The Golden Crown Mine
- Located 1 kilometre south of the historic Phoenix open pit
- 1,070 metre long exploration drift developed to access the multi-vein system
- 229 surface drill holes and 53 underground drill holes
- 2016 Resource Estimate
- 2016 Positive Preliminary Economic Assessment
The Golden Crown property is composed of a number of contiguous claims totalling approximately 1,017 hectares. The Golden Crown claims are located 4 kilometres east southeast of Greenwood, BC and 1 kilometre south of the historic Phoenix open pit. Golden Dawn owns 100% interest in the Golden Crown Property. Infrastructure on the property includes a mill rated at 200 tonnes per day capacity, waste disposal area and tailing facilities, all fully permitted and under care and maintenance since operations ceased. This mill was constructed by Merit Mining in 2008 to process material from the Lexington mine. On the Golden Crown property, small scale historic underground gold-copper production took place in the early 1900’s. In 1985, a 1,070 metre long exploration drift was developed to access the multi-vein system. A total of 229 surface drill holes and 53 underground drill holes have been completed on this property in various programs that supports the current resource estimate presented in the table below.
P&E Mining Consultants Inc. was recently engaged by Golden Dawn to update the Lexington and Golden Crown resource estimates on behalf of Huakan as indicated in the tables below.
Table of Updated Resource Estimates for Golden Crown Property (Feb 1, 2016)
(3.5 g/t AuEq cut-off)
|Class||Tonnes||Au g/t||Cu %||AuEq g/t||AuEq ozs|
1) Mineral resources which are not mineral reserves do not have demonstrated economic viability. The estimate
of mineral resources may be materially affected by environmental, permitting, legal, title, taxation,
sociopolitical, marketing, or other relevant issues. It is noted that no specific issues have been identified as
(2) The quantity and grade of reported Inferred resources in this estimation are uncertain in nature and there
has been insufficient exploration to define these Inferred resources as an Indicated or Measured mineral
P&E Mining Consultants Inc., Report No. 307 Page 94 of 246 Golden Dawn Minerals Inc., Greenwood Gold Project resource and it is uncertain if further exploration will result in upgrading them to an Indicated or Measured mineral resource category.
(3) The mineral resources in this report were estimated using the Canadian Institute of Mining, Metallurgy and
Petroleum Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM
Standing Committee on Reserve Definitions and adopted by the CIM Council
Authors: P&E Mining Consultants Inc. and Paul Cowley, P.Geo.
Effective Date: March 24, 2016