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DMM - Dynasty Significantly Increases Gold and Silver Resource Estimate at Dynasty Goldfield Project
Vancouver, BC (PRWEB) November 20, 2007 -- Dynasty Metals & Mining Inc. (TSX: DMM, the "Company") has received a new, independent estimate of gold and silver resources for the Dynasty Goldfield project in southern Ecuador.
The new resource estimate is based upon the results of the Company's continuing trenching and drilling program in the Cerro Verde, Papayal and Trapichillo areas of the Dynasty Goldfield. The database includes a total of 5,473 assays from 20,499 metres (152 drill holes) of diamond drilling and 6,678 metres of trenching from 967 trenches.
Table 1 - New NI 43-101 Compliant Resource Estimate for Dynasty Goldfield
Resource Au eq 1 Gold Gold Silver Silver
Category Tonnes (ounces) (g/t) (ounces) (g/t) (ounces)
Measured 3,155,000 539,200 4.6 470,000 35 3,560,200
Indicated 3,515,000 628,700 4.8 544,300 38 4,340,000
Inferred 7,652,000 1,313,800 4.7 1,151,700 34 8,337,000
1 - Au eq (gold equivalent) includes gold and silver only (at 51:1 Silver:Gold)
A technical report supporting the new resource estimate is being prepared by Allen J. Maynard, BAppSc(Geol), MAIG, MAusIMM, an independent, "qualified person", as defined by National Instrument 43-101 ("NI 43-101"). Upon electronic filing with the Canadian Securities regulators and on the Company's website, it will be available for viewing at http://www.sedar.com and http://www.dynastymining.com .
Company President and CEO, Robert Washer, commented: "We are pleased with the results of this independent assessment. The Dynasty Goldfield is a new discovery, associated with one of eight porphyry-style exploration targets that we have identified to date in the Dynasty Copper-Gold Belt. Before our initial campaign on the Dynasty Goldfield, none of these targets had been previously drilled, or even systematically explored. This report demonstrates both the potential of the belt and our ability to turn exploration dollars into ounces in the ground.
With gold and silver occurring at surface along strike and with the ongoing trenching program having identified additional large areas of high grade gold and silver targets we expect that our ongoing exploration will increase the estimated resources at the Dynasty Goldfield and demonstrate the potential for underground and bulk tonnage mining".
The Dynasty Goldfield
The Dynasty Goldfield consists of seven concessions with mapped and sampled veins and stockworks that cover an area of approximately 30 km² within the Company's 100% owned Dynasty Copper-Gold Belt, in south-western Ecuador. It includes the Papayal, Cerro Verde, and Trapichillo mineralized hydrothermal vein systems, which lie on a north east trend over a distance of 13 kilometres. In April of 2006, the Company disclosed its first NI 43-101 compliant mineral resource estimate on Dynasty Goldfield. The estimate was supported by a technical report dated April 21, 2006 prepared by Allen J. Maynard, BAppSc(Geol), MAIG, MAusIMM, an independent, "qualified person", as defined by NI 43-101. The technical report is available on SEDAR. A summary of the resource estimate appears in Table 2 below:
Table 2 - Initial NI 43-101 Compliant Resource Estimate for Dynasty Goldfield
Resource Au eq 2 Gold Gold Silver Silver
Category Tonnes (ounces) (g/t) (ounces) (g/t) (ounces)
Measured 1,461,000 221,210 3.9 183,700 41 1,913,000
Indicated 1,867,000 296,463 4.0 240,600 47 2,849,000
Inferred 3,079,000 535,255 4.4 427,000 57 5,521,000
2 - Au eq (gold equivalent) includes gold and silver only (at 50:1 Silver:Gold)
The new estimate adds 286,300 gold ounces to the measured category, 303,700 gold ounces to the indicated category and 724,700 gold ounces to the inferred category as well as 1,647,200 silver ounces to the measured category, 1,491,000 silver ounces to the indicated category and 2,816,000 silver ounces to the inferred category.
Combined Total Resource Estimate
The Company now has, for its Dynasty Goldfield, Zaruma and Jerusalem projects, combined total estimated resources as follows:
Table 3 - Combined Total Resource Estimate for Dynasty Metals and Mining
Estimated Gold Tonnes Grade Measured Tonnes Grade Indicated Tonnes Grade Inferred
Resources (000) (g/t) (ounces) (000) (g/t) (ounces) (000) (g/t) (ounces)
Dynasty Goldfield 3,155 4.6 470,000 3,516 4.8 544,300 7,652 4.7 1,151,700
Zaruma 1,568 13.9 702,100 915 13.9 408,100 3,382 12.7 1,383,400
Jerusalem 602 12.6 239,730 864 12.5 345,370 1,927 11.5 710,000
Total 5,325 8.2 1,411,830 5,295 7.6 1,297,770 12,961 7.8 3,245,100
Estimated Silver Tonnes Grade Measured Tonnes Grade Indicated Tonnes Grade Inferred
Resources (000) (g/t) (ounces) (000) (g/t) (ounces) (000) (g/t) (ounces)
Dynasty Goldfield 3,155 35 3,560,200 3,516 38 4,340,000 7,652 34 8,337,000
Zaruma* n/a n/a n/a n/a n/a n/a n/a n/a n/a
Jerusalem 602 90 1,760,400 864 95 2,627,000 1,927 101 6,276,470
Total 3,757 44 5,320,600 4,380 49 6,967,000 9,579 47 14,613,470
*No silver (Ag) analyses were done for Zaruma.
For further information regarding the Zaruma and Jerusalem resource estimates, readers are referred to the technical report entitled "Independent Preliminary Assessment, Jerusalem Project, Zamora Chinchipe, Ecuador" by WJ Holly, MAusIMM FFin and AJ Maynard, MAIG MAus IMM effective February 27, 2006 (revised January 21, 2007) and the technical report entitled "Independent Preliminary Assessment, Zaruma Project, El Oro Province - Ecuador" by WJ Holly, MAusIMM FFin and AJ Maynard, MAIG MAus IMM dated August 21, 2006, both of which are available on SEDAR.
Quality Control and Assurance
Exploration of the Company's properties is under the supervision of Pippa Jeffcock, the Company's Exploration Manager and a "qualified person", as defined by NI 43-101. Ms. Jeffcock is responsible for the preparation of technical information in this news release. Samples are sealed on the property and shipped to the BSI Inspectorate laboratory in Quito, Ecuador for preparation. Sample pulps are shipped by BSI Inspectorate to its laboratory in Lima, Peru for gold fire assay, silver and multi-element ICP analysis.
Dynasty Metals & Mining Inc.
Robert Washer, President and CEO
For further information please visit the Company's website at http://www.dynastymining.com , or
Dynasty Metals & Mining Inc.
Murray Oliver
Tel: (604) 687-0888
Brisco Capital Partners Corp.
Gordon Aldcorn
Tel: (403) 262-9888
This news release includes "forward-looking information", as such term is defined in applicable securities laws. The forward-looking information includes, without limitation, statements relating to the economic feasibility of, and the nature and timing of mine construction and mining operations at, the Company's Zaruma Gold Project; and other similar statements concerning anticipated future events, conditions or results that are not historical facts. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. The Company cautions that all forward-looking information is inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among others, risks and uncertainties relating to exploration and development; the ability of the Company to obtain additional financing; the Company's limited operating history; the need to comply with environmental and governmental regulations; political and economic instability and general civil unrest in Ecuador; potential defects in title to the Company's properties; fluctuations in currency exchange rates; fluctuating prices of commodities; operating hazards and risks; competition; and other risks and uncertainties, including those described in the Company's Annual Information Form dated February 19, 2007 filed with the Canadian Securities Administrators and available at www.sedar.com. Accordingly, actual future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. All statements are made as of the date of this news release and the Company is under no obligation to update or alter any forward-looking information.
Web Links:
Home Page - http://www.dynastymining.com/
About Ecuador - http://www.dynastymining.com/ecuador/
Properties - http://www.dynastymining.com/properties/
Management - http://www.dynastymining.com/management/
Investor Relations - http://www.dynastymining.com/investors/
Contact Us - http://www.dynastymining.com/contact/
For more information on Dynasty Metals and Mining visit http://www.dynastymining.com or contact:
Dynasty Metals & Mining Inc.
Suite 270 - 666 Burrard Street
Vancouver, B.C. V6C 2X8
Phone: 604-687-0888
Fax: 604-687-0885
###
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