Dynasty Gold drills bonanza gold grades: 1.5m of 246 g/t, 3m of 101 g/t, 12.5m of 25.66 at Thundercloud project, Ontario

Dynasty Gold Corp. [DYG-TSXV; DGDCF-OTC; D5G1-FSE] reported assay results from its Phase 1 2022 maiden drill campaign at the 100%-owned Thundercloud gold property located 47 km southeast of Dryden, northwestern Ontario. These are the best assay results ever reported from Thundercloud and constitute new discovery of wide zones and high-grade gold-bearing quartz veins requiring further delineation.

Significant Assay Highlights: DP22-02 intercepted 1.31 g/t Au over 121 metres from 102 metres, including 15.06 g/t Au over 9 metres, including 43.47 g/t Au over 3 metres.

DP22-03 intercepted 7.35 g/t Au over 51 mietres from 88.5 metres, contains the longest intercepts with the highest gold grades to date, including 13.01 g/t Au over 28.5 metres, including 25.66 g/t Au over 12.5 metres, including 101 g/t Au over 3 metres, including 246 g/t Au over 1.5 metres.

DP22-04 intercepted 0.764 g/t Au over 40.5 metres from 120 metres, including 8.61 g/t Au over 3 metres, including 25.1 g/t Au over 1.5 metres.

“We are thrilled with these outstanding results in our first drill program on the property. They are the highest gold grades, the longest and the widest intercepts ever drilled at the property. These drill results indicate a much bigger resource potential with higher grades at Thundercloud. The data will assist in building a structural model for a NI 43-101 resource update, and future drill target planning for resource expansion,” stated Ivy Chong, President and CEO.

These 4 near-surface shallow holes were drilled in the southeastern and south-central portions of the known Pelham area. The first hole was drilled on the eastern edge of a magnetic low that may represent a fault boundary, with no significant gold mineralization in it. Holes 2, 3, and 4 were drilled in untested areas of magnetic “highs” identified in the drone magnetic survey conducted in summer 2022.

These three holes discovered a new area of very high-grade gold mineralization in quartz-veined mafic metavolcanics and overlying volcanic flow breccias Quartz-veined rocks contained up to 246 g/t Au (7.91 oz/ton) over a 1.5-metre core length. The company will sample the entire hole 3 in the coming months. The focus of the next drill program will be to outline the extent of this high grade mineralization in previously unexplored areas.

The host rocks at Thundercloud are metamorphosed mafic volcanic strata and local overlying flow breccias intruded by two phases of intrusive gabbros. Much of the low-grade gold mineralization found at Thundercloud is associated with a “cloud” of disseminated pyrite. Higher-grade gold mineralization is found locally with quartz veining and local sulfide enrichments. The Company regards this as a previously unexplored zone of high-grade gold mineralization worthy of further drilling. In addition, the property has several other mostly unexplored areas of high magnetization that could be explored in the future.

“Current assay results obtained by Dynasty Gold from the Thundercloud property are particularly of interest in that the results clearly indicate that the property has potential for both large-tonnage with high-grade and vein deposits. Although only four holes were completed, intercepts such as 121 metres of 1.31 g/t Au and 101 g/t over 3 metres are selected examples of each type with more present in the data set. Additional work obviously is required to establish economics but the nature of the indicators to date are encouraging,” said Roman Shklanka, Director.

The company likes to acknowledge the contribution by the Ontario Junior Exploration Program (OJEP) to the company for the $60,000 grant towards furthering exploration on Thundercloud.

Dynasty Gold is focused on gold exploration 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 a NI 43-101 compliant 182,000 oz gold. 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.