CEO comment7.5 m @ 3.65 g/t AuDynasty Gold (TSXV: DYG) · Thundercloud (Pelham), Ontario
Dynasty sees Pelham growing at depth after deepest hole; CEO flags slow labs, tough market
Published · Ore Please
Dynasty Gold CEO Ivy Chong told Ore Please the deep hit at Pelham opens the deposit up for expansion, though the company does not yet know how far it goes.
“The confirmation of gold mineralization at depth effectively opens up the Pelham deposit for significant potential resource expansion.”
- The hit: DP26-07, the deepest hole yet at Pelham, ended in mineralization: 7.5 m of 3.65 g/t gold from 315.5 m, about 100 m below earlier drilling. Chong says mineralization extends below the existing resource, though we “don’t know the extent yet.”
- Next: subject to conditions, the company plans another 1,000–1,500 m of drilling in 3–4 step-out holes to extend the down-plunge mineralization cut by DP26-07. A key open question, she says, is whether the system is orogenic or VMS.
- Hurdles: slow lab turnaround is squeezing the design of the next program ahead of winter and slowing resource expansion. Raising money at a reasonable price is “challenging” in this market, but Dynasty is funded for the next round (over $2M in treasury after this year’s drilling commitment, per the release).
Thundercloud is 47 km southeast of Dryden in the Manitou-Stormy Lakes greenstone belt, northwest Ontario. True widths are not yet known.
Sources: Emailed comment from CEO Ivy Chong to Ore Please, Nov 7 · Dynasty Gold release, Nov 5
Comments are from the company in reply to an Ore Please request for comment, lightly condensed; quoted words are verbatim. Drill figures as reported by the company. Not investment advice. Today’s drill hits ›