Dynacor Extends a Drift and Excavates Two Raises in the Southwestern Zone of the Manto Dorado at Tumipampa
MONTREAL, QUEBEC–(Marketwired – April 12, 2016) – Dynacor Gold Mines Inc. (TSX:DNG)(OTC:DNGDF) (Dynacor or the Corporation) is pleased to announce continued positive underground exploration results on the southwestern zone of the highly mineralized Manto Dorado structure at Tumipampa (Peru).
- Excavation of a 30-meter long raise (Raise 105, see Figure 1) from the 8-meter mark in Drift 190SW to follow the vertical extension of the gold, silver and copper mineralisation in the Manto Dorado. Channel sampling in the first 14-meter segment found an average grade of 8.38 g/t Au, 1.84 oz/t Ag and 1.18 % Cu over a true width (TW) of 1.34 m;
- High grade channel samples from Raise 105 include: samples #10632 grading 72.24 g/t Au, 13.73 oz/t Ag and 4.99% Cu over a true width of 1.5 m and #10630 grading 21.17 g/t Au, 2.02 oz/t Ag and 2.24% Cu over a true width of 1.8 m;
- Extension of Drift 190NW in the Manto Nelly by 63 meters to the northwest in order to follow the mineralization in this recently discovered structure (see Table 1 below and press release dated 15 October 2015);
- Excavation of a 34-meter long raise (Raise 090, see Figure 1) to follow the vertical extension of the gold, silver and copper mineralisation in the Manto Nelly. Channel sampling in the first 12-meter segment found an average grade of 2.98 g/t Au, 0.88 oz/t Ag and 0.32% Cu over an average true width of 1.60 m; and
- High grade channel samples from Raise 090 include: samples #10561 grading 6.70 g/t Au, 0.88 oz/t Ag and 0.67% Cu over a true width of 1.4 m and #10559 grading 5.90 g/t Au, 0.65 oz/t Ag and 0.45% Cu over a true width of 1.5 m.
Background: At the 170-meter mark along cross-cut 330NW a 125-meter long by-pass gallery was excavated in order to reach the rich mineralization found in the southwestern extension of the Manto Dorado and intercepted by drill hole HDD-07-15. This 226.70-meter long hole first intercepted a split of the Manto Dorado structure at 143.4 m grading 3.99 g/t Au over a true width of 2.70 m including an assay of 8.58 g/t Au, 0.22 oz/t Ag and 0.34% Cu over a TW 0.61 m. This drill hole then intercepted at 155.0 m mark the Manto Dorado structure with grades of 10.21 g/t Au, 3.02 oz/t Ag, 0.96% Cu over a true width of 3.69 m including an assay of 42.14 g/t Au (uncut assay), 13.63 oz/t Ag, 3.70% Cu over a true width of 0.74 m (see Figure 1).
At the end of the by-pass a 19-meter long drift (Drift 190SW) was excavated into the Manto Dorado and 15 channel samples returned an average grade of 8.50 g/t Au, 1.95 oz/t Ag and 0.80% Cu over an average true width of 1.35 m including a channel sample assay of 23.46 g/t Au, 1.25 oz/t Ag and 1.70% Cu over a true width of 0.70 m (see Press Release dated October 15, 2015).
Raise 105 – Manto Dorado
From the 8-meter mark along Drift 190SW, a 30-meter long raise was excavated to follow the vertical extension of the gold, silver and copper mineralisation in the Manto Dorado. Thirty channel samples were taken in Raise 105 and analysed.
Channel sampling in the first 14-meter segment of Raise 105 found the following average grades: 8.38 g/t Au, 1.84 oz/t Ag and 1.18 % Cu over an average true width of 1.34 m. High grade channel samples included: samples #10632 grading 72.24 g/t Au, 13.73 oz/t Ag and 4.99% Cu over a true width of 1.5 m and #10630 grading 21.17 g/t Au (uncut assay), 2.02 oz/t Ag and 2.24% Cu over a true width of 1.8 m. Channel sampling in the second 16-meter segment of Raise 105 returned an average grade of 0.99 g/t Au, 0.37 oz/t Ag and 0.07% Cu over an average true width of 0.98 meters. The results are given in Table 1 and Figure 1.
Background: At the very end of Drift 190SW a new mineralized structure was discovered, the Manto Nelly orientated at N49°W. An 18-meter long drift (Drift 190NW) was excavated along the Manto Nelly and channel sampling returned an average grade of 4.80 g/t Au, 1.46 oz/t Ag and 0.80% Cu over an average true width of 1.50 m (see Press Release dated October 15, 2015).
Extension of Drift 190NW
In order to further follow the mineralization of the Manto Nelly, Drift 190NW was extended a further 63 meters following the Manto structure orientated N60°W and dipping 28°NE. The mineralization is associated with a brecciated quartz structure with sericite, including with disseminated pyrite and with irregular lenses of hydrothermal breccia and bands of carbonate, sphalerite and galena.
Channel samples were taken every 2 meters along the 63-meter extension and subdivided into two segments. The first 21-meter segment has an average of 1.99 g/t Au, 1.48 oz/t Ag and 0.62% Cu with an average true width of 1.21 m; and the second 42-meter segment has an average grade of 0.97 g/t Au, 0.32 oz/t Ag and 0.12 % Cu with an average true width of 1.14 m. (see Table 1)
Raise 090 – Manto Nelly
A 34-meter long raise (Raise 090, see Figure 1) was excavated to follow the vertical extension of the gold, silver and copper mineralisation in the Manto Nelly.
Channel sampling in the first 12-meter segment of Raise 090 returned an average grade of 2.98 g/t Au, 0.88 oz/t Ag and 0.32 % Cu over an average true width of 1.60 m. Eleven channel samples were collected and analysed. High grade channel assays include samples: #10561 grading 6.70 g/t Au, 0.88 oz/t Ag and 0.67% Cu over a true width of 1.4 m and #10559 grading 5.90 g/t Au, 0.65 oz/t Ag and 0.45% Cu over a true width of 1.5 m. Channel sampling in the second 22-meter segment of Raise 090 returned an average grade of 1.22 g/t Au, 0.97 oz/t Ag and 0.40% Cu over an average true width of 1.16 meters.
The entire detailed set of channel sample assays for all the mineralized structures discussed in this press release can be viewed at www.dynacorgold.com in the exploration section.
Table 1. Summary of Channel Sample Data on Drift 190 SW, Drift 190 NW and Raises 105 and 090
|Gold (g/t)||Silver (oz/t)||Copper (%)||Reference|
|Manto Dorado||Raise 105||Red point A (see Fig. 1)||14 meters||1,34||8,38||1,84||1,18||This press release|
|Manto Dorado||Raise 105||Red point B (see Fig. 1)||16 meters||0,98||0,99||0,37||0,07||This press release|
|Manto Dorado||Drift 190 SW||Red point C (see Fig. 1)||19 meters||1,35||8,50||1,95||0,8||October 15, 2015|
|18 meters||1,5||4,80||1,46||0,8||October 15, 2015|
|Manto Nelly||Drift 190 NW||Red points D, E & F (Fig.1)||21 meters||1,21||1,99||1,48||0,62||This press release|
|42 meters||1,14||0,97||0,32||0,12||This press release|
|Manto Nelly||Raise 090||Red point G & H (see Fig. 1)||12 meters||1,60||2,98||0,88||0,32||This press release|
|22 meters||1,16||1,22||0,97||0,40||This press release|
Sample Analysis and QA/QC procedures
The samples are sent to the internationally certified laboratory Certimin S.A. for analysis. Standards, blanks and duplicates are used in the sampling process as part of the QA/QC that is implemented and followed by Alonso Sanchez, Chief Geologist for Dynacor Gold Mines, B.Eng.
This Press Release has been read and approved by Alonso Sanchez, P. Eng. and Chief Geologist for Dynacor Gold Mines. He acts as the qualified person (“QP”) for the Company and is a geologist affiliated to the American Institute of Professional Geologists (AIPG).
Figure 1 is available at the following address: http://media3.marketwire.com/docs/1050246_Figure_ENG.pdf
ABOUT DYNACOR GOLD MINES INC.
Dynacor is a gold ore-processing and exploration Corporation active in Peru since 1996. The Corporation differentiates itself from pure exploration companies as it generates income from its wholly owned ore-processing plant. Dynacor’s basic share count at 37.4 million outstanding is in the lowest quartile of the resource sector. The Corporation’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 Metalex-Huanca. The Corporation is currently building a new 300 tpd ore processing plant in Chala (Southern Peru) and expects to begin operations in mid-2016. This new plant represents an important milestone for the Corporation’s future growth. The Corporation’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.
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