Gold loses some luster after Trump’s decisive win
Gold’s slide is a marked turnaround for a commodity that had surged by more than 30% in the year leading up to the US vote.
Dynasty Gold (TSXV: DYG) has received the 43-101 compliant inferred resource estimate that includes 182,000 oz. of gold at its Thundercloud project 47 km southeast of Dryden, Ontario. The gold is contained in 4.1 million inferred tonnes grading 1.37 g/t gold using a 0.45 g/t cut-off grade.
The estimate was based on 12,093 metres of drilling done in the Pelham zone between 2007 and 2011. Approximately 30% of the historical data could not be located. The zone contains veins in a fractionated gabbro. Mineralization has been defined along a strike length of 430 metres and to 150 metres down-dip.
Dynasty recently completed the acquisition of 100% of the Thundercloud project from Teck Resources (TSX: TECK.A; TSX: TECK.B; NYSE: TECK). Only limited exploration work has been done at the property, including that which Teck did in 2007 and 2008. That examination confirmed that mineralization extends south of the Pelham zone to the West Contact zone.
Drilling done by Teck and in 2011 by Laurentian Goldfields include 113 metres at 1.72 g/t gold; 60.3 metres at 1.46 g/t gold; 55.2 metres at 2.19 g/t gold, including 1 metre at 37.5 g/t, 9.3 metres at 7.91 g/t, and 21.7 metres at 4.63 g/t gold; 29.7 metres at 0.77 g/t gold, including 9 metres at 2.2 g/t gold; 68.8 metres at 1.55 g/t gold; and 81 metres at 1.31 g/t gold. The highest historical hole returned 0.6 metres grading 192.7 g/t gold.
(This article first appeared in the Canadian Mining Journal)
