Dynasty Gold drills 1.17 g/t gold over 130.5 metres at Thundercloud, Ontario

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Dynasty Gold Corp. [DYG-TSXV; DGDCF-OTC; D5G1-FSE] reported further drill results for its phase 1, 2023 drill program on the 100%-owned Thundercloud property, Ontario. Hole DP23-06 intersected a broad 130.5-metre zone of 1.17 g/t gold from 100.5 metres; hole DP23-05 intersected 50 metres of 3.06 g/t from 104.5 metres.

These holes are drilled proximal to the area of the 2022 drilling and have significantly expanded near-surface mineralization and improved on the historical grades. The Thundercloud property is in the Archean Manitou-Stormy Lakes greenstone belt in Ontario, 47 km southeast of Dryden, northwestern Ontario.

Ivy Chong, president and CEO, stated: “We have substantially improved the grade from historical drilling. The width and the depth of these intercepts have reaffirmed our belief that mineralization at the Pelham zone is wide open and could extend for over a kilometre in strike length and also at depth. These significant intercepts with high-grade occurrences throughout require further delineation near surface as well as at depth to establish its extent. Our next drill program will test drill deeper targets and stepout from the Pelham zone.”

Drill hole DP23-05 returned 50.0 metres grading 3.06 g/y gold, including 7.5 metres of 4.36 g/t gold and 21.0 metres of 3.83 g/t gold, including 3.0 metres of 8.26 g/t gold. DP23-06 returned 130.5 metres of 1.17 g/t gold, including 57.0 metres of 2.30 g/t gold, including 3.0 metres of 5.19 g/t gold and 3.0 metres of 5.63 g/t gold. DP23-08 returned 58.5 metres of 1.40 g/t gold, including 4.5 metres of 4.43 g/t gold.

True widths of these drill intercepts are not known. Core recovery for the drill intercepts is approximately 100 per cent.

The Pelham deposit is an Archean, orogenic, hydrothermal deposit that occurs within a regionally defined, east-west-trending deformation zone, is open at depth, and may be subject to repetition parallel to and along other untested structural trends.

Mineralization occurs as blebs and stringers with some coarser veins, in metasomatically altered, silicified, locally sheared, fine- to medium-grained, Archean, bimodal, mafic volcanics. The gold is primarily associated with disseminated to laminated to semi-massive bands of pyrite and lesser pyrrhotite, quartz, carbonate, chlorite and biotite.

Hole DP23-05 and hole DP23-06 were drilled 25 metres below, within 10 metres, west and east, respectively, of the discovery hole DP22-03 that assayed 73.5 metres of 8.42 g/t. These recent holes have confirmed the size and confidence in the mineralized envelope and demonstrate the nuggety nature of this structurally controlled deposit.

The recent drill results have improved the company’s understanding of the high-grade mineralization trends in the East Pelham zone which appear to align as northeast-trending, steeply-dipping structures formed by dilatant shearing within the mineralization in the regionally defined east-west deformation zone. In the western portion of the Pelham zone, northwest-trending structures have also been historically identified. These structural dilatancies and intersections are the hosts for the higher-grade chutes and veins within the mineralized horizon.

DP23-08 was drilled 150 metres west of the high-grade focus area intersecting 58.5 metres of 1.40 g/t within the resource outline. Results are consistent with the adjacent historical drill holes TC08-11 and PH-88-05 that assayed 55.25 metres of 2.19 g/t and 60.3 metres of 1.74 g/t, respectively.

Phase 2 of 2023 drilling will consist of deeper holes to test approximately 350 metres below surface or 150 metres below the current East Pelham focus, as well as near-surface follow-up to other structurally and/or geophysically defined trends and targets outside the Pelham zone.

Dynasty Gold has projects located in the Manitou-Stormy Lake greenstone belt in Ontario and in the Midas gold camp in Nevada.

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