Preliminary metallurgical testing conducted during April and May 2011 by F.Wright Consulting Inc. suggests that the material from the Greenwood project may be a good candidate for conventional mineral processing procedures. Gold recoveries ranged from 63% to 95%. The resource is considered to exhibit reasonable prospects for economic extraction at today's prices for gold. The base case cut-off threshold of 0.3 g/t Au, which yields 24.5 million tonnes at an average grade of 0.53 g/t Au and is detailed in Table 1 above, is considered appropriate based on the project's current size, favorable location for access, power, water, labour force and other assumptions derived from deposits of similar type and scale.
2013 Drill Program Proposed to Further Increase Resource
Current drilling, together with historic drilling results, has now confirmed the presence of a significant widespread alteration zone (the Deadwood Gold Zone) comprising low-grade gold- copper (Au-Cu) mineralization along a strike length of approximately 1,500 metres in length and 300 metres in width and over 300 metres at depth. The Deadwood Gold Zone remains open in all directions. Certain portions of the resource include elevated concentrations of silver, lead and zinc.
APEX recommends approximately 8,000 meter of diamond drilling in approximately 30 to 40 holes for the upcoming 2013 work program. The drill program is designed to expand the current Inferred Resource immediately along strike northwest and southeast of the Deadwood Zone, at depth below the Deadwood Zone and further to the north up stratigraphic section in order to see if further parallel zones are present in the vicinity of a coincident magnetic-geochem Cu-Au-Mo anomaly that is likely indicative of a buried diorite. Drilling of this northern anomaly produced significant mineralized intersections within disseminated chalcopyrite in basalts and dioritic intrusions with wide low grade Cu-Au-Mo-Ag mineralization which likely reflects a possible intrusive-related porphyry system extending over large portions of the property.
View map: http://wp.goldendawnminerals.com/nrimg/gomsection.gif
Geology of the Deadwood Gold Deposit
The Golden Dawn's Greenwood Project is an intermediate to advanced exploration stage Property with a favourable structural, regional geological and stratigraphic setting that is situated within the highly mineralized Boundary District. Several historic mineralized areas are known on the property including the Deadwood Gold Zone and the Wild Rose Copper-Gold Veins. Both of these zones are associated with the Wild Rose Fault, a splay of the regional Lind Creek thrust fault. Many of the known historic workings and showings on the property are structurally controlled and spatially associated with major fault zones, intrusions and, in some cases, may be related to skarn-type settings.
The Wild Rose Zone is comprised of three parallel, northwest trending, moderate northeast dipping copper-gold-bearing veins that occur both within the Wild Rose Fault and in the hanging wall of the fault zone. Considerable drilling (and underground exploration) has been conducted to test the veins. Some of the better historic drill intercepts include 8.7 g/t Au over 2.3 m, 9.3 g/t Au over 2 m, and 25.7 g/t Au over 0.7 m. There is also potential for bulk tonnage mineralization in the Wild Rose Zone, similar to the Deadwood Zone along strike (less than 100 m) to the northwest. View map: http://wp.goldendawnminerals.com/nrimg/wildroseplan.gif.
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