Vancouver, British Columbia--(Newsfile Corp. - January 22, 2025) - Dynasty Gold Corp. (TSXV: DYG) (FSE: D5G1) (OTC Pink: DGDCF) ("Dynasty" or the "Company") is pleased to release additional drill results for its 2,673 meters drill program completed in 2024 at the Thundercloud property, located in the Archean Manitou-Stormy Lakes Greenstone belt, 47 kilometers southeast of Dryden in northwestern Ontario.
The July drilling has successfully tested the extensions for the eastern limits of the defined mineralization in the Pelham Zone. Additional assays for 19.5 meters (120 to 139.5 meters) in hole DP24-02 were received, which combined with previous assays, returned 42m of 3.03 g/t Au within a broader zone of 94.5m of 1.61 g/t Au, 45m from surface, with consistent high-grade running between 5 to 8+ g/t Au and to up to 24.53 g/t Au (press release of September 23, 2024). See Table 1. Drilling in 2023 and 2024 confirmed an extension of gold mineralization to the east of the previously reported discovery hole (8.4 g/t of 73.5m) drilled in 2022 at Pelham.
DP24-06 is a new discovery hole drilled in October 2024 in a new area, about 1 km south of the Pelham Resource (NI43-101 Resource Estimates published in January 2022) at the boundary of chargeability and magnetic highs. This significant step-out hole intersected 4.5 meters of 2.1 g/t Au and 1.5 meters at 3.02 g/t Au within a broader zone of 22.5m of 0.80 g/t Au, starting at 6 meters from surface, indicating the presence of shallow mineralization in the Contact Zone. See Figure 1. The nature of the intersected mineralization comprises strong structurally controlled pyrite veining similar to the early intercepts at Pelham Resource.
"Dynasty is pleased to expand its footprint by 1 km to the south of the Pelham Resource and intersected encouraging near surface mineralization (6 meters) of up to 3.02 g/t. The Contact Zone appears to host similar mineralization as the Pelham Zone. The Pelham Zone has returned exceptional high-grade and long intercepts during 2022 to 2024 drilling. These initial results will aid in further investigative drilling in this new area. We are confident that this shallow mineralization can be considerably expanded with additional drilling," commented Roman Shklanka, a Director.
"Dynasty continues to deliver impressive broad zones with high-grade intervals three years in a row at the Pelham Zone. This new mineralization discovery in the Contact Zone is an exciting new chapter for the Company. It opens up a large new mineralized area for exploration and resource expansion. The mineralization could be further expanded in all directions. We expect to launch a surface exploration program as soon as weather permits to follow up the targeted area for additional drilling to expand mineralization along strike in the Contact Zone," added Ivy Chong, President and CEO.
Dynasty has completed approximately 7,400 meters of drilling at the Pelham Zone since 2022. The mineralization at Pelham is associated with pyritic veining within an east-west trending structural zone, surrounded by a halo of +1% disseminated and veinlet pyritic mineralization with associated gold grades of 1+ g/t Au extending along strike for several hundred meters to the east and west of the main mineralized zone, with a width of over 150 meters. The purpose of the three drill holes designed in the Contact Zone was to test for additional east-west trending structures associated with anomalous IP chargeability and surface rock chip assay results, which are potential repeats of the mineralization defined at Pelham. Similar pyritic vein mineralization to Pelham was intersected in all three of the holes with two of the holes returning intercepts with similar gold grades intersected in the extensive mineralized halo zones surrounding the high-grade mineralization at Pelham.
The 2025 spring exploration program will consist of detailed surface mapping, soil and rock-chip sampling in the Contact Zone to better delineate the trend and extent of mineralization prior to initiating an exploration drill program to explore this target area.
Table 1. Drill Intercepts Highlights from 2024 Phase 2 Drilling
Hole Number
East_NAD83
North_NAD83
From (m)
To (m)
Interval (m)
Au (g/t)
TC24-02
534280
5471386
45.0
139.5
94.5
1.61
Including:
97.5
139.5
42.0
3.03
109.5
114.0
4.5
9.28
TC24-06
534138
5470459
6.0
28.5
22.5
0.80
Including:
6.0
15.0
9.0
1.20
12.0
16.5
4.5
2.10
And
27.0
28.5
1.5
3.02
Core recovery was close to 100%. True width is unknown
Figure 1. October 2024 and 2023 Drill Hole Locations
Core was logged and sample intervals selected in Dynasty's core shack in Dryden, Ontario. It was securely transported and diamond sawed in the presence of the Company's consulting geologist, and personally delivered to the ALS Global Geochemistry Laboratory in Winnipeg, Manitoba. Dynasty used ALS Global for Au-AA23 gold fire assays and the ME-ICP61 33 multi-elements packages for the minor element analyses. OREAS standards, blanks and duplicates were inserted into the sample stream to check on the comparative accuracy of the gold assays received. Gold fire assays and 4-acid-dissolution geochem 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 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.
The Company has engaged Velocity Trade Capital Ltd. ("Velocity Trade") to provide market-making services to the Company in accordance with applicable securities laws and the policies of the TSX Venture Exchange ("Exchange"). Velocity Trade will manage trading of the Company's shares from time to time for the purposes of maintaining an orderly market and to reduce trading volatility and improving the liquidity of the Company's shares. The funding and securities required for these services undertaken will be provided by Velocity. In consideration for the services, Dynasty has agreed to pay Velocity Trade a monthly fee of $5,000 per month, and the agreement is from month to month, either party may terminate the agreement by providing the other with 30 days prior written notice of termination.
Velocity Trade is a private and independent investment dealer headquartered in Toronto, Ontario. It is registered for trading in the provinces of Ontario, British Columbia, Alberta, and Manitoba. It is a member of the TMX, and of the Canadian Investment Regulatory Organization (CIRO). Velocity Trade and Dynasty are not related parties and have no other agreements other than the aforesaid. This engagement is subject to acceptance of the TSX Venture Exchange.
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"_____________ 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.
