Golden Peak to Acquire Maybrun Claims and Commences VTEM Airborne Geophysical Survey at Heikki Project in Hemlo Camp
GOLDEN PEAK MINERALS INC.
Suite 510-744 West Hastings
Vancouver, British Columbia, V6C 1A5
Tel: +1 (855) 678 5308
Golden Peak to Acquire Maybrun Claims and Commences VTEM Airborne Geophysical Survey at
Heikki Project in Hemlo Camp
Vancouver, BC – April 4, 2017 : Golden Peak Minerals Inc. (TSX-V: GP; US: GPKMF ) (“ Golden
Peak” or the “ Company”) is pleased to announce the commencement of a VTEM airborne survey being
flown over the Company’s Heikki Project (located in the Hemlo North camp) by GeoTech Ltd. of Aurora,
Ontario. The Company also announces that it has entered into an agreement to acquire eight mineral
claims located in the Kenora Mining District, Ontario (the “Maybrun Property”).
Todd Hanas, Interim President of Golden Peak commented, “We are pleased to commence
exploration on our recently acquired Heikki Gold Project, and in addition, add to our property portfolio
with the strategic claim group at Maybrun. The large-scale airborne VTEM™ geophysical program,
consisting of approximately 476 line-kilometers, will assist Golden Peak in initially testing potential
conductive anomalies anticipated to exist on the properties. This is the first step as we continue to
evaluate the project and advance to potentially drill testing the conductors that may be identified.”
Highlights of the Maybrun Property:
Three (3) of the claims are located to the north of the Maybrun Gold Copper Mine (“ Maybrun”)
and five (5) additional claims are located southeast and adjacent to Maybrun, and lie immediately
north of the Rowan Lake claim group. The Rowan Lake claim group hosts a number of gold
occurrences.
The eight (8) claims are also located approximately 11 km northeast of the Cameron Lake Gold
Mine, which has a measured and indicated resource of 569,000 ounces grading 2.26 g/t Au.
The north block of claims represents a bridge between the Maybrun and Canadian Arrow Mines’
Kenbridge Copper Nickel Mine to the north (3.5 million tonnes at .79% Nickel and .42%
Copper).
The group of claims has significant exploration potential, as it hosts the potential for continued
mineralization of these significant deposits.
The Maybrun Gold Copper Mine is interpreted as a synvolcanic, non-stratiform hydrothermal
replacement deposit related to gabbro sill emplacement within mafic volcanic flows. Mineralization of
Cu-Au generally occurs in the more permeable pillowed units within the mafic sequence (lower flows),
leading to the development of irregularly distributed pods and lenses of sulphide mineralization. In this
deposit, inter-pillow spaces are unusually large and are filled by white carbonate which has been replaced
by pyrrhotite-chalcopyrite sulphides. These host lavas form the west limb of a regional anticline striking
southeast. It has been postulated that mineralization may continue onto the southeast block of claims
recently acquired.
This theorem is reinforced by historical prospecting and geological mapping in the Rowan Lake group of
claims immediately south of the southeast block of claims acquired where it was observed that two hosts
of gold bearing sulphides occurred within the selvages of individual pillows in the pillowed flows and
within wide spaced fractures in massive, mafic flow sequences. In both cases, the zones are carbonated,
silicified and locally brecciated and show marked similarities to the style of mineralization at the
Maybrun Gold Copper Mine. The north block of claims strategically acquired by Golden Peak Minerals
represents a bridge between the Maybrun Gold Copper Mine and Canadian Arrow Mines’ Kenbridge
Copper Nickel Mine to the north (3.5 million tonnes at .79% Nickel and .42% Copper). This group of
claims is especially attractive for exploration as they host the potential for continued mineralization of
these significant deposits.
The Company will pay CDN$40,000 and issue 1,200,000 common shares as compensation for the
acquisition. The vendor will retain a 2% net smelter returns royalty, half of which may be purchased by
the Company for the aggregate payment of CDN$1,000,000. The acquisition is subject to the acceptance
of the TSX Venture Exchange.
This press release has been reviewed and approved by Peter Caldbick, P.Geo. Mr. Caldbick is a qualified
person for the purposes of National Instrument 43-101.
About Golden Peak Minerals Inc.
Golden Peak Minerals Inc. (TSX.V:GP) is a well-financed Canadian junior precious metals company,
focused on the exploration of its strategic land position assembled in the prolific Hemlo Gold Mining
Camp. The Company is comprised of a proven management group of experienced technical, geological,
engineering, and market/finance professionals, tasked with building new strategic partnerships to
maximize the exploration activity and discovery potential of its land holdings.
On Behalf of the Board,
Todd Hanas, Interim President & CEO
Golden Peak Minerals Inc.
For more information, please contact Todd Hanas, President, at [email protected].
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.
This news release includes certain "forward-looking statements". All statements, other than statements of
historical fact included in this release, including, without limitation, statements regarding forecast gold
production, gold grades, recoveries, cash operating costs, potential mineralization, mineral resources,
mineral reserves, exploration results, and future plans and objectives of the Company, are forward-
looking statements that involve various risks and uncertainties. These forward-looking statements
include, but are not limited to, statements with respect to mining and processing of mined ore, achieving
projected recovery rates, anticipated production rates and mine life, operating efficiencies, costs and
expenditures, changes in mineral resources and conversion of mineral resources to proven and probable
mineral reserves, and other information that is based on forecasts of future operational or financial
results, estimates of amounts not yet determinable and assumptions of management.