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THE ZARUMA GOLD PROJECT

   

(see PRODUCTION PLANT PROGRESS & PHOTOS)


Key Highlights:

  • The Zaruma Gold Plant has been successfully commissioned and is in production
  • Mine development is in progress
  • Measured and Indicated Gold resource of 1,110,200 oz at an average grade of 13.93 g/t*
  • Inferred Gold resource of 1,383,400 oz at an average grade of 12.72 g/t*
  • Previous exploration on the field includes over 100,000 channel samples, 15,000 metres of drilling and over 1,705 line kms of aeromagnetic data
  • Historic production estimated to be 5 million oz of Gold at and 12 million oz of Silver
The Zaruma-Portovelo Mining District is a major, high-grade goldfield, having produced over 5,000,000 ozs of gold in the past. Modern mining was initiated in 1905, when the South American Development Company developed the Portovelo mine, and ended in the 1950s. Dynasty has been able to reassemble most of the concessions that made up the original goldfield.

Production records of SADCO indicate average individual values of 7.5 g/t to 28.7 g/t gold over average widths ranging from 0.77m to 2.14m for gold veins in the district. Individual veins production ranged from 9,000 tonnes to 1,573,000 tonnes with gold recoveries ranging from 8,000 ounces to 770,000 ounces. It is now believed that the veins extend over a 15 km north-south trend and a width of 5 km east-west.

Historical work compiled by IAMGOLD Ecuador S.A. ("IAMGOLD") includes over 100,000 channel sample data points, 41,643 m of underground drift mapping, approximately 15,000 m of diamond core drilling and 5,412 soil samples. The Company acquired the data compiled by IAMGOLD as part of its purchase of the concessions.

Estimates of mineral resources of the Zaruma Gold Field, which comprises the Zaruma property and the associated Portovelo district, are contained in two reports: dated October 22, 2004, prepared by Miroslav Kalinaj MSc; and dated October 21, 2005, prepared by Allen J. Maynard BappSc, MAIG, MAusIMM, both of whom are independent "Qualified Persons", as determined by NI 43-101. These estimates are summarized in the following table:

TOTAL MINERAL RESOURCES CONTAINED IN ZARUMA PROJECT
(INCLUDING THE PORTOVELO AREA)

Category Tonnes Au g/t Au Ounces
Measured 1,568,000 13.93 702,100
Indicated 915,000 13.87 408,100
Inferred 3,382,000 12.72 1,383,400


Click here to view Technical Reports


Zaruma Gold Plant
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