Dynasty Gold Applied for 3000 Meters Drill Permit for the Strike Property in Stewart BC and Provides an Exploration Update
June 12, 2013 — VANCOUVER, BRITISH COLUMBIA (Source: Marketwired) — Dynasty Gold Corp. (TSX VENTURE:DYG)(FRANKFURT:D5G) (“Dynasty” or the “Company”) is pleased to provide an update on the Strike property exploration activities since its acquisition in December 2012. The Strike Property (the “Property”) is located in the prolific Stewart Mining Camp, about 22 kilometers north of Stewart in northern British Columbia. More than 700 mineral deposits and showings have been discovered in a large variety of rocks and structures in the area, including the multi-million ounce gold deposits in the former Eskay Creek mine, Silbak Premier mine and the Big Missouri mine. Recently, dozens of base metal and precious metal deposits have been discovered in the area.
The company has spent the last several months compiling some of the historical drill data into cross sections and 3D views. This effort, along with maps of geological and other historical information, has highlighted areas of interest to focus this summer’s exploration work.
In addition, an application for a 3000 meter drill permit has been filed in early spring.
The recent compilation has revealed massive sulphide and significant surface mineralization exposure in the central and central-south part of the Property where numerous polymetallic and precious metal veins are exposed in faulted rocks intruded by numerous dikes. Past exploration work was mostly concentrated in this area. The data has also provided an appreciation of the complex geology in this area.
In the north part of the Property, a DEEP-EM geophysical survey, completed in 1990, identified approximately a kilometer long north-northwest trending conductor centered by an anomalous zone at least 600 meters long and up to 300 meters wide. That anomaly, attributed to potential VMS-type mineralization, is open to north-northwest and is largely untested. The DEEP-EM data is currently being re-interpreted using modern processing techniques with an anticipated outcome of more distinct drill targets to pursue in the upcoming exploration season.
Summary of Past Exploration Work
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The Property is underlain by Jurassic sedimentary and volcanic rocks of the Hazelton Group-the same rocks that hosted the mineralization at the former Eskay Creek mine. The anomaly is attributed to possible VMS-type mineralization at a sediment-volcanic contact. Two holes drilled in the area of the anomaly in 1993 were unsuccessful in reaching the volcanics but in 1995, a single hole did intersect the contact at a depth of 200 meters. That contact was marked by a pyritic, calcareous, graphitic and weakly cherty sequence containing trace galena and sphalerite. That sequence is interpreted as a favourable indicator of VMS mineralization along that contact.
Not only are the Hazelton rocks similar to those at Eskay Creek, closer to the Property, the former producers, Big Missouri (2 km west of the Property) and Silbak Premier mines (8 km south of the Property) are also hosted by the same Hazelton volcanics, but at a lower stratigraphic level. Big Missouri is considered to be a variety of VMS-type deposit, and the veins of the Silbak Premier share similar characteristics to mineralization targeted at the Strike Property.
In the central and central-south part of the Property, numerous mineralized exposures were mapped and both soil and geophysical anomalies were identified in field exploration conducted from 1989 to 1995. Nearly 3000 meters in 29 holes were drilled to test the exposed mineralization. Most holes were short, reaching to less than 150 meters in vertical depth and mineralization was successfully intersected over narrow intervals in some holes. However, neither the volcanics at depth nor all geophysical anomalies have been adequately tested by drilling.
For details of Property geology, please refer to September 26, 2012 press release. Larry Kornze has reviewed the contents of this press release, and is a Qualified Person under the guidelines of NI 43-101.
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.
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>