A rolling stone gathers no moss, and that certainly applies to Canada’s Dynasty Gold (TSXV DYG / WKN A2DW87). Accordingly, after the first part of this year’s drilling on the Thundercloud property was completed very successfully, the company has already initiated phase two of the program.
Phase One summer drilling was designed to total up to 2,000 metres. It was designed to extend the near surface gold mineralization of the Pelham Zone north and south into areas not previously explored by drilling. And Dynasty succeeded in doing so in a very convincing manner.
Every drill hole a hit
This is because, as the assay results showed, each of the nine drill holes encountered strong, and in some cases very high, gold grades over large widths. Among others, Dynasty assayed 62.5 g/t gold over 1.5 meters, which was within a thicker mineralization interval of 12 meters at 11.0 g/t gold and of 3.2 g/t gold over 70.5 g/t gold!
In addition, Dynasty drilled 57.8 metres of 3.28 g/t gold, including 6 metres of 10.36 g/t gold, 14.8 metres of 7.14 g/t gold and 28 metres of 5.33 g/t gold. Another drill hole returned 50.0 metres of 3.06 g/t gold, which included 7.5 metres of 4.36 g/t gold, and another intercept of 21 metres of 3.83 g/t gold, including 3.0 metres of 8.26 g/t gold. (Additional results can be found in the Company’s press release).
Historical results improved by up to 300%
As Ivy Chong, CEO of Dynasty Gold, pointed out, these results have improved the company’s historical results from the East Pelham zone by up to 300%. They also identified mineralized intervals up to 130.5 meters thick, which is the longest mineralized interval ever drilled on the property.
Dynasty’s 2023 first phase drilling has confirmed the high-grade structures of the East Pelham zone discovered in 2022. This showed that the higher-grade mineralization identified in the two drill programs appears to trend to the northeast, within the regionally defined east-west trending deformation zone.
The positive results from drilling to date have allowed Dynasty to gain an improved understanding of these high-grade deposits. They will have a major impact on the company’s future exploration plans, which include identifying additional prospective targets for expansion drilling. After all, Dynasty has not even touched 90% of the property!
With the second phase of drilling this year already underway, the Company intends to test areas of high chargeability discovered by an IP survey. These areas are located north, northeast and south of the Pelham zone. Deeper holes are also aimed at confirming the continuity of the high-grade mineralization Dynasty identified in 2022 and in the first phase of drilling in 2023.
Summary: Dynasty Gold has already completed two extremely successful drill programs at Thundercloud, consistently delivering exciting results. Given the current difficult situation in the junior mining sector, the stock was not able to maintain the high after the initial discovery drill hole, but the Dynasty stock is still up a good 214% on a 12-month basis. At the latest, when market and sentiment turn at some point and Dynasty continues to deliver strong results, we believe there is a strong chance the stock could make a sustained move towards the old highs. (We caution, however, that Dynasty is still a risky speculation).
According to §34b WpHG and according to Paragraph 48f paragraph 5 BörseG (Austria) we would like to point out that principals, partners, authors and employees of GOLDINVEST Consulting GmbH hold or may hold shares of Goliath Resources and therefore a possible conflict of interest exists. We also cannot exclude that other stock letters, media or research firms discuss the stocks we recommend during the same period. Therefore, symmetrical information and opinion generation may occur during this period. Furthermore, there is a consulting or other service contract between Goliath Resources and GOLDINVEST Consulting GmbH, which means that a conflict of interest exists.