Dynacor Gold Mines Inc.
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Dynacor Gold Mines Inc.

November 10, 2015 06:55 ET

Dynacor: Discovery of a Large Copper-Gold Porphyry and Associated Skarns at Tumipampa

MONTREAL, QUEBEC--(Marketwired - Nov. 10, 2015) - Dynacor Gold Mines Inc. (TSX:DNG)(OTC:DNGDF) (Dynacor or the Corporation) is very pleased to announce the discovery of a large copper-gold porphyry (1.7 km long) in the northwest area of its 100 % owned Tumipampa property. Detailed geological mapping, geophysical data and rock geochemical data (344 assays) were compiled and led to the discovery of this copper-gold porphyry and associated skarn structures.

Highlights

  • Discovery of a copper-gold porphyry "El Potro", that is 750 meters wide and 1,700 meters long orientated to the NW, located 2.3 km to the west of the Manto Dorado and other high grade gold veins;
  • Twenty five (25) surface samples taken directly on outcrops of the porphyry showed high anomalous copper grades ranging from 0.012 to 0.22% Cu (Table 1);
  • Fourteen (14) surface samples taken directly on outcrops of the porphyry showed high anomalous gold grades ranging from 0.10 to 2.51 g/t Au (Table 2);
  • Samples collected on a skarn inside the porphyry were anomalous in Ag, Cu, Mo, Pb and Zn with values as high as 40.4 g/t Ag, 0.438% Cu, 108 ppm Mo, 0.99% Pb and 2.26% Zn (Table 3).
  • Fifty-five (55) samples collected in the Skarn 4 area were anomalous in copper with grades between 0.1 to 3.63% Cu (Table 4);
  • Nineteen (19) samples collected in the Skarn 4 area were anomalous in gold with grades between 0.13 to 9.59 g/t Au (Table 5).

Alonso Sanchez Dynacor's chief geologist has analysed all the data and has concluded:

  1. This new discovery is very significant since we have perhaps found one of the "feeder systems" that is responsible for the high gold and copper grades found at Tumipampa. Further exploration from the vein area trending to the west towards the Porphyry will allow us to explore this hypothesis and possibly discover new mineralized structures;
  2. The discovery of a porphyritic body is further proof of the incredibly diverse geology of the Tumipampa property and its potential.
  3. Considering the importance of this discovery, the porphyritic system and its associated skarn structures will be actively explored in the coming year by further detailed surface geochemical sampling as well as targeted drilling of the porphyry based on geochemical and geophysical anomalies.

Geology and Exploration Methodology

Exploration carried out in the northwest sector of the the Tumipampa property during the first 9 months of 2015 has revealed the existence of a large Cu-Au porphyritic system which has been named the "El Potro" porphyry system (see Photo 1 and Figures 1 and 2).

This porphyry is 750 m wide and extends 1,700 meters to the northwest and consists of a fine to medium grained porphyritic diorite intrusive with fine N315°E oriented quartz veinlets mineralized with pyrite and chalcopyrite. The intrusive has weak to moderate chloritic alterations (chlorite-magnetite-pyrite assemblages) and moderate propylitic alterations (epidote, weak chlorite-carbonate-pyrite, with a weak chalcopyrite assemblage). The porphyry is cut by three veinlet events. Two of the predominant veinlets are oriented N315°E and N344°E (see Photo 2) contain quartz-magnetite-chalcopyrite (Qz-Mt-Cpy) and Mt-Cpy and the third veinlet oriented N066°E and N097°E that contains only quartz. The sulphides are irregularly distributed (disseminated and in veinlets) and with fine chalcopyrite associated with the quartz veinlets.

The geophysics, ground magnetic and IP (induced polarization) - chargeability, show anomalies associated with this type of mineralization consisting of disseminated chalcopyrite and magnetite in the veinlets.

All told 344 surface channel samples and surface rock chip samples were collected and analyzed. Directly on the "El Potro" porphyry 221 samples were collected and 15 samples in a skarn located within the porphyry. Finally 108 samples were taken from Skarn 4 area.

Within the porphyry 25 surface samples are anomalous in copper between 0.012% Cu to 0.22% Cu (Table 1) and 14 samples anomalous in gold between 0.10 g/t Au to 2.51 g/t Au (Table 2).

All of the 15 samples collected in the skarn located within the porphyry had anomalous values of Ag, Cu, Mo, Pb or Zn with values as high as 40.4 g/t Ag, 0.438% Cu, 108 ppm Mo, 0.996% Pb, and 2.26% Zn. (see Table 3).

Fifty (55) samples of the 108 samples taken in Skarn 4 area returned anomalous values in copper between 0.01% Cu to as high as 3.63% Cu (see Table 4) and 19 samples returned anomalous values in gold between 0.13 g/t Au and as high as 9.59 g/t Au (see Table 5).

Finally, Jean Martineau Dynacor's CEO and President has commented "I am very pleased that we have found a large Cu-Au porphyry and its associated skarns since this opens a window of opportunity for Dynacor to make further discoveries of mineralized structures on this amazing property. Our geologists are very optimistic and are now planning how best to further the exploration of this area."

Additional underground exploration results from the cross-cuts are pending and will be released as soon as they are available.

Sample Analysis and QA/QC procedures

The samples were sent to the internationally certified laboratory ALS CHEMEX S.A. for analysis. Samples were assayed by ICP-AES, ICP-MS and AAS analysis. Standards, blanks and duplicates are used in the sampling process as part of the QA/QC methodology. Additional check and spot check samples were sent to SGS del Peru S.A.C. 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)

Table 1. Anomalous Copper samples from the "El Potro" Porphyry (Tumipampa 2015)

Sample No. Type of Sample True Width (m) Au (g/t) Cu (%) Mo (ppm)
6188 Channel 0.5 0.509 0.22 3.4
6119 Rock Chip 0.237 0.171 16.2
6194 Channel 0.5 2.51 0.121 6.52
6121 Rock Chip 0.155 0.083 3.45
6221 Channel 3.4 0.167 0.07 2.26
6232 Channel 2.3 0.008 0.057 7.76
6352 Channel 1.8 0.138 0.039 5.53
6260 Channel 1.7 0.01 0.035 1.15
6105 Channel 1.00 0.081 0.034 0.4
6333 Channel 2.7 0.369 0.034 1.6
6106 Channel 1.6 0.053 0.032 0.8
6224 Channel 3.1 0.01 0.031 66.3
6353 Channel 2.35 0.026 0.028 11.75
6268 Channel 3.00 0.053 0.026 0.74
6222 Channel 2.8 0.006 0.023 2.65
6117 Channel 3.00 0.006 0.021 0.54
6107 Channel 1.5 0.006 0.02 1.08
6160 Channel 4.4 0.0025 0.019 0.15
6274 Channel 0.6 0.088 0.018 0.99
6303 Channel 0.45 0.006 0.016 0.13
6229 Channel 2.2 0.078 0.015 0.91
6354 Channel 2.4 0.021 0.014 3.33
6189 Channel 0.4 0.531 0.014 4.86
6270 Channel 3.00 0.026 0.014 6.87
6312 Channel 1.95 0.033 0.012 0.35

Table 2. Anomalous gold surface samples from the "El Potro" Porphyry (Tumipampa 2015)

Sample No. Type of Sample True Width (m) Au (g/t) Cu (%) Mo (ppm)
6194 Channel 0.5 2.51 0.1205 6.52
6180 Channel 1.2 0.778 0.0009 20,00
6189 Channel 0.4 0.531 0.01425 4.86
6188 Channel 0.5 0.509 0.22 3.4
6333 Channel 2.7 0.369 0.034 1.6
6119 Rock Chip 0.237 0.171 16.2
6133 Rock Chip 0.211 0.003 1.57
6221 Channel 3.4 0.167 0.07 2.26
6121 Rock Chip 0.155 0.082 3.45
6360 Channel 2.8 0.145 0.003 11.35
6352 Channel 2.7 0.138 0.0385 5.53
6327 Channel 1.5 0.123 0.005 4.89
6324 Channel 2.5 0.105 0.005 0.86
6328 Channel 1.7 0.101 0.003 0.99

Table 3. Significant Base Metal Anomalies (Cu, Pb, Zn and Ag) in the Associated Skarn within the Porphyry

Sample Type of
Sample
True
Width (m)
Au (g/t) Ag (g/t) Cu (%) Mo (ppm) Pb (%) Zn (%)
6103 Channel 1.00 0.015 39.9 0.0383 2.32 0.996 0.003
6104 Rock Chip 0.0025 0.12 0.00015 0.18 0.00195 0.0019
6115 Rock Chip 0.0025 0.6 0.0274 0.93 0.00167 0.006
6208 Channel 2.1 0.061 16.35 0.258 23.8 0.0725 1.445
6210 Channel 1.9 0.043 40.4 0.438 108,00 0.325 1.43
6211 Channel 3.8 0.037 16.15 0.292 15.35 0.0175 2.26
6212 Channel 2.9 0.009 7.46 0.201 24.1 0.0414 0.472
6213 Channel 2.7 0.11 5.3 0.0922 38.5 0.169 0.401
6214 Channel 5.2 0.017 12.1 0.394 18.45 0.0597 1.315
6215 Channel 4.3 0.013 5.23 0.039 5.71 0.275 0.337
6216 Channel 3.3 0.012 5.28 0.0663 23.1 0.0644 0.482
6217 Channel 2.83 0.005 0.51 0.00445 0.95 0.00143 0.0556
6218 Channel 4.3 0.007 0.74 0.00845 4.69 0.0264 0.354
6219 Channel 5.2 0.009 4.8 0.0218 21.8 0.233 1.575
6223 Channel 3.7 0.0025 0.76 0.061 0.55 0.00077 0.013

Table 4. Fifteen (15) most significant copper assays out of a total of fifty five (55) anomalous samples1 from Skarn area 4

Sample Type of Sample True Width (m) Au (g/t) Ag (g/t) Cu (%) Mo (ppm)
6854 Channel 0.4 4.86 33.9 3.63 6.63
6843 Channel 0.4 1.75 27.2 3.16 40.2
6852 Channel 0.5 4.59 31.9 3.14 19.55
6807 Channel 1.3 0.038 19.25 2.98 28.2
6840 Channel 1.7 3.31 29.00 2.64 16.2
6185 Channel 3.00 0.0025 6.58 2.11 0.01
6842 Channel 0.8 9.59 43.2 1.71 11.05
6387 Channel 1.05 0.012 6.05 1.655 3.73
6855 Channel 0.6 2.8 15.55 1.28 20.9
6862 Channel 1.8 0.069 16.05 0.885 3.51
6805 Channel 1.4 0.019 4.14 0.878 3.33
6364 Channel 1.8 0.137 9.13 0.674 4.11
6833 Channel 1.2 1.01 22.00 0.645 0.61
6853 Channel 0.5 1.74 4.00 0.616 0.8
6803 Channel 3.00 0.052 3.99 0.54 8.92

1 The complete data set is published on our website (www.dynacorgold.com)

Table 5. Fifteen (15) most significant gold assays out of a total of nineteen (19) anomalous samples1 from Skarn area 4

Sample Type of Sample True Width (m) Au (g/t) Ag (g/t) Cu (%) Mo (ppm)
6842 Channel 0.8 9.59 43.2 1.71 11.05
6854 Channel 0.4 4.86 33.9 3.63 6.63
6841 Channel 1 4.65 16.9 0.1285 47.8
6852 Channel 0.5 4.59 31.9 3.14 19.55
6840 Channel 1.7 3.31 29.0 2.64 16.2
6855 Channel 0.6 2.8 15.55 1.28 20.9
6824 Channel 1.4 2.07 10.75 0.00327 1.89
6843 Channel 0.4 1.75 27.2 3.16 40.2
6853 Channel 0.5 1.74 4.0 0.616 0.8
6822 Channel 1 1.1 2.26 0.00601 11.3
6833 Channel 1.2 1.01 22.0 0.645 0.61
6400 Channel 2 0.625 9.55 0.109 6.41
6837 Channel 1 0.618 6.48 0.368 2.9
6844 Channel 1.1 0.535 250 0.455 7.42
6839 Channel 2.2 0.506 1.36 0.0492 2.33

1 The complete data set is published on our website (www.dynacorgold.com)

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 37.4 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.
    T: 514-393-9000 Ext. 228

    Dale Nejmeldeen
    Investor Relations
    Dynacor Gold Mines Inc.
    T: 604.492.0099
    M: 604.562.1348
    nejmeldeen@dynacor.com