Dryden Gold drills 14.10 g/t gold over 7.54 metres at Elora, Ontario

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Dryden Gold Corp. [TSXV-DRY] released assay results from its phase 3 drill program testing the Elora gold system, Ontario. Drill hole KW-24-008 returned multiple intercepts of both quartz veining and sulphide mineralization assaying 14.10 g/t gold over 7.54 metres, including 43.81 g/t gold over 1.42 metres and 92.10 g/t gold over 0.30 metres.

The hole targeted the depth extension of historic drilling with visible gold being noted at 211.9 metres. The company also drilled its highest-grade intercept to date in the Gold Rock camp, with drill hole KW-24-003 returning 53.51 g/t gold over 1.05 metres, including 181 g/t gold over 0.30 metres.

“The Elora drill results continue to demonstrate the expanding near-surface potential of the Gold Rock Camp and underscores the effectiveness of our methodical drilling that has successfully expanded the footprint of gold mineralization to three parallel systems over 1.5 km, with only 2,904 metres of drilling. With every drill hole, we expand our understanding of the system architecture while identifying mineralogy, structural and geochemical controls on mineralization. Having an ever-expanding footprint, while identifying multiple high-grade gold occurrences, is the key to unlocking the full potential of the Gold Rock Camp and the entire Dryden Gold District,” stated Trey Wasser, CEO.

Currently, the 2023-2024 drill program is designed in 4 Phases to maximize the drill budget and expand the footprint of gold mineralization while identifying new high-grade gold occurrences. Historic drilling in the Gold Rock Camp was primarily focused on a single identified high-grade shoot, on the Big Master 2.

Results and interpretation from Phases 1 & 2, released February 21, 2024, identified three additional high-grade shoots, including drill hole KW-23-009A which intersected 26.11 g/t gold over 3.16 metres on the parallel Big Master 1. In addition, two significant step-out holes confirmed the Big Master gold system over 1.5 km. The Phase 3 results have proven a third near-surface high-grade parallel gold system further expanding the footprint of the Gold Rock Camp which has over 20 km of potential strike length.

Highlights: Hole KW-24-008 intercepted 14.10 g/t gold over 7.54 meters including 43.81 g/t gold over 1.42 metres and 92.10 g/t gold over 0.30 metres demonstrating the grade and width potential of the Elora system.

Hole KW-24-003 intercepted Dryden Gold’s highest gold assay value to date consisting of 53.51 g/t gold over 1.05 metres including 181.00 g/t gold over 0.30 meters and was drilled 160 metres along strike of hole KW-24-008.

Step-out hole KW-24-006 was drilled 293 meters along strike of hole KW-24-008 and intercepted 1.22 g/t gold over 2.07 metres. This hole confirmed the structural and mineralogical extension of the Elora system to the south-west.

Phase 4 drilling has been completed with results pending. This phase consisted of an additional six holes totaling 1,254 meters focused on the depth expansion of one of the new high-grade shoots identified in Phase 1 & 2 drilling on the Big Master gold system. Phase 4 also includes drill step-outs of 1.5 km to the south-west on the Elora gold System.

Dryden Gold President, Maura Kolb, stated, “The Elora drill results confirm a sulphide system with high levels of pyrite and visible gold. The Elora gold system hosted three historic mines within the Gold Rock Camp, including the highest producing Laurentian Mine (12.81 g/t gold) located about 600 metres north of our current drilling and the Selby Mine 1,500 metres to the southwest. Phase 4 drilling has been completed and includes a large step-out to the Selby Mine area and the company’s deepest hole to date on the Big Master gold system. If successful, Phase 4 could expand the Gold Rock Camp footprint to over 3 km. Going forward, historic mining, geological mapping and 3-D geophysical interpretations indicate dozens of additional targets within the 20-kim Gold Rock Camp.”

The eight drill holes reported today represent the third phase drill program completed in January 2024 for a total of 1,291 metres.

The program can be defined with three specific objectives: to test high-grade controls on the Elora system, complete extensional holes from the known mineralization and to test larger step-out holes along strike of the Elora gold system. In these systems it is important to define the envelop of mineralization and the high-grade pods or shoots will be captured within the overall mineralized footprint.

Dryden Gold controls a 100% interest in a dominant strategic land position in the Dryden District of northwestern Ontario. Dryden’s property package includes historic gold mines but has seen limited modern exploration. The property hosts high-grade gold mineralization over 50km of potential strike length along the Manitou-Dinorwic deformation zone. The property has excellent infrastructure, enjoys First Nations support and proximity to an experienced mining workforce.

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