Name: Dynasty Goldfield.

Location: The Dynasty Goldfield is located in Loja province, in south-western Ecuador.

Mine Owner/s: Core Gold.

Brief Description: The Dynasty Goldfield is the first permitted openpit gold mine in Ecuador. It covers about 970 km2 and comprises five mining concessions (Pilo 9, Zar, Zar 1, Zar 3A and Cecilia 1) at altitudes from 1 100 m to 1 800 m above sea level and covers 13 909 ha.

Brief History: Core Gold management put the Dynasty Goldfield project into production within four months of assuming control of the mine in the fourth quarter of 2016.  Mining activities at Dynasty Goldfield began in January 2017.

Current mining is focused on a small portion of the Cerro Verde area within the Dynasty Goldfield project, with this small-scale openpit production from the Cerro Verde area averaging 15 000 t a month and grades of 2.7 to 3 g/t gold.

Primary Metals: Gold.

Secondary Metals: Silver.

Geology/Mineralisation: The Dynasty Goldfield project is part of the larger Dynasty copper/gold belt extending north from Peru. The copper/gold belt is situated within the compressional Inter-Andean Graben that is bounded by regional scale faults. The graben comprises thick Oligocene to Miocene volcano-sedimentary sequences that cover the Chaucha, Amotape and Guamote terrains. This structural zone hosts several significant epithermal, porphyry, mesothermal, S-type granitoid, volcanic-hosted massive sulphide and ultramafic/ophiolite precious metal and base metal mineral deposits.

The western side of the Dynasty concessions include volcanic rocks (breccias and andesitic lavas) belonging to the Cretaceous to Palaeocene Pisayambo Volcanics and Celica formation. The Celica formation volcanics are highly fractured and comprise monolithic volcanic breccia, green andesite and some subvolcanic andesite. This unit is intruded sporadically by diorite dykes and slightly argillic gold-bearing quartz veins and veinlets with occasional calcite-barite veins to the south, south-east and west.

As many as 110 mineralised veins of varying thicknesses and without preferred orientation have been identified to date in the Dynasty Goldfield project.

The mineralised veins in the volcanics mainly occur along a faulted zone near and subparallel to the contact with the Cretaceous Tangula Batholith outcropping to the east and south of the concessions.

Reserves: Not stated.

Resources: Total measured and indicated resources as at December 31, 2018, were estimated at 6.87-million tonnes grading 4.6 g/t gold and 38.5 g/t silver. Inferred mineral resources were estimated at 7.83-million tonnes grading 4.4 g/t gold and 39.4 g/t silver.

Mining Method: Openpit.

Major Infrastructure and Equipment: All Core’s material from the Dynasty Goldfield is trucked to the company’s wholly owned 2 000 t/d Portovelo processing plant – a conventional crush, mill, leach, carbon-in-pulp, elution and electrowinning circuit – for processing and sale.

Prospects: Core has obtained small-scale mining licences for three concessions on the Dynasty project. Such licences permit the company to mine up to 300 t/d from each concession that has obtained the small-scale mining licence at a royalty rate of 3%, payable to the Ecuador government, with no windfall tax on the extraction and sale of precious metals.

Although these concessions are the focus of the company’s mine development plans, there is no assurance that the company will obtain additional small-scale mining licences for other concessions to the extent that they may become necessary, based on the company’s development plans in the future.

Contact Details:
Core Gold
Tel +1 604 345 4822
Email info@coregoldinc.com
Website https://www.coregoldinc.com