Dynacor Announces a New Major Exploration Campaign on its High Grade Gold Tumipampa Project
MONTREAL, QUEBEC–(Marketwired – Feb. 25, 2015) – Dynacor Gold Mines Inc. (TSX:DNG)(OTC:DNGDF) (Dynacor or the Corporation) is pleased to announce that based on the discovery of high grade gold structures at Tumipampa and the very promising exploration results obtained over the past 24 months it has decided to fast track the exploration of this property (see the following Press Releases: July 16, 2013 – Dynacor Strikes High Gold Grades at Tumipampa; August 8, 2014 – Tumipampa channel sampling in the disseminated gold zone; November 17, 2014 – Dynacor Surface Rock Sampling on the IP Chargeability Anomalies 1 and 2 Return High Gold Assays of 35.58 g/t Au, 3.35 g/t Au, 2.51 g/t Au and 2.28 g/t Au at Tumipampa).
This new 18 month Exploration Campaign will involve both underground excavation of cross-cuts, drifts and chimneys and underground drilling as well as diamond drilling of priority targets from the surface and the continuation of the sampling program of the six (6) chargeability anomalies in the disseminated gold zone at Tumipampa.
Underground Exploration and Drilling
- Extension of Cross-cut 330NW towards the Rosa, Tumi and Sorpresa veins – this will involve the excavation of more than 500 meters of the main gallery as well as the excavation of chimneys and drifts;
- Excavation of a new Cross-cut 485NW which will be located 40 meters below and 250 meters to the Northeast of the entrance to Cross-cut 330NW;
- Total underground excavation adding up to more than 2000 meters; and
- Drilling from underground drilling stations of 26 priority targets adding up to a total of 6,000 meters. The main targets are the Manto Dorado and the Sorpresa, Tumi, Rosa and A veins and their associated mineralized structures.
Surface Exploration and Drilling
- Dynacor is planning to continue its surface geochemical sampling program in the disseminated gold zone in order to collect surface channel samples from the areas over all six (6) geophysical anomalies;
- Also in this zone, the Company is planning to drill seven (7) holes adding up to a total of approximately 1,500 meters from the surface targeting the six (6) geophysical anomalies and their associated structures.
- Finally, Dynacor is planning to carry out a new geophysical survey to cover areas of the Tumipampa property that have not yet been explored or mapped.
Jean Martineau is very optimistic on the potential of the Tumipampa property and has stated “we have decided that based on the results that we have obtained so far and the high grade gold mineralized structures that we have discovered we need to accelerate the exploration of this incredible property. We trust that with all the underground exploration and drilling planned for the next 18 months we should be able to begin to define gold, silver and copper resources at Tumipampa. Furthermore, it is important to underline that the exploration methodology we have chosen i.e. excavation of cross-cuts (2.5mx3.0m), drifts and chimneys should enable us to begin mining much sooner than in the case of a traditional approach which involves an exploration campaign based on extensive and systematic diamond drilling from the surface. Exploration results will be published on a regular basis in the coming quarters”.
This press release has been read and approved by Alonso Sanchez, qualified person for the company, geologist affiliated with the American Institute of Professional Geologists (AIPG).
ABOUT DYNACOR GOLD MINES INC.
Dynacor is a gold ore-processing and exploration company active in Peru since 1996. The Company differentiates itself from pure exploration companies as it generates income from its wholly owned ore processing plant. Dynacor’s basic share count at 36.2 million outstanding is in the lowest quartile of the resource sector. The Company’s assets include three exploration properties, including the advanced high-grade gold Tumipampa property and an operating 85,000 TPA gold and silver ore processing mill at Huanca. The Company’s strength and competitive advantage comes with the experience and knowledge it has developed while working in Peru. Its pride remains in maintaining respect and positive work ethics toward its employees, partners and local communities.
FORWARD LOOKING INFORMATION
Certain statements in the foregoing may constitute forward-looking statements, which involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Dynacor, or industry results, to be materially different from any future result, performance or achievement expressed or implied by such forward-looking statements. These statements reflect management’s current expectations regarding future events and operating performance as of the date of this news release.
Shares outstanding: 36 245 111
Dynacor Gold Mines Inc. (TSX:DNG)
President and CEO
Dynacor Gold Mines Inc.
514-393-9000 Ext. 228
Dynacor Gold Mines Inc.
604.492.0099 M: 604.562.1348