Dynasty Gold Applied for 3000 Meters Drill Permit for the Strike Property in Stewart BC and Provides an Exploration Update
June 12 2013 - 9:30AM
Marketwired Canada
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
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Dynasty Gold Corp.
Ms. Ivy Chong
604.633.2100
ichong@dynastygoldcorp.com
www.dynastygoldcorp.com
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