The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
GPD: TSX-V
Chairman and CEO: William M. Sheriff (mug)
President: Robert Eadie
President of True North Mining Corp .: Art Ettlinger
Golden Predator Royalty & Development Corp., spun-out with the precious metal assets of Golden Predator Mines Inc. in January, hit the ground running with a revenue-generating gold royalty portfolio anticipating 2009 revenues of about C$1.2 million.
The new Vancouver, B.C.-based junior also boasts a large asset base in Nevada and Yukon Territory with over 38 precious metals projects.
The company is mandated to establish early high-grade precious metals production in Nevada, while conducting aggressive exploration and potential development of large precious-metal projects in the prolific Tintina Gold Belt and the Rocky Mountain Alkalic Gold Province.
In the Tintina Gold Belt, Golden Predator, through its True North Mining Corp. subsidiary, quickly acquired several key projects in 2009, including the Brewery Creek and Gold (Scheelite) Dome projects.
Under terms of a letter agreement with Alexco Resource Corp., Golden Predator can earn up to a 75 percent interest in 793 contiguous quartz mining claims and leases and certain related assets in three stages at the former Brewery Creek Mine near Mayo in central Yukon as well as a 50 percent interest in certain barite deposits on the property.
True North also aimed to explore and develop other large intrusive-related gold deposits in the Tintina Gold Trend, starting with the acquisition of Gold Dome in Yukon and adding Willoughby in British Columbia and Ogopogo in Alaska in August.
These properties were optioned from project generator Copper Ridge Explorations Inc. True North also optioned the 7,430-acre, or 3,083-hectare, Antimony Gold Property from a Dawson City prospector in July.
The explorer launched a C$2 million diamond drilling program in July targeting three properties this field season - Gold Dome, Brewery Creek and Antimony Gold.
At Gold Dome Project, True North drilled 18 holes on three targets (Toby, Tom and Hawthorne) for a total of 2,416 meters.
The junior completed eight drill holes at its Brewery Creek Project, five in the Pacific zone and three in the North Slope area.
Drilling at Brewery Creek is planned to continue through the fall and winter months with a short break for Christmas.
True North also initiated drilling at Antimony Mountain in September from a fly camp location near the AJ vein target.
To date, nine short holes totaling about 881 meters have been completed in an area of the vein, where previous historic drilling and surface sampling identified gold values up to 77.7 grams per metric ton gold.
The company said it plans expand its Yukon operations in 2010 through multi-drill, reverse circulation drilling campaigns, expediting evaluation of its gold projects.
Cash and short-term deposits: C$4.19 million (at June 30, 2009)
Working capital: C$6.6 million (at June 30, 2009)
Market capitalization: C$25.9 million
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Tel: 604-648-4653 Fax: 604-642-0604
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