Golden Peak Announces Positive Results of VTEM Airborne Survey and Filing of NI-43-101 Technical Report for the Heikki Gold Project in Marathon, Ontario
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www.goldenpeakminerals.com
Golden Peak Announces Positive Results of VTEM Airborne Survey
and Filing of NI-43-101 Technical Report for the Heikki Gold
Project in Marathon, Ontario
Vancouver, BC – August 9, 2017 : Golden Peak Minerals Inc. (TSX-V: GP; US: GPKMF )
(“ Golden Peak ” or the “ Company ”) is pleased to announce positive initial results of a recently
completed airborne VTEM™ survey (the “ Survey ”) and also the completion and filing of the
initial NI-43-101 Technical Report (the “ Report ”) on the Heikki Gold Project (the “ Project ”) in
Marathon, ON. The Company has the right to earn a 1 00% interest in the Heikki Gold Project as
outlined in its press release dated October 28, 2016.
VTEM Highlights:
• Commissioned in April 2017 and completed by GeoTech Ltd. of Aurora, Ontario.
• Identified two large, shallow conductive zones with in the 7,250 hectare Project footprint
(Refer to Figure 2.0):
o The first zone measured approximately 3,000 m x 1,800 m and is situated along the
western perimeter of the Project area.
o The second zone measured approximately 1,800 m in l ength, trended NW and is
roughly coincident to the contact between metasedim ents and the Cedar Lake
Pluton.
o Numerous weakly conductive zones were also identified by the survey.
• The Company is currently planning ground based Indu ced Polarity surveys over the two
broad, shallow conductive anomalies identified by the airborne survey.
NI-43-101 Technical Report Highlights:
• The Report, based on positive merits of the project and exploration potential recommends:
o Completion of a CAD$2.6 million, two phase explorat ion program that includes
airborne and surface geophysics, regional and local scale geological mapping and
sampling (Phase 1) followed by compilation, interpr etation and diamond drilling
(Phase 2).
• The Report also provides a recommendation that the area where the metasedimentary and
intermediate/mafic volcanic rocks are in contact wi th the Cedar Lake Pluton is a prime
exploration target.
Wes Hanson, President and CEO notes “ The presence of two large, shallow, conductive anomalies
in areas where regional scale mapping indicates lit hologies similar to the Hemlo host rocks, is
very exciting. We are currently evaluating options to further evaluate these anomalies including
detailed surface mapping and geochemical sampling, ground based Induced Polarity geophysics
and regional exploration drilling. The majority of the gold produced from the David Bell, Golden
Giant and Williams mines originated at depths in ex cess of 200 metres below surface, very little
ore outcropped or subcropped, one of the main reaso ns why the initial exploration of the camp
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required over seventy drill holes before the discov ery of the Hemlo deposits in 1981. That,
combined with a lack of exploration at Heikki durin g the initial Hemlo exploration rush (1982 –
1995), offers a compelling exploration target that we hope to capitalize on.”
The Heikki Gold Project lies within the Hemlo Green stone Belt (“ HGB ”), one of Canada’s most
prolific gold belts with over 22.0 million ounces o f gold production since 1985. The Project is
located approximately 5.0 km north of Barrick Gold Corporation’s Hemlo Operation. Regional
scale mapping (Muir 2003) has identified intercalat ed mafic to felsic volcanic rocks and
metasedimentary rocks similar in age and compositio n to the host rocks surrounding the Hemlo
gold deposits (Ref. Figure 1.0).
FIGURE 1.0 Heikki Project Regional Geology (Muir 2003)
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FIGURE 2.0 Heikki Project VTEM ™ B Field Z Componen t Conductive Anomalies
The Company filed the Report, entitled “N.I. 43-101 Technical Report on the Heikki Hemlo
Property” dated July 17, 2017. The report was autho red by independent consultants Mr. Peter
Caldbick, P.Geo., and Mr. J. Garry Clark, P.Geo. Th e report is available on SEDAR
(www.sedar.com ) under the Company’s profile as well as the Compan y’s website at
http://www.goldenpeakminerals.com/2017-GP-Heikki-43-101.pdf .
About Golden Peak Minerals
Golden Peak Minerals Inc. (TSX.V: GP ) is a well-financed Canadian junior precious metal s
company, focused on the exploration of its strategic land position assembled in the prolific Hemlo
Mining Camp. The Company is comprised of a proven m anagement group of experienced
technical, geological, engineering, and market/fina nce professionals, tasked with building new
strategic partnerships to maximize the exploration activity and discovery potential of its land
holdings.
Wes Hanson, P.Geo. has approved the technical information contained in this release. Mr. Hanson
is a director and Chief Executive Officer of the Company and is a Qualified Person as defined by
NI 43-101.
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On Behalf of the Board,
Wes Hanson, President and CEO
For more information, please contact [email protected] or
call toll-free: +1 (855) 584-0160
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.