sampling and trial mining expected for next year. Released in June, Greenwood’s PEA also recommended further mine planning, along with metallurgical, geotechnical and environmental studies for Golden Crown.
Meanwhile de-watering continues at the former Lexington mine, another focal point in Golden Dawn’s Greenwood portfolio. The company plans to begin wet commissioning of its Greenwood plant once trial mining begins. The Greenwood projects all sit within an approximately 15-kilometre radius of the company’s processing facility, with a 212-tpd capacity expandable to 400 tpd.
Two weeks ago Golden Dawn released high gold grades, along with silver and base metals results, from sampling on some more recently acquired properties in its regional portfolio.
The June PEA focused on the Golden Crown, Lexington and Mae Mac past-producers, along with the plant. With existing infrastructure, Golden Dawn hopes to put the projects back into production without de-risking at the feasibility level.
In September the company closed the final tranche of a private placement totalling $2.3 million.