Dynasty Gold’s Rock Samples Returned up to 4.09 g/t Gold on the Thundercloud Property in Ontario
Monday, January 14, 2019 7:05 PM
VANCOUVER, BC / ACCESSWIRE / January 14, 2019 / Dynasty Gold Corp. (TSX-V: DYG) (FWB: D5G) (OTC: DGDCF) ("Dynasty" or the "Company") is pleased to report results of the final mapping and rock sampling program at the Thundercloud property, optioned from Teck Resources Limited ("Teck") early last year (see press release dated February 1, 2018). The Property is in the central Wabigoon greenstone gold belt, 47 kilometers southwest of Dryden, Ontario.
Following the completion of the summer rock chip sampling program, which was centered at the Glatz outcrop in the West Contact zone (Press release of August 22, 2018), the recently completed mapping and rock sampling program was focused on the potential trench and drill-targets areas around the Glatz outcrop and extended to other parts of the Property where previous IP surveying identified high chargeability and resistivity anomalies. The assay results for sixty-four grab samples extended the anomalous area. Highlights of the assay results included a grab sample taken near Trench 3 in the north end of the West Contact zone, a silicified mafic volcanic, that assayed 4.09 g/t Au, indicating gold potential outside of the younger Temiskaming-like sediments. The typical silver and telluride pathfinder elements characteristic of the Western Contact area were also elevated, illustrating the potential proximity to an oxidized intrusion typical of many Archean gold deposits. A sample returning 0.72 g/t Au came from Trench 8 (between the Pelham zone and the West Contact zone) from a sheared felsic unit. A grab sample that assayed 0.61 g/t Au was taken 30 m west of the Glatz outcrop, confirming it as trenching Target Area 1. A grab sample that assayed 0.54 g/t Au was collected from trenching Target Area 2, where historic samples taken by Glatz had assayed 2.10, 7.27 and 6.09 g/t Au. Further work is planned on the structural controls to mineralization.
Two previously developed drill targets on the Pelham Zone are ready for drill testing. Two proposed drill-holes will have the dual purpose of confirming the existence of a parallel footwall zone plus testing the down-plunge potential of the Pelham Zone itself at a vertical depth of 180 and 225 meters. These holes are designed to verify the potential for expanding the historic (non 43-101 compliant) resource of 5.56 MT at 1.60 g/t.
The rock samples were delivered to ALS lab in Thunder Bay, Ontario and assayed for 48 elements using the ME-MS61 package. This press release was reviewed by Andrew Tims P. Geo, a Qualified Person under the definition of National Instrument 43-101.
Expenditure Schedule Revision and Drill Permit Update
The Company has reached an agreement with Teck to revise the Thundercloud property expenditure schedule until all requirements related to the permit application are met.
About Dynasty Gold Corp.
Dynasty Gold Corp. is a Canadian gold exploration company focused on gold exploration in North America. For more information on the Company and its projects, please refer to the 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 protected]
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.
SOURCE: Dynasty Gold Corp.