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VANCOUVER, BC / ACCESSWIRE / March 11, 2016 / Golden Dawn Minerals Inc., (TSXV: GOM) (FSE: 3G8A) (the "Company" or "Golden Dawn") announces the continuation of the exploration program initiated in the Fall of 2015 on its Greenwood Precious Metal Project in the Greenwood Mining Division, South Central British Columbia, 500 km east of Vancouver Canada and 4 km west of the city of Greenwood on Trans- Canada Highway #3.
The Company is resuming surface diamond drilling on its May Mac mine complex. The drilling will test for extensions of silver-gold-lead-zinc mineralization on the Skomac vein system that was historically mined and milled on site in the Company's processing facility. Diamond drill holes will be targeted from surface and from underground positions to test the extent of a deeper vein that was discovered last year. This newly discovered zone lies approximately 100 meters below the May Mac mine #7 level. Drill targets have also been identified to test for extensions to gold mineralization in a number of historical mine adits situated within a kilometer of the May Mac mine. Preparations for underground drilling work in the May Mac #7 Adit are underway, with a mining crew being organized to excavate underground drill stations that will allow further testing of the north-west extension of the Skomac veins and the newly discovered deeper zone by underground drill holes. Upon successful completion of the underground drill program, the Company will extend the #7 adit to explore and bulk sample the extension of the Skomac veins. Deeper drilling and further geophysical surveys are being considered to test for possible skarn type mineralization and an intrusive source of the mineralization on this property.
Meanwhile, the Company is also undertaking a multi-disciplinary due diligence study related to the potential acquisition of the Greenwood Gold Mine Project as announced in the news release of February 24th, 2016. In the event the due diligence is successful and subject to adequate financing, the Company will acquire the project and will then consider processing material from the May Mac Mine at the Greenwood Gold mill to save the cost of refurbishing or replacing the May Mac mill and to benefit from a modern and efficient processing plant. The Greenwood mill is approximately 12 km southeast by road from the May-Mac Mine.
Technical disclosure in this news release has been reviewed and approved by Dr. Mathew Ball, P.Geo., Chief Operating Officer, who is a Qualified Person as defined by National Instrument 43-101.
For more details, please see the NI 43-101 Technical Report on the Company's website atwww.goldendawnminerals.com.
On behalf of the Board of Directors:
GOLDEN DAWN MINERALS INC.
"Wolf Wiese"
Wolf Wiese
Chief Executive Officer
For further information, please contact:
Corporate Communications
604-221-8936
[email protected]
THIS PRESS RELEASE WAS PREPARED BY MANAGEMENT WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS. NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. THIS DOCUMENT CONTAINS CERTAIN FORWARD LOOKING STATEMENTS WHICH INVOLVE KNOWN AND UNKNOWN RISKS, DELAYS, AND UNCERTAINTIES NOT UNDER THE COMPANY'S CONTROL WHICH MAY CAUSE ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS OF THE COMPANY TO BE MATERIALLY DIFFERENT FROM THE RESULTS, PERFORMANCE, OR ACHIEVEMENTS IMPLIED BY THESE FORWARD LOOKING STATEMENTS. WE SEEK SAFE HARBOR.
SOURCE: Golden Dawn Minerals Inc.
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