Dynasty Gold Mobilized Drill Rig to Golden Repeat Property in Nevada
22 9월 2011 - 10:30PM
Marketwired
Dynasty Gold Corp. (TSX VENTURE: DYG)(FRANKFURT: D5G) ("Dynasty" or
the "Company") is pleased to report that DeLong Construction, Inc.
has been engaged to perform phase one drilling of up to 1230 meters
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 ("BLM").
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 1 ppm gold and a
significant 1000 ppm arsenic. Arsenic is a good indicator of
high-grade gold. The fault-vein strikes N 60 degrees E, 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 favorable for the development
of mineralized quartz veins. The favorable rhyolite unit underlies
the anomalous Romarco drill intercepts with up to 2.41 ppm gold.
Dynasty plans to drill down dip of Romarco's intercepts to target a
deeper intercept within the favorable unit.
Based in Winnemucca, Nevada, DeLong Construction, Inc. has been
active in the exploration industry for over forty years and
providing drilling services since 1978 with extensive experience in
drilling conditions throughout Nevada.
Richard Jones, P. Geo 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 Richard Jones, a Qualified
Person under the definition of National Instrument 41-101.
About Golden Repeat Property, Nevada, USA
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 g/t), 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 10-15 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 km2 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 3 million ounces of gold
reserves at a grade of 7.56 g/t gold, and over 4 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% 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 km 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 Electro Magnetics) were recommended and four
coincided with significant geochemistry anomalies.
About Dynasty Gold Corp.
Dynasty Gold Corp. is a Canadian gold exploration company
currently focused on gold exploration in North American. Two active
exploration programs in Nevada US and Quebec, Canada are underway.
For more information on the Company and its projects, please refer
to the website www.dynastygoldcorp.com.
ON BEHALF OF THE BOARD OF DYNASTY GOLD CORP.
Ivy Chong, President & CEO
This press release contains certain "forward-looking statements"
that involve a number of risks and uncertainties. There can be no
assurance that such statements will prove to be accurate and actual
results and future events could differ materially from those
anticipated in such statements.
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.
Contacts: Dynasty Gold Corp. Vancouver Office: Ivy Chong
604.633.2100 ichong@dynastygoldcorp.com www.dynastygoldcorp.com
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