News
| December 18, 2006 Dynasty Gold Releases Drill Results for Hatu Project, Northwest China | |
| Proceeds on Acquisition of Mining License Vancouver, British Columbia - Dec. 18, 2006 - Dynasty Gold Corp. (TSX VENTURE:DYG)(FWB:D5G) ("Dynasty" or the "Company") is pleased to report the remaining results from its 2006 infill drilling programs at the Qi-2 deposit. The results consist of ninety-three significant intersections of gold, including: - 6 m @ 5.83 g/t Au in RCH015 - 5 m @ 2.86 g/t Au in RCH033 - 5 m @ 4.18 g/t Au in RCH040 - 6 m @ 2.80 g/t Au in RCH040 - 4 m @ 7.32 g/t Au in RCH040 - 8 m @ 2.15 g/t Au in RCH043 Dynasty is using the results from all drilling to recalculate the resource estimate at the Hatu property. The Company anticipates upgrading the resource to the Measured and Indicated category in a NI 43-101 compliant technical report expected this winter. "We are pleased with the results of the program at Hatu overall," commented Dynasty President and CEO, Brian McEwen. "We look forward to moving the project forward in 2007." Dynasty completed 46 reverse circulation and ten diamond drill holes, for a total of 8938 metres drilled this season. A summary of the remaining significant drill hole intersections follows in Table 1, and a map of drill hole locations is posted on Dynasty's website, www.dynastygoldcorp.com. Dynasty follows best practice procedures for quality control in sampling and analysis of drill and other litho-geochemical samples. RC drill samples are approximately four kilograms in size and drill core is sampled in approximately one metre, half-core intervals. Samples are prepared for analysis by the SGS-CSTC Standards Technical Services Ltd. facility in Urumqi and then shipped to the SGS lab in Tianjin for fire assay analysis for gold. Dynasty uses independent reference materials, sample duplicates and check samples to analyze laboratory quality. Given the success at the Hatu project to date, Dynasty has given formal notice to its joint venture partners that it wants to move ahead with obtaining the mining license which sits over much of the Qi-2 ore body. The license is held by an affiliate of Dynasty's Chinese joint venture partner. Under the terms of the contract, the joint venture company may obtain the mining license by negotiating a deal with the affiliate. Any compensation will be paid by Dynasty's Chinese partner out of their share of joint venture. The acquisition of a new mining license can require a long course of action and as such Dynasty is pleased to have the opportunity to expedite the process by acquiring an existing license.
-----------------------------------------------------
Table 1. Drill Hole Intervals greater than 0.8 g/t Au
-----------------------------------------------------
Total
Interval
From To Length Au Grade
Drill Hole (m) (m) (m) (g/t)
-----------------------------------------------------
DDH008 77 78 1 0.94
-----------------------------------------------------
DDH009 19 22 3 1.36
24 25 1 1.72
91 92 1 3.92
144 145 1 1.85
149 150 1 4.01
184 185 1 1.11
194 195 1 2.18
196 198 2 1.30
-----------------------------------------------------
DDH010 56 60 4 1.97
-----------------------------------------------------
RCH015 11 17 6 5.83
38 39 1 2.79
-----------------------------------------------------
RCH017 25 26 1 1.53
-----------------------------------------------------
RCH030 108 110 2 3.12
-----------------------------------------------------
RCH031 112 113 1 0.89
-----------------------------------------------------
RCH032 22 23 1 1.96
65 69 4 1.73
-----------------------------------------------------
RCH033 14 15 1 1.59
26 31 5 2.86
37 39 2 2.13
55 56 1 2.19
146 148 2 8.07
-----------------------------------------------------
RCH036 21 25 4 2.92
55 58 3 1.62
67 68 1 2.50
77 83 6 2.94
102 105 3 1.22
110 111 1 0.87
-----------------------------------------------------
RCH037 0 1 1 1.00
2 3 1 1.87
4 5 1 1.62
6 10 4 2.39
32 35 3 1.28
51 53 2 3.48
57 58 1 1.22
60 62 2 1.43
88 89 1 1.55
-----------------------------------------------------
RCH038 5 7 2 2.75
12 16 4 3.56
17 18 1 1.14
22 24 2 1.19
30 31 1 1.27
33 35 2 4.26
47 48 1 1.79
64 68 4 1.27
72 73 1 1.46
94 97 3 2.03
-----------------------------------------------------
RCH039 88 90 2 1.95
93 96 3 1.47
128 130 2 1.50
-----------------------------------------------------
RCH040 25 26 1 5.00
30 32 2 2.16
33 38 5 4.18
40 46 6 2.81
51 55 4 7.32
66 68 2 1.94
72 76 4 2.07
77 78 1 0.88
80 83 3 2.60
84 85 1 3.42
93 94 1 1.25
100 101 1 2.69
-----------------------------------------------------
RCH041 12 14 2 5.22
17 19 2 1.11
20 21 1 3.65
24 25 1 4.55
30 31 1 1.02
32 33 1 6.60
38 41 3 1.46
43 44 1 1.59
49 50 1 1.86
51 53 2 2.30
-----------------------------------------------------
RCH042 2 3 1 2.39
7 8 1 1.48
30 32 2 1.91
34 36 2 1.58
37 39 2 3.80
40 41 1 0.88
52 53 1 1.11
-----------------------------------------------------
RCH043 20 21 1 1.75
37 45 8 2.15
47 50 3 6.04
54 55 1 1.01
66 68 2 1.11
-----------------------------------------------------
RCH044 48 49 1 0.83
52 53 1 2.03
56 57 1 3.27
58 59 1 0.94
73 74 1 0.83
-----------------------------------------------------
RCH045 6 7 1 1.80
8 10 2 2.08
-----------------------------------------------------
Brian McEwen, Professional Geologist and President of Dynasty Gold Corp., is the qualified person for the Hatu project, as defined under National Instrument 43-101 and has reviewed the contents of this release. Dynasty Gold Corp. is a leading Canadian gold exploration company in China with exploration programs at three highly prospective gold properties and partnerships with AngloGold Ashanti and Avocet Mining. The Qi-2 deposit is host to an Inferred Resource of 16.9 million tonnes at 1.68 g/t Au with a 1.0 g/t Au cut-off. For more information on the Company and its projects, please refer to the website, www.dynastygoldcorp.com. ON BEHALF OF THE BOARD OF DYNASTY GOLD CORP. Brian R. McEwen, President & CEO This press release contains certain "forward-looking statements" that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. CONTACT INFORMATION Dynasty Gold Corp. Ivy Chong CFO (604) 633-2100 or Toll Free: 1-888-899-9669 (604) 484-3559 (FAX) Email: ichong@dynastygoldcorp.com Website: www.dynastygoldcorp.com or Ascenta Capital Partners Jamie Mathers Investor Relations (604) 628-5800 or Toll Free: 1-866-684-4209 Email: info@dynastygoldcorp.com | |
You can view the Next News item: Mon Feb 5, 2007, Dynasty Gold and AngloGold Ashanti to continue exploration partnership at Red Valley and Wild Horse projects, China You can view the Previous News item: Fri Nov 10, 2006, Dynasty to apply to re-price and extend term of warrants and granting of stock options You can return to the main News page, or press the Back button on your browser. |