Dynacor Gold Mines Inc.
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Dynacor Gold Mines Inc.

February 12, 2015 16:05 ET

Dynacor Receives Independent Report on Tumipampa-Selective Samples Return Highest Grades to Date up to 326 g/t Gold and 13.9% Copper

MONTREAL, QUEBEC--(Marketwired - Feb. 12, 2015) -

Editors Note: There is a photo associated with this press release.

Dynacor Gold Mines Inc. (TSX:DNG)(OTC:DNGDF) (Dynacor or the Corporation) has contracted Geologica Groupe-Conseil Inc. from Val d'Or, Canada, to carry out a review of its exploration properties and within this mandate very significant results (high gold grades up to 326 g/t Au (10.48 oz/t) and copper grades up to 13.9% Cu) have been obtained on Manto Dorado samples (see Tables 1 and 2). It should be noted that the assay data reported below are uncut assays and the samples were taken from massively mineralized segments within the Manto Dorado (see Photo 1). Overall, the results obtained by Geologica Groupe-Conseil Inc. are coherent with results that have been published by Dynacor on the Manto Dorado located on the Tumipampa property.

Results

The Manto Dorado structure is mineralized in pyrite, chalcopyrite and sphalerite, and above the structure there is magnetite, hematite and some graphite. This structure was first discovered in July 2013 (see press release dated July 16, 2013).

In this independent review, three types of samples were collected: four (4) chip samples from the Manto Dorado, a muck pile sample from within the Manto Dorado and six (6) samples from previously assayed cores from underground drilling that had intersected the Manto Dorado. All eleven (11) samples assayed confirm high gold, silver and copper grades found in this important mineralized structure at Tumipampa.

Samples 4502 to 4505 were collected along the Manto Dorado as 30 cm wide chip samples from three different sites along a 30 meter drift (see Figure 1) and returned assays between 95.6 g/t Au and 326 g/t Au (uncut), between 1.39 oz/t Ag and 7.88 oz/t Ag (uncut), and between 1.89% Cu and 11.8% Cu (see Table 1).

Sample 4501 was taken from a muck pile of the Manto Dorado mineralized material located in the same sampling area (See Figure 1, Table 1, Photo 1). The muck pile sample assay also returned high gold and copper grades of 60 g/t Au (uncut) and 4.01% Cu (uncut).

The sampling program also included the resampling of 4 previously sampled drill cores: HDD-13-01-350, HDD-13-02-350, HDD-13-03-350 and HDD-13-04-350 which had intersected the Manto Dorado mineralised structure (see Table 2). These cores were drilled from an underground drilling station and are stored at Dynacor's secure core storage facility in Nazca. The mineralization previously sampled half core was resampled as quarter core, photographed, put in bags, sealed and sent to the ALS-Chemex laboratory in Lima, Peru. The uncut assay results are given in Table 2.

Table 1: Manto Dorado Chip and Muck Sampling by Geologica Groupe-Conseil inc. (Tumipampa, November 2014 (Uncut)).

Site Structure Sample Sample Site Width Au Ag Cu Zn
No No (m) g/t oz/t % %
Tumipampa Manto Dorado 4502 5 0.3 228 1.95 1.89 0.02
Tumipampa Manto Dorado 4503 6 0.3 326 2.50 2.69 0.04
Tumipampa Manto Dorado 4504 7 0.3 95.6 7.88 11.8 0.38
Tumipampa Manto Dorado 4505 8 0.3 113 1.39 9.54 0.01
Tumipampa Manto Dorado 4501 Muck pile n. a. 60 0.77 4.01 0.01

Table 2: Resampling* of underground drilling cores that intersected the Manto Dorado structure (Tumipampa, November 2014, uncut assays)

Core Id Sample No. True Width Au (g/t) Ag (oz/t) Cu (%) Zn (%)
HDD-01-13-350 7058 0.46 300.0 1.96 1.79 0.01
HDD-01-13-350 7059 0.18 90.0 1.51 10.70 0.01
HDD-02-13-350 7060 0.50 39.5 1.34 13.70 0.00
HDD-02-13-350 7061 0.60 109.0 0.83 1.82 0.01
HDD-03-13-350 7062 1.15 34.4 1.11 13.90 0.01
HDD-04-13-350 7063 0.6 53.6 3.60 11.90 0.00

* The grades reported in Table 1 and Table 2 are selected samples from the drift, muck pile and drill cores and are not representative of the mineralization on the property.

Sample Analysis and QA/QC procedures

The samples are sent to the internationally certified laboratory ALS Mineral Peru S.A. in Lima, Peru for analysis. Samples were assayed by ICP analysis and for gold 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.

The 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 and follows the QA/QC procedures defined by Alonso Sanchez, Chief Geologist for Dynacor Gold Mines.

Conclusions

In the review of Dynacor's exploration properties carried out by Geologica Groupe-Conseil inc, very high gold and copper grades have been found in both the chip samples and in the muck pile sample taken from within the Manto Dorado. The gold and copper uncut assays from the resampling of the underground Manto Dorado drill cores also returned high grades. Dynacor's President and CEO Jean Martineau stated "We are very pleased with these high grade results and the independent review that confirm the potential of our flagship exploration property. In 2015-2016, Dynacor will aggressively pursue its exploration campaign at Tumipampa."

This Press Release has been read and approved by Alonso Sanchez, 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 a gold ore processing and exploration company active in Peru since 1996. The Company differentiates itself from pure exploration companies as it generates income from its wholly owned ore processing plant. Dynacor's basic share count at 36.2 million outstanding is in the lowest quartile of the resource sector. The Company'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 Huanca. The Company'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)

Website: http://www.dynacor.com

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Figure 1 is available at the following address: http://media3.marketwire.com/docs/992028_ENG_Figure1.pdf

Contact Information

  • Dynacor Gold Mines Inc.
    Jean Martineau
    President and CEO
    514-393-9000 Ext. 228

    Dynacor Gold Mines Inc.
    Dale Nejmeldeen
    Investor Relations
    604.492.0099 / M: 604.562.1348
    604.608.9223 (FAX)
    nejmeldeen@dynacor.com