Vancouver, British Columbia–(Newsfile Corp. – January 25, 2024) – Dryden Gold Corp. (TSXV: DRY)(“Dryden Gold” or the “Company“) is pleased to announce that, based on results from rock chip samples collected during the 2023 field program at its Hyndman Property “Hyndman”, the Company strategically staked additional ground to expand the land package along the interpreted trend of mineralization. The Company would also like to welcome Kenorland Minerals Ltd (TSXV: KLD) to the Dryden District. Kenorland Minerals is one of Canada’s premier project generators and now holds over 73,000 hectares bordering Dryden Gold’s properties (see press release dated January 18, 2023).
“While our primary focus is our drilling program in the Gold Rock Camp, we believe Dryden Gold holds the strongest land position in the Wabigoon Greenstone Belt and will continue to expand at strategic locations identified by our experienced geological team. We are very excited to see the strong technical team at Kenorland Minerals take such a significant interest in the under-explored and over-looked Dryden District” stated Trey Wasser, CEO of Dryden Gold Corp.
Table 1: Significant Gold Results from Hyndman Property
| Sample ID | UTM Easting | UTM Northing | Au (g/t) | Lithology | Description |
| 240476 | 563705 | 5489944 | 0.632 | Diorite | Fine to medium grained medium grey with quartz veins and cubic, blebby and disseminated sulphides. |
| 240492 | 565909 | 5489030 | 2.080 | Intermediate to mafic volcanic | Medium grained dark gray to white with more biotite content. Irregular Quartz veins going through host rock. About 15% sulphides observed. Iron oxidation on top. |
| 240493 | 565909 | 5489030 | 13.000 | Intermediate to mafic volcanic | |
| 240494 | 565909 | 5489030 | 12.300 | Intermediate to mafic volcanic | |
| 240495 | 565909 | 5489030 | 10.900 | Intermediate to mafic volcanic | |
| 240496 | 565943 | 5488902 | 0.733 | Quartz Vein | Red to pink colored Quartz Vein with some iron staining on top. Pervasive sulphides can be observed along weather surface. |
Note: Full list of results can be found later in this document.
About the Hyndman Property
A total of 38 surface rock samples were collected at Hyndman. Six of the samples collected hosted significant gold mineralization, three samples hosted gold mineralization over 10.00 g/t Au with the best result at 13.00 g/t Au (see Table 1, Figure 1 and Figure 2). Mineralization in the Hyndman area is hosted in intermediate to mafic volcanic rocks adjacent to the Wabigoon Fault, a major regional structure. The newly staked Hyndman claims enhance the overall strategic land package situated on one of the major east-west structures in the Dryden District, similar to structures currently being explored by Dynasty Gold (TSXV: DYG) and now a significant land package optioned by Kenorland Minerals Ltd. (TSXV: KLD).
Figure 1: Regional Geology of Hyndman Project Area with sample locations
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The Hyndman Project area is the most easterly part of the Company’s property. It is located just 2km north of the Trans-Canada highway and has additional road access through a network of logging roads (Figure 2 and Figure 3). The area has been recently logged making it easily accessible for additional mapping and exploration work in 2024. Dryden Gold flew high-resolution airborne magnetic survey in 2022 which indicated layering of mafic to intermediate units and horizons of more magnetic rocks likely due to magnetite or pyrrhotite within the host rock at Hyndman. Historically, gold showings have occurred on the southern side of the major regional fault and the significant results from this program align with previous discoveries and potentially new mineralized areas. Observations from the summer mapping campaign included strong pyrite mineralization and silicification within intermediate to mafic volcanics, pyrite mineralization hosted within diorite and pyrite mineralization in felsic dyke contacts.
Figure 2: Detailed Geological Map of New Discovery at Hyndman Project
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Maura Kolb, the Company’s President and Head of Exploration commented on Hyndman, “the team feels that multiple showings of over 10 g/t Au represent our first important target at Hyndman. We will continue to test the potential of gold mineralization hosted within the mafic volcanic rocks on and along the Wabigoon Fault. The shearing is very strong and pervasive throughout these rocks mapped by the summer field team and the new results demonstrate strong growth potential along the Wabigoon Fault.”
Dryden Gold has significantly expended the size of the land package around the Hyndman Project area (Figure 3). The new land package is nearly four times larger than the original Hyndman Project land package and the additional land adds approximately another seven kilometers of strike on the south side of the Wabigoon regional fault structure.
Figure 3: Regional Geology Map of Hyndman Project area showing newly acquired claims.
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The Company has prepared and filed a technical report in respect of the Dryden Gold Properties titled “NI 43-101 Technical Report Dryden Gold Project” and dated effective September 6, 2023, prepared for the Company by Calvin Church, P.Geo, a copy of which can also be found under the Company’s profile at www.sedarplus.ca.
Qualified Person
The technical disclosure in this news release has been reviewed and approved by Maura J. Kolb, M.Sc., P.Geo., President of Dryden Gold and a Qualified Person as defined by National Instrument 43-101 of the Canadian Securities Administrators.
Table 2: All Gold Results from Hyndman Rock Samples
| Rock Samples Results from Hyndman | ||||
| Sample ID | UTM Easting | UTM Northing | Lithology | Au (g/t) |
| 240476 | 563705 | 5489944 | Diorite | 0.632 |
| 240477 | 563705 | 5489944 | Quartz Vein | 0.072 |
| 240478 | 563900 | 5489969 | Porphyry | * |
| 240479 | 564090 | 5489986 | Diorite | * |
| 240481 | 564090 | 5489986 | Mafic Volcanic | * |
| 240482 | 565503 | 5488050 | Graywacke | * |
| 240483 | 565873 | 5488885 | Quartz vein | * |
| 240484 | 565873 | 5488885 | Granodiorite | 0.006 |
| 240486 | 565873 | 5488885 | Granodiorite | * |
| 240487 | 566082 | 5488919 | Biotite schist | 0.022 |
| 240491 | 566070 | 5489505 | Intermediate volcanic | 0.005 |
| 240492 | 565909 | 5489030 | Intermediate to mafic volcanic | 2.080 |
| 240493 | 565909 | 5489030 | Intermediate to mafic volcanic | 13.000 |
| 240494 | 565909 | 5489030 | Intermediate to mafic volcanic | 12.300 |
| 240495 | 565909 | 5489030 | Intermediate to mafic volcanic | 10.900 |
| 240496 | 565943 | 5488902 | Quartz Vein | 0.733 |
| 240497 | 565943 | 5488902 | Quartz Vein | 0.372 |
| 242512 | 566069 | 5489492 | Mafic Volcanic | 0.010 |
| 242513 | 566075 | 5489457 | Felsic Volcanic | * |
| 242514 | 566075 | 5489457 | Felsic Volcanic | * |
| 242515 | 566075 | 5489457 | Felsic Volcanic | * |
| 1200675 | 562405 | 5495563 | Gabbro | * |
| 1200676 | 562440 | 5495416 | Mafic volcanic | * |
| 1200677 | 562424 | 5495311 | Felsic tuff | * |
| 1200678 | 562338 | 5495185 | Mafic volcanic | * |
| 1200682 | 565859 | 5489949 | Mafic dyke | * |
| 1200683 | 564907 | 5490329 | Felsic tuff | 0.005 |
| 1200684 | 564907 | 5490329 | Mafic volcanic | * |
| 1200685 | 564907 | 5490329 | Vein | * |
| 1200686 | 564907 | 5490329 | Felsic tuff | 0.006 |
| 1200687 | 564907 | 5490329 | Felsic volcanic | * |
| 1200688 | 564907 | 5490329 | Mafic volcanic | 0.267 |
| 1200689 | 564905 | 5490354 | Mafic volcanic | * |
| 1200691 | 564905 | 5490354 | Quartz Vein | * |
| 1200692 | 564905 | 5490354 | Quartz Vein | * |
| 1200693 | 564905 | 5490354 | Felsic volcanic | * |
| 1200694 | 564905 | 5490354 | Mafic volcanic | * |
| 1200695 | 564112 | 5492150 | Mafic volcanic | * |
| * below detection limits | ||||
Analytical Laboratory and QA/QC Procedures
All sampling completed by Dryden Gold Corp. within its exploration programs is subject to a Company standard of internal quality control and quality assurance (QA/QC) programs which include the insertion of certified reference materials, blank materials and a level of duplicate analysis. Surface samples from the 2023 program were sent to Activation Laboratories, with sample preparation in Dryden and analysis in Thunder Bay & Dryden, where they were processed for gold analysis by 50-gram fire assay with an atomic absorption finish. Activation Laboratories systems conform to requirements of ISO/IEC Standard 17025 guidelines and meets assay requirements outlined for NI 43-101.
ABOUT DRYDEN GOLD CORP.
Dryden Gold Corp. is an exploration company focused on the discovery of high-grade gold mineralization listed on the TSX Venture Exchange (“DRY”). The Company has a strong management team and Board of Directors comprised of experienced individuals with a track record of building shareholder value through property acquisition & consolidation, exploration success and merger & acquisitions. Dryden Gold controls a 100% interest in a dominate strategic land position in the Dryden District of Northwestern Ontario. Dryden Gold’s property package includes historic gold mines but has seen limited modern exploration. The property hosts high-grade gold mineralization over 50km of potential strike length along the Manitou-Dinorwic deformation zone. The property has excellent infrastructure, enjoys First Nations support and proximity to an experienced mining workforce.
For more information go to our website www.drydengold.com.
CONTACT INFORMATION
Trey Wasser CEO
email:[email protected]
phone: 940-368-8337
Maura Kolb, M.Sc.. P. Geo., President
Email:[email protected]
Phone: 807-632-2368
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Further details of the Amalgamation, the Listing and the business plan will be included in subsequent news releases and disclosure documents to be filed by Dryden Gold Corp.
Cautionary Note Regarding Forward-Looking Statements
The information contained herein contains “forward-looking statements” within the meaning of applicable securities legislation. Forward-looking statements include, but are not limited to, statements with respect to: the terms and conditions of the Amalgamation; the terms and conditions of the Financing; use of proceeds from the Financing; future development plans; and the business and operations of Dryden Gold. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be “forward-looking statements.” Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations; risks related to commodity price fluctuations; and other risks and uncertainties related to the Company’s prospects, properties and business detailed elsewhere in Dryden Gold’s and the Company’s disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and Dryden Gold and the Company do not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from Dryden Gold’s and the Company’s expectations or projections.
UNITED STATES ADVISORY. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), have been offered and sold outside the United States to eligible investors pursuant to Regulation S promulgated under the U.S. Securities Act, and may not be offered, sold, or resold in the United States or to, or for the account of or benefit of, a U.S. Person (as such term is defined in Regulation S under the United States Securities Act) unless the securities are registered under the U.S. Securities Act, or an exemption from the registration requirements of the U.S. Securities Act is available. Hedging transactions involving the securities must not be conducted unless in accordance with the U.S. Securities Act. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in the state in the United States in which such offer, solicitation or sale would be unlawful.
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