|October 01, 2007|
Dynasty Gold Announces Exploration Update for Red Valley and Hatu Projects in China
|Vancouver, Canada: Dynasty Gold Corp. (TSX-V: DYG)(FWB: D5G) ("Dynasty" or the "Company") announces the results from the 2007 drill program at the Red Valley project, Qinghai Province, China. Due to the onset of winter, the drilling program has now been completed for the year. Dynasty will work with their partners Anglo Gold Ashanti to assess the results and plan the next stage in the program. |
Twenty-one diamond holes for a total of 3,380 metres have been drilled in fences over three prospects: the Red Valley West, Red Valley Duplex Structure and Xigou. One hole was abandoned due to drilling conditions above the target intersection. The results for two holes are pending. A summary of assay results received to date can be found below in Table 1.
Table 1. Red Valley Drill Hole Intervals, August 15th 2007
The Red Valley project is situated within the Qilian fold belt, a NW-SE trending assemblage of late Proterozoic to Ordovician aged sediments and volcanics. Major structural trends within the region are NW-SE with less topographically pronounced EW and NE trending cross structures. In 2006 Dynasty and AngloGold drilled 18 holes in the Red Valley prospects, and completed detailed geological mapping, soil sampling, ground magnetic surveys and IP surveys. The work delineated coincident anomalies and outlined a duplex structure which was postulated to be a host to significant gold mineralization. Drilling in 2006 did not test the main part of this system, and this therefore became the main target of drilling in 2007. In addition, the Chauncigou prospect to the south was drill tested with 17 holes in 2006 but the interpretation of results indicated that work also did not hit the main part of the system in that area, and 2007 drilling was designed to further test this area.
The Red Valley West prospect is at the northwest end of the target area. Holes 64 to 67 and hole 78 were drilled in a fence running southwest-northeast. Holes 68 and 69 were drilled in a similar fence situated approximately 300 metres southeast from the first line.
The Red Valley Duplex structure sits approximately three kilometers southeast of the Red Valley West Structure. Six holes were drilled into the duplex structure, in a fence running north-south. The majority of intersections, and those with the highest grade in both the Red Valley West and Duplex structure occurred in mafic volcanic units.
The Chuancigou prospect lies about four km to the southeast of the Red Valley Duplex. Six holes have been drilled to date in two sections running approximately northwest-southeast. Holes 83 and 85 have results pending. Of the four holes returned from this program, only two returned mineralized intersections, both of which occurred in serpentinite sequences.
Dynasty follows best practice procedures for quality control in sampling and analysis of drill and other litho-geochemical samples. Drill core is sampled in approximately one metre, half-core intervals. Samples are prepared and analysed by the SGS-CSTC Standards Technical Services Ltd.. laboratory in Tianjin for fire assay analysis for gold. Dynasty uses independent reference materials, sample duplicates and check samples to analyze laboratory quality.
Brian McEwen, Professional Geologist, is the qualified person for the Red Valley project, as defined under National Instrument 43-101 and has reviewed the contents of this release.
At Dynasty's Hatu Project in Xinjiang Province, the company announced a US$300,000 exploration program (see Dynasty's Press Release dated August 23, 2007), which includes 12 square kilometers of geological mapping; a geophysical survey of 180 square kilometers; 1,500 cubic meters of trenching; and sampling. To date, 45 square kilometers of geophysical survey has been completed. Trenching is in progress, as well as soil sampling and geological mapping. Field work is expected to be completed by the end of November.
Dynasty Gold Corp. is a Canadian gold exploration company working in China with three prospective gold properties currently being explored through partnerships with AngloGold Ashanti and Avocet Mining.
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.
Ivy Chong, Interim President & CEO
For additional information please contact:
Toll Free: 1.888.899.9669
Jamie Mathers, Ascenta Capital Partners
Toll Free: 1.866.684.4209
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.
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