Dynacor Gold Mines Inc.
TSX : DNG

Dynacor Gold Mines Inc.

February 27, 2014 11:38 ET

Dynacor Drilling Program Continues to Intersect Gold and Copper Grades at the Manto Dorado Structure and Intersects High Gold Grades in the A-Vein, Rosa Vein and Tumi Vein at Tumipampa

Drilling on Manto Dorado intercepts gold and copper grades over 1.70 m assaying 7.09 g/t Au and 0.46% Cu (HDD-09-13) and drilling also intercepts high gold and copper grades in three veins; the A-vein grading 17.28 g/t Au and 2.68% Cu over a true width of 1.50 m, the Rosa vein grading 14.31 g/t Au and 9.57% Cu over a true width of 0.5 m and the Tumi vein grading 122.0 g/t Au and 6.59% Cu over a true width of 0.70 m (HDD-08-13).

MONTREAL, QUEBEC--(Marketwired - Feb. 27, 2014) - Dynacor Gold Mines Inc. (TSX:DNG)(OTC:DNGDF) (Dynacor or the Corporation) is pleased to announce underground drilling results performed on the Manto Dorado structure oriented N58°E dipping 22°NW (Figure 1) and on three mineralized veins, namely the A-, Rosa and Tumi veins (see Figure 2). Table 1 shows the results obtained from nine (9) holes that have been drilled from the underground drilling station. Four (4) holes HDD-01-13-350 to HDD-04-13-350 intercepting high gold grades and polymetallic mineralization were announced in a press release dated December 19, 2013. Three (3) drill holes, HDD-05-13-350, HDD-06-13-350 and HDD-09-13-350 have just been drilled from underground and intercepted the mineralized Manto Dorado structure and two (2) drill holes, HDD-07-13-350 and HDD-08-13-350 intercepted three mineralized quartz veins with gold and polymetallic mineralization, the A-vein, Rosa vein and Tumi vein. One (1) of the three (3) drill holes intercepted gold grades and polymetallic mineralization in the Manto Dorado structure and one (1) of the two (2) drill holes intercepted high gold grades and high copper grades in the quartz vein structures (A-vein, Rosa vein and the Tumi vein. (see Table 1 and Figures 1,2 and 3).

Manto Dorado Structure

The results of the three (3) recent drill holes (HDD-05-13-350, HDD-06-13-350 and HDD-09-13-350) confirm the continuity of the mineralization from the cross cut downwards to the intersect of drill hole HDD-09-13-350 that is located 41.0 m below the cross cut. The latter drill hole returned grades of 7.09 g/t Au, 0.09 oz/t Ag and 0.46% Cu over a true width of 1.70 m.

Overall, the seven (7) underground drill holes (838 meters) targeting the Manto Dorado structure confirm the continuity of the high grade gold and copper mineralization extending the mineralization from the surface cut to the drill hole HDD-04-2008, to the cross-cut, to the drill holes HDD-09-13-350, HDD-01-13-350, HDD-04-13-350, HDD-02-13-350 and HDD-03-13-350 extending the mineralization 295 m downwards from the surface.

The results of three drill holes HDD-05-13-350 (0.99 g/t Au, 0.07 oz/t Ag, 0.01% Cu over 1.91 m), HDD-06-13-350 (0.37 g/t Au, 0.09 oz/t Ag, 0.01% Cu over 1.10 m) and HDD-09-13-350 (7.09 g/t Au, 0.09 oz/t Ag, 0.46% Cu over 1.70 m) are shown in Table 1 and Figure 1.

Previously announced results (see press release dated December 19, 2013 ) in the drift oriented N45E excavated 44.8 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 (including 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 (including 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 1.5 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.

Results (see press release dated December 19, 2013) from 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.

A-vein, Rosa vein and Tumi vein

Underground drilling of drill holes HDD-07-13-350 and HDD-08-13-350 tested the high grade gold and copper mineralization at depth in three quartz veins and extending the mineralization in the Rosa vein at depth an extra 245 m from the drill hole HDD-11 to the recently drilled hole HDD-08-13-350. High grade gold (Au) and copper (Cu) assays for all three veins were found in drill hole HDD-08-13-350 (A-vein 17.28 g/t Au, 0.25 oz/t Ag, 2.68% Cu over 1.50 m, Rosa vein 14.31 g/t Au, 0.70 oz/t Ag, 9.57% Cu over 0.50 m, and Tumi vein 122.00 g/t Au, 1.03 oz/t Ag, 6.59% Cu over 0.70 m), whereas lower grades were found in drill hole HDD-07-13-350, the complete data is given in Table 1 and Figure 3.

Table 1. Results from the underground drilling of the Manto Dorado structure and the A-vein, Rosa vein and Tumi vein, Tumipampa.

Drill Hole Total Length
(m)
Target Depth
(m)
Intersection
Width (m)
Au (g/t) Ag (oz/t) Cu (%)
HDD01-350-IM 120.8 Manto Dorado 62.70 1.56 14.67 0.24 0.51
HDD02-350-IM 101.5 Manto Dorado 51.00 1.10 115.66 0.52 3.03
HDD03-350-IM 131.0 Manto Dorado 57.55 1.42 23.73 0.25 0.19
HDD04-350-IM 109.5 Manto Dorado 56.30 0.60 7.25 0.10 0.42
HDD05-350-IM 154.8 Manto Dorado 125.50 1.91 0.99 0.07 0.01
HDD06-350-IM 108.7 Manto Dorado 54.60 1.10 0.37 0.09 0.01
HDD07-350-IM 452.4 A-vein 85.40 0.85 0.53 0.03 0.001
Rosa vein 241.90 1.20 3.08 0.17 0.33
Tumi vein 315.40 0.90 0.02 0.19 0.01
HDD08-350-IM 463.0 A-vein 62.80 1.50 17.28 0.25 2.68
Rosa vein 325.30 0.50 14.31 0.70 9.57
Tumi vein 362.20 0.70 122.00 1.03 6.59
HDD09-350-IM 111.70 Manto Dorado 35.60 1.70 7.09 0.09 0.46
TOTAL 9-DDH 1753.40

Table 2. Results from the sampling of Drift-190 and Raise-125 of the Manto Dorado structure, Tumipampa.

Drift 190 Drift Length Target Intersection
Width (m)
Au (g/t) Ag (oz/t) Cu (%)
Drift 190 No.1 26 Manto Dorado 1.5 27.833 0.401 1.691
Drift 190 No.2 12 Manto Dorado 1.5 6.377 0.054 0.224
Drift 190 No.3 7 Manto Dorado 1.5 0.04 0.022 0.006
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 and for assays greater than 10 g/t Au a gravimetric FAA finish assay is used. Standards, blanks and duplicates are used in the sampling process as part of the QA/QC for the sampling in the cross cut. 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, 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). The recent results from the underground drilling, sampling in the cross cut, drift, raise and the historical results demonstrate the mineralization potential in the Manto Dorado.

Northwest of the Manto Dorado other veins were intercepted in the 2002-2003 and 2008 drilling campaigns. The Rosa Vein was intercepted by drill hole TCD6 grading 12.25 g/t Au and 0.023 oz/t Ag over 1.30 m, by drill hole HDD07 grading 13.80 g/t Au and 0.09 oz/t Ag over 0.65 m and by drill hole HDD11 grading 6.33 g/t Au and 0.073 oz/t Ag over 2.76 m.

Disseminated Gold Mineralization at Tumipampa

Disseminated close to the surface gold mineralization was reported in a press release dated September 27, 2013. Two drill holes HDD-09-13 and HDD-10-13 found the following gold grades 0.457 g/t Au over 12.4 meters and 0.151 g/t Au over 12.2 meters, respectively. These two cores have been resampled and the following results were obtained. Core HDD-09-13: 0.402 g/t Au over 15.05 meters and Core HDD-10-13: 0.150 g/t Au over 18.0 meters.

Figure 1. Longitudinal view of the Manto Dorado, underground drilling HDD01-2013 to HDD-06-2013 and HDD-09-2014, Manto Dorado, Tumipampa. This figure is available at the following address: http://media3.marketwire.com/docs/Dynacor_Figure1.pdf

Figure 2. Longitudinal view of the Rosa vein and underground drilling of the drill holes HDD-07-2013 and HDD-08-2013, Rosa vein, Tumipampa. This figure is available at the following address: http://media3.marketwire.com/docs/Dynacor_Figure2.pdf

Figure 3. Drill Section of the drill holes, veins, Manto Dorado structure, cross cut, drift and raise and sampling results, Manto Dorado, Tumipampa. This figure is available at the following address: http://media3.marketwire.com/docs/Dynacor_Figure3.pdf

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 250 tpd gold and silver ore processing mill at Acari. 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.

Dynacor Gold Mines Inc. (TSX:DNG)

Website: http://www.dynacorgold.com

Twitter: http://twitter.com/DynacorGold

Facebook: http://www.facebook.com/pages/Dynacor-Gold-Mines-Inc/222350787793085

Shares outstanding: 36 373 587

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