Vancouver, Canada: Dynasty Gold Corp. (TSX-V: DYG) (FSE: D5G1) (OTC: DGDCF) ("Dynasty" or the "Company") is pleased to report further drill results for its Phase 1, 2023 drill program on the Thundercloud property. Hole DP23-06 intersected a broad 130.5 meter zone of 1.17 g/t gold from 100.5 meters; Hole DP23-05 intersected 50 meters of 3.06 g/t from 104.5 meters. These holes are drilled proximal to the area of the 2022 drilling and have significantly expanded near surface mineralization and improved on the historical grades. The Thundercloud property is in the Archean Manitou-Stormy Lakes Greenstone belt in Ontario, 47 kilometers southeast of Dryden, in northwestern Ontario.
Ivy Chong, the President and Chief Executive Officer stated: “We have substantially improved the grade from historical drilling. The width and the depth of these intercepts have reaffirmed our belief that mineralization at the Pelham Zone is wide open and could extend for over a kilometer in strike length and also at depth. These significant intercepts with high-grade occurrences throughout require further delineation near surface as well as at depth to establish its extent. Our next drill program will test drill deeper targets and step-out from the Pelham Zone."
Assay Results:
|
Drill Hole Number |
From (m) |
To (m) |
Interval (m) |
Au (g/t) |
|
DP23-05 Including And including |
104.5 109.5 130.5 148.5
|
154.5 117.0 151.5 151.5
|
50.0 7.5 21.0 3.0
|
3.06 4.36 3.83 8.26
|
|
DP23-06 Including including And |
100.5 100.5 129.0 153.0
|
231.0 157.5 132.0 156.0 |
130.5 57.0 3.0 3.0 |
1.17 2.30 5.19 5.63 |
|
DP23-08 Including |
72.0 99.0
|
130.5 103.5
|
58.5 4.5
|
1.40 4.43
|
The true widths of these drill intercepts are not known. Core recovery for the drill intercepts is approximately 100 percent.
Discussion of Drilling Results
- The Pelham deposit is an Archean, orogenic, hydrothermal deposit that occurs within a regionally defined East-West trending deformation zone, is open at depth and may be subject to repetition parallel to and along other untested structural trends.
- Mineralization occurs as blebs and stringers with some coarser veins, in metasomatically altered, silicified, locally sheared, fine- to medium-grained, Archean, bi-modal, mafic volcanics. The gold is primarily associated with disseminated to laminated to semi-massive bands of pyrite and lesser pyrrhotite, quartz, carbonate, chlorite and biotite.
- Hole DP23-05 and hole DP23-06 were drilled 25 meters below, within 10 meters, west and east respectfully of the discovery hole DP22-03 that assayed 73.5 meters of 8.42 g/t. Holes DP23-05 intersected a broad zone of mineralization that assayed 50 meters of 3.06 g/t including higher grade intervals of 7.5 meters of 4.36 g/t, 21 meters of 3.83 g/t, and 3 meters of 8.26 g/t. DP23-06 outlined a broad intercept that assayed 130.5 meters of 1.17 g/t including a wide higher grade interval of 57 meters of 2.30 g/t. These recent holes have confirmed the size and confidence in the mineralized envelope and demonstrate the nuggety nature of this structurally controlled deposit.
- The recent drill results have improved our understanding of the high-grade mineralization trends in the East Pelham zone which appear to align as N-E trending, steeply dipping structures formed by dilatant shearing within the mineralization in the regionally defined E-W deformation zone. In the western portion of the Pelham zone, N-W trending structures have also been historically identified. These structural dilatancies and intersections are the hosts for the higher-grade chutes and veins within the mineralized horizon.
- DP23-08 was drilled 150 meters west of the high-grade focus area intersecting 58.5 meters of 1.40 g/t within the resource outline (Press release of January 4, 2022). The results are consistent with the adjacent historical drill holes TC08-11 and PH-88-05 that assayed 55.25 meters of 2.19 g/t and 60.3 meters of 1.74 g/t respectively.
- Phase 2 of 2023 drilling will consist of deeper holes to test approximately 350 meters below surface or 150 meters below the current East Pelham focus, as well as near surface follow-up to other structurally and or geophysical defined trends and targets outside the Pelham zone.
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 1.5 m 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 James Rogers, 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”
_________________________________
Ivy Chong, President & CEO
For additional information please contact:
Vancouver Office:
Ivy Chong
Phone: 604.633.2100. Email: ichong@dynastygoldcorp.com
This press release contains certain "forward-looking statements" that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.