Vancouver, British Columbia--(Newsfile Corp. - August 12, 2024) - Dryden Gold Corp. (TSXV: DRY) (OTCQB: DRYGF) ("Dryden Gold" or the "Company") is pleased to provide an update on its Phase 5 drill program at its Gold Rock Project, Dryden Ontario.
Highlights:
- Visible gold has been observed multiple times in the recently completed diamond drill hole KW-24-017 focused on the Elora area of the Gold Rock Project (Figure 1).
- Hole KW-24-017 was designed as a follow up hole down-plunge from hole KW-24-008 completed in Q1 of 2024 by Dryden Gold which returned 14.10 g/t gold over 7.54 meters (click here).
- Hole KW-24-017 intercepted the Elora mineralized zone approximately 30 meters deeper and 45 meters along strike from hole KW-24-008. The true depth is approximately 165 meters from surface. The mineralized zone appears to be of similar width to KW-24-008 and visible gold has been observed multiple times in the un-cut core.
The Phase 5 drill program is ongoing, with approximately 1,300 meters planned. This drill program will follow up on the high-grade shoots discovered in the Elora and Big Master gold systems. The Elora down-plunge testing has been favourable. In addition Phase 5 will follow-up on hole KW-23-009A on the Big Master 1 ("BM1") vein structure which returned 26.11 g/t gold over 3.16 meters including 79.80 g/t gold over 0.33 meters (click here). Hole KW-23-009A targeted the intersection of two generations of fault structures theorized to control the high-grade shoots in the Gold Rock Camp. Another target for this program will be to expand the high-grade on the Big Master 2 ("BM2") based on Dryden's interpretation of the high-grade gold controls.
Trey Wasser, CEO of Dryden Gold commented on the drill program, "The multiple occurrences of visible gold in diamond drill hole KW-24-017 at the Elora area of our Gold Rock Project are very encouraging. This follow-up hole, designed to build the down-plunge and expand the strike-length of the high-grade results from hole KW-24-008 earlier this year, underscores the exciting potential of the Elora system. Our spring 2024 drill program was designed to learn the structural controls of the high-grade gold and expand the footprint of the Gold Rock Camp. We were very successful and expanded the known mineralization to over 1km and the number of high-grade shoots to 5- on 3 separate vein structures. The summer drill program is designed to follow-up on our best results and expand the known high-grade zones. The fall drill program will focus on Elora north of the Kenwest Patents and targets developed by our re-logging efforts and our summer field program."
Figure 1 - Visible gold as observed in hole KW-24-017 at the Elora area of the Gold Rock Project
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Gold Rock Camp
The Gold Rock Camp area extends approximately 25 km along strike of the Manitou-Dinorwic deformation zone and is centrally located in the Dryden Gold land package. This region consists of historic mining and drilling and represents a brownfields opportunity for Dryden Gold. Geologically, this area is hosted by mafic volcanic flows that were intruded by syn-deformational felsic dykes with orogenic gold occurrences largely occurring within approximately 5-10 km of major east and north-east trending deformation zones.
Within the Gold Rock Camp in the Elora gold system, visible gold was observed in KW-24-017 starting at a depth of 195.35 m in mafic volcanic units within and on the contacts of quartz veinlets. This zone was observed on the upper contact of a felsic dyke and the mineralization zone in this hole is found approximately 45 m along strike south-west of hole KW-24-008. Holes KW-24-017 and KW-24-008 were drilled from the same setup with hole KW-24-017 oriented at 325 degrees for a total depth of 260 m and hole KW-24-008 oriented at 340 degrees for a total depth of 254 m. Dryden Gold is in the initial stage of understanding the true extent of Elora and currently this area is open along strike to the north-east and at depth. Historic drilling and mining would indicate that the Elora mineralized zone begins at surface. Dryden will continue to test Elora in this drill program and additional step-out drilling is planned for the fall.
Qualified Person
The technical disclosure in this news release has been reviewed and approved by Maura J. Kolb, M.Sc., P.Geo., President of Dryden Gold and a Qualified Person as defined by National Instrument 43-101 of the Canadian Securities Administrators.
Analytical Laboratory and QA/QC Procedures
All sampling completed by Dryden Gold Corp. within its exploration programs is subject to a Company standard of internal quality control and quality assurance (QA/QC) programs which include the insertion of certified reference materials, blank materials, and a level of duplicate analysis. Drill samples from the 2023 program were sent to Activation Laboratories, with sample preparation and analysis in Thunder Bay, where they were processed for gold analysis by 50-gram fire assay with an atomic absorption finish and over limits determined by Fire Assay with a gravimetric finish. Activation Laboratories systems conform to requirements of ISO/IEC Standard 17025 guidelines and meets assay requirements outlined for NI 43-101.
ABOUT DRYDEN GOLD CORP.
Dryden Gold Corp. is an exploration company focused on the discovery of high-grade gold mineralization listed on the TSX Venture Exchange ("DRY") and traded on the OTC Pink Sheets under the symbol DRYGF. The Company has a strong management team and Board of Directors comprised of experienced individuals with a track record of building shareholder value through property acquisition and consolidation, exploration success, and mergers and acquisitions. Dryden Gold controls a 100% interest in a dominant strategic land position in the Dryden District of Northwestern Ontario. Dryden Gold acknowledges all Indigenous Peoples and that it is operating on the traditional homelands of the Wabigoon Lake Ojibway Nation and Eagle Lake First Nation. Dryden Gold's property package includes historic gold mines but has seen limited modern exploration. The property hosts high-grade gold mineralization over 50km of potential strike length along the Manitou-Dinorwic deformation zone. The property has excellent infrastructure, enjoys First Nations support and proximity to an experienced mining workforce.
For more information go to our website www.drydengold.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-Looking statements include, but are not limited to, statements with respect to future development plans; future acquisitions; exploration programs; and the business and operations of Dryden Gold. Forward-Looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be "forward-looking statements." Forward-Looking statements are subject to a variety of risks and uncertainties which could affect actual events or results to differ from those reflected in the forward-looking statements including, the potential for delays in exploration or development activities; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in Dryden Gold's and the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are conditioned against attributing undue certainty to forward--looking statements. These forward-looking statements are made as of the date hereof and Dryden Gold and the Company do not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from Dryden Gold's and the Company's expectations or projections.
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