MONTREAL, QUEBEC–(Marketwired – March 1, 2016) – Dynacor Gold Mines Inc. (TSX:DNG)(OTC:DNGDF) (Dynacor or the Corporation) is pleased to release further exploration results on the northeastern extension of the highly mineralized Manto Dorado structure at Tumipampa (Peru).
- Extended Drift-190 in the Manto Dorado by 117 meters to the north-east;
- Within this extension discovery of a 44-meter long mineralized segment with an average grade of 7.99 g/t gold and 0.55% copper with an average true width (TW) of 1.12m including high grade sub-channel samples grading 128 g/t Au and 8.78% Cu over a TW of 0.8 m, 58.18 g/t Au and 0.23% Cu over a TW of 0.3 m and 52.3 g/t Au and 1.47% Cu over a TW of 0.25m; and
- Excavated 4 raises from the extended segment of Drift 190NE:
- Raise-265 (10 meters long with an average grade of 7.07 g/t Au and 0.51% Cu over an average TW of 1.04 m),
- Raise-275 (9 meters long with an average grade of 3.0 g/t Au and 0.08 % Cu over an average TW of 1.23 m),
- Raise-285 (17 meters long with an average grade of 5.55 g/t Au and 0.26% Cu over an average TW of 0.99 m) and
- Raise-290 (13 meters long with an average grade of 8.11 g/t Au and 0.60% Cu over an average TW of 1.15 m).
During the last few months, a fifth raise, Raise 215, was excavated from the 27-meter mark along Drift 190NE. Raise 215 has a total length of 83 meters and has an average gold grade of 18.59 g/t and 1.14% copper over an average TW of 1.18 m. The complete results for Raise 215 have already been published (see Press Release dated February 10, 2016). The new channel sampling results for Drift 190NE and the four Raises are given in Tables 1 and 2 and all the exploration data in Figures 1, 2, 3, 4 and 5.
In 2013, a 45-meter long drift orientated N45°E was excavated into the Manto Dorado structure (Drift 190NE) and channel sampling revealed high grades of gold and copper (see Press release dated 19 December, 2013). The first 26 meters of Drift 190NE was well mineralized (27.83 g/t Au and 1.69% Cu over an average true width of 1.5 meters) but the final 7 meters showed lower mineralization (0.04 g/t Au and 0.01% Cu over an average TW of 1.5 m). However, in 2008 three (3) surface diamond drill holes (HDD-03-2008, HDD-05-2008 and HDD-06-2008) had indicated that further to the northeast there was another area of high grade gold mineralization. Based on this evidence, Drift 190NE was extended a further 117 meters following a N43°E orientation dipping 22°NW along the Manto Dorado structure which in this NE location has a width of up to 1.5 meters and consists of a bituminous fault structure set in limonite and showing evidence of hydrothermal and tectonic brecciated mineralization with disseminated pyrite.
As shown in Figure 1, within the 117-meter extension of Drift 190NE the first 52 meters (red point D) and the last 21 meters (red point F) demonstrated structural continuity but were not highly mineralized. However, the middle 44-meter long segment was highly mineralized (see red point E) and included many high grade gold and copper channel samples. Within this segment 60 channel samples were taken and analysed. An average gold grade of 7.99 g/t and 0.55% copper was found over an average TW of 1.12 m. The ten highest grade sub-channel samples are given in Table 2 and include: sub-channel samples #11964 grading 128 g/t Au and 8.78% Cu over a TW of 0.8 m and #11968 grading 58.18 g/t Au and 0.23% Cu over a TW of 0.3 m.
Raises 265, 275, 285 and 290
Within the newly discovered 44-meter mineralized segment of Drift 190NE in the Manto Dorado four (4) raises have been excavated and channel sampled in order to determine the vertical extension of the mineralization within the Manto Dorado structure. All the channel samples taken in the raises were divided into sub-channel samples in order to investigate the distribution of mineralization at a given sampling point.
Raise 265 was excavated from the 96-meter mark over a total length of 10 meters and has an average grade 7.07 g/t Au and 0.51% Cu over an average TW of 1.04 meters. Nine channel samples were taken and were divided into 24 sub-channel samples which were analysed. High grade sub-channel samples included: sample #12288 grading 110.0 g/t Au and 3.9% Cu over a true width of 0.25 m and sample #12281 grading 41.80 g/t Au and 3.31% Cu over a true width of 0.25 m. The results are given in Table 1 and Figure 2.
Raise 275 was excavated from the 111-meter mark over a total length of 9 meters and has an average grade 2.99 g/t Au and 0.08% Cu over an average TW of 1.23 meters. Eight channel samples were taken and divided up into twenty sub-channel samples which were analysed. High grade sub-channel samples included: sample #12105 grading 38.69 g/t Au and 0.09% Cu over a true width of 0.3 m and sample #12111 grading 24.36 g/t Au and 0.03% Cu over a true width of 0.30 m. The results are given in Table 1 and Figure 3.
Raise 285 was excavated from the 121-meter mark over a total length of 17 meters and has an average grade 5.55 g/t Au and 0.26% Cu over an average TW of 1.23 meters. Fifteen channel samples were taken and divided up into thirty-four sub-channel samples which were analysed. High grade sub-channel samples included: sample #12374 grading 36.75 g/t Au and 1.93% Cu over a true width of 0.7 m and sample #12326 grading 30.01 g/t Au and 0.01% Cu over a true width of 0.25 m. The results are given in Table 1 and Figure 4.
Raise 290 was excavated from the 133-meter mark over a total length of 13 meters and has an average grade 8.11 g/t Au and 0.60% Cu over an average TW of 1.15 meters. Thirteen channel samples were taken and divided into thirty-eight sub-channel samples which were analysed. High grade sub-channel samples included: sample #12986 grading 43.38 g/t Au and 2.18% Cu over a true width of 0.3 m and sample #12992 grading 39.17 g/t Au and 7.38% Cu over a true width of 0.4 m. The results are given in Table 1 and Figure 5.
The results we have obtained in the northeastern extension of the Manto Dorado structure are very encouraging since we have shown that:
- Drift 190NE located at level 350 has an average grade of 6.69 g/t Au and 0.43% Cu over a total length of 162 meters with an average true width of 1.49 meters. It includes 2 segments with higher grades (see Table 1).
- Raise 215 – shows continuous high grade gold and copper mineralization in an 83-meter long raise (18.59 g/t Au and 1.14% Cu with an average true width of 1.18 m) towards the surface. This highly mineralized raise is open at depth and laterally.
- Raises 265, 275, 285 and 290 – are all mineralized in gold and copper and have average gold grades ranging from 2.99 to 8.11 g/t Au and average copper grades ranging from 0.08 to 0.6 % Cu. Assays from the four raises include high grade gold and silver channel and sub-channel samples.
Finally, our results demonstrate and underline that the Manto Dorado is a very important gold and copper mineralized structure at Tumipampa. It is open at depth and we also need to explore in much greater detail its northeastern and southwestern extensions. Further results are pending and will be published in due course.
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).
Table 1 . Summary of Channel Sample Data Obtained on Drift 190NE and
Raises 215, 265, 275, 285 and 290
|Location||Length||Average True Width||Gold||Copper||Reference|
|Drift 190NE (see Figure 1)|
|Drift 190NE (Fig. 1, red point A)||26||1.50||27.83||1.69||Press Release Dec. 2013|
|Drift 190NE (Fig. 1, red point B)||12||1.50||6.38||0.22||Press Release Dec. 2013|
|Drift 190NE (Fig. 1, red point C)||7||1.50||0.04||0.01||Press Release Dec. 2013|
|Drift 190NE (Fig. 1, red point D)||52||1.63||0.23||0.07||This press release|
|Drift 190NE (Fig. 1, red point E)||44||1.12||7.99||0.55||This press release|
|Drift 190NE (Fig. 1, red point F)||21||1.90||0.51||0.02||This press release|
|Average Drift 190NE over 162 meters||162||1.49||6.77||0.43||This press release|
|Raises 215, 265, 275, 285 and 290 (see Figure 1)|
|Raise 215 (Fig. 1, yellow point 1)||83||1.18||18.59||1.14||Press Release Feb. 2016|
|Raise 265 (Fig. 1, yellow point 2)||10||1.04||7.07||0.51||This press release|
|Raise 275 (Fig. 1, yellow point 3)||9||1.23||2.99||0.08||This press release|
|Raise 285 (Fig. 1, yellow point 4)||17||0.99||5.55||0.26||This press release|
|Raise 290 (Fig. 1, yellow point 5)||13||1.15||8.11||0.60||This press release|
Table 2. Ten highest gold grade sub-channel samples from the 44-meter long mineralized segment in Drift 190NE and the overall averages
|Sample No||True Width (m)||Au (g/t)||Ag (oz/t)||Cu (%)|
|Overall average values based on 60 channel samples from the 44-meter long segment||1.12||7.99||0.96||0.55|
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 brand new 300 tpd ore processing plant in Chala (Southern Peru), the Veta Dorada Plant, which should be completed shortly. This 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.
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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