Dryden Gold Intersects 8.93 g/t Gold Over 12.45 Meters Including 32.96 g/t Gold Over 2.73 Meters at Elora
Dryden Gold Intersects 8.93 g/t Gold Over
12.45 Meters Including 32.96 g/t Gold Over
2.73 Meters at Elora
Vancouver, British Columbia--(Newsfile Corp. - November 12, 2024) -
Dryden Gold Corp. (TSXV:
DRY) (OTCQB: DRYGF)
("
Dryden Gold
" or the "
Company
") is pleased to announce results on the
Elora Gold System in the Gold Rock Camp. The Phase Five drill program completed late this summer,
was designed to follow up on the high-grade shoot discovered on the Elora Target (see
March 25, 2024
,
October 8,
2024
news release).
Highlights:
Hole KW-24-024
intercepted the mineralized zone at approximately 190 meters from surface and
returned
8.93 g/t gold over 12.45 meters,
including 32.96 g/t gold over 2.73 meters
. In
addition, this hole intercepted a hanging wall structure that returned
1.67 g/t Au over 2.75 meters,
including 8.41 g/t gold over 0.43 meters
. This is Dryden Gold's deepest hole to date and is
Dryden's widest and most consistently disseminated high-grade intercept at Elora. A video
summary of today's results can be found
here
.
Hole KW-24-024 followed up on previously released holes KW-24-008 and KW-24-017 which
returned
14.10g/t gold over 7.54m
and
30.72 g/t gold over 5.70m
, respectively.
Dryden Gold has already begun a follow up drill campaign on the Elora Gold System based on
these results. This program will focus on expanding the down-plunge potential and strike expansion
at Elora.
"We are pleased to see this wide intercept of disseminated high-grade gold as we test down plunge at
Elora. These results strengthen our understanding of the controls of high-grade gold mineralization
and have now also revealed a gold-bearing hanging wall structure. We have already shown that the
Gold Rock Camp has significant near surface high-grade gold and now we are beginning to show that
this is also a typical Archean Gold System with deep roots. High-grade mineralization at Red Lake
Mine extends to almost 2 km and, given the geological similarities, we hope to show the Gold Rock
Camp has similar depth potential,"
stated Trey Wasser, CEO of Dryden Gold.
Table 1: Dryden Gold - New Elora Drill Holes
Target Area
Drillhole
From
To
Length (m)*
Grade (g/t Au)
Elora
KW-24-024
92.00
94.75
2.75
1.67
Including
93.07
93.50
0.43
8.41
209.00
221.45
12.45
8.93
Including
218.12
220.85
2.73
32.96
Elora
KW-24-025
79.00
118.40
39.40
0.35
Including
97.87
101.00
3.13
1.39
and including
112.00
118.40
6.40
0.96
196.85
207.00
10.15
0.34
Including
202.05
204.65
2.60
1.24
*Reported intervals are drilled core lengths; assay values are uncut
In the Phase Five drill campaign, three holes were drilled at Elora following up on drill hole
KW-24-008
,
which intercepted
14.10 g/t Au over 7.54 meters
that was drilled earlier this year (see
March 25, 2024
news release). The first hole of the Phase Five drill program, KW-24-017, returned
30.72 g/t gold 5.70
meters
including the
highest-ever value intersected by Dryden Gold
of
313.00 g/t over 0.55
meters
(See
October 8,
2024 news release).
Hole KW-24-024
was drilled approximately 30 meters
below hole
KW-24-017
. The final hole of the program was drilled south of hole
KW-24-017
, but
mineralization was impacted by several dykes cutting through the mineralized zone. Unfortunately,
although mineralization was present in hole
KW-24-025
, there were several dykes noted at the target
depth suggesting that they were the reason for the lack of mineralization. Both holes intersected hanging
wall mineralization before the Elora zone. The Geological team is pleased to see parallel mineralization
at the Elora Target, much like what has been observed in the Big Master Gold System.
Figure 1: Elora Target Contoured Long section
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9776/229577_e9271389c4ca59b0_001full.jpg
Dryden Gold is focused on growth of the Gold Rock Camp project but will also continue to advance and
review regional exploration targets on the resource pipeline. Dryden Gold has a large 70,000-hectare
land package in the Dryden area with District scale exploration potential. The Company has continued
early-stage exploration programs on its Hyndman project and Sherridon projects, as well as within the
Gold Rock Camp.
UPCOMING MARKETING EVENTS
Dryden Gold is pleased to announce that it will be participating in the upcoming
121 Mining Investment
London Conference
taking place on November 14-15, 2024,
Swiss Mining Institute's Zurich conference
happening November 20-21, 2024, and the
New Orlean's Investment
conference on November 20-23,
2024.
Trey Wasser, CEO & Director will be meeting new investors in Europe and Maura Kolb, P. Geo.,
President will be attending and presenting in New Orleans. Investors can look forward to hearing about
the Company's recent achievements from the 2023-2024 drill program, as well as an exploration update
on the continued drill campaign at the Gold Rock project, the summer field campaign designed to follow-
up on Dryden Gold's best drill results and expand on the known high-grade zones, as well as the ongoing
relogging of historic regional core by the Dryden Gold Geology team. Dryden Gold welcomes the
opportunity for attendees to reach out to management with any questions and review our updated
corporate presentation
here
.
Qualified Person
The technical disclosure in this news release has been reviewed and approved by Maura J. Kolb, M.Sc.,
P.Geo., President of Dryden Gold and a Qualified Person as defined by National Instrument 43-101 of
the Canadian Securities Administrators.
Analytical Laboratory and QA/QC Procedures
All sampling completed by Dryden Gold Corp. within its exploration programs is subject to a Company
standard of internal quality control and quality assurance (QA/QC) programs which include the insertion
of certified reference materials, blank materials, and a level of duplicate analysis. Drill samples from the
2023 program were sent to Activation Laboratories, with sample preparation and analysis in Thunder
Bay, where they were processed for gold analysis by 50-gram fire assay with an atomic absorption finish
and over limits determined by Fire Assay with a gravimetric finish.
Activation Laboratories systems
conform to requirements of ISO/IEC Standard 17025 guidelines and meets assay requirements outlined
for NI 43-101.
ABOUT DRYDEN GOLD CORP.
Dryden Gold Corp. is an exploration company focused on the discovery of high-grade gold
mineralization listed on the TSX Venture Exchange ("DRY") and on the OTCQB marketplace ("DRYGF").
The Company has a strong management team and Board of Directors comprised of experienced
individuals with a track record of building shareholder value through property acquisition and
consolidation, exploration success, and mergers and acquisitions. Dryden Gold controls a 100% interest
in a dominant strategic land position in the Dryden District of Northwestern Ontario. Dryden Gold's
property package includes historic gold mines but has seen limited modern exploration. The property
hosts high-grade gold mineralization over 50km of potential strike length along the Manitou-Dinorwic
deformation zone. The property has excellent infrastructure, enjoys collaborative relationships with First
Nations communities and benefits from proximity to an experienced mining workforce.
For more information go to our website
www.drydengold.com
.
CONTACT INFORMATION
Trey Wasser, CEO
Email:
Phone: 940-368-8337
Ashley Robinson, Investor Relations
Email:
X:
@DrydenGold
Maura Kolb, M.Sc.. P. Geo., President
Email:
Phone: 807-632-2368
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
.
Cautionary Note Regarding Forward-Looking Statements
The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking
statements include, but are not limited to, statements with respect to : the acquisition of the Property, receipt of corporate and regulatory approvals,
issuance of common shares; future development plans; future acquisitions; exploration programs; and the business and operations of Dryden Gold.
Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of
amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future
events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not
anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that
certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact
and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual
events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain
adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks
associated with mining and exploration; risks related to the maintenance of stock exchange listings including receipt of TSX Venture Exchange
approval for the acquisition
of the Property; risks related to environmental regulation and liability; the potential for delays in exploration or
development activities; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and
continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and
expenses; the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related
to commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in
Dryden Gold's and the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying
assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against
attributing undue certainty to forward--looking statements. These forward-looking statements are made as of the date hereof and Dryden Gold and
the Company do not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ
materially from Dryden Gold's and the Company's expectations or projections.
UNITED STATES ADVISORY.
The securities referred to herein have not been and will not be registered under the United States Securities Act of
1933, as amended (the "
U.S. Securities Act
"), have been offered and sold outside the United States to eligible investors pursuant to Regulation S
promulgated under the U.S. Securities Act, and may not be offered, sold, or resold in the United States or to, or for the account of or benefit of, a
U.S. Person (as such term is defined in Regulation S under the United States Securities Act) unless the securities are registered under the U.S.
Securities Act, or an exemption from the registration requirements of the U.S. Securities Act is available. Hedging transactions involving the
securities must not be conducted unless in accordance with the U.S. Securities Act. This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities, nor shall there be any sale of securities in the state in the United States in which such offer, solicitation
or sale would be unlawful.
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https://www.newsfilecorp.com/release/229577