Golden Predator stock jumps on Yukon gold intercepts
Golden Predator started Thursday off on a strong footing with a report of long gold-mineralized intercepts from the Grew Creek project in the Yukon that helped boost its shareprice.
Posted: Thursday , 23 Feb 2012
HALIFAX, NS (MINEWEB) -
Golden Predator (TSX-V: GPD) cut a series of long intercepts with strong gold mineralization in the Carlos zone of its Grew Creek project in the Yukon.
News of the drilling results lifted Golden Predator's shareprice up 20 percent to C$0.83 as of presstime.
Golden Predator highlighted six of a dozen drillholes that returned gold mineralization. The best intercept was 68 metres @ 5.96 g/t gold and 24.1 g/t silver from 32 metres downhole.
Others intercepts included 76 metres @ 1.97 g/t Au starting 24 metres below surface, 60 metres @ 1.86 g/t Au from 40 metres downhole and 24 metres @ 3.24 g/t from 216 metres.
Some of the best drilling results, from what appear to be vertically oriented drillholes, covered a 200-metre stretch near the centre of the Carlos mineralized zone, which from Golden Predator's descriptions looks to be about 350 metres long and 100 to 150 metres wide
William Sheriff, Golden Predator Chairman and CEO, commented on the drilling results in a prepared statement, saying the intercept grade and continuity "continues to exceed our expectations."
Golden Predator, which intercepted similar widths and grade of gold mineralization at Carlos in 2011, started work on a resource estimate of the zone mid-last year.