Vancouver, British Columbia--(Newsfile Corp. - November 9, 2022) - Dynasty Gold Corp. (TSXV: DYG) (FSE: D5G1) (OTC PINK: DGDCF) ("Dynasty" or the "Company") is pleased to announce the completion of the Phase 1 2022 drill program on its 100% owned Thundercloud gold property located 47 kilometres southeast of Dryden, in northwestern Ontario.
Dynasty completed drilling 4 NQ wireline diamond core holes in the Pelham resource area at Thundercloud in October. A total of 1000 metres were drilled, with core recoveries of nearly 100%. The core was logged for geology, and rock quality ("RQD"), with samples taken of all potentially significant mineralized zones in all 4 holes. Sample standards and blanks were inserted at appropriate intervals to assess the quality of the lab results, per NI43-101 standards, and as supervised by Richard R. Redfern CPG, a Dynasty director.
The Thundercloud drill program was designed with two factors in mind. In part, the holes were drilled next to certain historical holes in the Pelham resource target area drilled by Noranda, Teck Resources Limited, and Laurentian Goldfields, and in part to attempt to expand the Pelham resource as known to the east.
Hole DP22-1 was drilled adjacent to Noranda's historical hole PH88-10 that had a wide zone of good grade gold mineralization. Holes DP22-2,3, and 4 were drilled in the eastern portion of the known Pelham area, and partly in untested areas that showed magnetic "highs" in the drone magnetic survey conducted here for the Company in summer of 2022.
All 4 drillholes showed zones of pyritic mineralization, mainly associated with chlorite-altered fracture-feeder zones and as zones of disseminated pyrite and local quartz-pyrite veining. The gold mineralization in this part of the Pelham area appears to be associated in general with a "pyrite cloud" of disseminated and fracture-controlled pyrite, which if of sufficiently high gold grade could be tested for an open pitable deposit. Perhaps larger gold-bearing quartz veins of Red Lake type could occur at depth. The famous Red lake gold district lies 150 km NW of Dryden.
The mineralized core was diamond sawed in the presence of the Company's engineering personnel and personally delivered to the ALS Global laboratory in Winnipeg, Manitoba for processing. Oreas standards and blanks were inserted into the sample stream to check on the quality of the gold assays received. Gold assays and 4-acid-dissolution geochem analyses will be reported after receipt from ALS by Dynasty.
The technical information in this release has been reviewed by Richard R. Redfern, a director and A. Lee Barker, a technical advisor to the Company. Both are Qualified Persons as defined by NI 43-101.
About Dynasty Gold Corp.
Dynasty Gold Corp. is a Canadian 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 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.
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