Resource Estimate At Brewery Creek Project

 

VANCOUVER - Golden Predator Corp. has completed its resource estimation for its Brewery Creek Project in the Yukon, Canada. Indicated Resources are estimated at 20.4 million tonnes grading 0.89 g/t gold and Inferred Resources are estimated at 13.0 million tonnes grading 0.83 g/t gold. Estimated resources contain approximately 581,000 gold ounces classified as indicated and 345,000 gold ounces classified as inferred, using cut off values of 0.20 g/t gold for oxide material and 0.70 g/t gold for sulfide material. The Mineral Resource Estimates for the Company's Brewery Creek Project has been estimated by EBA, A Tetra Tech Company (EBA), utilizing the Company's drilling and sampling programs, together with independently-validated historic sampling and drilling data conducted by previous operators including Loki Gold, Viceroy and Alexco Resource Corp. A total of 54,822 samples from 1,244 drill holes, totalling 106,650 m (34,929 samples from 957 RC holes, totalling 67,689 m, and 19,983 samples from 287 core holes, totalling 38,981 me) were composited to 2 m lengths and interpolated into six separate Gemcom GEMS partial block models. Ordinary Kriging (OK) methodology was applied to interpolate gold grades for the Big Rock, Bohemian-Schooner, Fosters and North Slope Deposits, and Inverse Distance cubed (ID3) methodology was applied to interpolate resources for the Classic Deposit. Oxide resources were defined by partial or full blocks lying above an interpreted redox boundary supplied by the Company and based on actual drill hole logs. The Brewery Creek property was operated by Viceroy Gold from 1996 to 2002 as an open pit operation with run of mine material delivered to the heap leach pad. Historic overall gold recovery from the heap leach operation is estimated at approximately 60%. Historic reports indicate that a run-of-mine mixture which included preg robbing material was placed on the heap leach which reduced ultimate recoveries. The Company is undertaking a metallurgical characterization program to properly identify gold recovery profiles and preg robbing characteristics by mineralized area. The program will include large diameter core drilling in the summer of 2012 for use in column leach tests by mineralized area and metallurgical rock type.Data indicates that the preg robbing material is predominantly restricted to sedimentary rocks which can be visually identified and selectively removed from material reporting to a process facility.