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Thursday, 21st September 2006 (3058 views)

Dynasty has announced that it has intersected mineralisation at several holes at its site in Asia.

The Red Valley project is located on the Qilian fold belt in China. This structure is a north-west to south-east trending composite of sediments and volcanics.

A zone of surface alteration stretching for 23 kilometres has been identified by the company. It contains samples of anomalous gold, arsenic, antimony and mercury.

The first drilling programme at the site returned several promising assay results, including 4.10 grams per tonne of gold (g/t Au) over eight metres, 9.96 g/t Au over three metres, 25.85 g/t Au over one metre, 1.33 g/t Au over 12 metres and 1.91 g/t Au over seven metres.

This latest research programme has been funded by AngloGold Ashanti through an equity financing agreement reported in April.

Dynasty's president Brian McEwen commented: "The target area on the Red Valley property is large, so we are pleased and encouraged to have hit mineralisation in these first holes. We look forward to getting more results and focusing in on the core of what we believe could be a sizeable gold system."

 

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