Dynacor Strikes High Gold Grades at Tumipampa
July 16, 2013 — Montreal, Quebec (Source: Marketwired) — Cross Cut Intercepts high grade gold mineralization over 4.85 m assaying 36.48 g/t Au, 1.49 oz/t Ag and 0.43% Cu including 0.75 m with 111.5 g/t Au, 5.14 oz/t Ag and 1.13% Cu
Dynacor Gold Mines Inc. (TSX:DNG) (Dynacor or the Company) is pleased to announce the results of the sampling in the cross cut on the Manto Dorado structure that is oriented N58°E dipping 22°NW. The cross cut, oriented N 72°W, intercepted at 135 m the Manto Dorado structure which has a width of 23.0 meters. Channel sampling was carried out on the north wall, south wall, and on the roof of the cross cut. High gold grades and polymetallic mineralization were obtained over 7.40 meters (true width) on the north and the south walls and over 4.85 m on the roof of the cross cut (see Table 1 and Figure 1, below).
The roof sampling returned an average grade of 36.48 g/t Au, 1.49 oz/t Ag, 0.43% Cu, 0.08% Pb and 0.12% Zn over 4.85 m true width (uncut grades) with one sample returning a maximum gold value of 111.5 g/t Au with 5.14 oz/t Ag, 1.13% Cu, 0.26% Pb, and 0.23% Zn over 0.75 m true width.
The north wall sampling returned an average grade of 15.58 g/t Au, 0.80 oz/t Ag, 0.020% Cu, 0.09% Pb, and 0.20% Zn over 7.40 m true width (uncut grades) and this includes an intersection of 4.90 m (true width) grading 22.35 g/t Au, 1.15 oz/t Ag, 0.29% Cu, 0.11% Pb and 0.25% Zn (uncut grades).
The south wall sampling returned an average grade of 14.35 g/t Au, 0.37 oz/t Ag, 0.03% Cu, 0.03% Pb and 0.06% Zn over 7.40 m true width (uncut grades) and this includes an intersection of 4.75 m (true width) grading 21.26 g/t Au, 0.54 oz/t Ag, 0.04% Cu, 0.04% Pb and 0.05% Zn (uncut grades).
Table 1. Results from cross cut sampling of the Manto Dorado.
Get our daily investorintel update
Sample Analysis and QA/QC procedures
The samples are sent to the internationally certified laboratory Certimin S.A. for analysis and checks of mineralized sections are made by sending reject samples to ALS Chemex Peru and to SGS del Peru S.A.C. Samples were assayed by ICP analysis and for assays greater than 10 g/t Au a gravimetric FAA finish assay is used. Standards, blanks and duplicates are used in the sampling process as part of the QA/QC for the sampling in the cross cut. Additional check samples were sent to SGS del Peru S.A.C for carrying out spot check analysis verifications. The program, sampling, collection of samples and the QA/QC is implemented and followed by Alonso Sanchez, Chief Geologist for Dynacor Gold Mines, B.Eng and QP under the American Institute of Professional Geologists (AIPG).
Mineralization and Historical Results
The mineralization in the Manto Dorado is mainly high grade gold mineralization (Au) and polymetallic mineralization (Ag-Cu-Pb-Zn) with the presence of pyrite, chalcopyrite, galena and sphalerite occurring in a shear structure of quartz-carbonate with sericite. The Manto Dorado structure was previously intercepted in a 2008 drilling program with results of 12.80 g/t Au, 0.46 oz/t Ag over 1.40 m in drill hole HDD03-2008, and 23.80 g/t Au, 0.09 oz/t Ag over 1.20 m in drill hole HDD06-2008. The recent results from the sampling in the cross cut and the historical results demonstrate the continuity and wide mineralization potential in the Manto Dorado.
Northwest of the Manto Dorado other veins were intercepted in 2002-2003 and 2008 drilling campaigns. The Rosa Vein was intercepted in drill hole TCD6 grades 12.25 g/t Au and 0.023 oz/t Ag over 1.30 m, in drill hole HDD07 grades 13.80 g/t Au and 0.09 oz/t Ag over 0.65 m and in drill hole HDD11 grades 6.33g/t Au and 0.073 oz/t Ag over 2.76 m.
Further Drilling Results on Zone 4 of the skarn
The first results from the drilling campaign targeting Zone 4 of the Tumipampa skarn were reported in the press release dated May 7, 2013 “Drilling at Tumipampa reveals high levels of anomalous polymetallic grades for Ag, Cu, Mo and Zn“. Subsequently, four (4) additional holes were drilled in Zone 4 of the skarn. Drill HDD-03-2013 and HDD-04-2013 did not intercept any mineralized zones and the cores were not analysed. Core assays from HDD-05-2013 and HDD-06-2013 returned low levels anomalous values for Au and Ag in some of the mineralized segments made up of altered monzonites. The Company’s Chief geologist and his team will analyse and compile all the exploration and drilling data from this zone in order to define the next steps in the exploration of the skarn.
Q3/Q4 Exploration Outlook
The next steps in the Company’s 2013 Tumipampa exploration campaign is to continue advancing the cross cut to extend to 300 m and the objective is to set up underground drilling bays to drill the recently intercepted Manto Dorado and at 300-meter mark to drill the Rosa vein and the “A” vein.
Jean Martineau, President and CEO of Dynacor has commented on the exceptional results obtained on the Manto Dorado: “The Company has been patiently exploring its Tumipampa property since 2002 and management as well as our geologists have always been persuaded that there was a considerable potential for a discovery. The amazing high gold grades found in the Manto Dorado have vindicated our belief in this property. We will now begin our underground drilling exploration campaign centred on the Manto Dorado and the Rosa and A veins. I would also like to thank our shareholders for their patience and support. I am sure that this discovery will in the future add considerable value to your Company”.
This Press Release has been read and approved by Alonso Sanchez, P. Eng. and Chief Geologist for Dynacor Gold Mines. He acts as the qualified person (“QP”) for the Company and is a geologist affiliated to the American Institute of Professional Geologists (AIPG).
A figure is available at the following address: http://media3.marketwire.com/docs/Dynacor_fig1_Tupipampa.pdf.
ABOUT DYNACOR GOLD MINES INC.
Dynacor is an ore processing and gold exploration and mining company active in Peru through its subsidiaries since 1996. The Company differentiates itself from pure exploration companies as it also generates income and cash flow from its wholly owned ore processing plant in Peru. The Company’s assets include five exploration properties, including the Tumipampa property, as well as its 220 tpd gold and silver ore processing mill at Acari. Dynacor’s mill produces gold from the processing of ore purchased from ore producers from all over Peru. Dynacor’s strength and competitive advantage comes with the experience and knowledge the Company has developed while working in Peru. Its pride remains in maintaining respect and positive work ethics toward its employees, partners and local communities.
FORWARD LOOKING INFORMATION
Certain statements in the foregoing may constitute forward-looking statements, which involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Dynacor, or industry results, to be materially different from any future result, performance or achievement expressed or implied by such forward-looking statements. These statements reflect management’s current expectations regarding future events and operating performance as of the date of this news release.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>