Dryden Gold Reports Record High-Grade Gold at Elora Project, Gold Rock Camp of 30.72 g/t Gold over 5.70 Meters
Vancouver, British Columbia — Oct 08, 2024 — Dryden Gold Corp. [TSXV: DRY, OTCQB: DRYGF] (“Dryden Gold” or the “Company”) has revealed a major finding at its Elora Project in the Gold Rock Camp, reporting 30.72 g/t gold over 5.70 meters, including its highest-ever value of 313.00 g/t over 0.55 meters from hole KW-24-017. These results showcase the project’s potential to generate significant shareholder value and position Dryden Gold as a significant player in the Ontario gold exploration space. A video summary of today’s drill results can be found here.
Highlights:
Hole KW-24-017 intercepted 30.72 g/t gold over 5.70 meters, including its highest-ever intercept of 313.00 g/t over 0.55 meters (Table 1).
Phase 5 drilling has been completed with results pending. This phase consisted of nine holes totaling 1,598 meters focused on the depth expansion at Elora and Big Master 1 gold systems and infill drilling at Big Master 2.
A video summary of today’s results can be found here.
Hole KW-24-017 was strategically planned to test the depth potential of the Elora system and marked the first drill hole of Dryden Gold’s Phase 5 drill program, consisting of nine holes totaling 1,598 meters. The program specifically targeted the gold-rich Elora, Big Master 1, and Big Master 2 gold systems, aiming to expand known mineralization in these high-potential zones.
“These results from the Elora gold system marks a significant milestone for Dryden Gold. Intersecting 30.72 g/t gold over 5.70 meters, including 313.00 g/t over 0.55 meters, strongly validates our exploration strategy and geological interpretations. These high-grade intercepts highlight the depth potential at Elora and within the broader Gold Rock Camp. These orogenic systems tend to have very deep roots with grades increasing at down plunge. As we advance through Phase 5 of our drill program, we are excited to continue to test deeper intercepts as well as identify additional high-grade shoots in the Gold Rock Camp,”stated Trey Wasser, CEO of Dryden Gold.
The Elora Gold Structure
Four holes have been completed to test the extension of the Elora gold system along the high-grade plunge. Hole KW-24-008 reported earlier this year returned multiple intercepts of both quartz veining and sulphide mineralization returning 14.10 g/t gold over 7.54 meters including 43.81 g/t gold over 1.42 meters and 92.10 g/t gold over 0.30 meters.
Hole KW-24-017 reported here, intersected mineralization 30 meters deeper and 45 meters along strike of hole KW-24-008 (Figure 1). The zone intersected in hole KW-24-017 is located at 220 meters true depth and consisted of pyrite mineralization and quartz veins within sheared volcanics. Adjacent to the mineralization zone a felsic dyke was observed which is hypothesized to be a correlated to the gold bearing event and was observed in the majority of the high-grade holes in the Gold Rock Camp. Two additional holes (KW-24-024 and KW-24-025) were drilled as part of the Phase 5 program focused on the plunge extension of hole KW-24-017 with assays pending.
Figure 1 – Long section of the Elora structure
Historically, the Elora Gold Structure was host to two mines that lie directly north of the current drilling. The Elora-Jubilee Mine was approximately 300 meters north and the Laurentian Mine approximately 1 km north, of current drilling. The Laurentian Mine was the most productive mine in the entire Kenora Mining District and recovered 19,950 tons of ore at 14 g/t gold to 146 meters depth1. Both of these mines represent excellent targets for next drill program. As seen in Figure 2, the Laurentian Mine occurs at one of the interpreted “east-west” structures like the four high-grade shoots that have been identified to date.
Figure 2 – Plan map of Gold Rock Camp with mineralized structures
Continued Exploration Core cutting and sample processing continues for the Phase 5 Drill Program. The team has just wrapped up summer field mapping and surface samples have been processed and shipped to the lab as of last week. The relogging of historic regional core is ongoing by the Dryden Gold Geology team. For details of the Phase 5 program follow the link to technical information on our website.
1 Sabina, Ann P. (1991) Rocks and minerals for the collector, Sudbury to Winnipeg. Miscellaneous report 49. Geological Survey of Canada.
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. Select samples were analyzed using metallic screens. 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”) and traded on the OTCQB (“DRYGF”). 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 collaborative relationships with First Nations communities and benefits from proximity to an experienced mining workforce.
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 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.
UNITED STATES ADVISORY. The securities referred to herein have not been and will not be registered under the United StatesSecurities Act of 1933, as amended (the “U.S. Securities Act”), have been offered and sold outside the United States to eligible investors pursuant to Regulation S promulgated under the U.S. Securities Act, and may not be offered, sold, or resold in the United States or to, or for the account of or benefit of, a U.S. Person (as such term is defined in Regulation S under the United States Securities Act) unless the securities are registered under the U.S. Securities Act, or an exemption from the registration requirements of the U.S. Securities Act is available. Hedging transactions involving the securities must not be conducted unless in accordance with the U.S. Securities Act. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in the state in the United States in which such offer, solicitation or sale would be unlawful.
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