Dynacor Gold Mines Inc.
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Dynacor Gold Mines Inc.

October 26, 2015 06:30 ET

Dynacor-Anta Property: Surface Channel Sampling Campaign Finds High Grades of Silver Up to 43.37 oz/t Ag and Gold Up to 99.67 g/t Au

MONTREAL, QUEBEC--(Marketwired - Oct. 26, 2015) - Dynacor Gold Mines Inc. (TSX:DNG)(OTC:DNGDF) (Dynacor or the Corporation) is pleased to announce the results of its surface exploration campaign that was carried out over the past 18 months on its 100% owned silver and gold Anta Property located in Southern Peru. Three hundred and sixty (360) channel samples were analysed and the results are highlighted below.

Please refer to our website for further details on the Anta Property including its geology, maps and other relevant facts and pictures. www.dynacorgold.com

Exploration Highlights

  • 1,800 meters of surface outcrops of six (6) mineralized structures were studied;
  • Structure true widths (TW) ranged up to 3 meters;
  • Structure outcrops had lengths ranging from 100 to 600 meters;
  • High grade silver mineralization was found in three structures: Anta vein (up to 43.37 oz/t Ag and 3.38% Cu over 0.3 m) and the Aragonés vein (20.89 oz/t Ag and 0.47% Cu over a TW of 0.3 m) as well as in the Manto Norte (13.51 oz/t Ag and 0.31 % Cu over a TW of 0.80 m);
  • High grade gold mineralization was found in one structure: Manto Antezana - A 150-meter long outcrop of the Manto Antezana returned an average gold grade of 12.87 g/t with an average TW of 0.1 m, including a channel sample grading 99.67 g/t gold, 6.59 oz/t silver and 0.6% copper (TW = 0.1m); and finally
  • High lead and zinc grades was found in two structures: Huanca vein (up to 11.41% Pb over a TW of 0.2 m and 1.19% Zn over a TW of 0.3m) and in the Manto Norte (up to 12.2 % lead (TW of 0.2m) and 19.16 % zinc (TW of 0.2m).

The three (3) most significant channel sample assays for each structure are given in Table 1. Outcrop lengths, number of channel samples, true width (TW) ranges for each structure as well as the average measured grades for the six (6) structures are given in Table 2.

Table 1. Three (3) best Channel Samples for Each of the Six (6) Structures

Structure Channel Sample Silver Gold Copper Lead Zinc
Sample # width (m) (oz/t) (g/t) (%) (%) (%)
Anta Vein 5984 0.3 43.37 0.03 3.38 0.33 0.23
6010 0.2 25.24 0.011 1.08 0.05 0.1
3961 0.15 22.09 0.209 8.81 0.08 0.11
Aragonés Vein 5959 0.3 20.9 0.008 0.41 0.18 0.27
5965 0.7 5.82 0.007 0.1 0.02 0.35
5960 0.6 4.82 0.005 0.03 0.01 0.14
Manto Norte 3952 0.8 13.5 0.028 0.31 12.2 0.95
6862 0.4 9.93 0.025 0.09 5.93 0.38
6082 0.2 5.17 0.037 0.05 2.31 19.16
Manto Antezana 6058 0.1 6.59 99.67 0.6 0.02 0.04
6878 0.14 3.86 67.84 0.51 0.01 0.03
6895 0.06 2.09 63.74 0.77 0.05 0.1
Huanca Vein 6560 0.2 0.1 0.014 0.1 11.41 0.88
6566 0.2 0.58 0.045 0.94 6.82 0.71
6562 0.4 1.17 0.03 0.09 5.06 1.22
Salomon Vein 6704 0.15 0.07 1.856 0.02 0.02 0.02
6722 0.2 0.32 0.0205 0.1 1.3 1.05
6698 0.25 0.03 0.192 0.01 0 0.01

Table 2. OUTCROP LENGTHS, NUMBER OF CHANNEL SAMPLES, RANGE OF STRUCTURE TRUE WIDTHS (TW) AND WEIGHTED AVERAGE GRADES IN THE SIX (6) MINERALIZED STRUCTURES

Structure Outcrop No of Channel Range of Structure Silver Gold Copper Lead Zinc
Length (m) Samples TW (m) (oz/t) (g/t) (%) (%) (%)
weighted average values
Anta Vein 600 135 0.10 - 3.0 2.39 0.01 0.08 0.23 0.09
Aragonés Vein 200 48 0.20 - 1.7 0.94 0.01 0.02 0.02 0.04
Manto Norte 100 18 0.15 - 1.10 2.91 0.02 0.18 2.64 0.91
Manto Antezana 150 32 0.05 - 0.20 1.14 12.87 0.2 0.02 0.07
Huanca Vein 350 30 0.20 - 0.6 0.15 0.009 0.07 0.87 0.25
Salomon Vein 400 97 0.10 - 1.0 0.09 0.033 0.02 0.11 0.09

Conclusions

These first results are very encouraging since the channel samples from surface outcroppings show high gold and silver grades as well as high base metal grades for copper, lead and zinc. In order to further explore the potential of this property a surface diamond drilling campaign is warranted in order to find the depth extensions with economic grades of these six (6) structures.

Sampling Methodology, Analysis and QA/QC procedures

Trenches were excavated to remove the quaternary overburden and expose surface outcrops of each structure. A total of 360 channel samples were taken over 1,800 meters of the six studied outcrops. In general, channel samples were located every 5 meters along the outcrops.

In late 2014, Geologica Groupe Conseil from Val d'Or, Canada visited the Anta property and took some samples. Their results are reported in an Annex to this press release.

The samples were sent to the internationally certified laboratory Certimin S.A. for analysis. Samples were assayed by ICP analysis and for base metal assays greater than 10,000 ppm for Ag and Cu were re-analysed by Ore Grade method OG62 for Ag and Cu and for gold assays greater than 10 g/t the samples were also analysed by FAA gravimetric finish. Standards, blanks and duplicates are used in the sampling process as part of the QA/QC methodology. Additional check samples were sent to SGS del Peru S.A.C and for carrying out spot check analysis verifications. The program, sampling, collection of samples and the QA/QC was 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 Corporation and is a geologist affiliated to the American Institute of Professional Geologists (AIPG)

Annex: Results obtained by Geologica Groupe Conseil, Val d'Or

Two veins (Anta and Aragonés veins) that have been mined by artisanal miners in the past were sampled by Geologica Groupe Conseil.

Four samples were collected, three samples were collected from the Anta Vein, one sample 7054 collected across the vein as chip samples returned an assay of 39.87 oz/t Ag (uncut assay) over a true width of 1.5 m and two samples in a muck pile of the Anta Vein returned assays of 7.59 oz/t Ag, 1.21 % Cu and 7.04 oz/t Ag (See Table A below). The fourth sample 7057 was collected across the Aragonés Vein as chip samples assaying 46.46 oz/t Ag (uncut assay) and 1.09% Cu over a true width of 1.5 m.

Table A. Results obtained by Geologica Groupe Conseil Inc. on the Anta and Aragonés veins (Anta Property). Grades reported are uncut.

Structure Sample Type of Sample Sampling width Au Ag Cu Zn
No (m) g/t oz/t % %
Anta Vein 7054 Chip sampling across vein 1.50 <0.5 39.87 --- 0.17
Anta Vein 7055 Muck pile sample --- <0.5 7.59 1.21 0.13
Anta Vein 7056 Muck pile sample --- <0.5 7.04 --- 0.12
Aragonés Vein 7057 Chip sampling across vein 1.50 <0.5 46.46 1.09 0.23

Geologica Groupe Conseil Sample Analysis and QA/QC procedures

The samples were sent to the internationally certified laboratory ALS Mineral Peru S.A. in Lima, Peru for analysis. The program, sampling, collection of samples and the QA/QC of this sampling program was defined and supervised by the external QP Alain-Jean Beauregard, P.Geo. of Geologica Groupe Conseil Inc. of Val-d'Or, Canada.

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:DNG)

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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