Dynasty Gold Cop (DYG.V) holds two 100% owned gold assets in one of the most desirable mining camps in North America. The Thundercloud property is situated in the Archean Manitou-Stormy Lakes Greenstone belt in Western Ontario which has a geological setting similar to the Abitibi belt but much less explored. The Golden Repeat property is strategically located in the prolific Midas region of Elko County, Nevada. Dynasty also holds a 70% interest in the producing Qi-2 Hatu Gold mine in Xinjiang Province, China.
Today, Dynasty Gold announced bonanza gold drills. Bonanza definition: a situation or event that creates a sudden increase in wealth, good fortune, or profits. With the stock currently up 228% at time of writing, Dynasty definitely has the markets excited.
Assay results from its phase 1 2022 maiden drill campaign at the Thundercloud asset have been released. The results are the best assay results ever reported from Thundercloud, and constitute new discovery of wide zones and high-grade gold-bearing quartz veins requiring further delineation.
Here are the highlights. Pay attention to the g/t, and remember, these are results from the first drill program:
Significant Assay Highlights:
- DP22-02 intercepted 1.31 g/t Au over 121 m from 102 m;
- Including 15.06 g/t Au over 9 m:
- Including 43.47 g/t Au over 3 m.
- DP22-03 intercepted 7.35 g/t Au over 51 m from 88.5 m, contains the longest intercepts with the highest gold grades to date;
- Including 13.01 g/t Au over 28.5m:
- Including 25.66 g/t Au over 12.5 m:
- Including 101 g/t Au over 3 m:
- Including 246 g/t Au over 1.5 m.
- DP22-04 intercepted 0.764 g/t Au over 40.5 meters from 120 m;
- Including 8.61 g/t Au over 3 m:
- Including 25.1 g/t Au over 1.5 m.
“We are thrilled with these outstanding results in our first drill program on the property. They are the highest gold grades, the longest and the widest intercepts ever drilled at the property. These drill results indicate a much bigger resource potential with higher grades at Thundercloud. The data will assist in building a structural model for a NI 43-101 resource update, and future drill target planning for resource expansion,” states Ivy Chong, President and CEO.
The geology looks good for a major find. Dynasty Gold still has many unexplored areas on the property which could contain and continue high-grade gold mineralization. Further drilling is warranted, and the company has a very exciting story heading forward.
“Current assay results obtained by Dynasty Gold from the Thundercloud Property are particularly of interest in that the results clearly indicate that the Property has potential for both large-tonnage with high-grade and vein deposits. Although only four holes were completed, intercepts such as 121 m of 1.31 g/t Au and 101 g/t over 3 m are selected examples of each type with more present in the data set. Additional work obviously is required to establish economics but the nature of the indicators to date are encouraging,” said Roman Shklanka, Director.
The stock is on a tear, up over 228% with over 1.3 million shares traded.
The market structure technical trader in me is jotting this down as a good example of the type of patterns I am known for. If you read my work, you will know I have a certain type of chart and criteria I look for. Dynasty Gold showed that with the basing and the breakout at $0.10. Unfortunately, you would have had to put your order in early and higher the day after the breakout to catch up with the big news.
A new uptrend is in play and pullbacks leading to higher lows and higher highs will attract more buyers. However, this initial momentum could continue given the news and the percentage move.
The stock has also clearly taken out major resistance levels.
One really needs to zoom out and go to a line chart to see how significant this breakout was. The $0.25 zone was a major resistance zone now turned into support. The stock will maintain momentum as long as it remains above $0.25. The next resistance comes in at the $0.50 major psychological zone.
