Golden Dawn Minerals change to CanXGold Mining

2022-09-16 17:12 ET - News Release


Mr. Christopher Anderson reports

GOLDEN DAWN MINERALS INC. ANNOUNCES CORPORATE UPDATE

Golden Dawn Minerals Inc. has filed with the TSX Venture Exchange a notice of name change to CanXGold Mining Corp. Effective at the opening of trading on or about Sept. 21, 2022, CanXGold Mining will commence trading under the new ticker symbol CGX.

No further action is required by existing shareholders with respect to the name change. There is no change in the share capital of the company. The company's new Cusip number is 13875F101, and its new ISIN number is CA13875F1018. Certificates representing common shares of the company will not be affected by the name and symbol change, and will not need to be exchanged.

The company also announces it has received exchange approval for its previously announced loan agreement of Sept. 6, 2022. The loan agreement with an arm's-length accredited investor in the amount of $300,000 will be used for general working capital and drilling on the Phoenix property. The term of the loan is one year. Interest for the loan is at 12.0 per cent per annum. The company issued 800,000 bonus shares with a hold expiry date of Jan. 14, 2023.  

VANCOUVER, BC / ACCESSWIRE / September 20, 2022 / Golden Dawn Minerals Inc., (TSX-V:GOM)(FRANKFURT:3G8C)(OTC PINK:GDMRF), ("Golden Dawn" or the "Company"), announces that drilling has started at its Phoenix Property at the Greenwood Precious Metals project in southeastern BC.

Golden Dawn Minerals Inc., Monday, September 19, 2022, Press release picture
Photo of diamond drill set up.

Drilling is being done to test several large anomalies identified from last year's airborne VTEM geophysical survey. Areas of high conductivity were selected as priority targets. Magnetic anomalies extending from historically mined skarn copper-gold deposits were selected as secondary targets.

The first area to be tested is in the middle of a large, 1 km diameter conductivity anomaly identified in the 2022 VTEM survey, located near the historic Phoenix mine (A). The resistivity-depth section indicates this anomaly is below 150 meters depth. Similar conductive anomalies located to the east and west are also selected for drilling (B,C).

Golden Dawn Minerals Inc., Monday, September 19, 2022, Press release picture
Image showing Phoenix Property Boundary and Inset Maps

The first site is situated near the Gilt Edge showing, where historic drilling hit zones of mineralization such as 18 metres grading 0.23% copper and 0.30 g/t gold in drill hole DDH GE-2 by Granby Mining Company Ltd. in 1968. Previous operators intersected 16.5 meters grading 0.50 g/t gold and 0.22% copper in 1992. In 2007, Kettle River Resources reported results for 10 surface samples that ranged from 0.18 to 6.06 grams per tonne gold and from 0.12 to 0.99% copper. In 2017, Golden Dawn reported fine disseminations of chalcopyrite, pyrrhotite and pyrite in a micro-diorite intrusion over a length of approximately 15.0 metres. Five of eight chip samples returned significant results, with the average of these five samples being 0.18% copper and 0.87 g/t gold (GOM NR dated October 18, 2017).

Golden Dawn Minerals Inc., Monday, September 19, 2022, Press release picture
Area 1: VTEM Geophysics Conductivity (TauSF) map. Areas of high conductivity in purple.

Golden Dawn Minerals Inc., Monday, September 19, 2022, Press release picture
The second area of interest is in the northeast area of the Phoenix property, where potential for skarn-type mineralization is indicted by magnetic high anomalies that extend from areas of known mineralization. This area is named "Skarn Corridor" because it is a trend line of copper-gold deposits in skarn altered (calcium-silicate altered) Brooklyn limestone. Target sites have been selected to test a magnetic high that extends southward and is inferred to be a concealed intrusion that could be associated with skarn-related mineralization and/or precious metal vein mineralization.



https://www.accesswire.com/716613/...-On-the-Phoenix-Copper-Gold-Mine