Dynacor Gold Mines Inc. ("Dynacor" or "the Company") (TSX:DNG - News) is pleased to announce
that on Saturday the 15th of January, 2011 the Company commenced Phase 1 of
its 2011 drilling campaign consisting of 16,700 meters of drilling of its
100% owned Tumipampa property located in southern
Peru. This property is host to a Cu-Au (copper-gold) mineralized skarn deposit as well as vein and disseminated gold
mineralization (for baseline data and the geological context see Press
Release dated November 18, 2010) and is found in the heart of the Andahualas-Yauri formation where many world class mines
and Cu-porphyries and polymetallic skarn deposits have been discovered such as Tintaya, Antapacay, Las Bambas, Los Chancas, Haquira and Constancia.
The objective of the drilling campaign
is to focus on the 4.1 km by 1.2 km skarn ore
deposit in order to determine the depth of mineralization and to verify the
high-grade gold and copper mineralization reported in surface channel samples
(see Press Releases dated January 27, 2010 and August 11 2009). Three to four
drill holes will target each of the 4 anomalous mineralized zones that have
been identified by the surface geological studies.
During Phase 1 a total of 14 holes will
be drilled to depths of between 300 to 600 meters with first results expected
early March 2011. The company has built 5 km of access roads to the drilling
site and a first group of 3 drilling platforms have been excavated. Initial
drilling will be done in anomalous zone 2 of the skarn.
Subsequent drill results will be released on a regular basis as they become
available. With success of the drilling results, management may consider
deploying an additional diamond drilling rig to Tumipampa.
The Company expects to release shortly
some further results of channel surface samples taken on the skarn deposit and gold rich veins on the Tumipampa property during Q3 and Q4 2010.
This Press Release has been read and
approved by Alonso Sanchez, P. Eng. and Chief Geologist for Dynacor. 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 produces gold from its custom milling plant. 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.