Vancouver, British Columbia – – February 21, 2024 – Dryden Gold Corp. (TSXV: DRY) (“Dryden Gold” or the “Company”) reports assay results from the first two phases of its initial drill program testing the Gold Rock portion of its Dryden Gold Project. The program successfully achieved the three main objectives of testing high-grade shoot orientation, identifying new high-grade shoot periodicity and confirming the theorized expanded strike length within the Big Master gold system.
Highlights:
- Successfully intersected new high-grade shoot on the Big Master One (“BM1”) with drill hole KW-23-009A intersecting 26.11 g/t gold over 3.16 m, including 79.80 g/t gold over 0.33 m.
- Confirmed interpreted 1.5 km strike length on the Big Master gold system which is open in all directions with significant step-out holes KW-23-004 returning 3.40 g/t gold over 1.60 m and KW-23-010 intersecting 3.70 g/t gold over 6.00 m including 10.60 g/t gold over 0.4 m.
- Confirmed orientation and expanded historically delineated high-grade shoot with new holes KW-23-016 which intersected 3.81 g/t gold over 7.00 m including 71.00 g/t gold over 0.30 m and KW-23-018 intersecting 6.66 g/t gold over 4.30 m including 44.80 g/t gold over 0.27 m.
- Phase three drilling has been completed with results pending and phases four and five are anticipated to be completed over the next 6-8 weeks.
Dryden Gold CEO, Trey Wasser stated “These assay results mark a great start for Dryden Gold’s exploration team. All our goals for the first two phases of drilling were successful and as a result we are showing the significant near-surface, high-grade gold potential within the Gold Rock Camp portion of the district scale Dryden Gold project. These findings underscore the importance of our systematic drilling approach and highlight the potential to be unlocked in this strategic and underexplored land package.”
The 13 shallow drill holes reported today represent phases one and two of the drill program completed between November and December 2023 for a total of 1,613 m (Table 1).
Table 1. Phase One and Two Drill Results
| Drillhole | From | To | Length (m)* | Grade (g/t Au) | |
| KW-23-001 | 65.30 | 68.13 | 2.83 | 0.45 | |
| KW-23-002 | 19.12 | 20.50 | 1.38 | 3.14 | |
| Including | 19.12 | 19.42 | 0.30 | 7.81 | |
| 36.50 | 37.67 | 1.17 | 2.45 | ||
| KW-23-003 | 17.50 | 19.34 | 1.84 | 4.99 | |
| 26.00 | 27.00 | 1.00 | 1.67 | ||
| KW-23-004 | 58.40 | 60.00 | 1.60 | 3.40 | |
| KW-23-005 | NSV | ||||
| KW-23-006 | NSV | ||||
| KW-23-007 | 100.00 | 100.80 | 0.80 | 34.00 | |
| 123.50 | 125.00 | 1.50 | 3.85 | ||
| 136.00 | 137.58 | 1.58 | 1.29 | ||
| 144.00 | 144.69 | 0.69 | 20.93 | ||
| Including | 144.30 | 144.69 | 0.39 | 36.70 | |
| KW-23-009A | 29.00 | 30.33 | 1.33 | 0.92 | |
| 107.50 | 110.66 | 3.16 | 26.11 | ||
| Including | 110.33 | 110.66 | 0.33 | 79.80 | |
| KW-23-010 | 15.00 | 19.00 | 4.00 | 1.69 | |
| 133.00 | 139.00 | 6.00 | 3.70 | ||
| Including | 134.30 | 134.70 | 0.40 | 10.60 | |
| KW-23-015 | 125.00 | 127.00 | 2.00 | 2.59 | |
| Including | 125.33 | 126.25 | 0.92 | 5.35 | |
| KW-23-016 | 37.50 | 44.50 | 7.00 | 3.81 | |
| Including | 43.00 | 43.30 | 0.30 | 71.00 | |
| KW-23-017 | 48.40 | 57.07 | 8.67 | 1.21 | |
| Including | 49.05 | 51.07 | 2.02 | 4.33 | |
| KW-23-018 | 74.50 | 78.80 | 4.30 | 6.66 | |
| Including | 75.93 | 76.20 | 0.27 | 44.80 | |
| *Reported intervals are drilled core lengths; assay values are uncut. No significant value “NSV”. | |||||
Testing High-grade shoots
Several holes were focused on testing the controls on high-grade shoot orientation caused by intersection of structures (lineation) and fold hinge orientation. Previous drilling indicated the potential for these new high-grade shoots, but the continuity and orientation of the potential shoots had not been previously tested. Hole KW-23-009A returned 26.11 g/t gold over 3.16 m including 79.80 g/t gold over 0.33 m within a mineralized quartz vein within the BM1 zone. Additionally, hole KW-23-010intersected a hypothesized high-grade shoot on BM2 returning 3.70 g/t gold over 6.0 m including 10.60 g/t gold over 0.40 m.
Six holes were drilled within the historically delineated high-grade shoot within BM2. Hole KW-23-016 intersected visible gold within a sheared mafic volcanic unit with strong biotite alteration with quartz veinlets and returned 3.81 g/t gold over 7.00 mincluding 71.00 g/t gold over 0.30 m.
Confirmed 1.5km Strike Length
A key objective of the drill program was to drill test the strike extension of the Big Master gold system that had been interpreted from 2023 field work. Hole KW-23-004 was a step-out of 450 meters and intersected 3.40 g/t gold over 1.60 m. Hole KW-23-010, which also tested a new high-grade shoot, was drilled at the southeastern extent of the Big Master Gold system confirming the 1.5 km strike length of the system that is still open in all directions.
Highwall-footwall Mineralization
The hanging wall and foot wall mineralization was historically sporadically sampled making it difficult to understand the continuity and potential of the hanging wall/foot wall mineralization. Drill hole KW-23-007 returned multiple mineralized intercepts, including: 34.00 g/t gold over 0.80 m from 100 m down hole (hanging wall of the BM2) and 20.93 g/t gold over 0.69 mfrom 144 m down hole including 36.70 g/t gold over 0.39 m (foot wall of the BM2), confirming the high-grade potential of the hanging wall & foot wall structures on the BM2 gold system. This summer the Company is planning a re-logging program of historic core to more accurately assess the potential of this mineralization.
Halo Mineralization
The assessment of the halo mineralization is another important element of defining potentially minable widths of mineralization. Hole KW-23-018 intercepted 6.66 g/t gold over 4.30 m including 44.80 g/t gold over 0.27 m, excluding the high-grade intercept the halo mineralization would alone has a grade of 4.10 g/t gold over 4.03 m. Hole KW-23-017 intersected halo mineralization of pyrite sulphidation within sheared volcanics that returned gold values of 1.21 g/t gold over 8.67 m indicating halo mineralization was present even when the high-grade mineralization was absent.
The Company has recently completed a third phase which assessed the Elora Vein which parallels the Big Master gold system. Dryden Gold’s phases four and five will include extended lateral step-outs, and further testing of known and theorized high-grade shoots. The complete drill program is expected to total approximately 4,000 meters and be completed in March 2024.
Qualified Person
The technical disclosure in this news release has been reviewed and approved by Maura J. Kolb, M.Sc., P.Geo., President of Dryden Gold and a Qualified Person as defined by National Instrument 43-101 of the Canadian Securities Administrators.
Analytical Laboratory and QA/QC Procedures
All sampling completed by Dryden Gold Corp. within its exploration programs is subject to a Company standard of internal quality control and quality assurance (QA/QC) programs which include the insertion of certified reference materials, blank materials, and a level of duplicate analysis. Drill samples from the 2023 program were sent to Activation Laboratories, with sample preparation and analysis in Thunder Bay, where they were processed for gold analysis by 50-gram fire assay with an atomic absorption finish and over limits determined by Fire Assay with a gravimetric finish. Activation Laboratories systems conform to requirements of ISO/IEC Standard 17025 guidelines and meets assay requirements outlined for NI 43-101.
ABOUT DRYDEN GOLD CORP.
Dryden Gold Corp. is an exploration company focused on the discovery of high-grade gold mineralization listed on the TSX Venture Exchange (“DRY”). The Company has a strong management team and Board of Directors comprised of experienced individuals with a track record of building shareholder value through property acquisition and consolidation, exploration success, and mergers and acquisitions. Dryden Gold controls a 100% interest in a dominant strategic land position in the Dryden District of Northwestern Ontario. Dryden Gold acknowledges all Indigenous Peoples and that it is operating on the traditional homelands of the Wabigoon Lake Ojibway Nation and Eagle Lake First Nation. Dryden Gold’s property package includes historic gold mines but has seen limited modern exploration. The property hosts high-grade gold mineralization over 50km of potential strike length along the Manitou-Dinorwic deformation zone. The property has excellent infrastructure, enjoys First Nations support and proximity to an experienced mining workforce.
For more information go to our website www.drydengold.com.
CONTACT INFORMATION
Trey Wasser, CEO
email: twasser@drydengold.com
phone: 940-368-8337
Ashley Robinson, Marketing
Email: ir@drydengold.com
X: @DrydenGold
Maura Kolb, M.Sc., P. Geo., President
Email: mjkolb@drydengold.com
Phone: 807-632-2368
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
The information contained herein contains “forward-looking statements” within the meaning of applicable securities legislation. Forward-looking statements include, but are not limited to, statements with respect to : the acquisition of the Property, receipt of corporate and regulatory approvals, issuance of common shares; future development plans; future acquisitions; exploration programs; and the business and operations of Dryden Gold. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be “forward-looking statements.” Forward-looking statements are subject to a variety of risks and uncertainties which could affect actual events or results to differ from those reflected in the forward-looking statements including, the potential for delays in exploration or development activities; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations; risks related to commodity price fluctuations; and other risks and uncertainties related to the Company’s prospects, properties and business detailed elsewhere in Dryden Gold’s and the Company’s disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are conditioned against attributing undue certainty to forward-‑looking statements. These forward-looking statements are made as of the date hereof and Dryden Gold and the Company do not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from Dryden Gold’s and the Company’s expectations or projections.
