Dynasty Gold Announces Opinaca D 2011 Exploration Program
03 Août 2011 - 3:30PM
Marketwired
Dynasty Gold Corp. (TSX VENTURE: DYG)(FRANKFURT: D5G) ("Dynasty" or
the "Company") is pleased to announce 2011 exploration program on
its Opinaca D property in the James Bay Region of Northern Quebec.
The Opinaca D property is located 14 km north northwest of
Goldcorp's Eleonore deposit and shares many geological similarities
as Eleonore deposit. The Company signed a binding Letter of Intent
with Azimut Exploration for the property on December 13, 2011
(please refer to December 21, 2010 press release for details).
Prior work conducted by Eastmain Resources on the property
includes 3,093 soil geochemistry samples, 785 grab rock samples,
and a helicopter-borne magnetic and VTEM survey covering 1,047
line-km. The soil samples revealed up to 7.3 g/t of gold. Several
strong arsenic anomalies in lake-bottom sediment cover a large part
of west, south and southeast side of the property. Eastmain's work
has also identified a number of sediment-hosted gold targets,
comparable to Goldcorp's Eleonore deposit in geological setting.
The Eleonore deposit currently 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.
Dynasty's geological team was mobilized to a camp close to the
property, La Sarcelle camp on July 27. The goal of this season's
field work is to confirm drill targets previously identified by
Eastmain Resources. The team will focus on 1:5000 geological and
structural mapping of six priority target areas on the west
corridor of the property and on the south southeast side of the
property which is the closest to Eleonore Mine. The emphasis will
be on four areas where geophysics and significant geochemistry
anomalies pointed to the same drill target areas.
The summer exploration program also includes further soil and
rock sampling. The sampling objectives are to increase sampling
density on existing and known targets to close in on potential
drill location. The pre-drilling field work is expected to be
completed by the third week of August. Depending on geochemistry
assay results and geological interpretation of data from mapping,
the Company may initiate a drill program if drill locations can be
confidently placed as a result of the field work currently
underway.
The geological team is led by Michel Proulx, P. Geo. M.Sc, a
member of the Ordre des geologues du Quebec. Mr. Proulx has over 30
years of experience in exploration, and managed many exploration
projects in Quebec for mining and exploration companies including
Agnico-Eagle Mines Ltd, Virginia Mines and Osisko Mining
Corporation. Mr. Proulx's expertise is in prospection and
compilations, geological and geochemical survey, diamond drill
management and core logging.
"We are very pleased with Michel's involvement, Michel's
regional knowledge and past work experience in the area has added
tremendous value and advantage to our program," commented Ivy
Chong, the President and CEO. "We are also very grateful to
Goldcorp's help in providing accommodation for our crew, and share
many of their amenities. Their support has given us a huge lift in
getting the program started on time, and under budget."
About Golden Repeat Property
The Company started exploration program on its other property,
Golden Repeat in Nevada on July 7. Please refer to July 13, 2011
press release for details.
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 14g/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 done on the property was in 2006.
About Opinaca D Property
The Opinaca D property consists of 188 claims over a surface
area of 98 km2. It is situated in the emerging Eleonore gold camp
in the James Bay region of Quebec, 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.
Extensive surface exploration work done by Eastmain Resources
between 2005 and 2008 has identified a number of sediment-hosted
gold targets, similar to Goldcorp's Eleonore deposit in geological
setting. Twelve drill targets were identified by VTEM and four
coincided with significant geochemistry anomalies.
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.
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.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Contacts: Dynasty Gold Corp. - Vancouver Office Ivy Chong
604.633.2100 604.484.3559 (FAX) ichong@dynastygoldcorp.com
www.dynastygoldcorp.com
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