Monday, 30th April 2007 (2079 views)

Dynasty Gold is going to begin an exploration campaign at its Red Valley project in the Qinghai province of China, at a cost of almost $1.5 million (£752,000).

Comprising of drilling work, magnetic surveying and geological studies, the campaign is to be funded via investment from fellow mining firm AngloGold Ashanti.

Both the Red Valley Duplex and Xigou drill targets will be targeted during the geological mapping phase of the exploration work and drilling will take place at "priority targets" at both of these regions.

Other features of the exploration programme include ensuring that that the ground magnetic survey covers the entire spectrum of drill targets and also embarking upon truthing, as well as "following-up of regional geochemistry anomalies".

After looking at last year's drilling results, Dynasty Gold has announced that they have "identified a complex thrust system that is believed to control the mineralisation at the Red Valley prospect". This may potentially play host to what the firm describes as a "significant gold system".

 

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