Golden Predator (TSX: GPD) said Monday it has signed an option agreement to acquire up to a 75% interest in 75 quartz mineral claims known as the Harlan property in the Yukon, from Alexco Resource Corp.
Under the terms of the agreement, for the company to earn up to 75% in the property, it must incur a total of $3.85 million in exploration expenditures by the end of 2016, as well as deliver a bankable feasibility study by the same time.
The 1,400 hectare Harlan property, which is approximately 60 km northwest of the North Canol, contains at least two major drill-ready gold targets - the Vortex and West Porphyry zones, said Golden Predator.
Grab samples taken within the Vortex zone have returned values up to 6.5 g/t Au, while rock chip sampling at the West Porphyry zone returned values up to 0.86 g/t Au over 20.8 m.
"We are excited to be the first to test this truly outstanding drill-ready target located in the heart of the Tintina gold belt," said chairman and CEO William M. Sheriff.
"We have added Harlan to our already robust project advancement program for 2011, which includes aggressively following-up on the three important discoveries we made in 2011 at our Brewery Creek, Grew Creek and Clear Creek Projects."
Golden Predator has an extensive property position in the Yukon, with three advanced gold projects and a pipeline of six prospects as well as an exploration landholding comprising approximately 1,800 km2.