MONTREAL, QUEBEC--(Marketwired - Aug 8, 2014) - Dynacor Gold Mines Inc. (DNG.TO)(DNGDF) (Dynacor or the Corporation) is pleased to announce the first results of an ongoing channel sampling campaign that is targeting an area of the Tumipampa property where disseminated gold mineralization has been recently reported (see Press release dated September 27, 2013) associated with brecciated quartz rock with iron and sulfide mineral inclusions. Three (3) rock chip samples and thirty six (36) channel samples were analyzed and one channel sample graded 19.49 g/t Au and 0.35 oz/t Ag.
Exploration results
In 2014, as announced previously, Dynacor intends to intensify the exploration of an area of the Tumipampa property where disseminated gold mineralization has been found and where only two exploratory drill holes have been drilled to date (see press releases dated September 27, 2013 and February 24, 2014). Drill hole HDD-09-13 intersected a grade of 0.402 g/t over 15.05 meters and drill hole HDD-10-13 intersected a grade of 0.15 g/t Au over 18 meters. The Company has identified 4 large brecciated quartz structures on the Tumipampa property located approximately 2000 meters to the southwest of the Manto Dorado structure and 1000 meters south of Zone IV of the Skarn.
Thirty six channel samples and 3 rock chip samples from brecciated quartz rock are reported here which are part of an extensive 500+ sample campaign that will be carried out during 2014-2015 in order to better understand the geochemistry and geology of this area and define new drilling targets. Of the 36 channel samples 16 (44.4%) had anomalous gold grades (>0.05 g/t - 10 times the background value) with values ranging from 0.054 to 19.49 g/t Au and 5 samples (13.9%) had gold grades greater than 1.0 g/t Au. The channel samples that had anomalous gold values were associated with brecciated quartz rocks with veinlets of iron oxide and pyrite minerals. The three (3) rock chip samples did not return any significant values. The Table 1 presents the results of the 16 anomalous channel samples.
Table 1 16 Significant Channel Samples from the Brecciated Quartzite Rock
| Sample No. |
Type |
Width |
Au |
Ag |
Mo |
| (m) |
g/t |
g/t |
ppm |
| 3701 |
Channel |
1.10 |
0.218 |
0.006 |
11.57 |
| 3709 |
Channel |
0.6 |
0.089 |
0.016 |
4.35 |
| 3717 |
Channel |
0.6 |
1.346 |
0.035 |
1.75 |
| 3718 |
Channel |
0.7 |
0.115 |
0.003 |
0.72 |
| 3721 |
Channel |
0.8 |
3.571 |
0.019 |
3.39 |
| 3722 |
Channel |
1.00 |
1.272 |
0.543 |
0.76 |
| 3723 |
Channel |
0.3 |
19.49 |
0.354 |
20.52 |
| 3724 |
Channel |
0.5 |
0.272 |
0.013 |
2.26 |
| 3731 |
Channel |
1.00 |
0.69 |
0.167 |
72.86 |
| 3732 |
Channel |
0.7 |
0.078 |
0.048 |
6.34 |
| 3733 |
Channel |
0.6 |
0.448 |
0.257 |
5.75 |
| 3736 |
Channel |
1.20 |
0.054 |
0.003 |
3.29 |
| 3737 |
Channel |
0.6 |
0.06 |
0.003 |
2.38 |
| 3738 |
Channel |
0.6 |
0.273 |
0.003 |
2.02 |
| 3740 |
Channel |
0.45 |
3.173 |
0.01 |
3.06 |
| 3741 |
Channel |
0.45 |
0.059 |
0.003 |
4.33 |
Sample Analysis and QA/QC procedures
The samples were sent to the internationally certified laboratory Certimin S.A. for analysis.
Samples were assayed by ICP analysis and for assays greater than 10 g/t Au a gravimetric FAA finish assay is used. Standards, blanks and duplicates are used in the sampling process as part of the QA/QC for all samples. The program, sampling, collection of samples and the QA/QC methodology is implemented and followed by Alonso Sanchez, Chief Geologist for Dynacor Gold Mines, B.Eng. and QP under the American Institute of Professional Geologists (AIPG).
Exploration Outlook
Dynacor has also completed a geophysical survey (IP & Magnetics) of the disseminated gold area and the results of this study will be released shortly as soon as the Company's geologists have finished the interpretation of these results and defined new drilling targets.
In 2014-2015 the Company is planning to invest approximately $ 4.5 million in its Tumipampa property, including the following exploration targets and infrastructure projects:
Exploration
- Geochemical sampling (more than 500 samples) of the disseminated gold mineralized area (underway);
- Geophysical study (IP & Magnetics) of the disseminated gold mineralized area on 12 km2 (done - results to be published shortly)
- Excavation of a 420-meter extension of the cross-cut towards the Rosa, A and Tumi veins;
- Underground drilling from the extended cross-cut (12 holes - 2000 meters in total);
- Surface drilling targeting disseminated gold targets (5 holes - 1800 meters in total).
Infrastructure (all currently underway)
- Repairing and hardening a 26 km long access road between Anchicha-Tumipampa which was constructed in a superficial way in 2003;
- Improving the dynamite, fossil fuel and waste handling facilities;
- Installing new worker housing including the use of specially adapted containers;
- Building a new sterile storage area for excavated rock.
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 and silver mineral processing and a gold exploration and mining Corporation active in Peru through its subsidiaries since 1996. The Corporation differentiates itself from pure exploration companies as it also generates income and cash flow from its wholly owned gold mineral processing plant in Peru. The Corporation's assets include three exploration properties, including the Tumipampa property, as well as its now 250 tpd gold and silver mineral processing mill at Huanca. Dynacor's mill produces gold from the processing of mineral purchased from many registered miners. Dynacor's strength and competitive advantage comes with the experience and knowledge the Corporation 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.
Dynacor Gold Mines Inc. (DNG.TO)
Website: http://www.dynacorgold.com
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