Dynacor Gold Mines Inc. High grade gold discovery
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Dynacor Gold Mines Inc.
October 08, 2015 10:15 ET
Dynacor-Tumipampa: A Raise in the Manto Dorado Returns 27.26 g/t (0.88 oz/t) Gold and 2.19% Copper Over 35 Meters
MONTREAL, QUEBEC--(Marketwired - Oct. 8, 2015) -
Note to editors: Three graphs and an image are included with this press release on Marketwired's website.
Dynacor Gold Mines Inc. (TSX
NG) (OTC NGDF) (Dynacor or the Corporation) is pleased to announce sampling results of a raise excavated in the Manto Dorado on the Tumipampa project, Peru. Channel sampling in a raise within the Manto Dorado has exposed a massive (35 meters) high-grade gold-bearing band of copper sulphides. A further 60 meters of excavation of this highly mineralized raise is underway in order to reach the surface. To date, 35 meters have been excavated and the raise (#215) has an average gold grade of 27.3 g/t (0.88 oz/t) and 2.19% copper and an average width of 1.2 meters. The results include twelve (12) channel samples with uncut gold assays between 31.1 g/t (1 oz/t) and 76.2 g/t (2.45 oz/t) and including fifteen (15) channel samples with uncut copper assays between 2% and 8.7%. (see Figures 1 and 2).
Jean Martineau, Dynacor's President and CEO has stated "We are very happy to see the assays demonstrate the rich grades of gold and copper in this latest set of results from the Manto Dorado. Additional underground exploration results are pending and will be published as soon as they are ready. Thereafter, we are planning to test run at the Huanca-Metalex plant a large bulk sample of approximately 1,500 metric tonnes of mineralized material from Tumipampa."
Results
Raise-215 was excavated from the 27.5-meter mark along a 45-meter drift (Drift-190NE) orientated N45°E that was excavated in the Manto Dorado structure. The first 26.0 m of the Drift-190E returned high gold grades of 27.8 g/t Au and 1.69% Cu over a width of 1.5 m. Raise-215 was excavated in two steps. Six (6) meters in 2013 which returned an average grade of 21.6 g/t Au, and 2.14% Cu over an average width of 1.01 m (see press release dated December 19, 2013) and was recently extended a further twenty-nine (29) meters in 2015 adding up to a total of 35 meters (see Figure 3).
All told thirty-seven channel samples were analysed along Raise-215 and the detailed results are given in Table 1. Raise-215 has an average gold grade of 27.3 g/t (0.88 oz/t) and 2.19% copper over 35 meters with an average width of 1.2 meters. Certain channel samples had very high grades of up to 76.2 g/t Au (2.45 oz/t) and 8.7% copper (see Photo 1, below). Two graphs showing the gold and copper grades along the entire 35-meter raise are given in Figure 1 and 2 above.
Sample Analysis and QA/QC procedures
The samples are sent to the internationally certified laboratory Certimin S.A. for analysis. Standards, blanks and duplicates are used in the sampling process as part of the QA/QC that is implemented and followed by Alonso Sanchez, Chief Geologist for Dynacor Gold Mines, B.Eng.
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). Table 1. Channel samples from Raise-215 with data from 2013 and 2015
Distance along
Raise-215 (m) Width (m) Au (g/t) Au (oz/t) Cu (%)
Data published in December 2013
0.75 1.40 6.40 0.21 0.37
1.50 0.70 15.72 0.51 2.21
2.25 1.30 12.97 0.42 0.67
3.00 0.45 28.94 0.93 8.66
3.75 0.90 43.51 1.40 7.54
4.50 1.60 22.08 0.71 1.11
5.25 0.80 36.95 1.19 1.35
6.00 0.90 22.59 0.73 0.84
Weighted Average 6 m
segment 2013 data 1.01 21.64 0.69 2.14
2015 Width (m) Au (g/t) Au (oz/t) Cu (%)
7 1.6 42.2 1.36 3.52
8 1.6 22.2 0.71 2.28
9 1.7 20.2 0.65 0.29
10 1.3 7.6 0.24 1.30
11 1.3 11.4 0.37 1.77
12 1.1 25.6 0.82 4.98
13 1.2 47.8 1.54 3.23
14 1.3 39.8 1.28 2.68
15 1.0 23.1 0.74 6.73
16 1.3 23.2 0.75 2.54
17 1.3 24.0 0.77 3.26
18 1.2 12.1 0.39 1.29
19 1.2 8.9 0.29 0.64
20 1.3 59.0 1.90 1.87
21 1.3 3.1 0.10 0.39
22 1.2 43.6 1.40 3.22
23 1.2 36.0 1.16 1.21
24 1.3 53.6 1.72 4.43
25 1.2 51.8 1.66 1.25
26 1.1 8.7 0.28 1.53
27 1.2 66.4 2.14 4.86
28 1.1 76.2 2.45 3.28
29 1.1 29.0 0.93 2.29
30 1.1 31.6 1.01 2.64
31 1.2 3.4 0.11 0.78
32 1.2 31.2 1.00 0.72
33 1.1 4.1 0.13 0.87
34 1.1 9.8 0.32 0.12
35 1.3 11.8 0.38 1.13
Weighted Average 29 m
segment 2015 data 1.24 28.52 0.92 2.20
Weighted Average total 35m Raise-215 1.19 27.26 0.88 2.19
ABOUT DYNACOR GOLD MINES INC.
Dynacor is a gold ore-processing and exploration Corporation active in Peru since 1996. The Corporation differentiates itself from pure exploration companies as it generates income from its wholly owned ore-processing plant. Dynacor's basic share count at 36.5 million outstanding is in the lowest quartile of the resource sector. The Corporation's assets include three exploration properties, including the advanced high-grade gold Tumipampa property and an operating 85,000 TPA gold and silver ore processing mill at Metalex-Huanca. The Corporation obtained its permit to construct a brand new 300 tpd mill in Chala Peru. This represents an important milestone for the Corporation's future growth. The Corporation's strength and competitive advantage comes with the experience and knowledge it 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
NG) Website: http://www.dynacorgold.com
Twitter: http://twitter.com/DynacorGold
Facebook: http://www.facebook.com/pages/Dynacor-Gold-Mi...0787793085
Shares outstanding: 36 516 736
To view the images accompanying this press release, please visit the following links:
Figure 1: http://file.marketwire.com/release/fig1_en.jpg
Figure 2: http://file.marketwire.com/release/fig2_en.jpg
Figure 3: http://file.marketwire.com/release/fig3_en.jpg
Photo 1 High grade mineralization in Raise-215, Tumipampa September 2015 : http://file.marketwire.com/release/Photo%201%...202015.JPG
CONTACT INFORMATION
Jean Martineau
President and CEO
Dynacor Gold Mines Inc.
514-393-9000 Ext. 228
Dale Nejmeldeen
Investor Relations
Dynacor Gold Mines Inc.
604.492.0099 / M: 604.562.1348
604.608.9223 (FAX)
nejmeldeen@dynacor.com
