Trading Symbols: TSX-V: DYG
VANCOUVER, Oct. 3, 2016 /CNW/ - Dynasty Gold Corp. (TSX-V: DYG) (FWB: D5G) (OTC: DGDCF) ("Dynasty" or the "Company") is pleased to announce that the new gold target delineation work has begun on its 100% owned Golden Repeat property. Located 16 kilometers west of the historic Midas Mine, which is owned by Klondex Gold Mines Ltd in the prolific Midas gold camp in Elko County, Nevada, the Golden Repeat property is part of the Northern Nevada Rifts volcanic province. The property is bordered to the North, East and South by the Clover property, which is owned by Carlin Resources, a subsidiary of Waterton Global Mining, based in Toronto. The property is easily accessible by Interstate 80 and the Twin Creeks and Midas Mine roads which lie 13 kilometers southeast of Newmont's giant Twin Creeks gold mine.
The property was first drilled by Romarco Minerals in 1997-1998. Subsequently, Dynasty Gold completed a follow up exploration and drill program in 2011 to test the Midas-style low sulfidation gold-silver mineralization found in the adjacent Clover property. Some of the best intercepts on the Clover property included 14.78 g/t of gold and 25.28 g/t of silver over 7.6 meters , including 54 g/t of gold and 27.9 g/t of silver over 1.52 meters in hole CV006. Hole CV 12 intersected 20.17 g/t of gold over 3.05 meters.
Romarco's drill holes tested the projected extension northward of the north-northwest trending Clover Fault zone, which is interpreted to have fed gold-silver mineralization found to the south on the Clover property. Several intercepts of gold-silver mineralization were found in the Romarco drill holes, including 2.41 g/t gold and 12.6 g/t silver over 1.5 meters in hole GR-05c at 25 to 26.5 meters from the surface. These data indicated that the Clover Fault zone of mineralization continues North on to the Golden Repeat property.
Dynasty's holes were drilled to test the mineralization outcropping to the east of the Clover Fault zone. All three holes successfully intercepted gold-silver mineralization of a style similar to that found on the Clover Property. Dynasty's third hole (DG-3) also intersected 3.4 g/t gold and 44.6 g/t silver over 1.7 meters. This interval was part of a thicker zone of altered and mineralized basalt that averaged 1.14 g/t gold, 9.0 g/t silver over 12.2 meters at a depth of 130 meters. The other two holes also encountered sections of alteration and pyritic mineralization (please refer to news release of November 22, 2011). The results from the Dynasty's drill holes further demonstrated the extension of the Clover Fault zone mineralization northward on to the property.
The geologic mapping and sampling program underway is designed to document the extension of the fault zones northward from the Clover property boundary, through the Golden Repeat property and along the Clover veins trend. This is to delineate new drill targets to test the high-grade Midas-style gold-silver mineralization found on the Clover property.
The Company's consultant geologist, Richard R. Redfern, M.Sc. and Certified Professional Geologist, a 'qualified person' for the purposes on National Instrument 43-101 Standards of Disclosure for Mineral Properties, has verified and approved the information contained in this news release, and evaluated the interpretations it contains.
About Dynasty Gold Corp.
Dynasty Gold Corp. is a Canadian gold exploration company currently engaging in property review, acquisition, exploration and development. 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.
SOURCE Dynasty Gold Corp.
For further information: For additional information please contact Ivy Chong: Phone: 604.633.2100, Email: [email protected]