Dryden Gold Reports Record High-Grade Gold at Elora Project, Gold Rock Camp of 30.72 g/t Gold over 5.70 Meters
Dryden Gold Reports Record High-Grade Gold
at Elora Project, Gold Rock Camp of 30.72 g/t
Gold over 5.70 Meters
Vancouver, British Columbia--(Newsfile Corp. - October 8, 2024) -
Dryden Gold Corp. (TSXV: DRY)
("Dryden Gold" or the "Company")
has revealed a major finding at its Elora Project in the Gold Rock
Camp, reporting 30.72 g/t gold over 5.70 meters, including its highest-ever value
of 313.00 g/t over
0.55 meters
from hole KW-24-017. These results showcase the project's potential to generate
significant shareholder value and position Dryden Gold as a significant player in the Ontario gold
exploration space.
A video summary of today's drill results can be found
here
.
Highlights:
Hole KW-24-017 intercepted 30.72 g/t gold over 5.70 meters, including its highest-ever intercept
of 313.00 g/t over 0.55 meters (Table 1).
Phase 5 drilling has been completed with results pending.
This phase consisted of nine holes
totaling 1,598 meters focused on the depth expansion at Elora and Big Master 1 gold systems and
infill drilling at Big Master 2.
A video summary of today's results can be found
here
.
Hole KW-24-017 was strategically planned to test the depth potential of the Elora system and marked
the first drill hole of Dryden Gold's Phase 5 drill program, consisting of nine holes totaling 1,598 meters.
The program specifically targeted the gold-rich Elora, Big Master 1, and Big Master 2 gold systems,
aiming to expand known mineralization in these high-potential zones.
"These results from the Elora gold system marks a significant milestone for Dryden Gold. Intersecting
30.72 g/t gold over 5.70 meters, including 313.00 g/t over 0.55 meters, strongly validates our
exploration strategy and geological interpretations. These high-grade intercepts highlight the depth
potential at Elora and within the broader Gold Rock Camp. These orogenic systems tend to have very
deep roots with grades increasing at down plunge. As we advance through Phase 5 of our drill
program, we are excited to continue to test deeper intercepts as well as identify additional high-grade
shoots in the Gold Rock Camp,"
stated Trey Wasser, CEO of Dryden Gold.
Table 1. Elora Drill Results
Target Area
Drillhole
From
To
Length (m)*
Grade (g/t Au)
Elora
KW-24-017
192.00
197.70
5.70
30.72
Including
195.05
195.60
0.55
313.00
*Reported intervals are drilled core lengths; assay values are uncut
The Elora Gold Structure
Four holes have been completed to test the extension of the Elora gold system along the high-grade
plunge.
Hole KW-24-008 reported earlier this year returned multiple intercepts of both quartz veining and
sulphide mineralization returning
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.
Hole KW-24-017 reported here, intersected mineralization 30 meters deeper and 45 meters along strike
of hole KW-24-008 (Figure 1).
The zone intersected in hole KW-24-017 is located at 220 meters true
depth and consisted of pyrite mineralization and quartz veins within sheared volcanics. Adjacent to the
mineralization zone a felsic dyke was observed which is hypothesized to be a correlated to the gold
bearing event and was observed in the majority of the high-grade holes in the Gold Rock Camp.
Two
additional holes (KW-24-024 and KW-24-025) were drilled as part of the Phase 5 program focused on
the plunge extension of hole KW-24-017 with assays pending.
Figure 1 - Long section of the Elora structure
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9776/225927_97ab93c8b43e291b_001full.jpg
Historically, the Elora Gold Structure was host to two mines that lie directly north of the current drilling.
The Elora-Jubilee Mine was approximately 300 meters north and the Laurentian Mine approximately 1
km north, of current drilling. The Laurentian Mine was the most productive mine in the entire Kenora
Mining District and recovered 19,950 tons of ore at 14 g/t gold to 146 meters depth
1
.
Both of these
mines represent excellent targets for next drill program. As seen in Figure 2, the Laurentian Mine occurs
at one of the interpreted "east-west" structures like the four high-grade shoots that have been identified
to date.
Figure 2 - Plan map of Gold Rock Camp with mineralized structures
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9776/225927_97ab93c8b43e291b_002full.jpg
Continued Exploration
Core cutting and sample processing continues for the Phase 5 Drill Program. The team has just
wrapped up summer field mapping and surface samples have been processed and shipped to the lab
as of last week. The relogging of historic regional core is ongoing by the Dryden Gold Geology team. For
details of the Phase 5 program follow the
link
to technical information on our website.
1
Sabina, Ann P. (1991) Rocks and minerals for the collector, Sudbury to Winnipeg. Miscellaneous report 49. Geological Survey of Canada.
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. Select samples were analyzed using
metallic screens.
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 traded on the OTCQB ("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 acknowledges all
Indigenous Peoples and that it is operating on the traditional homelands of the Wabigoon Lake Ojibway
Nation and Eagle Lake First Nation. 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 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.
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
.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/225927