Vancouver – Dynasty Gold (DYG-V) has reported the long-awaited independent resource estimate for the Qi-2 gold deposit on the Hatu property in northwest China.
Dynasty is earning up to 80% in the underlying Hatu project Sino joint-venture with Xinjiang Non-Ferrous Metals.
The estimate, prepared by consulting firm SRK, pegs Qi-2 at 16.9 million tonnes grading 1.68 gram gold per tonne containing 912,600 ounces at a cut-off grade of 1 gram gold.
At a cut-off of 0.5 gram, the resource is 39,465,000 tonnes grading 1.13 grams gold for 1,432,000 oz. contained, which is in line with Dynasty’s internal “target potential” estimated earlier this year at the same cut-off.
The resource is based on 104 core boreholes totaling 18,000 metres and 105 trenches totaling 6,570 metres.
The company aims to expand the inferred resource and explore other targets on the property in a program budgeted at US$840,000, for this year.
Geophysics is under way with drilling to begin shortly.Plans also call for more trenching and drilling of a large gold-in-soil anomaly one km south of the Qi-2 deposit which is one of over 300 gold occurrences on the property.
The Hatu property comprises 1,000 sq. km of exploration licences within a 2,200 sq. km land package in the Tian Shan metallogenic belt which hosts the Muruntau and Kumtor gold deposits.
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