Dynasty Gold expands Thundercloud project

High-grade discoveries and new exploration plans

Dynasty Gold has two gold assets in the most desirable mining camps in North America. The first is the Thundercloud property, which is in the Archean Manitou-Stormy Lakes Greenstone Belt in Western Ontario,
47-km southeast of Dryden, and has a geological setting similar to the Abitibi Belt but much less explored. Dryden is a resource-based town with excellent infrastructure necessary for mining operations. Several large scale mining operations in the area include New Gold’s Rainy River mine, Evolution Mining’s Red Lake Gold mine (150 km to the north), as well as the Canadian Malartic Hammond Reef deposit by Agnico Eagle and First Mining Gold’s Springpole deposit. Dynasty’s second property is Golden Repeat, which is strategically located in the prolific Midas region of Elko County, Nevada.

The company is advancing its 100%-owned high-grade Thundercloud gold project, acquired from Teck Resources in 2021. Notable deposits in the area include the Rainy River mine, Hammond Reef deposit to the south, and the Goliath deposit to the north. Kenorland’s ground adjoins Thundercloud to the north. The project is connected to highways, rail, and power.

The first bonanza drill hole results, released in Jan. 2023, returned 8.4 g/t gold over 73.5 metres, from its four-hole maiden drilling at the Pelham zone. Another hole returned 6.0 g/t over 34.5 metres. Both holes are within 250 metres of surface. These are the best drill intersections reported in the area, putting it on the map as an “Emerging Gold Camp.” In 2023 and 2024, the company continued to intersect many high-grade and/or long-intercepts within 200 metres from surface. For example, 70.5 metres of 3.2 g/t, including 11.0 g/t over 12 metres; lower grade, longer intercept of 1.0 g/t over 163.5 metres, including 8.8 g/t over 7.5 metres; and 94.5 metres at 1.61 g/t, including 42 metres of 3.03 g/t. These results attracted Rob McEwen, who is now the largest shareholder, owning 9.7% of Dynasty Gold.

The 2-km mineralized zone in Pelham zone is associated with pyritic veining within an east-west trending structure. Currently, only 400 metres have been drilled producing a string of impressive hits. A three-dimensional resource model was generated based on the drill data and Teck’s historical data of a total of 17,000 metres of drilling. At a 3.03 g/t cut-off, the model produces 232,000 oz. gold at 8.04 g/t; and at 0.5 g/t cut-off, it is 439,000 oz. at 2.14 g/t, open pit resource of which 85% is in measured and indicated category. Most of the mineralized zone (80%) remains undrilled.

In 2024, a new mineralized zone was discovered by drilling 1 km south of the Pelham zone. The first hole ever drilled in this area returned 6 metres of 2 to 3 g/t gold, within a wide zone of 22.5 metres at 0.8 g/t, 6 metres from surface, opening a new exploration area. This drill hole was designed to target induced polarization (IP) chargeability high, similar geophysical features were found to correlates to high-grade gold in the Pelham zone. The company believes that this new mineralized zone could be another Pelham zone. Roman Shklanka, PhD, a mining veteran and a director at Dynasty Gold, believes that the Pelham zone and the new zone belong to one big mineralized system, pending further drilling to connect both zones.

With a fully funded 2025 exploration program, Dynasty Gold plans to be on the ground in the spring, when weather permits, to start drilling in the newly discovered zone. Additional drilling is also planned at the Pelham zone to delineate the ~2-km mineralization. It is exciting that 95% of the property remains undrilled, leaving a large area to explore and build up the resources.

Ivy Chong is president and CEO of Dynasty Gold Corp.