Dryden Gold Intersects 8.93 g/t Gold Over 12.45 Meters Including 32.96 g/t Gold Over 2.73 Meters at Elora
Vancouver, British Columbia — [November 12, 2024] — Dryden Gold Corp. [TSXV: DRY, OTCQB: DRYGF] (“Dryden Gold” or the “Company”) is pleased to announce results on the Elora Gold System in the Gold Rock Camp. The Phase Five drill program completed late this summer, was designed to follow up on the high-grade shoot discovered on the Elora Target (see March 25, 2024, October 8, 2024 news release).
Highlights:
Hole KW-24-024 intercepted the mineralized zone at approximately 190 meters from surface and returned 8.93 g/t gold over 12.45 meters,including 32.96 g/t gold over 2.73 meters. In addition, this hole intercepted a hanging wall structure that returned 1.67 g/t Au over 2.75 meters,including 8.41 g/t gold over 0.43 meters. This is Dryden Gold’s deepest hole to date and is Dryden’s widest and most consistently disseminated high-grade intercept at Elora. A video summary of today’s results can be found here.
Hole KW-24-024 followed up on previously released holes KW-24-008 and KW-24-017 which returned 14.10g/t gold over 7.54m and 30.72 g/t gold over 5.70m, respectively.
Dryden Gold has already begun a follow up drill campaign on the Elora Gold System based on these results. This program will focus on expanding the down-plunge potential and strike expansion at Elora.
“We are pleased to see this wide intercept of disseminated high-grade gold as we test down plunge at Elora. These results strengthen our understanding of the controls of high-grade gold mineralization and have now also revealed a gold-bearing hanging wall structure. We have already shown that the Gold Rock Camp has significant near surface high-grade gold and now we are beginning to show that this is also a typical Archean Gold System with deep roots. High-grade mineralization at Red Lake Mine extends to almost 2 km and, given the geological similarities, we hope to show the Gold Rock Camp has similar depth potential,” stated Trey Wasser, CEO of Dryden Gold.
In the Phase Five drill campaign, three holes were drilled at Elora following up on drill hole KW-24-008, which intercepted 14.10 g/t Au over 7.54 meters that was drilled earlier this year (see March 25, 2024 news release). The first hole of the Phase Five drill program, KW-24-017, returned 30.72 g/t gold 5.70 meters including the highest-ever value intersected by Dryden Gold of 313.00 g/t over 0.55 meters (See October 8, 2024 news release). Hole KW-24-024 was drilled approximately 30 meters below hole KW-24-017. The final hole of the program was drilled south of hole KW-24-017, but mineralization was impacted by several dykes cutting through the mineralized zone. Unfortunately, although mineralization was present in hole KW-24-025, there were several dykes noted at the target depth suggesting that they were the reason for the lack of mineralization. Both holes intersected hanging wall mineralization before the Elora zone. The Geological team is pleased to see parallel mineralization at the Elora Target, much like what has been observed in the Big Master Gold System.
Figure 1: Elora Target Contoured Long section
Dryden Gold is focused on growth of the Gold Rock Camp project but will also continue to advance and review regional exploration targets on the resource pipeline. Dryden Gold has a large 70,000-hectare land package in the Dryden area with District scale exploration potential. The Company has continued early-stage exploration programs on its Hyndman project and Sherridon projects, as well as within the Gold Rock Camp.
Trey Wasser, CEO & Director will be meeting new investors in Europe and Maura Kolb, P. Geo., President will be attending and presenting in New Orleans. Investors can look forward to hearing about the Company’s recent achievements from the 2023-2024 drill program, as well as an exploration update on the continued drill campaign at the Gold Rock project, the summer field campaign designed to follow-up on Dryden Gold’s best drill results and expand on the known high-grade zones, as well as the ongoing relogging of historic regional core by the Dryden Gold Geology team. Dryden Gold welcomes the opportunity for attendees to reach out to management with any questions and review our updated corporate presentation here.
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”) 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.
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