Dryden Gold Provides Update on its Gold Rock Drill Program - More Visible Gold at Elora
Dryden Gold Provides Update on its Gold Rock
Drill Program - More Visible Gold at Elora
Vancouver, British Columbia--(Newsfile Corp. - September 9, 2024) -
Dryden Gold Corp. (TSXV:
DRY) (OTCQB: DRYGF) ("Dryden Gold" or the "Company")
is pleased to provide an update on the
Phase 5 drill program at its Gold Rock Project, Dryden Ontario. Drilling and logging began in late July
and was completed last week with core cutting and sample analysis ongoing.
This drill program was
designed to follow up on the high-grade shoots discovered on the Elora and Big Master Gold Systems.
In the Phase 5 drill program, the Company drilled nine holes totalling approximately 1,600 meters.
Highlights:
Three new Elora drill holes follow up on previously released result from drill hole
KW-24-
008
of 14.10 g/t gold over 7.54 meters
Visible gold in Elora drill holes KW-24-017 and KW-24-024 below 200 meters
The Elora Gold System
Three holes have been completed to test the extension of the Elora gold system along the high-grade
plunge. Earlier this year, Dryden Gold completed drill hole
KW-24-008
which targeted the depth
extension of historic drilling. Multiple intercepts of both quartz veining and sulphide mineralization
returned
14.10 g/t gold over 7.54 meters
including 43.81 g/t gold over 1.42 meters and 92.10 g/t gold
over 0.30 meters. On
August 12, 2024
, the Company announced that
visible gold
was observed
multiple instances in the first follow-up hole at Elora,
KW-24-017
. This hole intersected a mineralized a
zone of similar width that is 30 meters deeper and 45 meters along strike from hole
KW-24-008
. The
zone intersected in hole
KW-24-017
is located at 220 meters true depth. Two additional holes have now
been completed down plunge and both intercepted a similar sized mineralized zone with visible gold
observed in hole
KW-24-024
(see Figure 1). Assays are pending for these three drill holes at Elora.
"
We are extremely pleased with what we are seeing and learning from the Elora drilling and the
modeling of historic data. The Elora Gold System has over two kilometers of known strike length.
Between the historic mine sites and our fieldwork, we now have several additional targets at Elora for
our fall drill program. It is exciting to see these intercepts at depth as Archean systems in Ontario tend
to have very deep roots. The team is diligently refining their knowledge of the controls for these high-
grade shoots to improve prediction and facilitate the expansion of these structures. These are
extremely exciting times for Dryden Gold
", stated Trey Wasser, CEO and Director of Dryden Gold
Corp.
Figure 1: Long section showing grade x width interpretation on the Elora gold system. Section shows
the area where the new drilling has occurred - see Figure 2 for location on plan map.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9776/222620_fdad7519f4b2b9d9_001full.jpg
Figure 2: Plan map of Gold Rock showing Elora and Big Master gold systems with comparison of
regional mines with similar geological settings.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9776/222620_fdad7519f4b2b9d9_002full.jpg
Strike Length & Down Plunge Potential
Elora saw a significant amount of historic exploration from the 1980's to early 2000's. The technical team
has now re-interpreted the historic data. The results show a high-grade shoot, starting at surface,
extending to over 220 meters and open at depth. Two historic mines, the Elora-Jubilee and Laurentian
Mines, are located north of the current drilling. The Elora-Jubilee Mine lies directly north. The Laurentian
Mine is approximately 1 km further north (Figure 2) and was the most productive mine in the entire
Kenora Mining District. 20,000 tons of ore at 14 g/t gold to 140 meters depth.
1
were recovered at
Laurentian
. The Gold Rock Camp
was historically mined to very shallow depths, while similar deposits
in the region continue to depths of over a kilometer (Figure 2).
The team is currently working on drill plans
and permitting for an expanded fall drill program. The goals of the fall drill campaign will be to: (1) test
near surface, and down dip extension on the identified Elora high-grade shoot (2) test along strike on the
Elora gold system where fieldwork has identified favourable settings for other high-grade shoots to occur
(3) step out drilling to test the Laurentian Mine area along strike.
Big Master Gold System
Phase 5 drilling has just been completed on two high-grade shoots on the Big Master Gold System. Drill
core is being logged and cut. In addition, the re-logging program is currently being focused in this area.
The Company will be providing an update shortly.
Upcoming Conferences and Events
Dryden Gold will be attending the
Precious Metals Summit in Beaver Creek
that is taking place
September 10-13, 2024. Management will be available to take meetings in the lobby of the Park Hyatt
Resort; investors are encouraged to contact
to arrange a time.
Management will also be presenting at the
Noble Capital Markets Virtual Equity Conference
, taking
place September 25-26, 2024, as well as hosting one-to-one meetings with interested investors.
Additional information will be made available soon.
For more information about future conferences and roadshows that management will be participating in,
please visit our
website
.
1.
Blackburn, C.E., 1981, Boyer Lake - Meggisi Lake Area, District of Kenora, Ontario Geological Survey, Report 202, 139p.
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
Maura Kolb, M.Sc., P. Geo., President
Email:
Phone: 807-632-2368
Ashley Robinson, Investor Relations
Email:
X:
@DrydenGold
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 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 affect actual events or results to
differ from those reflected in the forward-looking statements including, 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 conditioned 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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/222620