Dynasty Gold completes 2,344 m drilling at Thundercloud

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Dynasty Gold completes 2,344 m drilling at Thundercloud

2023-08-21 12:53 ET – News Release

Ms. Ivy Chong reports


Dynasty Gold Corp. has completed phase 1 of the 2023 drill program with a total of 2,344 metres drilled in 12 holes in both the East Pelham and West Pelham zones. Drill core has been logged and split, with samples shipped to the ALS Global lab in Winnipeg.

The first four holes of the current program were drilled proximal to the area of 2022 drilling to determine size and continuity of the high-grade mineralization intersected by holes DP22-02, DP22-03 and DP22-04 (please see press releases dated Jan. 10, Feb. 13 and June 20, 2023). The next six holes were stepouts within the Pelham magnetic and IP (induced polarization) chargeability anomalies, while the final two holes tested geophysical anomalies in the West Pelham zone.

Results from the current program will help establish the relationships between gold grade and geological and geophysical rock characteristics and help guide drill testing of other anomalies on the property. The 2023 phase 1 drill program results will be reported following receipt and verification of analytical data.

Ivy Chong, president and chief executive officer of the company, stated: “We have an excellent team of geologists working on the Thundercloud project. It includes Mr. Jim Rogers, who visited the property to study the surface outcrops and did a detailed review of the drill core. Jim has extensive experience with orogenic gold systems while working as the regional exploration manager for Goldcorp at the Red Lake mine. Our drilling crew is off on a short break while waiting for the assay results. We are very excited about the potential to have found an important high-grade gold system. Also, we would like to thank the Wabigoon first nations for providing our accommodations and people that have been very helpful with our summer 2023 drill campaign.”

Discussion of Thundercloud project and core observations

The Thundercloud property is situated within the Manitou/Stormy Lakes greenstone belt (MSGB) in the western Wabigoon part of the Superior greenstone terrane. The MSGB hosts a number of bimodal volcano-sedimentary sequences. The metamorphic grade is primarily greenschist to lower amphibolite facies. The terrane-scale Manitou Straights fault trends northeasterly through the belt and lies to the northwest of the Thundercloud property. As the gold mineralization is associated with sulphide minerals and as such appears to be correlated with IP chargeability anomalies, the 3-D modelling of IP chargeability data should prove helpful in targeting mineralization in future drilling. Host rocks to the mineralization include mafic flows and derived epiclastic breccias as well as felsic crystal and crystal-lithic tuffs. Zones of mineralization are marked by extensive quartz and lesser quartz-carbonate and quartz-feldspar veining combined with stringer to laminated pyrite and, locally, pyrrhotite; although the iron sulphide minerals are primarily within the volcanic rock and not in the veins. Some veins have biotite selvages, and the veined area commonly displays moderate sericite and/or chlorite-epidote alteration. Mafic rocks peripheral to and, to a lesser extent, within the areas of veining, sulphidation and alteration are enriched in magnetite. The drill-intersected mineralization is of variable thickness, and, collectively, the intersections appear to define subparallel, tabular to curviplaner zones.

The technical information in this release has been reviewed by Peter Holbek, PGeo, MSc, an independent consultant and a qualified person as defined by National Instrument 43-101.

About Dynasty Gold Corp.

Dynasty Gold is a Canadian exploration company 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 company is currently advancing its Thundercloud gold resource in Northwestern Ontario. A NI 43-101 independent technical report dated Sept. 27, 2021, can also be found on the company’s website and SEDAR. The 100-per-cent-owned Golden Repeat gold project in the Midas gold camp in Elko county, Nevada, is surrounded by a number of large-scale operating mines.