- Dynasty Gold (TSXV:DYG) confirmed Tuesday that it has extended mineralization at its Thundercloud Property in Ontario
- Results extend mineralization in one drill hole from 51 to 73.5 metres
- Remaining drilling for this year will focus on testing for lateral and vertical extensions of higher-grade gold mineralization
- Dynasty Gold is up 30 percent, trading at $0.32 at 12:04 pm ET
Dynasty Gold (TSXV:DYG) confirmed Tuesday that it has extended mineralization at its Thundercloud Property in northwestern Ontario.
The Vancouver-based precious metals explorer released assay results from two previously unsampled core sections on the project’s Pelham Zone.
Those results extend mineralization in one drill hole from 51 to 73.5 metres, with an average grade of 8.42 grams per tonne of gold.
Recalculating data from a second hole extended mineralization there from 189 to 223.5 metres, with an average grade of s to 5.98 grams per tonne.
Remaining drilling for this year will focus on testing for lateral and vertical extensions of higher-grade gold mineralization. It will also look to extend the Pelham zone to the east and west.
“We are pleased to receive these new assays from unsampled sections of the previously reported holes which significantly increase the grade and length of intersected mineralization. The property has the geological characteristics consistent with an orogenic gold system,” the company’s chief executive, Ivy Chong, said in a statement.
“Historical drilling was primarily focused on near surface mineralization. Our last drilling program was designed to start testing the depth potential with our deepest holes drilled to date. We are excited to start our next drill program. This will give us a chance to expand on the known high-grade gold zones and test further at depth.”
The company is also continuing to develop its projects in Nevada.
Dynasty Gold is up 30 percent, trading at $0.32 at 12:04 pm ET.
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