Dryden Gold Intersects Additional High-Grade Gold at Elora, Expands Strike Length & Depth Potential

Rhea-AI Summary

Dryden Gold Corp (DRYGF) has announced significant drill results from its Phase 6 program at the Elora Gold System, completed in November 2024. The program, consisting of four holes totaling 1,172 meters, revealed notable gold intersections including 5.92 g/t gold over 12.34 meters in hole KW-24-026, 3.88 g/t gold over 13.81 meters in hole KW-24-028, and 4.17 g/t gold over 5.75 meters in hole KW-24-029.

The company is fully funded with a $5.8 million exploration budget for 2025, with drilling scheduled to resume in February 2025. The results confirm the continuity and grade of mineralization along strike and at depth, with the potential to expand the strike-length up to 500 meters. The exploration program has also generated new regional targets at Hyndman, Sherridon, Mud Lake, and Mosher Bay.

Positive

• High-grade gold intersections: 5.92 g/t over 12.34m, 3.88 g/t over 13.81m, and 4.17 g/t over 5.75m
• Fully funded with $5.8 million exploration budget for 2025
• Potential strike-length expansion up to 500 meters
• Successful expansion of mineralization depth and strike length

Negative

• None.

Vancouver, British Columbia--(Newsfile Corp. - January 20, 2025) - Dryden Gold Corp. (TSXV: DRY) (OTCQB: DRYGF) ("Dryden Gold" or the "Company") is pleased to announce drill results that continue to expand on the Elora Gold System ("Elora") in the Gold Rock Camp ("Gold Rock"). The Phase 6 drill program was completed during November 2024 and consisted of four holes totaling 1,172 meters. The program was designed to follow up on Phase 5 drilling which returned 8.93 g/t gold over 12.45 meters and 30.72 g/t gold over 5.70 meters. The Company continues to successfully target and intersect the depth and strike expansion on the initial structure at Elora. Dryden Gold is fully funded with a $5.8 million exploration budget for 2025, and drilling is scheduled to resume in February 2025.

Drill Highlights:

• Hole KW-24-026 intercepted the mineralized zone at approximately 190 meters from surface and returned 5.92 g/t gold over 12.34 meters, including 19.43 g/t gold over 1.74 meters and 42.40 g/t gold over 0.50 meters.
• Hole KW-24-028 was drilled 60 meters northeast along strike of hole KW-24-026 and returned 3.88 g/t gold over 13.81 meters, including 12.51 g/t gold over 3.50 meters and 10.60 g/t over 0.51 meters.
• KW-24-029 was drilled 90 meters northeast along strike of hole KW-24-026 intercepting 4.17 g/t gold over 5.75 meters, including 17.30 g/t gold over 1.18 meters.
• Hole KW-24-027 was drilled 20 meters deeper than KW-24-026 and intercepted 0.91 g/t gold over 16.55 meters.

The results from these four holes further confirm the Elora Gold System's impressive width and continuity of mineralization. This drill program, which included the Company's broadest step-out holes, and the Team's additional interpretation of historic data, highlights the potential for continued mineralization and exploration along strike at Elora. Drill permits have been submitted and are currently pending approval paving the way for future exploration to the northeast. The reinterpreted historical data shows high-grade mineralization under the historic Elora/Jubilee Mine, which could expand the strike-length of this structure up to 500 meters. The exploration permit will also allow the Company to drill test under the historic Laurentian Mine one kilometer to the north as well as more effectively test the Elora Gold System at depth.

"The results from the Elora Gold System continue to demonstrate the significant potential of this initial high-grade structure," commented Maura Kolb M.Sc., P.Geo., President of Dryden Gold. "The intercepts from this phase of drilling confirm both the continuity and grade of mineralization along strike and at depth. We have also been working on integrating more historical data into our geological interpretation of this Elora structure. The new contoured long section in Figure 1 shows how open the system is for testing at depth and along strike to the northeast. These step-out holes represent an important advancement in understanding the controls of high-grade gold at Elora and highlight its potential for further exploration. These results reinforce our confidence in the Elora Gold System and the Gold Rock Camp as a cornerstone asset for Dryden Gold. We remain focused on expanding Elora by identifying and defining additional structures to the northeast," furthered Ms. Kolb.

"I am extremely proud of our technical team as they continue to generate deeper high-grade gold intercepts on Elora," stated Trey Wasser, CEO of Dryden Gold. "As we continue to see deeper high-grade results, the market is beginning to believe that the Dryden Gold District is a true Archean Lode system that likely has very deep roots. With a fully funded treasury this should be a transformational year for Dryden Gold. While generating the impressive drill results, the Team has also had a very busy regional exploration program in 2024. The mapping and sampling program has generated an exciting project pipeline with regional targets at Hyndman, Sherridon as well as new Gold Rock targets at Mud Lake and Mosher Bay, all to be advanced in 2025," furthered Mr. Wasser.

Figure 1: Elora Initial Structure Contoured Long section

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9776/237796_86c3f06ec4251bb2_001full.jpg

The highest-grade areas of mineralization in this phase of drilling at Elora were preferentially correlated with felsic dykes that were noted adjacent to these mineralization contacts. The geology team is working on better understanding the composition, orientation, and extent of these dykes as they likely represent the gold mineralization fluid pathways. Mineralization in holes KW-24-026, -028 and -029 were a combination of foliation parallel pyrite and pyrrhotite with quartz veining. Hole KW-24-027 displayed a higher percentage of quartz veining with pyrite and chalcopyrite mineralization. The host rock for all four holes was a combination of basalt, pillow basalt, and conglomerate.

Dryden Gold remains committed to advancing the growth of its flagship Gold Rock Camp project while actively pursuing and evaluating regional exploration targets within its resource pipeline. The company holds an extensive 70,000-hectare land package in the Dryden area, offering district-scale exploration potential. Ongoing early-stage exploration programs are being conducted on the Hyndman and Sherridon projects, as well as within the Gold Rock Camp.

Table 1: Dryden Gold - New Elora Drill Holes. Intervals with a grade x width of over 20 are bolded below.

Target Area	Drillhole		From	To	Length (m)*	Grade (g/t Au)
Elora	KW-24-026		215.46	227.80	12.34	5.92
		including	216.80	218.54	1.74	19.43
		and including	222.64	223.14	0.50	42.4
Elora	KW-24-027		71.70	72.40	0.70	3.04
			228.00	244.55	16.55	0.91
Elora	KW-24-028		53.50	56.59	3.09	1.59
			127.00	128.00	1.00	1.39
			140.00	144.64	4.64	0.86
			170.93	172.67	1.74	1.95
			260.10	273.91	13.81	3.88
		including	260.10	263.60	3.50	12.51
		and including	272.76	273.27	0.51	10.60
Elora	KW-24-029		56.60	57.85	1.25	2.99
			276.00	281.75	5.75	4.17
		including	278.82	280.00	1.18	17.30
*Reported intervals are drilled core lengths; assay values are uncut

 

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.

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. Drill samples from the 2024 program were sent to Activation Laboratories, with sample preparation and analysis in Dryden, where they were processed for gold analysis by 50-gram fire assay with an atomic absorption finish and over limits determined by Fire Assay with a gravimetric finish. Select samples were analyzed using metallic screens. 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 a fully funded exploration company focused on the discovery of high-grade gold mineralization listed on the TSX Venture Exchange ("DRY") and on the OTCQB marketplace ("DRYGF"). 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 and consolidation, exploration success, and mergers and acquisitions. Dryden Gold controls a 100% interest in a dominant 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 50 km (about 31.07 mi) of potential strike length along the Manitou-Dinorwic deformation zone. The property has excellent infrastructure, enjoys collaborative relationships with First Nations communities and benefits from proximity to an experienced mining workforce.

For more information go to our website www.drydengold.com.

CONTACT INFORMATION

Trey Wasser, CEO
Email: twasser@drydengold.com
Phone: 940-368-8337

Maura Kolb, M.Sc., P. Geo., President
Email: mjkolb@drydengold.com
Phone: 807-632-2368

Ashley Robinson, Investor Relations
Email: ir@drydengold.com
X: @DrydenGold

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.

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 acquisition of the Property, receipt of corporate and regulatory approvals, issuance of common shares; future development plans; future acquisitions; exploration programs; 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 (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) 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 including receipt of TSX Venture Exchange approval for the acquisition of the Property; risks related to environmental regulation and liability; the potential for delays in exploration or development activities; 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; 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 does 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.

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FAQ

What were the key gold intersections in Dryden Gold's (DRYGF) Phase 6 drilling at Elora?

The key intersections included 5.92 g/t gold over 12.34 meters in hole KW-24-026, 3.88 g/t gold over 13.81 meters in hole KW-24-028, and 4.17 g/t gold over 5.75 meters in hole KW-24-029.

What is Dryden Gold's (DRYGF) exploration budget for 2025?

Dryden Gold is fully funded with a $5.8 million exploration budget for 2025.

When will DRYGF resume drilling at the Elora Gold System?

Drilling is scheduled to resume in February 2025.

What is the potential strike-length expansion at DRYGF's Elora project?

Based on reinterpreted historical data, the strike-length could expand up to 500 meters under the historic Elora/Jubilee Mine.

What new regional targets has DRYGF identified for 2025 exploration?

The company has identified new regional targets at Hyndman, Sherridon, Mud Lake, and Mosher Bay for exploration in 2025.