VANCOUVER, May 9 /PRNewswire/ – GOLDEN DAWN MINERALS INC. (TSX-V: GOM) (FRANKFURT: 3G8) and Hi Ho Silver Resources Inc. are pleased to announce receipt of the Royal Attwood Titan 24 DC ‐ IP ‐ MT Geophysical Survey Report from Quantec Geoscience Ltd. (Quantec). A total of 30 priority anomalies warrant exploration including drill testing. APEX Geoscience Ltd. has selected a number of these targets for drill testing, and has commenced the required permitting procedures.
Golden Dawn Minerals Inc. and Hi Ho Silver Resources Inc. are joint optionees to the Royal Attwood property on a 50:50 basis, where Hi Ho Silver Resources Inc. is required to contribute 57.5% of the exploration expenditures. Golden Dawn is the operator of the Attwood Project.
THE GEOPHYSICAL SURVEY:
Quantec has prioritized 30 anomalies: 2 high, 15 moderate‐high, 9 moderate and 4 low‐moderate priority anomalies. The resolution of these anomalies as potential targets is based on the precision of the DC, IP, and MT inversion results. For initial drilling, APEX Geoscience Ltd. has identified eight of the Titan 24 anomalies that are roughly coincident with either prospective surface gold-copper soil geochemical anomalies or favourable geology such as historic skarn or epithermal mineralization identified at surface. Permitting for drill testing of these eight target areas is in progress. The land use permitting process may require up to 2 months. Drill testing is expected to be conducted during this summer season.
These anomalies were obtained from the Titan‐24 survey that was completed over a portion of the Royal Attwood Project, on behalf of GOM and Hi Ho Silver Resources Inc. Data were acquired over 6 DC-IP-MT arrays along 6 lines with a 100 m station interval and line spacing of 200 m. A total of 14.4 line-kilometres were surveyed.
The Titan 24 survey, which measures the parameters of DC (resistivity), IP (chargeability) and MT (magnetotelluric resistivity), is described by Quantec as the “leading deep search ground geophysical method worldwide”. In both grassroots and brownfields mineral exploration the system images: conductive sulphide mineralization of both conductive and disseminated types, alteration, structure, and geology to 700 m and beyond, for reliable and cost-effective targeting of drill holes to depth.
ROYAL ATTWOOD BACKGROUND
The Royal Attwood property, covering 1,800 hectares and comprising of four mineral claims, is located in the Greenwood Mining District of southern British Columbia (BC) Canada, 8 km west of the community of Grand Forks, BC. The property lies close to the electric power line, and is situated in terrain readily accessible year round by road. The Greenwood Mining District has a history of gold, silver, and copper production dating from the 1880’s, including the former prolific Phoenix Mine, located 5 km to the north, which yielded 27 million tonnes of ore grading 1.3 g/t gold with 0.8% copper.
The Attwood project is approximately 10 km southeast of Golden Dawn’s other Greenwood project currently subject to a full scale exploration program and which holds the May Mac Mine and processing facilities.
The property is an early exploration stage property with a number of highly prospective gold and copper geochemical anomalies detected in historic soil and stream sediment sampling. Some of the geochemical anomalies are coincident with various geophysical anomalies, including: magnetic, IP, EM, and the recently identified airborne Time Domain EM (TDEM) anomalies.
Historical exploration on the property dates back to the very early 1900s. Sporadic exploration continued from the late 1960s through to 1997, but only the most recent of this work was directed at gold mineralization. Analysis of 3,600 soil samples collected during 1997 yielded a total of 176 samples that assayed greater than 100 parts per billion (ppb) gold. Of these, 84 samples yielded greater than 200 ppb gold (>0.2 grams per tonne [g/t]); and a high value of 1,160 ppb (1.16 g/t) gold was reported. These anomalous historic samples occur over a broad area of 1 km by 1.5 km in extent within the northern third of the property.
Neither the geochemical nor the geophysical anomalies on the property have ever been effectively drill tested.
Exploration during 2003-2004 in the northern third of the property identified anomalous gold and copper in soil and rock samples associated with skarn mineralization spatially associated with a felsic intrusive. Exploration at that time also uncovered a zone of epithermal quartz veins and hydrothermal breccias. This style of mineralization regionally is an important source of gold mineralization, particularly in the Republic District of Washington State to the immediate south of the property. Both types of targets on the property require drill testing.
The reader is cautioned that historical data is not confirmed, and such historical data has not been verified. There are no known mineral resources on the property, and there can be no assurance that any mineral resources will be discovered on the property and, if discovered, there is no assurance that any mineralization may be economically extracted.
The information in this release has been reviewed on behalf of the Company by Mr. Michael Dufresne, M.Sc., P.Geol., a Qualified Person as defined by NI 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS OF
GOLDEN DAWN MINERALS INC.
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.
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