Dynasty Gold sampled up to 7.2 g/t of gold and 4395 g/t of silver in the strike property, Stewart, British Columbia and completes due diligence
Thursday, Nov 22, 2012
Dynasty Gold Corp. (TSX VENTURE:DYG)(FRANKFURT:D5G) ("Dynasty" or the "Company") is pleased to announce results of a successfully completed field program of due diligence sampling on the Strike Property (the "Property"). Pursuant to the binding property agreement disclosed in the September 26, 2012 press release, the Company is proceeding to acquire a 100% interest in the Silver Crown mineral tenures that constitute the gold-silver-copper-lead-zinc Strike Property, located in the prolific Stewart Mining Camp, about 22 kilometers north of Stewart in northern British Columbia. The Property is accessible by the Long Lake Road located east of the Big Missouri mine.
The due diligence was designed to test a number of gold-silver and base metal mineralized zones and to identify potential drill targets. The mineralized zones coincide with geophysical anomalies that extend through much of the northern part of the Property. Of those anomalies, a 700 meter-long northwest trending DEEP-EM conductor, identified in 1990, was the most persistent. In addition to gathering 12 rock samples chipped from the mineralized zones, a 77-sample soil sample survey was completed in the northern part of the Property.
Rock sample S-12-AR-01, taken from the north portion of the DEEP-EM conductor axis, returned 7.2 g/t in gold and 4395 g/t in silver as well as a significant zinc value. Located about half kilometer to the southeast, rock sample S-12-AR-03B returned 2.98 g/t in gold and 2450 g/t in silver, and is a new anomalous showing not seen in previous sampling campaigns.
The soil survey straddled the DEEP-EM conductor axis and consisted of 77 samples gathered at 50 meter intervals along 9 grid lines spaced 100 meters apart. The area sampled was selected on the basis of previous geological, geochemical and geophysical data (from 1989 to 1995). The 2012 survey returned comparatively high anomalous values of gold up to 290 ppb and 60.5 ppm of silver as well as anomalous values in copper, lead and zinc.
The high gold, silver and base-metal assays from the 2012 sampling campaign generally corroborate those recorded by previous operators. These results, in conjunction with a detailed study of the rock, soil and drill core data from previous exploration efforts are expected to result in the identification of potential drill targets to intercept possible precious and base metal enriched veins and potential strata-bound polymetallic mineralization at depth, in the northern part of the Property.
All rock and soil samples were submitted to Pioneer Laboratories Inc., in Richmond, BC for 30-element ICP analysis.
Mr. Andris Kikauka, P.Geo., supervised the 2012 fieldwork on the Property and had custody of the samples until they were submitted for analysis. The technical content of this press release was reviewed by Mr. Kikauka, a Qualified Person as defined by National Instrument 43-101.
Subject to the Exchange's approval, the Company can acquire a 100% interest in the Property by making a staged payment of $149,000 and issue 2.5 million shares over a four-year period to the Property owner. The Vendor retains two percentage Net Smelter Return ("NSR"), each percentage NSR can be purchased for $1 million.