- Dynasty Gold (TSXV:DYG) reported final drill results from the Phase 1, 2023 drill program at its Thundercloud property in northwest Ontario
- The results were highlighted by drill hole DP23-10, which intersected a broad zone of 163.5 metres of 1.0 g/t at 33 metres from the surface
- Gold mineralization is primarily associated with disseminated to laminated to semi-massive bands of pyrite and lesser pyrrhotite, quartz, carbonates, chlorite, and secondary biotite
- Dynasty Gold opened trading at $0.19 per share
Dynasty Gold (TSXV:DYG) reported final drill results from the Phase 1, 2023 drill program at its Thundercloud property in northwest Ontario.
The Thundercloud property is in the Archean Manitou-Stormy Lakes Greenstone belt, 47 kilometres southeast of Dryden.
The results were highlighted by drill hole DP23-10, which intersected a broad zone of 163.5 metres of 1.0 g/t at 33 metres from the surface, including higher grade sub-zone of 63 metres at 2.1 g/t and high-grade intervals of 22.5 metres of 4.5 g/t, 7.5 metres of 8.8 g/t and 3 metres of 11.2 g/t together with sub-intervals of 1.5 metre each of 20.3 g/t and 28.3 g/t.
Source: Dynasty Gold Corp.
The team stated that this hole demonstrates widespread near surface mineralization in the Pelham Zone with multiple higher grade intervals. The two test holes drilled in the previously untested areas of West Pelham also returned mineralization at 21.7 and 45.0 metres from the surface.
The Pelham Zone hosts a historic NI 43-101 open-pit inferred resource of 182,000 ounces of gold at an average grade of 1.37 g/t.
Gold mineralization is primarily associated with disseminated to laminated to semi-massive bands of pyrite and lesser pyrrhotite, quartz, carbonates, chlorite and secondary biotite.
Drill result highlights
| Hole Number |
From (m) |
To (m) |
Interval (m) |
Avg. Grade
(g/t Au) |
| DP-23-10 |
33.0 |
196.5 |
163.5 |
1.0 |
| Including |
42.0 |
103.5 |
63.0 |
2.1 |
| Including |
52.5 |
75.0 |
22.5 |
4.5 |
| Including |
52.5 |
55.5 |
3.0 |
11.2 |
| Including |
52.5 |
54.0 |
1.5 |
20.3 |
| And |
67.5 |
75.0 |
7.5 |
8.8 |
| Including |
70.5 |
72.0 |
1.5 |
28.3 |
| DP23-W01 |
45.0 |
57.0 |
12.0 |
0.8 |
| DP23-W03 |
21.7 |
33.5 |
11.8 |
0.6 |
“We are pleased with Phase 1 drill results,” Ivy Chong, CEO of Dynasty Gold, said in a statement. “It indicates a strong potential for achieving an economic open-pit mineable resource in the making. The reported 10 holes in Phase 1 drilling have intersected a total of 741.6 metres of mineralization with average grades ranging from 1.0 g/t to 3.28 g/t. Hole DP23-10 demonstrated once again our success in expanding the near surface mineralization in the Pelham Zone. Over 90 per cent of the property is yet to be drilled, the potential to add tonnage and improve on grades are enormous in an area where there is excellent infrastructure to support mine development. The company is awaiting assay results of 5 holes drilled in October 2023 from our Phase 2 drilling program, and will report these results as soon as they are available.”
Dynasty Gold is focused on gold exploration in North America, with projects in Ontario and Nevada.
Dynasty Gold opened trading up 8.3 per cent at $0.19 per share.
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