Dryden Gold’s (TSXV:DRY) exploration efforts in the Dryden Gold District with a strategy strengthened by notable stakeholders and modern exploration techniques, and aiming to unlock the potential of a historically underexplored region. With a land package covering over 50 kilometers of strike length along the Manitou-Dinorwic deformation zone, Dryden Gold is working to identify and discover high-grade gold mineralization. MiningFeeds spoke with the team at Dryden to get a more detailed picture of the company’s past, present, and future plans at the Dryden Gold District and beyond.
Rob McEwen, with his extensive experience in orogenic gold systems, particularly in Red Lake, brings valuable insights to Dryden Gold’s exploration approach. McEwen’s familiarity with the Kenwest property and his positive impression of the total property package assembled by Dryden Gold underline his support for the company’s efforts. “Rob owned the Kenwest property in the Goldcorp portfolio for many years so he is very familiar with the project and was impressed with the total property package we had put together. Because they were always busy at Red Lake and elsewhere, Kenwest never saw any exploration by Goldcorp, something Rob always regretted. Because Maura spent so much time at Red Lake, Rob was also impressed with her local knowledge and approach to the exploration program. He continues to be supportive and gives feedback on his updates,” Dryden Gold noted.
The Manitou-Dinorwic deformation zone, which the company’s land package covers, is geologically significant for high-grade gold mineralization. “The Manitou Dinorwic deformation zone has been compared to the Porcupine Destor Dz in Timmins, and the structural geology is very similar to Red Lake with the same repeating mineralized cross-cutting structures and regional folding creating traps for high-grade gold,” the company explained. The zone hosts high-grade gold occurrences across its 50-kilometer strike, evidenced by drilling, historic mining, ground samples, and trenching.
Source: Dryden Gold Corp.
Dryden Gold’s Phase 4 drilling results from April 2024 were particularly promising. The Spring 2024 drill program had three specific goals: expanding the footprint of the known gold system, confirming the orientation and structural controls of the high-grade shoot on BM1, and testing the theory that sheared volcanics in the hanging wall and footwall carried gold mineralization. The 4,000 meters of drilling accomplished these goals, increasing the mineralized strike length of BM1 from 150 meters to over 1 kilometer and defining new high-grade shoots. “The Spring 2024 drill program (Phase 1-4) had three specific goals: to expand the footprint of the known gold system by identifying additional high-grade shoots, to confirm the orientation and structural controls of the known high-grade shoot on BM1 and test this to define additional high-grade shoots along strike on BM1 and on the parallel BM1 and Elora vein structures, and to test our theory that the sheared volcanics making up the hanging wall and footwall (which were not assayed by previous operators) did indeed carry gold mineralization,” Dryden Gold stated. Significant intersections included 26.11 gpt gold over 3.16 meters on BM1, and 53.51 gpt gold over 1.03 meters on the Elora vein structure.
The company is also relogging and resampling historic drill cores to expand the near-surface open pit mining potential at Gold Rock. “Relogging the historic core could significantly expand the near surface open pit mining potential at Gold Rock. Spot sampling by previous operators was contained mainly to obvious quartz vein structures. Also, logging by previous operators did not include defining the felsic dykes that our logging shows could be controlling high-grade gold mineralization. Re-logging will allow us to confirm these controls and begin to map the dykes to predict new high-grade shoots,” Dryden Gold noted.
Source: Dryden Gold Corp.
Dryden Gold is employing modern exploration techniques, including 3-D geophysics, LIDAR, complete assaying, and extensive logging, to unlock the potential of the underexplored Dryden Gold District. The consolidation of fragmented claims and the removal of heavy forest cover have facilitated exploration. “The reason for the limited exploration is two-fold: the claims have always been severely fragmented. Dryden Gold is the first company to have consolidated this strategic land package along this important MD dz. With that we are applying modern exploration techniques including 3-D geophysics, LIDAR, complete assaying and extensive logging,” the company explained.
Strategic shareholders like Alamos Gold and Eric Sprott contribute significantly to Dryden Gold’s overall strategy. Their experience in mining and long-term investment perspectives align with the company’s vision. “Their experience and history in mining is top-tier and they are long-term holders who see the tremendous potential and investment opportunity with Dryden Gold Corp,” Dryden Gold stated.
The company’s recent town hall meeting in March provided valuable updates on exploration and addressed investor questions, reinforcing confidence in Dryden Gold’s progress and future plans. Key takeaways included the relogging of 20,000 meters of historic core, a summer sampling program, and a fall drill program. “It was a successful town hall where investors understood the value of our approach moving forward with the near-term catalysts being a relogging and resampling summer program and a fall drill program,” Dryden Gold shared.
The presence of industry giants like Kinross, Agnico Eagle, New Gold, and Barrick Gold in the vicinity is seen as an advantage by Dryden Gold, providing potential synergies and collaborations. “Our property is a district-sized play in a robust near-surface high-grade gold setting. Exactly what majors and mid-tier producers require, and they are all watching our progress,” the company noted.
Clive Maund’s assessment of Dryden Gold as an “Immediate Strong Buy” reflects the company’s strong positioning and potential. Factors supporting this bullish outlook include experienced management, a strategic land position, high-grade gold intercepts, excellent infrastructure, and strong shareholders. “Experience management that has extensive regional experience as well as navigating M&A. Insiders own 12%. Strategic land position: dominant strategic land position Dryden Gold District, multiple high-grade gold intercepts near surface, geological setting similarities to Timmins Camps and Red Lake, excellent infrastructure, favourable mining jurisdiction, strong shareholders: Rob McEwen, Eric Sprott, Delwood Capital, EuroPac Gold Fund, Alamos Gold (largest shareholder), history of buyouts in the region (Great Bear, Rainy River and Hammond Reef),” Dryden Gold highlighted.
Dryden Gold’s strategic approach, combined with modern exploration techniques and strong industry partnerships, positions the company to capitalize on the untapped potential of the Dryden Gold District, which investors will be watching closely in the coming quarters.
The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.
I specialize in the mining industry, focusing on top global mining stocks. My reporting covers the latest industry news, company/project developments, and profiles of key players. With a degree in finance and economics from the University of Toronto, I’ve contributed to a wide range of industry publications. Beyond my professional pursuits, I have a keen interest in global business and a love for travel.
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