Dynacor Discovers Disseminated Gold Mineralization at Tumipampa
27 Settembre 2013 - 1:00PM
Marketwired
Dynacor Gold Mines Inc. (TSX:DNG) (OTC:DNGDF) (Dynacor or the
Company) a company with gold and silver ore- processing operations
and exploration projects in Peru, is pleased to announce the
discovery in a new area of its Tumipampa property of close to the
surface disseminated gold mineralization in brecciated quartzite
rock. The Company is also pleased to announce that underground
drilling from within the Manto Dorado began in August and the first
results will be announced as soon as they are available.
New Drilling Results
During the months of July and August, six (6) holes were drilled
HDD7- HDD12. Drill hole HDD8 intercepted the Avelia Ines vein and
returned 4.767 g/t Au and 0.2% Cu over 1.1m and drill holes HDD9
and HDD10 revealed close to the surface disseminated gold
mineralization with 0.457 g/t Au over 12.4 m and 0.151 g/t Au over
12.2 m. (see Table 1, below). Drill holes HDD7, HDD11 and HDD12
that were targeted on the Avelia Ines, Mylene and San Pedro veins
did not return significant results.
Table 1: Significant drilling results from July and August
2013
-------------------------------------------------------------------------
TARGET Depth
DRILL Interval
HOLE Id (m) Structure
-------------------------------------------------------------------------
AVELIA INES VEIN HDD 8-13 142.5 - 143.6 VEIN
-------------------------------------------------------------------------
-------------------------------------------------------------------------
BRECCIATED QUARTZITE HDD 9-13 20.0 - 32.4 DISSEMINATED
-------------------------------------------------------------------------
-------------------------------------------------------------------------
BRECCIATED QUARTZITE HDD 10-13 14.8 - 27.0 DISSEMINATED
-------------------------------------------------------------------------
---------------------------------------------------------------------------
TARGET
Mineralization
--------------------------------------------------
Width
(m) Au (g/t) Ag(oz/t) Cu(%) Pb(%) Zn(%)
---------------------------------------------------------------------------
AVELIA INES VEIN 1.1 4.767 0.05 0.20 0.01 0.02
---------------------------------------------------------------------------
---------------------------------------------------------------------------
BRECCIATED QUARTZITE 12.4 0.457 0.012 0.006 0.00 0,001
---------------------------------------------------------------------------
---------------------------------------------------------------------------
BRECCIATED QUARTZITE 12.2 0.151 0.008 0.002 0.001 0.001
---------------------------------------------------------------------------
Some preliminary surface chip and channel samples from the
brecciated quartz rock from the same area had also been analyzed in
2008 and the results are given in Table 2, below.
Table 2: Channel/chip samples from the brecciated quartzite rock
(data from 2008)
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Sample No. Type Width Au Ag Cu Mo
--------------------------------------------------
(m) g/t g/t ppm ppm
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55711 Channnel 0.35 0.05
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55729 Channnel 0.45 0.81 0.9 82 62
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55730 Channnel 0.3 0.39 1.6 158 23
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55731 Channnel 0.6 0.04
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55736 Channnel 1.5 0.26 0.5 24 2
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55737 Channnel 2.0 0.8 0.6 23 7
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55739 Channnel 1.3 0.15 0.5 13 5
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55741 Channnel 0.7 0.11 0.5 20 4
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55742 Chip 0.06
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55744 Chip 0.79 0.5 14 1
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1486 Channnel 1.6 0.005 0.029 0.005 1
--------------------------------------------------------------------------
1487 Channnel 1.5 0.005 0.016 0.004 1
--------------------------------------------------------------------------
1488 Channnel 0.9 0.463 0.019 0.012 10
--------------------------------------------------------------------------
1489 Channnel 1.4 0.111 0.016 0.002 9
--------------------------------------------------------------------------
1490 Channnel 1.6 0.025 0.016 0.002 3
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1491 Channnel 1.1 0.068 0.016 0.003 6
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Based on the results of these surface samples two exploratory
holes were drilled in August 2013 and led to the discovery of an
area of disseminated gold mineralization associated to brecciated
quartz rock including sulfide mineral inclusions located
approximately 2000 meters to the southwest of the Manto Dorado
structure and 1000 meters to the south of Zone IV of the skarn.
This new discovery demonstrates that gold mineralization is very
widespread on the Tumipampa property and can be found: (a)
associated to polymetallic ores in the skarn, (b) in high grade
gold vein structures such as the Manto Dorado, and (c) as low grade
disseminated gold in pyritic ore associated to brecciated quartz.
As shown by drill holes HDD9 and HDD10 disseminated gold ore is
found very close to the surface from depths of 20.0 and 14.8m,
respectively.
To date the Company's geologists have identified 4 large
structures of brecciated quartz at Tumipampa in an area of 120
hectares that has not yet been explored. Dynacor is planning to
intensively explore this area during the next 6 months and plans to
undertake an extensive surface sampling campaign as well as a
geophysical study in order to define new drilling targets for
2014.
Manto Dorado Underground Drilling Campaign
Underground drilling from within the cross-cut began in August.
The Company is planning to drill a total of 2,400m and the
following initial drilling targets have been defined:
a. 2 drill holes targeting the Rosa and A veins;
b. 6 drill holes targeting the western and eastern at depth extensions of
the Manto Dorado structure; and
c. A series of shorter definition drill holes within the Manto Dorado
Dynacor expects to move towards an initial estimation of gold
resources with the above drilling results although further
definition drilling will certainly be necessary.
Jean Martineau, Dynacor's President and Chief Executive Officer
stated, "We are very excited by the discovery of high grade gold
mineralization within the Manto Dorado structure (see press release
dated 16th of July, 2013) and the very recent discovery of low
grade disseminated gold on our Tumipampa property. The Company's
cash reserves and continued cash generation from our ore processing
operations will allow us to capitalize on these opportunities and
fund an increase in Dynacor's exploration activities without
raising any capital from the market. We are confident that the
exploration of our flagship Tumipampa property will create further
value for our shareholders as we move forward."
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 an ore processing and a gold exploration and mining
company active in Peru through its subsidiaries since 1996. The
Company differentiates itself from pure exploration companies as it
also generates income and cash flow from its wholly owned ore
processing plant in Peru. The Company's assets include five
exploration properties, including the Tumipampa property, as well
as its 230 tpd gold and silver ore processing mill at Huanca.
Dynacor's mill produces gold from the processing of ore purchased
from many different ore suppliers. 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.
Dynacor Gold Mines Inc. (TSX:DNG)
Website:http://www.dynacorgold.com
Twitter:http://twitter.com/DynacorGold
Facebook: www.facebook.com/DynacorGoldMines
Shares outstanding: 36,316,111
Contacts: Jean Martineau President and CEO Dynacor Gold Mines
Inc. 514-393-9000 ext. 228 Dale Nejmeldeen Investor Relations
Dynacor Gold Mines Inc. T: 604.492.0099 M:
604.562.1348nejmeldeen@dynacor.com
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