VANCOUVER, British Columbia, October 1, 2024 -- Dynasty Gold Corp. (TSX.V: DYG) (FSE: D5G1) (OTC: DGDCF) ("Dynasty" or the "Company") is pleased to announce phase two of the Company’s 2024 exploration program has started and its crew arrived at its Thundercloud property in the Archean Manitou-Stormy Lakes Greenstone belt, 47 kilometers southeast of Dryden in northwestern Ontario.
“Drill results released on September 23, confirming grades up to 24.53 g/t gold within a broad zone of mineralization at Pelham, demonstrate the continuity of high-grade gold discovered in 2022 and 2023. These high-grade assay results have significantly expanded the resource (NI 43-101 Resource Estimate Report, dated September 27, 2021) in tonnage and grade,” said Ivy Chong, president and CEO of Dynasty Gold Corp. “With additional drilling this fall and into next year, and gold trading above $2,600 an ounce, we anticipate the resource could expand considerably when the NI 43-101 Resource Estimate Report is updated.”
Chong continues: “Drilling on the property in the last two years are shallow holes of less than 250 meters (m). Mineralization is open at depth and along strike and 90% of the property has not been systematically explored, providing excellent potential for resource expansion.”
Pelham Zone Drilling Results
Drilling over the last three years at the Pelham Zone, in the central portion of the property, has delineated a zone of mineralization over a strike length of 450m and vertical extent of 150m to 200m, with typical intercepts from 50m to 160m averaging between 1 and 8.4 g/t gold with narrower, higher-grade intervals of 3m to 12m between 10 to 65 g/t.
*See Table 1 for selected sample results with intervals between 3m to 12m assaying above 10 g/t gold.
Table 1. Selected Results with Assays above 10 g/t Gold between 2022 to 2024 (This list is not exclusive. It does not include many 1.5m assays above 10 g/t in the data sets.)
|
Hole Number |
From (m) |
To (m) |
Interval (m) |
Au (g/t) |
|
DP22-02 |
190.5 |
193.5 |
3.0 |
65.2 |
|
DP22-03 |
115.5 |
125.0 |
9.5 |
50.3 |
|
DP23-01 |
162.0 |
165.0 |
3.0 |
19.3 |
|
And |
184.5 |
187.5 |
3.0 |
18.3 |
|
DP23-03 |
147.0 |
153.0 |
6.0 |
10.4 |
|
DP23-04 |
109.5 |
121.5 |
12.0 |
11.1 |
|
DP23-10 |
52.5 |
55.5 |
3.0 |
11.2 |
|
And |
69.0 |
72.0 |
3.0 |
18.1 |
|
TC24-02 |
111.0 |
114.0 |
3.0 |
11.0 |
Fall Drilling Plans Prioritized
Based on recent reprocessing of magnetic and IP data, the Pelham Zone mineralization is shown to coincide with magnetic and chargeability highs, which are believed to be associated with disseminated and veinlet pyrite and associated biotite-magnetite alteration. Several similar trending coincident magnetic and chargeability highs have been recognized in the West Contact Zone approximately 500 meters to 2,000 meters south of Pelham. In a follow-up to July’s drilling, the remaining 4,000-meter drill program (announced on June 18, 2024) will drill test three to four targets in the West Contact Zone. Plans include prioritizing those targets that are known to be associated with chargeability high and anomalous rock chip samples from previous trenching and historic workings.
A reinterpretation of the structural controls for mineralization intersected in the first phase drilling in the Pelham Zone is currently underway. It is anticipated that following this review, an additional phase of drilling will be conducted in late 2024 or early 2025 to test for down-dip extensions to the mineralization, particularly in the Eastern Pelham Zone where Dynasty defined the high-grade core to the mineralization with its 2022 and 2023 drill programs.
The technical content of this release has been reviewed and approved by E. Max Baker Ph.D. (F.AusIMM), Technical Director of the Company and a “Qualified Person” (“QP”) as defined in National Instrument 43- 101 – Standards of Disclosure for Mineral Projects.
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 Sept. 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:
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.