MONTREAL, QUEBEC – December 19, 2013 – Dynacor Gold Mines Inc. (TSX: DNG) (Dynacor or the Company) is pleased to announce underground drilling results on the Manto Dorado structure oriented N58°E dipping 22°NW (Figure 1). Four holes, HDD01-350, HDD02-350, HDD03-350 and HDD04-350, have been drilled from an underground drilling station into the Manto Dorado. High gold grades and polymetallic mineralization were obtained in all four drill holes (see Table 1 and Figure 1).
Underground Drilling Results
The drilling results extend the mineralization an extra 175 m to 200 m down dip along the Manto Dorado structure. The results presented in the Table 1 demonstrate high gold grades and polymetallic mineralization with grades of 115.7 g/t Au, 0.52 oz/t Ag, 3.03 % Cu over 1.1 m in the drill hole HDD02-350 to 7.25 g/t Au, 0.10 oz/t Ag and 0.42% Cu over 0.60 m in the drill hole HDD04-350.
Table 1. Results from the Underground Drilling of the Manto Dorado Structure, Tumipampa.
|Drill Hole||Total Length (m)||Target||True Width (m)||Au (g/t)||Ag(oz/t)||Cu (%)|
Excavation of a Drift and Raise
A drift oriented N45°E excavated 45 m in the Manto Dorado structure returned high gold grades and polymetallic mineralization (See Table 2 and Figure 2). The first 26.0 m of the drift returned high gold grades of 27.83 g/t Au, 0.40 oz/t Ag, and 1.69% Cu (inclusive 95.43 g/t Au, 0.35 oz/t Ag and 1.37% Cu over a length of 1.50 m) with a structure width of 1.5 m. The following 12.0 m of the drift graded 6.38 g/t Au, 0.05 oz/t Ag and 0.22% Cu (inclusive 22.92 g/t Au, 0.11 oz/t Ag, and 0.61% Cu over a length of 1.50 m) with a structure width of 1.50 m. The final 7.0 m of the drift graded 0.04 g/t Au, 0.02 oz/t Ag, 0.01% Cu with a structure width of 1.5 m. Even though the last portion of the drift seems to have come out of the ore shoot or mineralization, previous surface drilling (HDD-03-2008, HDD-05-2008 and HDD-06-2008) may indicate the presence of another mineralized ore shoot further to the northeast (NE) (See Figure 3).
A raise excavated just off the drift at approximately 27.5 m into the drift also returned high gold grades and polymetallic mineralization (See Table 2 and Figure 2). Sampling in the raise returned an average grade of 21.64 g/t Au, 0.33 oz/t Ag and 2.14% Cu over an average width of 1.01 m.
Table 2. Results from the Drift sampling and Raise sampling of the Manto Dorado Structure, Tumipampa.
|Drift 190 No||Drift Length||Target||Intersection Width (m)||Au (g/t)||Ag(oz/t)||Cu (%)|
|Drift 190 No.1||26||Manto Dorado||1.5||27.83||0.40||1.69|
|Drift 190 No.2||12||Manto Dorado||1.5||6.38||0.054||0.22|
|Drift 190 No.3||7||Manto Dorado||1.5||0.04||0.02||0.01|
|Raise 125||Raise Length||Target||Width||Au g/t||Ag oz/t||Cu %|
|Raise 125 No.1||6||Manto Dorado||1.01||21.64||0.33||2.14|
Sample Analysis and QA/QC procedures
The samples are sent to the internationally certified laboratory Certimin S.A. for analysis and checks of mineralized sections are made by sending reject samples to SGS del Peru S.A.C. Samples were assayed by ICP analysis, for assays greater than 10 g/t Au samples were sieved into size fractions and analysed by gravimetric FAA finish assay. Standards, blanks and duplicates are used in the sampling process as part of the QA/QC for the sampling. Additional check samples were sent to SGS del Peru S.A.C for carrying out spot check analysis verifications. The program, sampling, collection of samples and the QA/QC is implemented and followed by Alonso Sanchez, the Chief Geologist for Dynacor Gold Mines, B.Eng and QP under the American Institute of Professional Geologists (AIPG).
Mineralization and Historical Results
The mineralization in the Manto Dorado is mainly high grade gold mineralization (Au) and polymetallic mineralization (Ag-Cu-Pb-Zn) with the presence of pyrite, chalcopyrite, galena and sphalerite occurring in a shear structure of quartz-carbonate with sericite. The Manto Dorado structure was previously intercepted in a 2008 drilling program with results of 12.80 g/t Au, 0.46 oz/t Ag over 1.40 m in drill hole HDD03-2008, and 23.80 g/t Au, 0.09 oz/t Ag over 1.20 m in drill hole HDD06-2008 (See Figure 3).
Northwest of the Manto Dorado other veins were intercepted in the 2002-2003 and 2008 drilling campaigns. The Rosa Vein was intercepted in drill hole TCD6 with grades of 12.25 g/t Au and 0.023 oz/t Ag over 1.30 m, in drill hole HDD07 with grades of 13.80 g/t Au and 0.09 oz/t Ag over 0.65 m and in drill hole HDD11 with grades of 6.33g/t Au and 0.073 oz/t Ag over 2.76 m.
In July 2013, a cross cut intercepted the Manto Dorado structure at the 135 m mark. Within the structure channel sampling was carried out on the north wall, south wall, and on the roof of the cross cut. The roof sampling returned an average grade of 36.48 g/t Au, 1.49 oz/t Ag and 0.43% Cu over 4.85 m true width (uncut grades) with one sample returning a maximum gold value of 111.5 g/t Au with 5.14 oz/t Ag, 1.13% Cu over 0.75 m true width. The north wall sampling returned an average grade of 15.58 g/t Au, 0.80 oz/t Ag and 0.020% Cu over 7.40 m true width (uncut grades) including an intersection of 4.90 m (true width) grading 22.35 g/t Au, 1.15 oz/t Ag and 0.29% Cu (uncut grades). Finally, the south wall sampling returned an average grade of 14.35 g/t Au, 0.37 oz/t Ag and over 7.40 m true width (uncut grades) including an intersection of 4.75 m (true width) grading 21.26 g/t Au, 0.54 oz/t Ag and 0.04% Cu (uncut grades).
All told the recent results from underground drilling, sampling in the cross cut, the drift and the raise as well as the historical drilling results demonstrate the mineralization potential in the Manto Dorado.
Two more underground holes have been drilled through the Manto Dorado and the results are pending. Currently underground drilling towards the Rosa vein is underway in order to study this structure. Compilation of the 2013 drilling and excavation results, historical drilling results of the Manto Dorado and Rosa vein will help model the mineralized ore shoots and define future drilling targets and underground excavations. Finally, Dynacor will immediately after the rainy season begin a detailed surface geochemical and geophysical study of the area where disseminated gold mineralization has been discovered at Tumipampa (see press release dated September 27, 2013).
Jean Martineau, President and CEO of Dynacor has commented on the exceptional results obtained on the Manto Dorado: “We are very pleased that our 2nd series of underground exploration results from the Manto Dorado have confirmed and extended the high gold grades that we reported in July 2013. Dynacor will intensify the underground exploration of the Manto Dorado structure as well as the other 5 gold mineralized veins found in this area of the Tumipampa property. We hope to be able to define a first NI 43 101 compliant resource estimation for the Manto Dorado in 2014 and thus create value for our shareholders as we move forward with this very promising project.”
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).
ABOUT DYNACOR GOLD MINES INC.
Dynacor is an ore processing and gold exploration and mining company active in Peru through its subsidiaries since 1996. The Company differentiates itself from pure exploration companies as it also generates income and cash flow from its wholly owned ore processing plant in Peru. The Company’s assets include five exploration properties, including the Tumipampa property, as well as its 230 tpd gold and silver ore processing mill at Huanca. Dynacor’s mill produces gold from the processing of ore purchased from ore producers from all over Peru. Dynacor’s strength and competitive advantage comes with the experience and knowledge the Company 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.
For further information, please contact:
Dale Nejmeldeen | Manager, Investor Relations
Dynacor Gold Mines Inc. (TSX:DNG) (US:DNGDF)
T: 604.492.0099 | M: 604.562.1348 | F: 604.608.9223
1105 – 625, Boul. René-Lévesque West,
Montreal, Quebec H3B 1R2