Gold Dynamics, the rapidly emerging precious minerals developer currently focused on their 32-claim unit Hoyle North property, representing some 4.6 square miles of land in the legendary Timmins gold mining area (Ontario), reported today that they are moving ahead with the next phase of property development, including retention of a pro geologist for the advisory team.
GLDN will be pulling out all the stops in the coming year, capitalizing on all the exploration work that has been done in the last two years and they are already hard at work pouring over the VTEM Survey and soil sample results in order to better map the mineralized structures on this property. There have been some great target definitions and trend analysis already and confidence remains high at GLDN that this property, which the company stands to acquire 100% of (over 3 years and some $205k in expenditures), holds significant upside potential for shareholders.
Goldcorp's contiguous Porcupine camp as a whole has produced some 66M oz Au to date (100 years in continuous operation as of 2010) and is itself within 1.25 miles of multi-million ounce deposits, being in the same area as Owl Creek and Bell Creek. The company already has a series of excellent targets which have shown extensive mineralization in early analytical efforts and a clear southeast-northeast running mineralized trend at around 656 feet down provides an ample target array for the coming exploration.
The plan for immediate exploration and analysis of extant data covering the identified zones, in the run up to a more comprehensive drilling program (after which GLDN will seek to offer markets a more complete look at the resource and property potential), will likely lead to additional news reports in the next few weeks and months. Given the fact that some 85M oz of gold have come out of this area to date, it is little wonder that GLDN is excited about fleshing out their deposit metrics and investors will be eager to get an update as the exploration heats up here ahead of drilling.
Induced polarization done back in 2007 at Hoyle turned up two very strong anomalies in the eastern part of the property and subsequent soil sampling last year (21 samples from anomaly one alone), in which President and CEO of GLDN, Gary Kirk, personally participated, offers a good benchmark basis for the coming effort. Better sampling of the second anomaly, as well as a more comprehensive approach to mapping the overall trend, will certainly help flesh-out the company's database on Hoyle.
For more info on Gold Dynamics, visit GoldDynamics.com
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