Dynasty Gold drills 62.5 g/t gold over 1.5 metres at Thundercloud, Ontario

Dynasty Gold Corp. [TSXV-DYG; OTC Pink-DGDCF; FSE-D5G1] reported additional results from its Phase 1, 2023 drill program at the 100%-owned Thundercloud property, in the Archean Manitou-Stormy Lakes Greenstone belt in Ontario, 47 km southeast of Dryden, northwestern Ontario.

Drill hole DP23-04 intersected a broad zone of 43.5 metres of 5.0 g/t from 108 metres, including higher grade intervals of 16.5 metres of 8.2 g/t, 12 metres of 11.0 g/t and multiple of other high-grade intervals. This hole confirms that high-grade mineralization at Pelham extends beyond last year’s DP22-03 discovery hole which returned 73.5 metres of 8.42 g/t gold.

Ivy Chong, President and CEO, stated: “We are pleased to drill yet another high-grade hole. Hole DP23-04 returned 62.5 g/t gold over 1.5 metres at 112.5 metres from surface within a broad zone of 70.5 metres of 3.2 g/t gold with high-grade intervals of 16.5 meters of 8.2 g/t gold and 9 meters of 14.1 g/t gold.

“The drill results reported to-date are encouraging as most of the holes have intersected impressive grade within 200 metres from surface, complimented by high-grade up to 246 g/t gold over 1.5 metres, and length of up to 130 met\res. The high-grade intervals in Hole DP23-04 are just 15 metres below and 15 metres northeast of the high-grade in the discovery hole DP22-03, suggesting that high-grade trends northeast and is open in that direction.

“Continuity is further demonstrated by Hole DP23-01 that assayed 3 metres each of 19.34 g/t gold and 18.28 g/t within a broad zone of 52.8 metres of 2.67 g/t gold, drilled 20 metres below and about 100 meters northeast of Hole DP23-04. The Phase 2 drill program will test the extent of high-grade mineralization laterally and vertically, looking for possible stacked zones at depth. We believe that the potential for Thundercloud is enormous and we are just scratching the surface.”

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

Holes DP23-04 and DP23-07 were drilled 15 metres below and within 15 metres and 30 metres respectfully northeast of the discovery hole DP22-03 that assayed 73.5 metres of 8.42 g/t. Hole DP23-04 intersected a broad zone of mineralization that assayed 70.5 metres of 3.2 g/t from 93 metres, including a higher-grade zone of 43.5 metres of 5.0 g/t with high-grade intervals of 16.5 metres of 8.2 g/t and 9 metres of 14.1 g/t and very high grade of 62.5 g/t over 1.5 metres. Hole DP23-07 intersected 61.5 meters of 1.1 g/t including a broad high-grade zone of 34.5 metres at 1.6 g/t gold, including 4.5 metres of 6.6 g/t. These holes once again 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 understanding of the high-grade mineralization trends in the East Pelham zone which appear to align as NE trending, steeply dipping structures formed by dilatant shearing within the mineralization in the regionally defined E-W deformation zone. In the western portion of the Pelham zone, NW 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.

Holes DP23-09 was drilled in the west central part of the Pelham Zone, approximately 50 metres west of Hole DP23-08, 180 metres west of discovery hole DP-22-03 and assayed 1.1 g/t over 45.5 metres, including higher grade intervals of 8.5 metres of 2.5 g/t including 1.0 metre of 9.8 g/t, and 1.5 metres of 8.1 g/t. The results are consistent with DP23-08 and 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 gold, 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 geophysical defined trends and targets outside the Pelham zone.

Dynasty Gold is 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 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.