Dynacor Gold Mines Inc.: Tumipampa Exploration Update
MONTREAL, QUEBEC–(Marketwire – Sept. 19, 2011) – Dynacor Gold Mines Inc. (“Dynacor” or “the Company”)(TSX:DNG) wishes to report on the results of the geophysical study carried out on its Tumipampa property.
The geophysical study was completed in late July and the company has now received the full report from Val d’or Geofisica del Peru. The area covered by the study was 1064 ha and encompassed both the skarn and the vein rich areas to the south of the skarn. The geophysical grid used was made up of 20 lines with a length of 2.7 km orientated North- South and were spaced every 200 metres. The study included a magnetic survey and induced polarization (chargeability and resistivity) survey.
The magnetic data has confirmed the structure, the length and the orientation of the skarn deposit and a particularly strong magnetic anomaly was recorded for zone IV of the skarn. Indicating that zone IV of the skarn should be a priority drilling target. Magnetic anomalies are due to the presence of magnetite (Fe3O4) which is a pathfinder for copper mineralization in these types of deposits.
The chargeability component of the induced polarization study indicated an anomaly in skarn zones III and IV, the latter being particularly strong. The measured intensity was greater than 13 mV/V indicating the possible presence of chalcopyrite (CuFeS2), iron pyrite and other sulfide minerals. A very strong anomaly was also observed in the gold vein areas indicating the presence of pyrite associated with the gold mineralization (see Figure 1: http://media3.marketwire.com/docs/Fig1DynacorEng.pdf). This IP anomaly extends down to a depth of at least 400 meters.
The low resistivity, a component of the induced polarization survey (see Figure 2: http://media3.marketwire.com/docs/Fig2DynacorEg.pdf), shows considerable geochemical alteration in the rock of zone IV of the skarn and very intense alteration in the vein areas extending down to a depth of at least 350 metres. Low resistivity is often linked to the presence of hydrothermal and skarn alterations.
The company is very pleased with these results that have confirmed:
- the size, structure and spatial orientation of the Tumipampa skarn;
- the particular importance of zone IV of the skarn that has a strong IP and magnetic anomaly;
- the significance of the gold vein areas to the south of the skarn as shown by both components of the IP study with very intense anomalies that extend downwards to a depth of at least 350-400 metres.
The company is currently evaluating and planning the next steps in its ongoing exploration campaign of Tumipampa. Based on the geophysical results this will involve further drilling of the skarn beginning with Zone IV of the skarn as a priority target. Drilling of the gold vein rich areas to the south is also being planned as well as,at a later date, further exploration of this area by the excavation of an underground cross-cut through the veins. The company is planning to resume its drilling campaign as soon as possible.
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).
ABOUT DYNACOR GOLD MINES INC.
Dynacor is a gold exploration and mining company active in Peru through its subsidiaries since 1996. The Company’s assets include the Acari, Casaden and Tumipampa exploration properties. Dynacor’s gold mill produces gold by custom milling. Dynacor’s strength and competitive advantage comes with the experience and knowledge the Company 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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Dynacor Gold Mines Inc.
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