Mining News: Northern Neighbors: High-grade gold in Spades at 3 Aces

Golden Predator Mining Corp. Nov. 21 reported the discovery and expansion of high-grade gold targets at the Spades zone, one of three areas where the company has identified coarse gold in quartz veins within a 2,600-acre core area of the 3 Aces property in southeastern Yukon Territory. More than 800 grab, chip, channel and panels samples were collected within the core area over a nearly three-month program that began in August. Results from 350 of these samples have discovered two new targets areas – Seven of Spades and Queen of Spades – and expanded previous discoveries – Ace of Spades, Jack of Spades and Three of Spades. Ace of Spades is the location of a bulk sample and reverse circulation drilling carried out earlier this year. Previously reported highlights from the drilling include: 2.28 meters grading 96.78 grams per metric ton gold; 11.43 meters grading 31.89 g/t gold; and 10.36 meters of 14.3 g/t gold. Recently, Golden Predator sampled the footwall to the Ace of Spades extension vein where a zone of fractured and disrupted quartz veining was exposed. Values of 8.62, 13.4 and 3.88 g/t gold were returned from 2-meter channel samples cut across this vein. Six samples collected from the Queen of Spades target, which is located immediately northwest of Ace of Spades, returned values greater than 5 g/t gold. The highest grade sample collected at this newly discovered target returned 30.8 g/t gold. The Seven of Spades target, about 400 meters northwest of Ace of Spades, is composed of a series of flat lying stacked quartz veins, high angle quartz veins and steeply dipping fracture zones. The highest grade samples from this zone – 18.55, 17.05 and 16.8 grams per metric ton gold – were from flat lying quartz veins, two of which contained visible gold. Additional sampling Jack of Spades, situated immediately east of Ace of Spades, returned values up to 8.65 g/t gold from an extension of the previously identified set of veins. The northeast striking vein-set consists of several individual veins up to a maximum apparent thickness of 1.7 meters. The thickest vein returned 37.9 g/t gold from a panel sample and contained visible gold. Previous sampling of this vein on the lower discovery bench returned a value of 64.3 g/t gold over 1.5 meters. About 250 meters further east, trenching has extended the Three of Spades target area. Five trenches were excavated across Three of Spades. Out of 43 panel samples collected from these trenches, twenty returned values greater than 1g/t gold with a maximum value of 6.95 g/t gold. Road building, trenching and sampling of high gold-in-soil anomalies at 3 Aces will continue in the spring of 2017.

-Shane Lasley