The Dynasty Goldfield is a producing open pit gold mine with a total 43-101 resource of 2,140,000 oz Au. Core Gold management put the Dynasty Goldfield project into production within four months of assuming control of the Company in Q4 2016.
The Dynasty Goldfield is currently producing 750 tpd of 3.2 g/t Au material which is all being processed at the Company’s Portovelo plant, The Dynasty Goldfield is the first permitted open pit gold mine in Ecuador and Core Gold operates it at the highest levels of environmental and social stewardship standards.
The Dynasty Goldfield Project is located in Loja Province in southwestern Ecuador, covers approximately 970 km2, consists of 52 concessions at altitudes ranging from 600 metres above sea level to 1,800 metres above sea level and covers an area of approximately 21,900 hectares within the Dynasty District Copper-Gold Belt. The concessions are 100% owned by the Company.
- 7 wholly-owned mining concessions in the Celica area, located in the province of Loja
- From 2003 to 2007, when the Ecuadorian government introduced a moratorium on exploration, Core Gold and its preceding companies carried out geological mapping, sampling, geophysical surveys and diamond drilling on this property
- Through this exploration work, Core Gold identified high grade gold and silver vein systems in the Cerro Verde, Papayal and Trapichillo areas
- By the end of 2007, Core Gold completed 201 drill holes totaling 26,733 metres at Cerro Verde and Papayal and had taken 2,033 rock channel samples from 1,161 surface trenches at Cerro Verde, Iguana Este, Trapichillo and Papayal
- New Core Gold management led by mining engineer Keith Piggott began mining operations at Dynasty Goldfield in December 2016 just four months after assuming control of the Company.
- In November 2017 the Company announced that Dynasty Goldfield had produced 2,215 ounces of gold from Dynasty Goldfield alone.
The Spanish-Ecuadorian joint venture company, Enadimsa, claimed 1,350 hectares in the La Zanja (Cerro Verde) area for exploration in 1977. During the 1970s and 1980s, the United Nations explored the “Curiplaya” area, 2 km east of the Dynasty Goldfield Project. Copper and gold were detected in small quantities. During 1991 and 1992, BHP Exploration Ltd. covered the general area with concessions but minimal work was done and the tenements eventually lapsed. From 2001 and 2003, a private prospecting company, Ecuasaxon, undertook investigations in the general area and discovered anomalous gold and silver in quartz-sulphide veins in what is now Dynasty’s concession area. Dynasty Metals and Mining (Core Gold's former name) acquired the Dynasty Goldfield Project in 2003 and worked it until 2007, when a moratorium was put on exploration.
TOTAL MINERAL RESOURCES CONTAINED IN THE DYNASTY GOLDFIELD PROJECT
(as per Dynasty Goldfield Technical Report linked below)
|Total Measured + Indicated||6,867||4.6||38.5||1,022||8,504|
Note: A cut-off grade of 2.0 g/t was used to derive the mineral resource estimate.
The Dynasty Goldfield Technical Report, October 22, 2014
The Company has filed a report titled "Technical Report, Dynasty Goldfield Project, Celica, Loja Province, Ecuador", dated October 22, 2014, on the Dynasty Goldfield Project. The Dynasty Goldfield Report was prepared by Allen J. Maynard, BappSc(Geol), MAIG, MAusIMM, who is "independent" and a "qualified person" as defined in NI 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). For a complete description of assumptions, qualifications and procedures associated with the information in the Dynasty Goldfield Report, reference should be made to the full text of the Dynasty Goldfield Report, which is available for review on SEDAR at www.sedar.com (filed November 5, 2014, file size 4,024k) and technical reports.