Golden Dawn drilling intersected new mineralization at Lexington, Greenwood BC

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VANCOUVER, BC / ACCESSWIRE / February 23, 2022 / Golden Dawn Minerals Inc.(TSXV:GOM)(FRANKFURT:3G8C)(OTC Pink:GDMRD), (“golden twilight“or the”Company“), announces that drilling has successfully intersected mineralization in all holes completed at the Lexington property in the Greenwood Precious Metals project in southeastern British Columbia.

  • Mineralized section of 140 meters
  • 450 meters north of known resource

Location of the 2021 drill sites 450 meters northwest of the Lexington gold-copper deposit.

The new drill holes tested an area approximately 450 meters northwest of the known resource. A total of 612.9 meters were drilled in five holes last fall; geological logging was completed in December and core sampling was completed in January. Samples have been submitted to ALS Laboratories in North Vancouver and analyzes are pending.

The drilling targeted the same porphyry-serpentinite contact zone that hosts the mineralization of the Lexington deposit. All holes intersected pyrite +/- chalcopyrite mineralization, including long intervals of disseminated and hosted mineralization in the overlying Lexington porphyry, and massive sulphide lenses at the base of the porphyry and in the underlying serpentinite. underlying. A well mineralized quartz vein was also intersected in a hole, containing pyrite, chalcopyrite and tetrahedrite.

Photo of core from hole LEX21-01 showing pyrite (+/- chalcopyrite) mineralization hosted in veinlets in a quartz-sericite altered host rock.

Photo of core from hole LEX21-01 showing part of a 143.6 meter interval of pyrite-chalcopyrite mineralization hosted in veinlets in the quartz-sericite altered Lexington porphyry.

Photo of core from hole LEX21-01 showing a massive sulphide lens (pyrite-chalcopyrite) at the lower porphyry-serpentinite contact.

The Company is very encouraged by the mineralization encountered in the drill holes as it shows that there is much more mineralization to be evaluated outside of the known Lexington deposit. Sulphide mineralization is present 450 meters from the known deposit and is laterally open to the northwest. The long intervals of pyrite-chalcopyrite mineralization hosted in veinlets that have been intersected could constitute an important disseminated type gold deposit. A new paradigm for exploration of the Lexington property is now apparent; exploration may focus on a high tonnage, low grade gold deposit.

Summary of mineralized intersections.

Hole

From (m)

to M)

Length (m)

Mineralization

LEX 21-01

40.29

184.02

143.73

veinlets of quartz, pyrite, chalcopyrite

184.02

184.60

0.58

massive pyrite, chalcopyrite

186.75

187.60

0.85

massive pyrite, chalcopyrite

LEX 21-02

31.05

160.02

128.97

veinlets of quartz, pyrite, chalcopyrite

160.49

160.92

0.43

massive pyrite (75%)

LEX21-03

21.14

89.15

68.01

veinlets of quartz, pyrite, chalcopyrite

89.15

89.45

0.30

massive pyrite

98.96

99.43

0.47

massive pyrite

LEX21-04

2:30 p.m.

2:60 p.m.

0.30

veinlets of quartz, pyrite, chalcopyrite

3:15 p.m.

15.88

0.73

veinlets of quartz, pyrite, chalcopyrite

LEX21-05

5.49

7.25

1.76

vein of quartz, tetrahedrite, chalcopyrite, pyrite

7.25

8.85

1.60

massive pyrite

10.00

10.50

0.50

massive pyrite

11.18

11:49

0.31

massive pyrite

Hole LEX21-01 intersected veinlet-hosted and disseminated mineralization from 40.29 to 184.02 meters (143.73 m) within the Lexington Porphyry Unit, then intersected two massive sulphide lenses (0. 58 m and 0.85 m core length) in the lower serpentinite unit. The porphyry-style mineralization consists of disseminated pyrite, hosted in fractures and veinlets (2 to 5%) with locally chalcopyrite (up to 2%) in variable abundance over the entire 143.73 meter interval. Massive sulphide lenses were intersected at 184.02-184.60 and 186.75-187.60 meters and consist of pyrite and 5-10% chalcopyrite.

Hole LEX21-02 also intersected 31.05 to 160.02 meters (128.97 m) of disseminated porphyry-style mineralization within the Lexington Porphyry Unit and then intersected a massive sulphide (pyrite) lens ( core length of 0.43 m) in the lower serpentinite unit.

Hole LEX21-03 intersected disseminated porphyry-style mineralization from 21.14 to 89.15 meters (68.01 m) within the Lexington Porphyry Unit, then intersected two massive sulphide lenses (core lengths of 0.30 and 0.47 m) in the lower serpentinite unit.

Hole LEX21-04 intersected porphyry-style disseminated pyrite and chalcopyrite mineralization in two intervals (0.3 and 0.73 m core lengths) within the lower serpentinite unit.

Drilling LEX21-05 intersected a mineralized quartz vein (core length of 1.76 m) then three lenses of semi-massive pyrite (core length of 1.6, 0.5 and 0.31 m) within of the lower serpentinite unit. The quartz-carbonate vein contains 20% sulphide minerals, including tetrahedrite, pyrite and chalcopyrite.

Cross section to the northwest showing the closeout of the 2021 drill hole with sulphide intersections.

The details and parameters used to estimate the Mineral Resources in the above figure are provided in the 2017 PEA Technical Report entitled “Updated Preliminary Economic Assessment on the Greenwood Precious Metals Project, Greenwood, British Columbia, Canada” by P&E Mining Consultants Inc. ., dated June 2, 2017 (filed on SEDAR).

Readers are cautioned that the historical documents referred to in this press release have been reviewed but not verified by a qualified person. Further work is required to verify that the historical records referenced in this press release are accurate.

The technical disclosure in this press release has been approved by Dr. Mathew Ball, P.Geo., President of the Company and a Qualified Person as defined by National Instrument 43-101,

Map of Golden Dawn’s Greenwood Precious Metals Project showing the Lexington Property (bottom green area).

For more details, please see the most recent National Instrument 43-101 Technical Report on the Company’s website at www.goldendawnminerals.com.

On behalf of the Board of Directors:
GOLDEN DAWN MINERALS INC.

By: “Christopher R. Anderson”
Christopher R. Anderson CEO

For more information, please contact:
Golden Dawn Minerals Inc. – Corporate Communications: Tel. : 604-488-3900
E-mail: [email protected]

Caution Regarding Forward-Looking Statements: This press release contains certain “forward-looking statements” within the meaning of Canadian securities laws, relating to, among other things, the Company’s preliminary stock consolidation plans. Although the Company believes these statements to be reasonable, it cannot guarantee that these expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are usually, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “aims” , “potential”, “goal”. , “objective”, “forward-looking” and similar expressions, or that events or conditions “will”, “will”, “could”, “could”, “might” or “should” occur, or are such statements, which , by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made and that they involve a number of risks and uncertainties. Accordingly, there can be no assurance that such statements will prove to be accurate and that actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if the beliefs, estimates or opinions of management, or Other factors were to change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include the possibility that the TSX Venture Exchange may not approve the proposed stock consolidation and that the Company may not be able to raise enough additional capital to continue his business. Readers are encouraged to consult the Company’s reports, which are publicly available through the Canadian Securities Administrators’ Electronic Document Retrieval System (SEDAR) at www.sedar.com for an more comprehensive analysis of these risk factors and their potential effects. This press release does not constitute an offer to sell or a solicitation of an offer to buy and there will be no sale of securities of the Company in any jurisdiction in which such an offer, solicitation or sale would be unlawful, including including one of the securities in the United States of America. The securities of the Company have not been and will not be registered under the United States Securities Act of 1933 (the “1933 Act”) or any state securities law and may not be offered or sold in the United States or to, or for account or benefit. U.S. Persons (as defined in Regulation S of the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such requirements registration is available.

THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY, NOR WILL THERE BE ANY SALE OF SECURITIES OF THE COMPANY IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE ILLEGAL PRIOR REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF SUCH JURISDICTION.

Neither the 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.

THE SOURCE: Golden Dawn Minerals Inc.

See the source version on accesswire.com:
https://www.accesswire.com/690039/Golden-Dawn-Drilling-Intersected-New-Mineralization-at-Lexington-Greenwood-BC

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