Ms. Ivy Chong reports
DYNASTY GOLD MOBILIZED DRILL RIG TO GOLDEN REPEAT PROPERTY IN NEVADA
Dynasty Gold Corp. has engaged DeLong Construction Inc. to perform phase one drilling of up to 1,230 metres at the Golden Repeat property. A drill rig was mobilized to the Golden Repeat property in anticipation of final drill permit approval by Bureau of Land Management in Nevada.
Dynasty plans to drill the outcropping quartz vein hosted in a fault-cutting basalt that was identified during the recent surface work. A sample taken from this outcrop returned one part per million gold and a significant 1,000 ppm arsenic. Arsenic is a good indicator of high-grade gold. The fault vein strikes 60 degrees northeast, an orientation that would usually be missed by previous Romarco drill holes because of the azimuth that was drilled.
The second drill location is on a separate structural target that was previously proposed by Yamana Gold. Drilling by Yamana Gold in 2007 and 2008 to the southeast of the property encountered high-grade anomalous gold intercepts in an altered rhyolite unit that extends to the northwest below the Golden Repeat property. This rhyolite unit appears to be more favourable for the development of mineralized quartz veins. The favourable rhyolite unit underlies the anomalous Romarco drill intercepts with up to 2.41 ppm gold. Dynasty plans to drill downdip of Romarco's intercepts to target a deeper intercept within the favourable unit.
Based in Winnemucca, Nev., DeLong Construction has been active in the exploration industry for over 40 years and providing drilling services since 1978 with extensive experience in drilling conditions throughout Nevada.
Richard Jones, PGeo, will supervise the drilling. He will also determine if a second drill hole is warranted at each of the two proposed drill locations before the rig leaves the property.
This press release is reviewed by Mr. Jones, a qualified person under the definition of National Instrument 41-101.
About Golden Repeat property, Nevada, United States
The Golden Repeat property consists of 49 claims located on the north slope of the Midas trough, along the Carlin trend, within the Northern Nevada rift. These claims host many geological similarities to the well-known Midas gold district. Ten miles to the east of the property is Newmont's Ken Snyder mine (6.41-million-ounce gold reserves as of 2007 at over 14 grams per tonne), an epithermal, bonanza-type gold-silver-bearing system. Additionally, three major sediment-hosted gold mines, Barrick's Getchell and Pinson mines and Newmont's Twin Creeks mine, lie 10 to 15 miles west of the property. Two distinct targets exist on the property. One is a volcanic-hosted epithermal occurrence, similar to Newmont's Ken Snyder deposit. The other is a sediment-hosted gold mineralization beneath the tertiary volcanic rocks. The property was drilled by Goldfields in 1992 to 1994 and Romarco in 1997/1998. The most recent work completed on the property was in 2006.
About Opinaca D property, Quebec, Canada
The Opinaca D property consists of 188 claims over a surface area of 98 square kilometres and sits on the Eastmain greenstone gold belt. The property is located about 14 km northwest of Goldcorp's Eleonore deposit. The Eleonore deposit hosts over three million ounces of gold reserves at a grade of 7.56 g/t gold and over four million ounces of inferred resources at a grade of over 10 g/t gold. Goldcorp is currently investing $1.4-billion to build an underground mine to produce 600,000 ounces of gold from 2014. The Eleonore mine will contribute 22 per cent of Goldcorp's total gold production. Dynasty's Opinaca D property will benefit from Goldcorp's infrastructure building in the area. In particular, a planned 60-kilometre road, providing access to the Eleonore property, will directly crosscut the Opinaca D property. Major access to the region includes a north-south paved highway (LG2) extending from Matagami to Radisson.
Extensive surface exploration work done by Eastmain Resources between 2005 and 2008 has identified a number of sediment-hosted gold occurrences, similar to Goldcorp's Eleonore deposit in geological setting. Ten drill targets identified by airborne VTEM (versatile time-domain electromagnetics) were recommended, and four coincided with significant geochemistry anomalies.
We seek Safe Harbor.