Dynasty Gold Corp. report drill results from the first three holes of its Phase 1, 2023 drill program on the Thundercloud property. The Company has successfully extended high-grade mineralization to the east of Pelham by up to 100 meters. These initial drill holes indicate local continuity of higher gold grades with intercepts of up to 37.2 g/t gold. The Thundercloud property is in the Archean Manitou-Stormy Lakes Greenstone belt in Ontario, 47 kilometers southeast of Dryden, in northwestern Ontario.
Significant Assay Highlights:
- Hole DP23-01 intersected 52.8 m of 2.67 g/t gold from 134.7 m to 187.5 m, including 3 m of 19.34 g/t and 1.5 m of 37.2 g/t gold;
- Hole DP23-02 intersected 51.0 m of 1.4 g/t gold from 109.5 m to 160.5 m;
- Hole DP23-03 intercepted 57.8 m of 3.28 g/t gold from 97.5 m to 155.3 m, including 14.8 m of 7.14 g/t and 6.0 m of 10.36 g/t gold.
Ivy Chong, the President and Chief Executive Officer, stated: “This is a significant milestone in that the shallow high-grade mineralization has been extended by up to 100 meters to the east at Pelham. These high-grade intersections include 3 meters each of 19.34 g/t and 18.28 g/t gold and demonstrated the local continuity of the high-grade intercepts from the 2022 discovery drill holes. We believe that the high-grade mineralization is still open in all directions within the Pelham Zone. Our follow-up drilling should test and confirm this potential.”
Table 1. Assay Results:
|Drill Hole Number||From (m)||To (m)||Interval (m)||Au (g/t)|
The true widths of these drill intercepts are not known. Core recovery for the drill intercepts is approximately 100 percent.
Discussion of Drilling Results
- Mineralization in the three holes is mainly as blebs and stringers with some coarser veins, and occurs in metasomatically altered, silicified, locally sheared, fine- to medium-grained, Archean, bi-modal, mafic volcanics. The gold is associated with iron sulphides, quartz, carbonate, chlorite and biotite.
- These near-surface shallow holes were drilled at the eastern boundary of the Pelham deposit to confirm mineralization extensions. Hole DP23-01 was drilled about 100 meters east of the discovery hole DP22-03, that assayed 73.5 meters of 8.42 g/t, in an area where gold grades up to 37.2 g/t were encountered for the first time. Holes DP23-02 and DP23-03 were drilled about 30 meters down-dip west of DP23-01, and intercepted a broad zone of 57.8 meters that assayed 3.28 g/t gold and includes wide high-grade intervals of 5.33 g/t over 28.3 meters, 7.14 g/t over 14.8 meters and 10.36 g/t over 6 meters. These holes have expanded the size and confidence in the mineralized envelope as well as the continuity of the high-grade mineralization within it. These high-grade intersections occur within a lower grade mineralized envelope with respectable underground grades and should add significantly to the grade and value of the open-pit resource (Press release of January 4, 2022).
- The Pelham deposit is classified as an Archean, orogenic, hydrothermal deposit that is open at depth and may be subject to repetition along other untested trends.
- Phase 2 drilling will consist of deeper holes to test approximately 350 meters below surface or 150 meters below the current resource, as well as near surface follow-up to Phase 1 results to test for open extensions and trends.
Quality Assurance & Quality Control
Drilling completed at the Thundercloud property was by NQ-sized diamond drill core. All drill holes were logged, photographed and sample intervals were selected by geologists at the Property mostly as 1.5m samples. The drill core is then cut with a diamond saw, along lines marked by geologists. Bagged samples are sealed with zip ties and transported to ALS Global Geochemistry Laboratory in Winnipeg, Manitoba for assay. ME-ICP61 33 elements package was used for assaying. Oreas standards and blanks were inserted into the sample stream to check on the comparative accuracy of the gold assays received. AA-23 gold fire assays and 4-acid-dissolution geochemical analyses were conducted on the samples at the ALS Global Geochemistry Laboratory in Vancouver, B.C, and all gold values higher than 10 g/t were re-assayed by using Au-GRA21 gravimetric fire assays.
The technical information in this release has been reviewed by Peter Holbek, M.Sc., P.Geo, an independent consultant and a Qualified Person as defined by NI 43-101.
About Dynasty Gold Corp.
Dynasty Gold Corp. is a Canadian mineral exploration company currently focused on gold exploration in North America with projects located in the Manitou-Stormy Lake greenstone belt in Ontario and in the Midas gold camp in Nevada. The Company is currently advancing its Thundercloud gold resource in northwest Ontario. A NI 43-101 Independent Technical Report, dated September 27, 2021 can be found on the Company’s and SEDAR websites. The 100% owned Golden Repeat gold project in the Midas gold camp in Elko County, Nevada, is surrounded by a number of large-scale operating mines. For more information, please visit the Company’s website www.dynastygoldcorp.com.
ON BEHALF OF THE BOARD OF DYNASTY GOLD CORP.
Ivy Chong, President & CEO
For additional information please contact:
Phone: 604.633.2100. Email: email@example.com