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Golden Dawn Minerals Expands Drilling Target Zones adjacent to the Deadwood 258,000 oz. Gold Inferred Resource(June 28, 2011)
Vancouver, June 28, 2011 - GOLDEN DAWN MINERALS INC. (TSX-V: GOM, FRANKFURT: 3G8), is pleased to announce that it has greatly expanded the prospective gold-copper target area in the vicinity of the Deadwood Gold Zone on the Wild Rose-Tam OShanter property, Greenwood, British Columbia. The expanded target area extends northwest and southeast along strike of the established gold zone, from which an Inferred 258,000 oz. resource (18,821,000 metric tones, grading 0.43 g/t, totaling 258,600 troy oz. at a cut off grade of 0.3 g/t Au), previously reported (see GOM Press Release, May 26, 2011). Additionally, strongly anomalous gold and copper values extend northward from the known gold zone to the northern extremity of the property. More moderate gold geochemical values also extend eastward from the known zone into an area with several Induced Polarization anomalies. Drilling of these targets is scheduled to begin in the latter part of July.
Gold results from soil sampling yielded a total of 198 samples greater than 50 parts per billion (ppb) Au with a total of 29 soil samples yielding from 100 ppb to a high of 447 ppb Au. Copper results returned a total of 184 soil samples greater that 200 parts per million (ppm) copper (Cu), with a total of 34 samples yielding from 500 ppm Cu to a high of 1,584 ppm Cu. The MMI soil sampling results have confirmed and reinforced the anomalies detected in the conventional soil sampling program.
A number of gold targets derived from the soil sampling require follow-up drill testing, including along strike to the northwest and southeast of the west-northwest trending Deadwood Gold Zone. A weak coincident arsenic and gold anomaly that requires drill testing has been identified along strike of the Deadwood Zone to the southeast of the Wild Rose vein system. A significant Au-Cu anomaly has been identified covering an area extending north from the Deadwood Gold Zone, up to the northern boundary of the property. This copper-gold anomaly with numerous samples yielding greater than 100 ppb Au and 200 ppm Cu is spatially associated with two magnetic anomalies interpreted to be related to altered and weakly deformed diorite or monzonite intrusions. These anomalies require drill testing. In addition, there are several gold and/or copper-in-soil anomalies associated with historic induced polarization (IP) chargeability anomalies east of and off the main Deadwood Gold Zone trend. A number of these anomalies warrant drill testing.
Golden Dawn is completing interpretation of the Deadwood data as drilling permits are obtained for the new campaign anticipated to begin in mid July. Additionally a geochemical sampling program of a comparable magnitude has been completed on the adjoining Boundary Falls property which contains the May Mac Mine and mill complex. Interpretation of that survey is in progress. The material in this press release has been reviewed by M. Dufresne P.Geol., a Qualified Person as defined by National Instrument 43-101, of APEX Geoscience, who is supervising the work on the Greenwood area properties.
On Behalf of the Board of Directors of:
GOLDEN DAWN MINERALS INC.
For Further Information, please contact:
Mike Poulin Lindsay Malcolm
Investor Relations Corporate Development
[email protected] [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 COMPANYS 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.
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