Golden Predator pounces on new gold zone at Brewery Creek, share price climbs

Golden Predator's share price shone after it reported a gold discovery at its Brewery Creek project in the Yukon, adding to a series of other hot drillholes the junior has reported this year.

Author: Kip Keen
Posted: Wednesday , 27 Jul 2011

VANCOUVER, BC -

Golden Predator (TSX: GPD) hit a slew of gold mineralized intercepts at the previously undrilled Sleemans target on its lead Brewery Creek project in the Yukon.

The Yukon-focused junior reported on eight drillholes, seven of which hit gold mineralization, while the eighth was lost above projected mineralization, Golden Predator said.

Overall the grades in the seven drillholes were between 0.94 g/t gold to 1.46 g/t Au over intercepts from 24 metres to 192 metres in length, with the majority falling in the 25-metre range. By and large the intercepts started within 50 metres of surface.

The eye-catcher in the batch was 192 metres @ 1.46 g/t Au in drillhole 226, though Golden Predator noted it drilled this intercept at a sub-parallel angle to mineralized strike.

William Sheriff, Golden Predator's chairman and CEO, credited geological sleuthing for the latest discoveries at Brewery Creek, saying in a prepared statement: "We have been rewarded with two major discoveries at Brewery Creek, utilizing our geophysical and geochemical data."

Golden Predator identified the Sleemans target in a magnetic low and anomalous gold-in-soil halos, much as was the case at the Bohemian-Schooner zone 2.5 kilometres to the northwest. The Bohemian-Schooner zone has been the major focus of Golden Predator's drill program at Brewery Creek, as the junior pushes forward with ongoing resource calculation.

Bohemian-Schooner has yielded some impressive intercepts in the past few months, with one near-surface drillhole cutting 58 metres @ 8.9 g/t Au.

This year in the Yukon Golden Predator also drilled its Grew Creek property where it recently reported hitting 47 metres @ 3.78 starting over 100 metres downhole.

Investors seemed impressed with the drilling results at Brewery Creek as, on the news, Golden Predator's shareprice had climbed C$0.28 to C$1.34 as of presstime