Jan 29 2011
DynaResource, Inc. (Pink Sheets: DYNR) has announced recent drilling results from the current 18,500 meter diamond drilling program at the San Jose de Gracia Project in Sinaloa, Mexico.
The Company reports very significant gold mineralization intercepted at San Pablo area, including Drill Hole # SJG-10-203 yielding 332.86 g/t Au and 143.9 g/t Ag over 5.50 meters from 70.65 to 76.15 meters depth (true width estimated to be 4.0 meters); and, including 0.75 meters of 2,424.89 g/t Au and 1,037.80 g/t Ag; and, Drill Hole # 10-217 which intercepted 89.95 g/t Au over 1.42 M.
K.D. DIEPHOLZ, CHAIRMAN / CEO of DynaResource stated, "The exceptional bonanza grade drill intersection at drill hole SJG # 10-203 further confirms the rich mineralization which typifies the San Jose de Gracia District. The results of 10-217, and the additional results from recent drill holes intercepting the San Pablo quartz breccia vein, La Union, and La Purisima are consistent with previous drilling results from these areas. The Company is pleased to recognize these results and we look forward to receiving and reporting additional drilling results, including those from Tres Amigos, in the near future."
"I would like to express appreciation again to Goldgroup for its ongoing capital contributions to DynaMexico and for its technical contributions to SJG; and I would like to thank Dr. Jose Vargas Lugo, Operations Manager, for his focus and dedication to the activities of DynaMexico. The Company looks forward to continuing success in identifying additional gold resources at SJG through core drilling programs, and we look forward to planning the mining and production activities at SJG."
The San Jose de Gracia District, covering 99,500 hectares, is 100%-owned by DynaResource de MexicoS.A. de C.V. ("DynaMexico"). DynaResource currently owns 75% of DynaMexico and Goldgroup owns 25 %, after completing the first stages of its Earn-In by contributing US $ 6 M. to DynaMexico at September 15, 2009. Goldgroup has contributed an additional US $ 9 M. (of the US. $ 12 M. required) towards the Earn In of an additional 25% of DynaMexico; and Goldgroup would complete the Earn In of a total of 50 % of DynaMexico through the contribution of the current balance remaining of US $ 3 M. by March 15, 2011.
In excess of one million Oz. Gold has been produced from the SJG District in the early 1900's, originating from veins grading from 30.0 g/t Au to 60.0 g/t Au. An updated 43-101 compliant technical report is expected to be commissioned by DynaMexico at the completion of the current 18,500 meter drill program, to update the gold resource reflected in the 43-101 report retained by Goldgroup dated March 2010. This March 10, 2010 43-101 report was authored by Jim Cuttle, B.Sc., P.Geo., Whistler, BC. Canada, and included a resource estimate compiled by Gary Giroux, Giroux Consultants Ltd., Vancouver, BC. Canada ("the Goldgroup 43-101"). The Goldgroup 43-101 (including drill holes through SJG 08-126 at August, 2009) reported an inferred resource at SJG of 618,000 Oz. Gold, with a cutoff of 2 g/t., and an overall average grade of 5.59 g/t Au; (Silver, Copper, and Zinc credits added an approx. 60,000 Oz. Au Equiv. to the Goldgroup 43-101). The updated 43-101 to be commissioned by DynaMexico ("the DynaMexico 43-101") will reflect the additional drilling results of core drill holes since SJG 08-126 (August, 2009) and will include the ongoing drill results at San Pablo, Tres Amigos, La Union and La Purisima areas of SJG.
In, June 2010, the SJG Project was recognized as the most significant Gold Project in the State of Sinaloa for the year 2010. (See Company News Release of Sept. 8, 2010).
DynaUSA and Goldgroup are targeting an annual production of 100,000 Oz. Gold from San Jose de Gracia.