Vancouver, British Columbia--(Newsfile Corp. - September 17, 2021) - Golden Dawn Minerals (TSXV: GOM) (OTC Pink: GDMRD) (FSE: 3G8C) has received final approval for its planned drill program on its Lexington property at its Greenwood Precious Metals project in southeastern British Columbia. The Lexington property is part of the company's extensive Greenwood Precious Metals Project in southeastern BC, which covers approximately 15,400 hectares within which are numerous mineralized zones and 34 historic mines including the large-scale historic Phoenix copper-gold mine located 10 kilometers north of the Lexington property.
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The Lexington Multi-Year Area Based permit is for a total of 25 drill sites, with 14 sites approved for this year which are scheduled for late October. Multiple holes can be drilled from each of the sites, so the permit allows for approximately 11,200 meters to be drilled this year out of a total of up to 20,000 meters.
Initial drilling is planned close to the Lexington Mine where there is potential to extend the mineralized zones that define the known resource.
Immediately northwest of the mine there is potential for a northwest extension of outlying resource blocks defined by intercepts in drill holes B93-6 and TG-81. Drilling is also planned southeast of the mine where historic drill intercepts, as shown for holes R70-18 and TS-64, indicate the presence of significant widths of copper-gold mineralization along a kilometer-long trend that stretches south from the Lexington mine.
The historic large intervals of low-grade gold-copper mineralization indicates potential for bulk gold mining at current metal prices. In the coming months, Golden Dawn intends to investigate options for bulk extraction. Property-wide exploration targeting will also benefit from the results of the 2021 airborne VTEM survey which are expected to be finalized soon.
The Lexington property has a long history of exploration completed by at least 12 companies. In 2008, 54,237 tonnes were mined from the underground Lexington mine and processed through the Greenwood gravity-flotation plant, producing 5,486 ounces gold, 3,247 ounces silver and 860,259 pounds of copper.
The operation was placed on care and maintenance in 2009 due to low metal prices. Only a small portion of the Lexington-Grenoble Deposit was mined in that time.
An updated PEA dated May 2017 reported 96,300 ounces of gold in the measured and indicated categories at a 3.5 grams per tonne cut-off.
The Lexington mine was developed to exploit a mineral deposit is comprised of shallow to moderately dipping stacked zones of massive sulphide veins, quartz-sulphide veinlets and sulphide disseminations.
Overall, the deposit has been traced for at least 525 meters along a trend of 110° and is 20 to 60 meters wide and 25 meters thick.
Chris Anderson, CEO, stated: "In addition to the existing mining permit for the defined resource at Lexington, this is a next step in expanding the resource and addressing the potential of the mineralised parallel structure."
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