Golden Predator Royalty & Development Corp.
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Nevada
Adelaide Project


Location

The Adelaide property, part of the Gold Run Mining District which has been active since the late 1870's, is located in southeastern Humboldt County, Nevada, about 18 miles south-east of Winnemucca. Golden Predator controls over 92,000 acres covering 3.6 miles of strike along the mineralized Adelaide structure. The property comprises 90 unpatented claims and 75 leased unpatented claims. Approximately 220 percussion and reverse circulation holes and 18 core holes have been drilled in several areas by previous operators, including the Adelaide-Crown, Margarite-Recovery veins, and the Robbers Knob area. Each of these prospects in the district has various historic resources and reserves announced on them that are not compliant with NI43-101 resource categories. The property is located at the projected intersection of the Getchell and Battle Mountain-Eureka gold trends. The rock units underlying the property consists primarily of Cambrian Preble Formation and the Ordovician Valmy Formation which are separated by the Adelaide fault. The Adelaide property has been the focus of exploration over the last 30 years by a number of companies including FMC, Franco-Nevada and Newmont.

Current Work Program

Golden Predator has completed 59 drill holes on the property over the past two years, testing multiple targets and advancing the Margarite vein structural zone target to a point requiring delineation to adequately define a potential resource. Golden Predator's completion of 20 holes targeting the Margarite zone in addition to several holes drilled by Newmont, has identified strong continuity of high grade intercepts for up to 900 ft of strike and demonstrating increasing gold grades with depth. The system is open to the north, and down-dip, with additional exploration drilling identifying anomalous veins sub parallel to the Margarite zone, not yet tested at the favorable horizon.

To advance the delineation drilling and metallurgical sampling for the Margarite vein structural zone, the Company has initiated permitting for an exploration drift to develop underground workings to approximately 250 ft below the surface of the Margarite pit floor and establish underground drilling platforms. These drill platforms will allow Golden Predator to further delineate the known mineralization and continuing testing the same structure down-dip, and also test additional parallel vein targets. The savings in reduced footage of delineation and exploration drilling from underground versus continued surface drilling will significantly offset the cost of underground development work and allow for metallurgical sampling.

Property

The Adelaide property contains an epithermal vein style gold-silver system. The property is underlain by Paleozoic sedimentary rocks that have been weakly metamorphosed and strongly tectonized, and intruded by Mesozoic and Cenozoic stocks and dikes. Siliclastic and calcareous rocks of the Cambrian Preble and Ordovician Valmy Formations host epithermal veins and stockworks along the Adelaide fault zone. Gold and silver bearing epithermal quartz veins and stockworks in silicified and brecciated host rocks comprise the main ore types in the Crown, Recovery, and Margarite mining areas, and represent the target types sought by Golden Predator. The mineralization at the current level of surface mining indicate a relatively high level in the epithermal system, suggesting potential for increasing gold grades with depth as demonstrated in Golden Predator drilling (see table below).

Golden Predator's drilling to date has focused on delineating zones of high grade on the Margarite and Crown veins zones, along with new target tests on other vein zones with favourable epithermal vein textures and surface geochemistry (Grindstone and Recovery veins). Golden Predator's work has highlighted a zone with 900 ft of strike on the Margarite vein zone with increasing grades with depth, and a zone of shallow high grade mineralization on an offset of the Crown vein to the north of historic open pit operations. Approximately 561 drill holes have been completed on the present property position since 1955. The Margarite vein structural zone is located in an area containing approximately 160 historic drill holes, the majority of which were testing shallow open pit gold-silver potential in the vicinity of previous production.

The largest past producer within the property, the Crown mine, operated from the early part of the century into the early 1940's. It has produced approximately 19,000 ounces of Au and 345,000 ounces of silver from a combination of open pit and underground workings. The most recent mining took place from 1988 to 1991; a small open pit operation produced a total of 4,917 oz Au and 53,474 oz Ag from the Margarite and Recovery veins.

The Adelaide property is optioned in conjunction with the Tuscarora Project under an agreement with Atna Resources Corp. (formerly Canyon Resources Corporation). Golden Predator assumed the position of Atna in an underlying agreement with Newmont Mining Corporation which requires the Company to spend a total of US$3 million on either or both projects over a five year period to earn our interest in the projects, and issue to Atna up to US$1 million in shares of Golden Predator. Newmont retains a onetime option on either project to enter into a joint venture with us whereby Newmont would hold a 51% and Golden Predator a 49% interest.
Travis Schwertfeger, BSc, MAIG & the Company's Vice-President, Exploration (US) is the Qualified Person for the Adelaide Project and has reviewed the technical content of this web summary.

Adelaide Project Drill Highlights, Greater than 1 gm/t

Drill Hole #

FROM

TO

Drilled
Thickness

 

True
Thickness

Au

Ag

 

Estimated
True
Thickness

Au

Ag

 

ft

ft

ft

 

m

gm/t

gm/t

 

ft

oz/t

oz/t

MARGARITE VEIN

 

 

 

 

 

 

 

2008 Drilling

 

 

 

 

 

 

GPA010

No Significant Results

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GPA011

180

190

10

 

1.89

6.1

12

 

6.2

0.179

0.34

GPA011

220

225

5

 

0.94

1.1

9

 

3.1

0.032

0.26

 

 

 

 

 

 

 

 

 

 

 

 

GPA012

310

315

5

 

0.98

2.5

32

 

3.2

0.072

0.93

GPA012

350

355

5

 

0.98

9.7

13

 

3.2

0.283

0.38

GPA012

385

390

5

 

0.98

8.9

14

 

3.2

0.261

0.41

 

 

 

 

 

 

 

 

 

 

 

 

GPA013

No Significant Results

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GPA018

425

465

40

 

8.75

1.6

25

 

28.7

0.048

0.74

including

430

445

15

 

3.28

3.1

36

 

10.8

0.091

1.06

GPA018

530

535

5

 

1.09

2.3

5

 

3.6

0.068

0.15

 

 

 

 

 

 

 

 

 

 

 

 

GPA019

485

510

25

 

5.49

26.8

60

 

18

0.781

1.74

Including

485

500

15

 

3.29

41.8

83

 

10.8

1.219

2.42

GPA019

585

595

10

 

2.13

9

3

 

7.0

0.262

0.07

Including

590

595

5

 

1.07

16.6

2

 

3.5

0.483

0.06

 

 

 

 

 

 

 

 

 

 

 

 

GPA020

470

475

5

 

0.98

3.7

12

 

3.2

0.108

0.35

GPA020

570

575

5

 

0.98

2

13

 

3.2

0.059

0.38

GPA020

715

720

5

 

0.98

8.6

4

 

3.2

0.25

0.12

 

 

 

 

 

 

 

 

 

 

 

 

GPA030

250

255

5

 

0.94

2.64

38

 

3.1

0.077

1.11

GPA030

270

275

5

 

0.94

2.71

36

 

3.1

0.079

1.05

 

 

 

  

 

 

 

 

 

 

 

 

GPA033

120

125

5

 

0.00

7.89

28

 

 

0.230

0.817

GPA033

175

200

25

 

6.48

2.69

13

 

21

0.078

0.379

 

 

 

 

 

 

 

 

 

 

 

 

GPAD03

280

294

14

 

2.99

15.42

10.0

 

9.8

0.450

0.51

GPAD03

320

325

5

 

1.07

1.46

6.0

 

3.5

0.043

0.18

GPAD03

380

382.2

2.2

 

0.47

1.01

1.0

 

1.54

0.029

0.03

 

 

 

 

 

 

 

 

 

 

 

 

GPAD04

244

248

4

 

0.61

2.33

103.80

 

2.00

0.068

3.028

GPAD04

305

310

5

 

0.79

4.86

15.00

 

2.60

0.142

0.438

 

 

 

 

 

 

 

 

 

 

 

 

GPAD05

200

205

5

 

0.91

1.51

25

 

3

0.044

0.729

GPAD05

330

335.5

5.5

 

1.01

6.20

42

 

3.3

0.181

1.225

 

 

 

 

 

 

 

 

 

 

 

 

GPAD06

165

170

5

 

0.76

1.65

14

 

2.5

0.048

0.408

GPAD06

175

180

5

 

0.76

1.90

9

 

2.5

0.055

0.263

GPAD06

295

300

5

 

0.76

14.10

7

 

2.5

0.411

0.204

GPAD06

336.7

349.8

13.1

 

2.01

4.91

45

 

6.6

0.143

1.304

including

343.7

345

1.3

 

0.21

14.95

46

 

0.7

0.436

1.342

 

 

 

 

 

 

 

 

 

 

 

 

GPAD07

110

120

10

 

1.23

1.77

11.0

 

4.0

0.052

0.321

GPAD07

175

215

40

 

4.92

4.15

40.8

 

16.1

0.121

1.189

including

180

185

5

 

0.61

19.45

23.0

 

2.0

0.567

0.671

GPAD07

RC Precollar only (no diamond
tail, results in 06 January 09
Press Release)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GPAD08

108.8

112

3.2

 

0.55

1.39

10

 

1.8

0.040

0.292

GPAD08

345.5

348

2.5

 

0.43

4.03

88

 

1.4

0.118

2.567

 

 

 

 

 

 

 

 

 

 

 

 

GPAD09

94.5

101

6.5

 

0.99

4.29

8.48

 

3.3

0.125

0.247

GPAD09

94.5

136

19.5

 

2.98

6.21

26.12

 

9.8

0.181

0.762

including

129

136

7

 

1.07

11.65

34.00

 

3.5

0.340

0.992

GPAD09

174

177

3

 

0.46

1.08

13.00

 

1.5

0.031

0.379

 

 

 

 

 

 

 

 

 

 

 

 

GPAD13

155

157

2

 

0.30

1.91

362.00

 

1.0

0.056

10.558

GPAD13

169

173

4

 

0.61

1.12

202.00

 

2.0

0.033

5.892

 

2009 Drilling

 

 

 

 

 

 

 

GPA034

95

115

20

 

4.72

2.04

108.25

 

15.5

0.060

3.16

 

 

 

 

 

 

 

 

 

 

 

 

GPA035

420

460

40

 

7.56

4.44

14.5

 

24.8

0.130

0.42

including

420

425

5

 

0.94

9.92

8

 

3.1

0.290

0.23

 

 

 

 

 

 

 

 

 

 

 

 

GPA036

395

405

10

 

2.50

2.64

3

 

8.2

0.080

0.09

GPA036

425

465

40

 

7.74

22.3

28.5

 

25.4

0.650

0.83

including

425

430

5

 

0.98

67.6

40

 

3.2

1.970

1.17

including

450

460

10

 

1.95

46.65

70

 

6.4

1.360

2.04

 

 

 

 

 

 

 

 

 

 

 

 

GPA037

310

335

25

 

6.22

11.46

34.8

 

20.4

0.330

1.02

including

310

315

5

 

1.25

53

82

 

4.1

1.550

2.39

 

 

 

 

 

 

 

 

 

 

 

 

GPA037

370

375

5

 

1.22

1.55

2

 

4

0.050

0.06

 

 

 

 

 

 

 

 

 

 

 

 

GPA038

290

295

5

 

1.07

2.36

<1

 

3.5

0.070

<0.03

 

 

 

 

 

 

 

 

 

 

 

 

GPA039

545

555

10

 

2.38

2.26

31

 

7.8

0.070

0.9

       

 

     

 

     

GPA042

355

380

25

 

5.91

2.75

54.6

 

19.4

0.080

1.59

GPA-042

395

425

30

 

7.09

21.67

54

 

23.3

0.876

3.06

including

395

415

20

 

4.72

31.55

76.5

 

15.5

0.92

2.23

GPA042

465

470

5

 

1.18

5.01

20

 

3.9

0.146

0.58

 

 

 

 

 

 

 

 

 

 

 

 

GPA046

725

730

5

 

0.94

1.68

5.0

 

3.1

0.049

0.15

Drill Hole #

FROM

TO

Drilled
Thickness

 

True
Thickness

Au

Ag

 

Estimated
True
Thickness

Au

Ag

 

ft

ft

ft

 

m

gm/t

gm/t

 

ft

oz/t

oz/t

CROWN VEIN

 

 

 

 

 

GPA014

105

110

5

 

 

1.6

73

 

 

0.046

2.13

GPA014

135

140

5

 

 

1.2

272

 

 

0.036

7.93

GPA014

275

290

15

 

 

1.5

45

 

 

0.043

1.31

 

 

 

 

 

 

 

 

 

 

 

 

GPA015

60

70

10

 

 

1.2

108

 

 

0.034

3.15

GPA015

280

285

5

 

 

1.8

32

 

 

0.052

0.93

GPA015

475

480

5

 

 

10.5

3

 

 

0.306

0.09

GPA015

495

500

5

 

 

1.7

1

 

 

0.048

0.03

 

 

 

 

 

 

 

 

 

 

 

 

GPA016

75

105

30

 

 

1.1

48

 

 

0.032

1.4

 

 

 

 

 

 

 

 

 

 

 

 

GPA017

105

110

5

 

 

1.1

67

 

 

0.033

1.95

GPA017

290

295

5

 

 

1.2

33

 

 

0.034

0.96

 

 

 

 

 

 

 

 

 

 

 

 

GPA027

50

60

10

 

 

1.34

8

 

 

0.039

0.22

GPA027

80

110

30

 

 

27.41

83

 

 

0.799

2.41

including

80

95

15

 

 

53.31

143

 

 

1.555

4.18

GPA027

125

130

5

 

 

2.02

4

 

 

0.059

0.12

GPA027

140

145

5

 

 

2.25

5

 

 

0.066

0.15

 

 

 

 

 

 

 

 

 

 

 

 

GPA028

95

105

10

 

 

2.97

27

 

 

0.086

0.79

GPA028

210

215

5

 

 

1.72

67

 

 

0.050

1.95

GPA028

450

455

5

 

 

2.12

5

 

 

0.062

0.15

 

 

 

 

 

 

 

 

 

 

 

 

GPA029

220

225

5

 

 

1.33

180

 

 

0.039

5.25

GPA029

280

300

20

 

 

1.73

35

 

 

0.051

1.01

 

 

 

 

 

 

 

 

 

 

 

 

GPAD10

No Significant Results - Shear
offsets Crown Vein System 

 

 

 

 

 

 

 

 

GPAD11

No Significant Results - Shear
offsets Crown Vein System 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GPAD12

65

72

7

 

1.65

2.53

18

 

5.4

0.074

0.517

GPAD12

104

125

21

 

4.91

4.19

28

 

16.1

0.122

0.817

including

104

106

2

 

0.46

4.12

51

 

1.5

0.120

1.488

including

106

108

2

 

0.46

0.42

41

 

1.5

0.012

1.196

including

108

110.7

2.7

 

0.64

0.78

15

 

2.1

0.023

0.438

including

110.7

112.5

1.8

 

0.43

36.50

87

 

1.4

1.065

2.538

including

112.5

118.4

5.9

 

1.37

0.09

22

 

4.5

0.003

0.642

including

118.4

120.4

2

 

0.46

0.58

10

 

1.5

0.017

0.292

including

120.4

121.7

1.3

 

0.30

0.49

16

 

1.0

0.014

0.467

including

121.7

125

3.3

 

0.76

2.63

11

 

2.5

0.077

0.321

Drill Hole #

FROM

TO

Drilled
Thickness

 

True
Thickness

Au

Ag

 

Estimated
True
Thickness

Au

Ag

 

ft

ft

ft

 

m

gm/t

gm/t

 

ft

oz/t

oz/t

RECOVERY VEIN

 

 

 

 

 

 

 

GPAD01

25.9

40

14.1

 

 

1.60

33

 

 

0.047

0.955

GPAD01

107.8

110

2.2

 

 

2.48

36

 

 

0.072

1.050

 

 

 

   

 

 

 

 

 

 

 

GPAD02

145.6

175

29.4

 

 

2.25

20

 

 

0.066

0.571

including

160

175

15

 

 

3.74

16

 

 

0.109

0.476

GPAD02

298.9

300

1.1

 

 

2.08

29

 

 

0.061

0.846

 

 

 

 

 

 

 

 

 

 

 

 

GPA001

70

75

5

 

 

1.1

64

 

 

0.032

1.87

 

 

 

 

 

 

 

 

 

 

 

 

GPA002

80

90

10

 

 

1.8

69

 

 

0.051

2.01

GPA002

115

120

5

 

 

1.3

69

 

 

0.036

2.01

 

 

 

 

 

 

 

 

 

 

 

 

GPA003

65

70

5

 

 

5.2

108

 

 

0.152

3.15

 

 

 

 

 

 

 

 

 

 

 

 

GPA004

30

40

10

 

 

1.8

125

 

 

0.052

3.63

GPA004

120

125

5

 

 

11.2

20

 

 

0.325

0.58

 

 

 

 

 

 

 

 

 

 

 

 

GPA005

245

250

5

 

 

1.2

6

 

 

0.034

0.18

 

 

 

 

 

 

 

 

 

 

 

 

GPA006

275

280

5

 

 

1.7

105

 

 

0.05

3.06

 

 

 

 

 

 

 

 

 

 

 

 

GPA007

90

95

5

 

 

1

14

 

 

0.03

0.41

 

 

 

 

 

 

 

 

 

 

 

 

GPA008

120

130

10

 

 

4.4

73

 

 

0.129

2.11

including

 

 

5

 

 

6.9

85

 

 

0.202

2.48

GPA009

80

110

30

 

 

1.2

35

 

 

0.034

1.03

GPA009

315

320

5

 

 

1

<1

 

 

0.029

<0.03

 

 

 

 

 

 

 

 

 

 

 

 

GPA024

No Significant Results

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GPA031

70

75

5

 

 

1.15

50

 

 

0.034

1.46

GPA031

90

95

5

 

 

2.76

12

 

 

0.081

0.35

 

 

 

 

 

 

 

 

 

 

 

 

GPA032

90

95

5

 

 

1.17

66

 

 

0.034

1.93

GPA032

210

215

5

 

 

1.15

<1

 

 

0.034

<.029

HIGHWALL VEIN

 

 

GPA021

115

120

5

 

 

1.7

8

 

 

0.048

0.23

 

 

 

 

 

 

 

 

 

 

 

 

GPA022

No Significant Results

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GPA023

85

90

5

 

 

1.555

227

 

 

0.045

6.621

 

 

 

 

 

 

 

 

 

 

 

 

GPA025

No Significant Results

 

 

 

 

 

 

 

GPA026

No Significant Results

 

 

 

 

 

 

SAGE VEIN

 

 

 

 

 

 

GPA043

No Significant Results

 

 

 

 

 

 

GPA044

No Significant Results

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GPA045

140

145

5

 

 

4.29

30.0

 

 

0.125

0.88

GPA045

160

165

5

 

 

1.75

29.0

 

 

0.051

0.85



Adelaide 43-101 Technical Report

Photos


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Drill hole GPAD03, photo of 1.5 m (5 ft) interval of 31.7 gpt (0.925 opt) gold from 280 ft drill depth, located within 4.27 m (14 ft) of 15.42 gpt (0.45 opt) gold intercept.

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Drill hole GPAD06, photo of 0.4 m (1.3 ft) interval of 14.95 gpt (0.436 opt) gold from 343.7 ft drill depth, located within 4 m (13.1 ft) of 4.91 gpt (0.143 opt) gold intercept.
 

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Banded Vein from the Recovery vein, north wall of Recovery pit

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Lattice Blade epithermal Quartz Vein textures from Recovery Vein
 

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Hanging wall splay of Recovery vein, west wall of historic Recovery pit looking NW

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RC drilling on Margarite Hangingwall Veins
 

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Boart Drilling GPA032 Looking North Toward Crown Pit

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Banded Vein in Highwall South End of Margarite Pit
 

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Geologist Lisa Giuliani inspects drill chips while reverse circulation drilling at Adelaide

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Logging Core
 

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Geologist Lisa Giuliani looks at drill core from the first diamond drill hole at Adelaide
 
 



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