TORONTO, ONTARIO–(Marketwire – Dec. 10, 2012) – Gold Dynamics Corp. (GLDN) (OTCBB:GLDN)(OTCQB:GLDN) (www.golddynamics.com) –
Mr. Gary Kirk, CEO/President of Gold Dynamics Corp reports that recent soil samples from the Hoyle North property submitted for Broad Spectrum testing by Aqua Regia were re-submitted for Fire Assay. Aqua Regia is an excellent broad strokes test for early stages definition of what a property has to offer but does not identify Platinum and Palladium in the test results. Four samples were re-submitted for testing by Fire Assay and each sample confirms the presence of Platinum(Pl) and Palladium(Pd) along with Gold(Au) which were the 3 elements tested for (see attached chart).
Symbol | Au | Pt | Pd |
Unit Symbol | g/tonne | g/tonne | g/tonne |
Detection Limit | 0.001 | 0.0005 | 0.0005 |
Analysis Method | FA-MS | FA-MS | FA-MS |
Sample 1 | 0.087 | 0.0006 | 0.0017 |
Sample 2 | 0.016 | 0.0005 | 0.0006 |
Sample 3 | < 0.001 | < 0.0005 | 0.0005 |
Sample 4 | 0.35 | 0.0034 | 0.001 |
Mr. Gary Kirk said, “I am extremely pleased and excited that we have optioned into the Hoyle North property, early stage results continue to show that we are working on a highly mineralized property that holds every potential for exploration success. To date every sample we have delivered for testing has recorded significant showings of base metals, rare earth elements or precious metals. The Timmins/South Porcupine area which we are in is an extremely active mining community with all of the infrastructure that comes with these efforts in place and available to us going forward. The Hoyle North property is situated with Goldcorp’s Hoyle Pond mine on one side and Xstrata Copper’s Kidd Creek Mine on the other with many smaller companies such as Lakeshore Gold, Brigus Gold and many others exploring, developing and in production just short distances away. A limited sampling was tested by Activation Laboratories at their facilities in Ancaster, Ontario on my instruction to confirm the presence of gold but to expand the known presence of precious metals by testing for Platinum and Palladium as well. I am extremely pleased to be able to report that by doing even a limited Fire Assay test run that we have managed to expand our numbers of minerals discovered on our property to 56. Our primary focus remains exploring for precious metals and we have now been able to confirm the presence of gold, silver, platinum and palladium which leaves this project wide open to achieving success for our efforts.”
The next steps for us will include geologic interpretation from a contracted geologist of our results to date, a magnetic survey which will give us a better understanding on the depth of mineralization available to us and provide more targets, expanding our land holdings when possible, more sampling as needed and finally drilling to depth to bring us nearer being able to table a resource estimate.”
The Hoyle North project was acquired by option in March 2012, it resides approximately 18kms from Timmins, Ontario and 6 kilometres from the Destor-Porcupine fault which has been a prodigious gold mining area since the early 1900s. Hoyle North is approximately 12 square kilometres in size and is situated between Goldcorps Hoyle Pond Mine (Au, Ag, contiguous) and Xstratas Kidd Creek Mine (Cu, Zn).
Hoyle North is located near the west end of the Neo-Archean Abitibi greenstone belt which runs through Quebec into Ontario, it is one of the most active mining and exploration zones in Canada. Active mines and deposits include Xstrata with the Kidd Creek Mine, Goldcorp with Hoyle Pond Mine as major players, with smaller producing companies such as Brigus Gold with the Black Fox Complex and Lakeshore Gold with Timmins West. Large deposits of gold (Au) include Owl Creek and Bell Creek. All of the aforementioned companies and deposits reside within a 10 km radius of the Hoyle North property. Given the major mining and exploration efforts in the area, infrastructure such as power, roads, labs, equipment and labour are readily available.
Forward-Looking Statements
This current report contains “forward-looking statements”, as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, or the generation of positive cash flow as a result, updating of the corporate website or the availability of an independent geological report outlining the leases, their production, and their potential.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of gold prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Gold Dynamics Corp.
Investor Relations:
289-388-6122
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www.golddynamics.com