Dynasty Gold Corp. [DYG-TSXV; DGDCF-OTC; D5G1-FSE] reported drill results from the first three holes of its phase 1, 2023 drill program on the 100%-owned Thundercloud property. The company has successfully extended high-grade mineralization to the east of Pelham by up to 100 metres. These initial drill holes indicate local continuity of higher gold grades with intercepts of up to 37.2 g/t gold. The Thundercloud property is in the Archean Manitou-Stormy Lakes greenstone belt in Ontario, 47 km southeast of Dryden, northwestern Ontario.
Highlights: Hole DP23-01 intersected 52.8 metres of 2.67 g/t gold from 134.7 metres to 187.5 metres, including three metres of 19.34 g/t and 1.5 metres of 37.2 g/t gold. Hole DP23-02 intersected 51.0 metres of 1.4 g/t gold from 109.5 metres to 160.5 metres. Hole DP23-03 intercepted 57.8 metres of 3.28 g/t gold from 97.5 metres to 155.3 metres, including 14.8 metres of 7.14 g/t and 6.0 metres of 10.36 g/t gold.
Ivy Chong, president and CEO, stated: “This is a significant milestone in that the shallow high-grade mineralization has been extended by up to 100 metres to the east at Pelham. These high-grade intersections include three metres each of 19.34 g/t and 18.28 g/t gold and demonstrated the local continuity of the high-grade intercepts from the 2022 discovery drill holes. We believe that the high-grade mineralization is still open in all directions within the Pelham zone. Our follow-up drilling should test and confirm this potential.”
True widths of these drill intercepts are not known. Core recovery for the drill intercepts is approximately 100%.
Mineralization in the three holes is mainly as blebs and stringers with some coarser veins, and occurs in metasomatically altered, silicified, locally sheared, fine- to medium-grained, Archean, bi-modal, mafic volcanics. The gold is associated with iron sulphides, quartz, carbonate, chlorite and biotite.
These near-surface shallow holes were drilled at the eastern boundary of the Pelham deposit to confirm mineralization extensions. Hole DP23-01 was drilled about 100 metres east of the discovery hole DP22-03, that assayed 73.5 metres of 8.42 g/t, in an area where gold grades up to 37.2 g/t were encountered for the first time. Holes DP23-02 and DP23-03 were drilled about 30 metres down dip west of DP23-01 and intercepted a broad zone of 57.8 metres that assayed 3.28 g/t gold and includes wide high-grade intervals of 5.33 g/t over 28.3 metres, 7.14 g/t over 14.8 metres and 10.36 g/t over six metres.
These holes have expanded the size and confidence in the mineralized envelope, as well as the continuity of the high-grade mineralization within it. These high-grade intersections occur within a lower-grade mineralized envelope with respectable underground grades and should add significantly to the grade and value of the open-pit resource.
The Pelham deposit is classified as an Archean, orogenic, hydrothermal deposit that is open at depth and may be subject to repetition along other untested trends.
Phase 2 drilling will consist of deeper holes to test approximately 350 metres below surface or 150 metres below the current resource, as well as near surface follow-up to phase 1 results to test for open extensions and trends.
Dynasty Gold is 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.