Dynacor Group Inc【DNG】株式ニュース

Dynacor Gold Mines Inc. Discovers new structures

TSX : DNG
OTC PINK : DNGDF

Dynacor Gold Mines Inc.
October 15, 2015 06:55 ET

Dynacor Discovers New Manto Structure and Receives Additional High Grade Gold Assays at Tumipampa, Peru
MONTREAL, QUEBEC--(Marketwired - Oct. 15, 2015) - Dynacor Gold Mines Inc. (TSX:DNG)(OTC:DNGDF) (Dynacor or the Corporation) is pleased to announce new results from its underground exploration campaign at Tumipampa. The results have confirmed both to the NW and to the NE of the Manto Dorado the presence of significant high grade gold and copper mineralization.
Exploration Highlights
Manto Dorado: Assay results have been received from an ongoing sampling program where previously channel samples from the Manto Dorado roof assayed an average of 36.48 g/t Au over 4.85 meters. Additional channel samples were taken in a new 19-meter long drift (Drift #190SW) and returned an average grade of 8.5 g/t Au over an average width of 1.35 m (including a channel sample grading 23.46 g/t Au);

Manto Nelly (A newly discovered mineralized structure): An 18-meter Drift # 190NW was excavated into the Manto and channel sampled revealing, an average grade of 4.8 g/t Au including a channel sample grading 12.51 g/t Au. 5.08 oz/t Ag and 2.32% Cu over 1.20 m;

Manto Nazareno: Raise #900 was extended for an additional 16 meters and channel sampled. Raise #900 now has a total length of 31 meters and an average gold grade of 8.87 g/t and 0.59 % copper;

Lisa vein: Excavation of a Raise #905 in the Lisa vein is underway. The raise is being excavated upwards from a 5-meter segment of Drift #910SW in the Lisa vein that had an average grade of 16.11 g/t gold over 1.94 meters including 55.60 g/t Au (uncut assay) over 0.90 m (see Press Release May 7. 2015).
The complete results for the Manto Dorado (Drift #190SW) are given in Table 1. the Manto Nelly (Drift #190NW) in Table 2 and for Manto Nazareno (Raise #900) in Table 3. Figures 1 and 2 give a composite view of level 350 showing the location of the mineralized Mantos as well as Drifts #190SW and #190NW and Raise #900 and Raise #905. All the reported channel sample and structure widths are true widths.
Results
Manto Dorado
From the 170-meter mark along cross-cut 330NW a 125-meter long by-pass gallery was excavated in order to reach the rich mineralization found in the Manto Dorado intercepted by drill hole HDD07-2015 grading 10.21 g/t Au over 3.69 m and the Manto Dorado split grading 3.99 g/t Au over 2.70 m (Press Release July 16. 2015).
From the end of the by-pass a 19-meter long drift (Drift #190SW) was excavated into the Manto Dorado and 15 channel samples returned an average grade of 8.50 g/t Au. 1.95 oz/t Ag and 0.80% Cu over an average width of 1.35 m. including a channel sample grading 23.46 g/t Au. 1.25 oz/t Ag and 1.70% Cu over a width of 0.70 m (see Table 1 and Figure 1).
Manto Nelly
At the very end of Drift 190SW. a new mineralized structure was discovered (Manto Nelly) which is orientated N49°W. An 18-meter long drift (Drift #190SW) was excavated along Manto Nelly and channel sampling returned an average grade of 4.80 g/t Au. 1.46 oz/t Ag and 0.80% Cu over an average width of 1.50 m. including a channel sample grading 12.51 g/t Au. 5.08 oz/t Ag and 2.32% Cu over a width of 1.20 m (Table 2 and Figure 1).
Manto Nazareno
In the Manto Nazareno, Raise #900 was further extended by an additional 16 meters since very positive gold and copper assays had been obtained in the first 15-meter segment which found an average grade of 12.14 g/t Au. 0.49 oz/t Ag and 0.80 % Cu with an average width of 1.44 meters. Very high grade channel samples included 118 g/t Au and 1.39 % Cu over 0.4 meters. 101 g/t Au and 0.69 % Cu over 0.45 m. and 6.35 g/t Au and 3.75 % Cu over 0.45 meters (for the full set of data refer to Press Release dated September 3. 2015).
Channel sampling in the additional 16-meter segment returned an average of 6.47 g/t Au. 0.32 oz/t Ag and 0.45% Cu. including a channel sample grading 25.80 g/t Au. 0.32 oz/t Ag and 0.03% Cu over 1.30 m (Table 3 and Figure 2).
All told thirty-two channel samples from 14 sampling sites were analysed along Raise #900 and the averaged results are given in Table 3. Over its entire 31-meters Raise #900 has an average gold grade of 8.87 g/t and 0.59 % copper over an average width of 1.46 meters.
To conclude, Alonso Sanchez, Dynacor's Chief Geologist recently commented "Our exploration results have clearly demonstrated the presence of high grade gold and copper mineralization in the SW and the NE extensions of the Manto Dorado. To the SW. Drill hole HDD07-15 led to the discovery of the Manto Raquel and a split of the Manto Dorado (see press release 16th of July 2015) as well as a an area of significant gold mineralization. These results have now been confirmed by the results obtained in Drift #190SW and the discovery of the Manto Nelly. To the NE. the spectacular results obtained in Raise #215 and Drift #190NE (see Press Release dated October 8. 2015 and December 19. 2013) also confirm very significant gold mineralization in the NE extension of the Manto Dorado. All told these results are very promising and Dynacor will continue to explore these areas by the excavation of additional drifts and raises during the coming months."
Sample Analysis and QA/QC procedures
The samples are sent to the internationally certified laboratory Certimin S.A. for analysis. Samples were assayed by ICP analysis and FAA gravimetric finish assay methods, Standards. blanks and duplicates are used in the sampling process as part of the QA/QC which is implemented and followed by Alonso Sanchez. Chief Geologist for Dynacor Gold Mines. B.Eng.
This Press Release has been read and approved by Alonso Sanchez. P. Eng. and Chief Geologist for Dynacor Gold Mines. He acts as the qualified person ("QP") for the Company and is a geologist affiliated to the American Institute of Professional Geologists (AIPG).
Table 1. Channel Sample Assays from Drift #190SW Manto Dorado, Tumipampa
Channel Sample No Width(m) Au (g/t) Ag (oz/t) Cu ( %)
10126 0.70 1.76 1.15 0.54
10127 0.70 4.96 1.12 0.24
10109 1.80 5.09 2.24 0.18
10129 1.60 14.00 3.73 1.08
10130 1.80 21.16 2.74 0.81
10111 1.50 1.27 0.06 0.01
10112 1.60 4.43 1.30 1.02
10113 1.80 6.76 2.40 1.55
10133 1.10 2.84 1.47 0.35
10116 1.00 13.96 1.19 1.14
10134 1.50 2.21 0.82 1.07
10118 1.50 6.09 0.42 0.35
10136 0.70 23.46 1.25 1.70
10119 0.80 9.03 5.11 2.14
10138 0.70 20.42 7.36 0.65
Weighted Average 19-meter Segment 1.35 8.50 1.95 0.80
Table 2. Channel Sample Assays from Drift #190NW Manto Nelly. Tumipampa
Channel No Width(m) Au (g/t) Ag (oz/t) Cu ( %)
10122 1.40 10.33 1.81 1.69
10100 1.20 6.89 3.76 2.54
10102 1.20 12.51 5.08 2.32
10105 1.80 5.32 0.83 0.18
10182 1.50 7.56 1.54 1.02
10107 1.30 4.98 0.55 0.15
10183 1.50 3.27 1.90 2.05
10198 2.00 3.70 0.59 0.20
10188 1.40 1.20 0.83 0.14
10199 2.10 1.14 0.68 0.15
10190 1.40 1.32 0.76 0.13
10282 1.90 3.67 0.83 0.23
10193 0.80 4.13 1.86 0.23
10194 2.00 4.24 0.83 0.07
10196 1.20 5.50 0.74 0.08
10197 2.00 2.02 1.72 0.26
Weighted Average in the 18-meter segment 1.50 4.80 1.46 0.80
Table 3. Channel Sample Assays from Raise-900 Manto Nazareno. Tumipampa
Distance along Raise-900 (meters) Width (m) Au (g/t) Ag (oz/t) Cu ( %)
September 2015 Data published in September 2015
0 1.40 0.97 0.33 0.61
3 1.20 2.61 1.10 0.57
6 1.75 26.34 0.19 0.19
9 1.30 0.87 0.33 1.28
12 1.60 3.33 0.74 1.67
15 1.40 34.27 0.34 0.48
Weighted Average 15-meter segment 1.44 12.14 0.49 0.80
October 2015 Width (m) Au (g/t) Ag (oz/t) Cu ( %)
17 1.30 5.06 0.35 0.37
19 1.50 2.05 0.58 0.94
21 1.80 5.17 0.22 0.82
23 1.55 2.18 0.19 0.26
25 1.60 2.02 0.30 0.84
27 1.40 9.65 0.49 0.08
29 1.30 25.80 0.32 0.03
31 1.35 2.74 0.14 0.00
Weighted Average 16-meter segment 1.48 6.47 0.32 0.45
Weighted Average 31-meter segment 1.46 7.36 0.40 0.62
ABOUT DYNACOR GOLD MINES INC.
Dynacor is a gold ore-processing and exploration Corporation active in Peru since 1996. The Corporation differentiates itself from pure exploration companies as it generates income from its wholly owned ore-processing plant. Dynacor's basic share count at 36.5 million outstanding is in the lowest quartile of the resource sector. The Corporation's assets include three exploration properties, including the advanced high-grade gold Tumipampa property and an operating 85.000 TPA gold and silver ore processing mill at Metalex-Huanca. The Corporation obtained its permit to construct a brand new 300 tpd mill in Chala Peru. This represents an important milestone for the Corporation's future growth. The Corporation's strength and competitive advantage comes with the experience and knowledge it has developed while working in Peru. Its pride remains in maintaining respect and positive work ethics toward its employees. partners and local communities.
FORWARD LOOKING INFORMATION
Certain statements in the foregoing may constitute forward-looking statements. which involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Dynacor. or industry results, to be materially different from any future result. performance or achievement expressed or implied by such forward-looking statements. These statements reflect management's current expectations regarding future events and operating performance as of the date of this news release.
Dynacor Gold Mines Inc. (TSX:DNG)
Website: http://www.dynacorgold.com
Twitter: http://twitter.com/DynacorGold
Facebook: http://www.facebook.com/pages/Dynacor-Gold-Mines-Inc/222350787793085
Shares outstanding: 36 516 736
To view the images accompanying this press release, please visit the following links:
Figure 1: http://media3.marketwire.com/docs/dynFigure1.jpg
Figure 2: http://media3.marketwire.com/docs/dynFigure2.jpg
CONTACT INFORMATION
Jean Martineau
President and CEO
Dynacor Gold Mines Inc.
T: 514-393-9000 Ext. 228

Dale Nejmeldeen
Investor Relations
Dynacor Gold Mines Inc.
T: 604.492.0099
M: 604.562.1348
nejmeldeen@dynacor.com

I was recently in Peru. I had an opportunity to tour the Dynacor head office in Lima and visit the Acari mill 9 hrs south of the capital. I met the senior management and was able to engage in several informative meetings with the head geologist Alonso Sanchez and President/CEO Jean Martineau. These guys are very excited about the prospects of Tumipampa and the future expansion plans for the mill and company.

Peru is buzzing with economic excitement and you can see signs of the mining industry everywhere. No wonder, considering 50% of the country's industry comes from mining. The government just recently announced it is almost doubling its mining budget, which would increase their portfolio of mining from $24 billion to $42 billion. More than 200 junior mining companies, the majority of which are Canadian, are currently exploring for resources throughout the country.

Tumipampa is Dynacor's flagship property located close to Las Bambas; Xstrata is currently investing $4.2 billion into their property. The money is flowing into this area right now and I am told that Tumipampa is being watched closely by the industry and the Chinese. China is now Peru's number one trading partner.

Currently at the Tumipampa skarn, zone two of the four zones currently targeted for the first drill campaign has been drilled (drill hole two & three are in the lab). The geologist made it very clear that zone four and three (in order of most probable) are the targets he is most excited about (these zones had the largest outcroppings and the most significant anomalous samples). Zone 4 is next to be drilled (drill rig is there now) and then followed up with zone three and zone one. He expects to be drilling with one rig for now; after the rainy season, perhaps as many as four more rigs will be brought to the project.

Sanchez feels there is a minimum of 200mt to a maximum of 1bt of ore at the Tumipampa skarn, which include both significant gold and copper mineralization at grades of 0.30 - 1.4 g/t gold and 0.40 - 1.2% copper. I crunched the numbers for the skarn range predicted, using Hudbay's latest acquisition of Norsemont's Constancia's
.10/lb as a comparable for copper and 7% of gold spot price for gold and I got $368M to $7.1B.

He felt he should have a good understanding of how many tones Tumipampa has by the summer/fall. By this time they will have all the diamond drill results of all four zones complete. We should be looking for drill results that are higher than 0.30% copper, which seems to be the cut off for other copper skarn mines in the area. If the drill results are higher than .3% then it's economic. As for gold anything over 0.05% g/t would be realistic for a large bulk minable deposit.

Now you are most likely wondering....well how good is the geologist? I did some research on Alonso Sanchez and found that he is not only a geologist, but actually a sought after economic geologist. Sanchez has 10 years of experience with NYSE listed Buenaventura where he worked in both the exploration and mining division of the firm. This may explain his strategy of wanting to crosscut into Tumipampa's fifteen veins for immediate production, cash flow and additional intercepts through the development of the adit. Buenaventura is known for this method of production and exploration throughout the country.

I found out that the geologists in the area compare notes and was glad to hear that Sanchez went to Norsemont (recently bought out by Hudbay Minerals for $520 million - 277mt at .43% cu), Las Chances (Southern Copper) and Las Bambas (Xstrata) with his findings and samples and discovered that what he found at Tumipampa was identical to what they had discovered on their properties, except Tumipampa is indicating more gold. Sanchez stopped at Bonaventura to confirm his findings where he worked previously for 10 years and maintains an ongoing relationship with their team.

It was interesting to find out Tumipampa has disseminated mineralization on the property showing same characteristics as Barrick's Laguna Norte deposit that still needs to be explored with possibly one or two drill holes this fall. There are also fifteen gold veins discovered now and I was told these veins alone have 1-1.5 million ounces of gold. Martineau explained that it would not take much to set up a mill like the one they have at Acari and start producing their own gold out of the Tumipampa veins within 18 months. I felt he was seriously thinking of this, but had a better sense that this property could be sold before they could get this done if it reaps the rewards they expect. While sitting down for coffee, he mentioned he would like to retain the 100% ownership of the veins, disseminated, milling business and Casaden by way of spinning out a new company after selling the skarn separately. The original shareholders of DNG would of course be rewarded with new shares of the new co.

As for the trip to Acari...it was a long, very dusty, cliff hanging rugged road through the mountains to the mill. The mill was under tight security. Once inside, I got a full tour of the operations. Prior to my visit, I questioned the availability of ore to the mill. The last thing you want to do is run out of ore. No ore means no gold which means no cash flow. To my satisfaction, they had over 3000 tones of ore sitting waiting to be processed and the trucks just kept arriving with more ore over the two hours I was there. I was told 9-12 trucks arrive on a daily basis. It was confirmed that there is never a shortage of ore due to the hundreds of thousands of producers throughout the country that do not have the ability to process their own ore.

I often wondered about mill maintenance. With all the moving parts in a mill, it's would be easy for mechanical breakdowns...no mill means no gold which means no cash flow again. I was quick to learn there is a full mechanical staff at the site. It also seemed like every 2nd shop in every town along the route from Lima to Acari had a machine repair shop of some sort. While at the mill, I was told that one of the 3 ball crushers was failing and that another larger ball mill was already on order from Lima. It pays to have a mill in a country in which 50% of the industry is mining because everything is right there when you need it. Out of all the South American countries, the Peruvians have the best work ethic. They work hard; their priorities in life are to own their own home and educate their children. This says a lot about the future of Peru.

I also found out that permits have been submitted for a new mill. Apparently DNG owns property that is very close to the fully paved Pan American highway. The plan is to move the existing mill to the highway property within the next 18 months. This new location will allow access by large semi 18 wheel trucks therefore increasing the amount of ore that can be delivered to the property. This new mill will be built to process over 300tpd.

I don't think there are any companies out there currently cash flowing 10M and having a market cap of 55M, with a drilling campaign currently on that could have similar potential to Norsmont (recently taken over by Hudbay Minerals for $520M), Antares Minerals (recently taken over by First Quantum late 2010 for $460M). Additionally, consider Las Bambas mine, owned by Xstrada, being very close to their property in which $4.2B is being invested.

With 70% of this stock being held mostly by institutions such as Sprott, AGF, Trapeze and Sabretooth Master Fund from NY (they have been insider buying recently). There are definitely strong supporters behind this company.

2010 annual report and Q1 are looking like they will be positive news releases for Dynacor.

市場データ

ニュース

投資ツール

市場

発見

Hot Features

Follow Feed

ライブオプションフロー

モニター