Dynasty Gold Expands Length and Grade of Mineralization at Thundercloud Property in Ontario


Dynasty Gold (TSXV: DYG) has achieved significant results at its Thundercloud property in Ontario, increasing the length and grade of mineralization through sampling previously unsampled sections of two drill holes from its first-ever drill program.

In hole DP22-03, the longest intercepts with the highest grades drilled to date, mineralization has been extended by 22.5 meters to reach 73.5 meters at an average grade of 8.42 g/t gold. This includes a 6.5-meter section with a grade of 72.23 g/t gold. Similarly, the recalculated assays in DP22-02 have improved the average grade from 189 meters to 223.5 meters to 5.98 g/t gold. Both holes were drilled in open areas down-dip from a previous drill hole, TC07-02, which returned a significant intercept of 1.5 meters of 16 g/t gold.

The mineralization observed in the 2022 drill holes at Thundercloud demonstrates the potential continuation of high-grade gold mineralization in quartz-veined mafic metavolcanic rocks. Dynasty Gold plans to focus its 2023 drill program on testing the lateral and vertical extensions of the deposit, as well as extending the Pelham zone to the east and west.

Situated in the central Wabigoon greenstone belt of western Ontario, the Thundercloud property shares geological similarities with the prolific Abitibi belt to the east. The area is host to large-scale gold mining operations, including New Gold’s Rainy River mine and Evolution Mining’s Red Lake gold mine.

Previous drilling at Thundercloud primarily focused on near-surface mineralization in a small part of the Pelham zone. An NI 43-101 report based on historic drilling, predominantly conducted by Teck Resources and Laurentian Goldfields, estimated an inferred resource of 182,000 ounces at a grade of 1.37 g/t gold.

Dynasty Gold’s CEO, Ivy Chong, highlighted the property’s geological characteristics consistent with an orogenic gold system. She stated that the company’s recent drilling program aimed to explore the depth potential, with the deepest holes drilled to date.

Following the positive results, Dynasty Gold’s stock saw a 22.0% increase, bringing the Vancouver-based gold explorer’s market capitalization to approximately C$18.6 million. The promising findings at Thundercloud further enhance the company’s potential in the region and its commitment to advancing the project’s exploration and development.

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