Vancouver, British Columbia--(Newsfile Corp. - February 24, 2022) - Dynasty Gold Corp. (TSXV: DYG) (FSE: D5G1) (OTC Pink: DGDCF) ("Dynasty" or the "Company") is pleased to announce that a review of all available exploration data has now been completed and planning is underway for the 2022 exploration program at its Thundercloud gold property in the Archean Manitou-Stormy Lakes Greenstone belt in northwestern Ontario, 47 kilometers southeast of Dryden.
The initial work will involve a detailed, high resolution, drone-supported airborne magnetic survey over the Pelham and West Contact areas. The new survey will be extended to cover the northeast portion of the Thundercloud Porphyry Intrusive where previous soil and rock sampling returned significant gold values but with only minimum follow-up. The unexplored western portion of the Pelham gabbro area will also be included to look for possible extensions to the mineralized structures at Pelham.
The Pelham zone hosts an inferred resource of 182,000 ounces gold, see Dynasty Gold press release dated January 4, 2022. Trenching in the West Contact Zone by Teck Resources Limited in 2007 returned 8.02 g/t over 39 meters. The mineralization was further extended by 30 meters at 3.03 g/t to the south, and 7 meters at 2 g/t to the north, through Dynasty's recent chip and trench sampling program. Based on the data review of previous drilling and surface work, the grid line directions for the new drone survey needs to be modified from an older ground survey to properly define the geometry of the two known mineralized zones and their related structures.
The program will commence as soon as the ground situation permits. The drone survey will involve closer spaced flight lines with improved orientations, which should enhance the resolution of the gabbro geometry at Pelham. The gabbros preferentially contain more magnetite and pyrrhotite than the host rocks, which should enable better definition of the gabbros with modern technology. The new survey data is expected to assist in better defining structural and magnetic units related to the Pelham mineralization and interpreting the structural relationship between the Pelham and West Contact mineralization. It will also provide new data for locating the sites for a more comprehensive drill program to extend the resources at Pelham, and to design an initial drill program in the West Contact Zone to test targets where previous surface sampling returned high gold values in the area.
About Dynasty Gold Corp.
Dynasty Gold Corp. is a Canadian exploration company currently focused on gold exploration in North America with projects located in a greenstone belt in Ontario and in the Midas gold camp in Nevada. The Company is currently advancing its Thundercloud gold deposit which contains 182,000 oz gold. The 43-101 Mineral Resource report and related press release with details on the resource are available on the Company's website and were filed on www.sedar.com. 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. In addition, Dynasty owns a 70% interest in the Hatu Qi2 gold mine in the Tien Shan Gold belt, Xinjiang, China, with which it is in legal dispute with Xinjiang Non-Ferrous Industrial Metals Group and its subsidiary Western Region Gold Co. Ltd. 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/114744
