Dryden Gold to Relog and Resample Historic High-Grade Drill Core at Gold Rock
Dryden Gold to Relog and Resample Historic
High-Grade Drill Core at Gold Rock
Vancouver, British Columbia--(Newsfile Corp. - May 9, 2024) -
Dryden Gold Corp. (TSXV: DRY) (OTC
Pink: DRYGF) ("Dryden Gold" or the "Company")
is pleased to announce its plans for the 2024
spring and summer work program. The program will consist of a focused relogging and re-assaying of
historic core and from the known high-grade zones in the Gold Rock Camp. The program will also
include systematic field exploration at the newly acquired Cross River property based on geologic and
geophysical interpretation. The primary focus of the relogging program is on the Big Master gold system
but will include other strategic areas particularly emphasizing the known high-grade zone.
Specifically,
the program will examine mineralization within the sheared volcanic units comprising the newly identified
hanging wall and footwall structures. These structures surround the Big Master 1 ("BM1") and Big Master
2 ("BM2") vein structures (Figure 1). Previous operators selectively sampled based on an interpreted
bias that veins were the only host of gold mineralization. Dryden Gold complete sampled the phase 1-4
drill program and has started to
define the mineralized hanging wall and footwall zones.
The relogging
and resampling program's objective is to get a better understanding of the true width and grade of
mineralization adjacent to the main BM1 and BM2 vein structures and provide additional insight into the
controls on the mineralization.
Hanging Wall and Footwall Intercepts
In the
Phase 1 & 2 Dryden Gold drill program
, hole KW-23-007 was collared in the historically defined
high-grade shoot and returned multiple mineralized intercepts including:
34.00 g/t gold over 0.80
meters
from 100 m down hole in the hanging wall of the BM2 and
20.93 g/t gold over 0.69 meters
from
144 m down hole including
36.70 g/t gold over 0.39
meters in the footwall of the BM2, confirming the
high-grade potential of the hanging wall and footwall on the BM2 gold system. (see
press release dated
Feb 21, 2024
).
In Phase 4
, hole KW-24-009, a 400-meter step-out from the known high-grade zone, four
zones of mineralization in the Big Master gold system were identified where it is interpreted that the
mineralized zones area converging. As drilling intersected the BM2 vein structure, which returned
3.17
g/t gold
over
4.00 meters
including
19.34 g/t gold over 0.65 meters
a footwall zone was also defined
that returned
1.38 g/t gold over 6.65 meters including 10.50 g/t gold over 0.80 meters
. This drill
hole also intersected mineralization in a previously defined hanging wall zone and in the BM1 vein
structure at depth (see press release dated
April 24, 2024
). Similar mineralized intercepts were also
identified in
Phase 3 drilling
on the high-grade Elora Vein System.
"We feel there is a vast opportunity to better capture the potential of the entire mineralization footprint
in the Big Master gold system with this relogging and resampling program. Through our initial four
phases of drilling, it has become clear that the previous operator's selective sampling method
potentially under-represented the mineralization throughout the high-grade shoots on the Big Master
vein structures. We now understand that hanging wall and footwall zones of mineralization are present
in the Big Master and Elora gold systems with some significant grades. Similar to the initial re-logging
efforts at Great Bear, we see an opportunity to gain deeper insights into the high-grade mineralization
found throughout the Gold Rock Camp,"
stated Trey Wasser, Dryden Gold's CEO.
Figure 1 - Cross section of holes Dryden Gold holes KW-23-007, -006, -016, -017, -018 (left) and
Dryden Gold holes KW-24-009, KW-23-010 and KW-24-014 (right)
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9776/208520_b88ee12954134a52_001full.jpg
Relogging and Resampling Program
Dryden Gold is planning a systematic relogging and resampling program focused on the known high-
grade zones on the Big Master gold system. The historic drill core was stored on the Gold Rock property
and is in good condition for future work. The initial data from these holes has been digitized and included
in Dryden's 3D lithology model but during this interpretation coupled with new drill holes completed by
Dryden, it became apparent that more work was needed to understand the width of mineralization all
along the Manitou-Dinorwic Deformation Zone.
Data from the relogging and subsequent assaying will be
used to further refine and update the mineralization, lithology and structure model for the region which in
turn will be used for future drill targeting. The Company is currently working on securing a new facility will
have a large, heated core shack, core cutting room and ample secured storage and is located near Gold
Rock. All historic, current and future drill core will be consolidated to this new location.
The program will also include the zones of interest on the newly acquired Cross River claims within the
Gold Rock Camp. The Company has recently located a significant amount of historic data and core in
the field. This Cross River core will be included in the relogging program at Gold Rock which has an
active exploration permit.
"We are very excited to get boots back on the ground and continue to build the high-grade gold story
in the Dryden Gold District. Establishing a new operations facility will allow us to consolidate
thousands of meters of historic core currently stored throughout the Gold Rock Camp. We feel that the
results from our 2023-2024 four-phase drill program gave us valuable data and understanding of the
true potential of this high-grade orogenic system. Relogging and re-assaying of the historic core not
only has the chance to expand the known gold mineralization but will also provide valuable geological
data on the structure and controls within the system,"
commented Maura Kolb, Dryden Gold's
President.
Strategic Field Program in the Gold Rock Camp
During the summer exploration program of 2023, Dryden engaged Mira Geoscience to complete a 3D
inversion of the airborne geophysics over the entire Gold Rock Camp which resulted in the creation of a
geological model and subsequent exploration targets for the area. This work was completed during the
2023 field season allowing Dryden limited time to systematically explore these targets on surface.
The 2024 program is planned to consist of mapping and sampling with a preferential focus on high-
priority areas from these geophysical targets including the newly acquired Cross River property. The
Cross River claims host the highest-grade historic mine in the region, the Queen Alexandria Mine, which
reported average grades of 32.30 g/t gold
1
and displayed several geophysical anomalies during the 3D
inversion analysis. The Company will also be permitting an area north of the patented land specifically
focusing on the extension of the Big Master and Elora structures within the Gold Rock camp.
District Wide Field Program
Dryden Gold's resource pipeline includes preliminary work on claims outside of Gold Rock in 2024. The
Company has budgeted and is currently planning additional field work and geophysical modeling at its
Hyndman and Sheridon properties. Details of the district work program will be fully explained in a
subsequent press release.
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.
1.
Church, C. 2023.
NI 43-101 Technical Report Dryden Gold Project, Kenora and Patricia Mining
Divisions, Ontario.
1317223 BC and Dryden Gold NI 43-101 report, 280 pp.
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 traded on the OTC Pink Sheets under
the symbol 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 First Nations support and 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.
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