Dynasty Gold trenches up to 7.04 g/t gold at Thundercloud, Ontario
Dynasty Gold Corp. [DYG-TSXV; DGDCF-OTC; D5G-FSE] reported final assay results from the summer field program at its 100%-owned Thundercloud gold project located approximately 47 km southwest of Dryden, northern Ontario.
The work consisted of grab and channel sampling in and around two trenches excavated based on soil geochemical anomalies related to the West Contact zone mineralized area at Thundercloud. The Contact zone has only been partially explored in the past. The majority of work was done on the Pelham zone to the north, on which a NI-43-101-compliant resource calculation is completed and the report will be available before the year-end.
The program focused on trenching in the West Contact zone and approximately 100 lineal metres of trenching was completed in two target areas. Chip samples were taken along one-metre intervals in a strongly altered and mineralized conglomeratic sedimentary unit in contact with a younger Thundercloud quartz-feldspar porphyry.
Trench 1 expanded upon a trench completed by Teck Resources Ltd. [TECK.A, TECK.B-TSX; TECK.B-TSX; TECK-NYSE] in 2007, exposing Timiskaming-like Archean metasediments composing pebble to cobble conglomerate and siltstone beds. Trench 1 is approximately 80 metres long. Channel samples in one continuous zone of seven metres averaged 2.0 g/t gold in conglomerate, with one-metre samples in this seven-metre interval carrying between 0.82 and 3.9 g/t gold. Elsewhere in the trench, individual chip samples of note carried from 0.37 up to 1.75 g/t gold. A grab sample of highly altered pebble conglomerate taken adjacent to the contact with a quartz-feldspar porphyry dike returned 7.04 g/t gold.
Trench 2, 400 metres south of Trench 1, was designed to test the southern strike continuity of the West Contact mineralization. Excessive overburden depth precluded determining the nature of the bedrock at this location.
The new assay results confirm that other areas within the West Contact zone host significant gold values and form the basis for new exploration work. The new assay results indicate that the West Contact zone now merits a thorough evaluation going forward.
An expanded high-resolution drone supported airborne magnetic survey is planned for completion in the winter of 2021/2022. This survey will cover a larger area to include the northeast portion of the Thundercloud porphyry intrusive where the gabbro hosted mineralization in the Pelham zone was discovered.
Planning to drill the Pelham Gold zone is under way. The drill program is expected to test for down-plunge mineralization to increase tonnage and grade.
A transaction with Teck Resources at the end of September has provided Dynasty with a 100% ownership of the Thundercloud gold project. This property hosts a historic gold resource which will be brought up to NI 43-101 standards and is expected to be available by year end.
Dynasty Gold is focused on gold exploration in North America with projects located in a greenstone belt in Ontario and the Midas gold camp in Nevada. The 70%-owned Hatu Qi2 gold mine in the Tien Shan gold belt, Xinjiang, China, is in legal dispute with Xinjiang Non-Ferrous Industrial Metals Group and its subsidiary Western Region Gold Co. Ltd.