Strategic Acquisitions During Economic Downturn:
Golden Dawn has recognized opportunities during the mining sector downturn and has acquired significantly undervalued past producing mines, deposits and exploration targets and a modern processing facility in British Columbia’s prolific Greenwood mining camp, quickly becoming one of the largest land owners in the district, second only to Kinross Gold, the 5th largest gold producer in the world.
Becomes a Near Term Producer:
In part due to acquisition of undervalued assets at pennies on the dollar and improved metal prices, a 2017 Preliminary Economic Assessment Report shows “very positive economics” to re-start the Lexington & Golden Crown mines and processing facility. The company has received permits for dewatering of the Lexington mine and material extraction as well as restarting its 100%-owned processing facility which is only with 15kms haul distance from the 2 mines.
With Significant Upside Potential:
GOM acquired an additional 12,700 ha. of land (Phoenix Property) contiguous with the properties where the Lexington/Golden Crown mines and mill are located. The Phoenix Property has over 30 past producing mines, including the major Phoenix mine, and well over 70 mineral deposits and showings providing further upside potential for the Company.
The 2017 PEA recognizes the significance of the numerous exploration targets on the property for potentially increasing mineral resources and feed stock for its Greenwood Mill.
The Company is planning to commence dewatering of the Lexington mine shortly, after which material extraction from mine will commence and material will be processed at the Greenwood mill.
Golden Crown Mine
The Company has now received a 10,000 meter drill permit for the high grade Golden Crown gold mine.
May Mac Mine
Surface diamond drilling program is currently underway to extend the Skomac vein system.
Permits for operating the Greenwood Process Plant were received from the BC Ministry of Energy and Mines on June 16, 2017
Near term Mines & Mill
The company now has a distinct economic advantage with potential feed material from the Lexington, Golden Crown and May Mac mines to be delivered to its 100% owned Greenwood Process Plant centrally located within only 15 kms of all three mines.
The Phoenix Property
The Company is utilizing new airborne deep penetration geophysics to search for possible deep seated intrusive sources for the +30 historic mines as well as the major past producing Phoenix mine.