Vancouver, British Columbia--(Newsfile Corp. - October 23, 2024) - Dryden Gold Corp. (TSXV: DRY) (OTCQB: DRYGF) ("Dryden Gold" or the "Company") is pleased to highlight historic results and details from its summer 2024 field campaign at the Sherridon Project located in the southern region of its land holdings in Dryden Ontario (Figure 1).
Dryden has compiled and begun reinterpreting historical drilling, sampling, and geophysical data to develop additional near and long-term exploration targets. Following this compilation, the company completed a phased mapping program across the entire Sherridon Property and is currently re-logging selected historic drill holes.
Highlights from the Sherridon Property:
- A total of 96 historic surface samples were collected on the property with multiple intercepts over 30 g/t and with five samples over 100 g/t from quartz veins within variably sheared and silicified pillowed mafic volcanic rocks (Table 1).
- Highest grade surface sampling returned 617.00 g/t gold.
- A total of 26 historic drill holes were drilled in 2010 and 2012 focused on an IP anomaly with the first program intersecting visible gold in seven of the ten holes (Table 2).
- Dryden Gold is in the process of relocating and re-logging these holes with additional sampling occurring on these selectively sampled historic holes.
- Dryden Gold completed a comprehensive mapping and sampling program over the Sherridon Property in the summer of 2024 with assay results pending.
- Dryden Gold recently announced the strategic expansion of its land holdings in this area with an additional property purchase (News Release - Oct 21, 2024)
"Our summer fieldwork at the Sherridon Property has provided us with an exciting opportunity to revisit and expand on historic results in this highly prospective region. The historical data, including several high-grade intercepts over 30 g/t gold and assays as high as 617 g/t from surface sampling, underscore the tremendous potential of the property. Combined with our recent acquisition of the Shear Gold Claims, strategically located near our Sherridon project, we are significantly expanding our exploration footprint and are well-positioned to build a robust near-and long-term strategy for unlocking further value," stated Trey Wasser, CEO of Dryden Gold.
Figure 1 - Map displaying Dryden Gold land package with the Sherridon project highlighted in the southwest section of the map.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9776/227498_667dad38642b6ba2_001full.jpg
Summary of Historic Sampling and Drilling
In 2009, a total of 96 historic samples were collected, with 55 returning assays of 0.25 g/t Au or higher, the threshold for anomalous values. Among these, 40 samples exceeded 1 g/t Au, and 23 of those surpassed 5 g/t Au. The samples were primarily collected from quartz veins within an IP anomaly, hosted in sheared and silicified pillowed mafic volcanic rocks. Mineralization consisted of pyrite and pyrrhotite +/- chalcopyrite with visible gold noted multiple times.
Historic drilling was completed in three phases between 2010 and 2012 and consisted of 26 holes. The first phase of the program was designed to test IP and prospecting anomalies with seven of ten holes intersecting visible gold. The second and third phase were designed based on data from the previous phases, surface samples and IP anomalies. Mineralization in these historic holes was predominately observed in quartz veins within variably sheared and altered pillowed mafic volcanic rocks. The dominant sulfides included pyrite, pyrrhotite, and trace amounts of chalcopyrite, with biotite and chlorite alteration also observed.
Summary of Dryden Gold 2024 Summer Field Work & Re-Logging
Dryden Gold completed a comprehensive mapping program over the entirety of the Sherridon Property during its summer 2024 field program. The mapping focused on enhancing the understanding of the geological controls on the Property with a specific emphasis on the structural and geochemical controls on mineralization and alteration. Select samples were collected as representative lithological units and are currently being run for specialty geochemical analysis. This will provide a more comprehensive understanding the regional and local controls on mineralization to ultimately provide more short and long-term exploration targets for Dryden Gold.
Dryden Gold is in the process of relocating all historic drill holes from the Sherridon Property to its core logging facility, where re-logging and sampling of selected holes is currently underway. Previous operators selectively sampled the historic holes, but with the improved understanding gained from recent field mapping, Dryden is conducting a more thorough re-logging and sampling process to obtain deeper analytical insights from these drill holes.
Figure 2 - Map of Sherridon Property highlighting historical surface samples and historical drilling with intercepts over 10 g/t gold.
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Table 1 - Summary of historic significant assays (over 5 g/t gold) from surface samples collected on the Sherridon Property as reported by Manitou Gold1. Samples that returned over 100g/t gold are bolded. Note: coordinates are in NAD83/Zone 15.
| Sample ID |
UTM East |
UTM North |
Rock Code |
Au g/t |
| H179834 |
513941 |
5454773 |
Mafic volcanic with quartz vein |
5.50 |
| H179835 |
513942 |
5454765 |
Mafic volcanic with quartz vein |
123.00 |
| H180001 |
513929 |
5454806 |
Quartz vein |
184.50 |
| H180002 |
513930 |
5454806 |
Quartz vein |
176.50 |
| H180005 |
513901 |
5454788 |
Mafic volcanic |
22.60 |
| H180010 |
514167 |
5454556 |
Mafic volcanic |
14.50 |
| H928256 |
513930 |
5454809 |
Mafic volcanic with quartz vein |
37.40 |
| H928275 |
514165 |
5454558 |
Mafic volcanic with quartz vein |
49.60 |
| H928280 |
514112 |
5454570 |
Mafic volcanic with quartz vein |
9.25 |
| H928283 |
513934 |
5454772 |
Quartz vein |
98.80 |
| H928284 |
513934 |
5454772 |
Quartz vein |
36.40 |
| H928286 |
513860 |
5454747 |
Mafic volcanic with quartz vein |
122.50 |
| H928297 |
512602 |
5455306 |
Mafic volcanic with quartz vein |
9.15 |
| H928298 |
512599 |
5455304 |
Mafic volcanic with quartz vein |
30.20 |
| H928303 |
514214 |
5454603 |
Mafic volcanic |
22.90 |
| H928306 |
513932 |
5454785 |
Mafic volcanic with quartz vein |
21.20 |
| H928330 |
513929 |
5454807 |
Mafic volcanic with quartz vein |
17.50 |
| H928331 |
513926 |
5454805 |
Mafic volcanic with quartz vein |
7.46 |
| H928332 |
513899 |
5454787 |
Mafic volcanic with quartz vein |
9.74 |
| H928349 |
513941 |
5454767 |
Quartz vein |
617.00 |
| H928350 |
513942 |
5454770 |
Quartz vein |
31.00 |
| H928351 |
513940 |
5454765 |
Quartz vein |
62.10 |
| H928352 |
513942 |
5454765 |
Quartz vein |
54 |
Table 2 - Summary of historic assays from historic drilling samples* collected on the Sherridon Property as reported by Manitou Gold2. Intervals over 10 g/t Au are bolded.
| Hole ID |
|
From (m) |
To (m) |
Width (m) |
Au g/t |
| SH-10-04 |
|
46.30 |
46.80 |
0.50 |
2.10 |
|
53.70 |
54.30 |
0.60 |
9.40 |
| SH-10-05B |
|
34.50 |
35.30 |
0.80 |
19.70 |
|
48.00 |
48.50 |
0.50 |
1.20 |
|
54.80 |
57.00 |
3.20 |
0.90 |
| Including |
55.25 |
55.80 |
0.50 |
7.60 |
|
71.70 |
74.10 |
2.40 |
5.70 |
| Including |
71.70 |
72.20 |
0.50 |
25.30 |
| SH-10-06 |
|
47.50 |
49.00 |
1.50 |
1.80 |
|
54.00 |
57.00 |
3.00 |
1.10 |
|
111.50 |
112.10 |
0.60 |
1.60 |
|
60.00 |
61.50 |
1.50 |
3.90 |
| SH-10-07 |
|
60.00 |
60.50 |
0.50 |
11.00 |
| SH-10-08 |
|
116.10 |
116.70 |
0.60 |
10.80 |
| SH-10-09 |
|
30.20 |
31.10 |
0.90 |
1.00 |
|
59.30 |
60.10 |
0.80 |
1.00 |
|
85.70 |
86.20 |
0.50 |
1.20 |
|
113.60 |
114.00 |
0.50 |
1.50 |
| SH-10-10 |
|
3.00 |
4.00 |
1.00 |
5.70 |
|
15.60 |
16.10 |
0.50 |
4.80 |
|
64.20 |
65.10 |
0.90 |
1.00 |
| SH-10-11 |
|
37.40 |
38.30 |
0.90 |
1.00 |
|
56.00 |
56.60 |
0.50 |
1.20 |
|
69.30 |
69.80 |
0.50 |
1.10 |
| SH-10-12 |
|
59.30 |
62.30 |
3.00 |
7.70 |
| Including |
60.50 |
61.00 |
0.50 |
46.00 |
|
100.50 |
101.00 |
0.50 |
14.30 |
|
104.50 |
107.00 |
2.50 |
2.90 |
| Including |
104.50 |
105.30 |
0.80 |
8.00 |
| SH-10-14 |
|
88.10 |
88.70 |
0.60 |
1.70 |
| SH-10-15 |
|
78.50 |
81.00 |
2.50 |
4.60 |
| Including |
79.30 |
79.80 |
0.50 |
23.00 |
|
102.00 |
102.50 |
0.50 |
2.40 |
|
114.30 |
127.00 |
12.80 |
1.20 |
| Including |
114.30 |
119.00 |
4.80 |
2.60 |
| Including |
114.30 |
115.00 |
0.70 |
11.50 |
|
140.00 |
140.50 |
0.50 |
2.70 |
|
157.60 |
158.10 |
0.50 |
1.80 |
|
201.00 |
202.00 |
1.00 |
5.00 |
| SH-10-16 |
|
166.00 |
171.50 |
5.50 |
1.30 |
|
170.00 |
170.50 |
0.50 |
10.30 |
|
180.50 |
181.50 |
1.00 |
1.90 |
|
186.00 |
187.00 |
1.00 |
5.70 |
| SH-10-17 |
|
176.50 |
178.00 |
1.50 |
3.60 |
|
192.00 |
194.75 |
2.75 |
7.10 |
| Including |
192.00 |
192.50 |
0.50 |
38.70 |
|
221.50 |
223.50 |
2.00 |
1.50 |
|
258.85 |
260.50 |
1.65 |
3.00 |
| SH-10-18 |
|
66.00 |
69.00 |
3.00 |
1.30 |
| SH-12-24 |
|
18.80 |
21.90 |
3.10 |
4.70 |
| SH-12-25 |
|
71.20 |
76.70 |
5.50 |
15.40 |
| Including |
74.00 |
75.00 |
1.00 |
83.10 |
| *Intervals are in core length |
1 Taras, T. & Kettles, K., Assessment Report on the Manitou Gold Inc. Sherridon Property 2009 Prospecting Program, Dryden Ontario., 2011.
2Taras, T., Assessment Report on the Manitou Gold Inc. Sherridon Property 2010-2012 Diamond Drill Program Dryden, Ontario, 2012.
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. Select samples were analyzed using metallic screens. Activation Laboratories systems conform to requirements of ISO/IEC Standard 17025 guidelines and meets assay requirements outlined for NI 43-101.
Historic samples were analyzed by ALS Chemex, an ISO 9001:2000 accredited company. The historic operator delivered the samples to ALS's sample preparation facility in Thunder Bay. Samples were dried, crushed to #10 mesh (<2 mm), and then a 250 g split was pulverized to 75 microns. 100 g of pulverized material was then sent to ALS's analytical facility in Vancouver, British Columbia. Gold was analyzed by fire assay with an AAS finish, using 30 g samples. ALS has an internal QA/QC procedure of regularly re-analyzing selected samples, as well as inserting internal standards and blanks.
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 on the OTCQB marketplace ("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'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 collaborative relationships with First Nations communities and benefits from 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: the acquisition of the Property, receipt of corporate and regulatory approvals, issuance of common shares; 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 cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings including receipt of TSX Venture Exchange approval for the acquisition of the Property; risks related to environmental regulation and liability; 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 cautioned 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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