Dryden encounters ‘significant’ visible gold at Elora

Canadian junior miner Dryden Gold (TSXV: DRY; USOTC: DRYGF) says it encountered “significant” visible gold during deeper drilling at its Elora property in Ontario.

The newly discovered section in hole KW-25-003, a hanging wall structure of folded sheared basalts located about 80 metres from the main Elora target zone, represents the most significant amount of visible gold intersected so far, Dryden said in a statement Tuesday. Dryden is awaiting more assays to fully evaluate the structure before deciding further testing within the current 15,000-metre drill program.

Company geologists had made a similar discovery on the nearby Big Master gold system last year.

“We continue to make high-grade gold discoveries within the Gold Rock camp,” Dryden CEO Trey Wasser said in the statement. “This new zone shows the potential for hanging wall and footwall mineralized structures to host significant gold mineralization similar to our discoveries last year on the Big Master System.”

Located in northwestern Ontario, Dryden’s land package includes historic gold mines with limited modern exploration. Its three main assets are the brownfield Gold Rock project and the early-exploration-stage Lower Manitou and Tremblay projects.

Centerra stake

Since Dryden’s 2025 exploration program is fully funded following Centerra Gold’s (TSX: CG; NYSE: CGAU) December acquisition of a 9.9% equity stake in the company, shareholders “should expect drill results and other news flow on a very consistent basis into the fall,” Wasser added. “Our goal this year is to show the true district potential of this amazing under-explored property.”

All five deeper holes on the Elora gold system have intersected zones of sulphide mineralization and shearing at target depth, Dryden said.

Hole KW-25-001 returned 4 grams per tonne over 3.07 metres, including 18.10 grams per tonne over 0.45 metres, the Vancouver-based company said. Results from a second drill hole, KW-25-002, are pending at the laboratory.

Dryden’s 2025 drill program began in late March.

Current targets at Elora are testing down plunge at true depths between 250 metres and 400 metres, Dryden said. Dryden is permitted to drill the trend to the northeast up to the past-producing Laurentian mine and beyond, 2 km north to the newly discovered Mud Lake target. 

Having secured the required permits, Dryden will now move northeast and begin to fully test Elora, at depth and along strike, where geologists have identified multiple targets, Wasser said. He called 2025 “a pivotal year for Dryden.”

Dryden Gold’s shares fell 3% to 14.5¢ apiece in morning trading Wednesday, giving the company a market capitalization of about $23 million. Over the past year, the stock has traded between 9.5¢ and 22¢.