Exploration Gains Momentum with High-Grade Gold Findings and Strategic Land Expansion

Source: Streetwise Reports 10/24/2024

Dryden Gold Corp. (DRY:TSXV; DRYGF:OTCQB) has announced the highlights of its recent summer field campaign at the Sherridon Property, located in Dryden, Ontario. Read to find out why these results are being called promising and fit into the future plans for Dryden Gold.

Dryden Gold Corp. (DRY:TSXV; DRYGF:OTCQB) has announced the highlights of its recent summer field campaign at the Sherridon Property, located in Dryden, Ontario. The project, which focuses on compiling and reinterpreting historic data, has provided promising results that could pave the way for future exploration efforts.

The Sherridon Property holds a wealth of historical exploration data, as per the 96 surface samples collected, including five samples exceeding 100 g/t (grams per tonne) gold, with the highest surface sample reaching 617.00 g/t. Historic drilling between 2010 and 2012 also revealed visible gold in seven out of ten holes. This reinforced the prospectivity of the property. Dryden Gold’s summer 2024 field campaign focused on enhancing geological understanding, mapping the property, and re-logging selected drill holes. Assay results are expected soon.

Highlights from the Sherridon Property as noted in the press release:

• A total of 96 historic surface samples were collected on the property with multiple intercepts over 30 g/t and with five samples over 100 g/t from quartz veins within variably sheared and silicified pillowed mafic volcanic rocks
  • Highest grade surface sampling returned 617.00 g/t gold.

• A total of 26 historic drill holes were drilled in 2010 and 2012 focused on an IP anomaly with the first program intersecting visible gold in seven of the ten holes.
  • Dryden Gold is in the process of relocating and re-logging these holes with additional sampling occurring on these selectively sampled historic holes.

• Dryden Gold completed a comprehensive mapping and sampling program over the Sherridon Property in the summer of 2024 with assay results pending.
• Dryden Gold recently announced the strategic expansion of its land holdings in this area with an additional property purchase

A key development in Dryden Gold’s strategy is its strategic expansion, recently acquiring new land near the Sherridon project, adding to the company’s exploration footprint. Trey Wasser, CEO of Dryden Gold, emphasized the importance of these developments, stating in the news release, “Our summer fieldwork at the Sherridon Property has provided us with an exciting opportunity to revisit and expand on historic results in this highly prospective region.”

Dryden Gold continues to work on re-logging and sampling historical drill holes. The company aims to use this data to identify both near-term and long-term exploration targets.

Golden Markets

On October 17, Goldfix reported that Bank of America analysts encouraged traders and central banks to increase their exposure to gold due to rising U.S. debt levels. Analysts predicted that gold prices could reach US$3,000 per ounce by the end of 2025. The report cited the growing risks in Treasury markets and the attractiveness of gold as a hedge against market volatility and debt absorption.

The following day, on October 18, Reuters noted that gold surged past the US$2,700-per-ounce threshold amid escalating conflict in the Middle East. This was a key factor along with uncertainties surrounding the upcoming U.S. elections. As geopolitical tensions rose, investors increasingly turned to gold as a safe-haven asset. This surge has contributed to gold’s impressive 30% growth in 2024, marking its best annual performance since 1979. The article also highlighted how looser monetary policy expectations were further fueling gold’s upward momentum.

On October 18, Ahead of the Herd reported on gold miners nearing a critical tipping point, as undervalued gold stocks began attracting more attention from investors. Adam Hamilton emphasized that gold stocks were poised for significant gains following gold’s record price increases. As the price of gold continued to rise, gold mining companies were expected to see stronger financial performance, further bolstering investor confidence in the sector.

In his October 21 report, Bill Bonner from Bloomberg discussed the broader financial landscape, emphasizing that gold prices had reached new record highs as investors looked to gold as a hedge against inflation and rising debt levels. The report underscored how the global debt crisis was driving more investors to seek out gold, positioning it as a key asset amid ongoing economic uncertainties. [OWNERSHIP_CHART-11012]

The Catalysts Behind Dryden Gold

Dryden Gold has several catalysts driving its exploration strategy at the Sherridon Property. As highlighted in the company’s investor presentation, these historical high-grade gold samples present a significant opportunity for further discoveries. The presence of visible gold in seven of ten historic holes drilled between 2010 and 2012, along with surface assays as high as 617 g/t, adds weight to the company’s future exploration plans.

In addition to its extensive geological review, Dryden Gold’s recent acquisition of neighboring land could bolster its exploration potential. The company believes this expansion, coupled with continued sampling and assay results from the 2024 summer program, will allow for a more targeted exploration approach, leading to a clearer understanding of the property’s geological structure.

The recent mapping efforts have also provided better insight into the structural and geochemical controls on mineralization, a critical factor for both near-term drilling and long-term development.

Ownership and Share Structure

According to Refinitiv, Strategic entities own 31.10% of Dryden.  Alamos Gold Inc. (AGI:TSX; AGI:NYSE) holds an almost 10.73% stake in it. EuroPac Gold Fund owns 5.43%. Eric Sprott owns 2.97%, Rob McEwen owns 2.48 %, Dynamic Funds owns 3.38%, and other important stakeholders, including management and insiders, own 9.02%, with Robert Quartermain holding .74%. Only 60% of the 134.53 million shares are available to retail investors.

Its market cap is CA$26.906 million, and it trades in a 52-week range of CA$0.40 and CA$0.10.

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Important Disclosures:

1. Dryden Gold Corp. are billboard sponsors of Streetwise Reports and pay SWR a monthly sponsorship fee between US$4,000 and US$5,000.
2. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own Dryden Gold Corp. securities.
3. James Guttman wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
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( Companies Mentioned: DRY:TSXV; DRYGF:OTCQB, )

Source: https://www.streetwisereports.com/article/2024/10/24/exploration-gains-momentum-with-high-grade-gold-findings-and-strategic-land-expansion.html