Dynasty Gold prepares for airborne magnetic survey at Thundercloud, Ontario
Dynasty Gold Corp. [DYG-TSXV; DGDCF-OTC; D5G1-FSE] reported that a review of all available exploration data has now been completed and planning is underway for the 2022 exploration program at its 100%-owned Thundercloud gold property in the Archean Manitou-Stormy Lakes Greenstone belt 47 km southeast of Dryden, northwestern Ontario.
The initial work will involve a detailed, high resolution, drone-supported airborne magnetic survey over the Pelham and West Contact areas. The new survey will be extended to cover the northeast portion of the Thundercloud Porphyry Intrusive where previous soil and rock sampling returned significant gold values but with only minimum follow-up. The unexplored western portion of the Pelham gabbro area will also be included to look for possible extensions to the mineralized structures at Pelham.
The Pelham zone hosts an inferred resource of 182,000 ounces gold. Trenching in the West Contact Zone by Teck Resources Limited [TECK.A, TECK.B-TSX; TECK-NYSE] in 2007 returned 8.02 g/t GOLD over 39 metres. The mineralization was further extended by 30 metres at 3.03 g/t to the south, and 7 metres at 2 g/t to the north, through Dynasty’s recent chip and trench sampling program. Based on the data review of previous drilling and surface work, the grid line directions for the new drone survey needs to be modified from an older ground survey to properly define the geometry of the two known mineralized zones and their related structures.
The program will commence as soon as the ground situation permits. The drone survey will involve closer spaced flight lines with improved orientations, which should enhance the resolution of the gabbro geometry at Pelham. The gabbros preferentially contain more magnetite and pyrrhotite than the host rocks, which should enable better definition of the gabbros with modern technology. The new survey data is expected to assist in better defining structural and magnetic units related to the Pelham mineralization and interpreting the structural relationship between the Pelham and West Contact mineralization. It will also provide new data for locating the sites for a more comprehensive drill program to extend the resources at Pelham, and to design an initial drill program in the West Contact Zone to test targets where previous surface sampling returned high gold values in the area.
Dynasty Gold is focused on gold exploration in North America with projects located in a 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. 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.