Golden Dory Resources Receives Drilling Permit for Pequop South, Long Canyon trend, Nevada
19.07.2011 | The Newswire
GANDER, NEWFOUNDLAND - July 19, 2011 - Golden Dory Resources Corp. (“Golden Dory“ or the “Company“) is pleased to announce that the Notice of Intent for planned exploration work on its JT target area, Pequop South project has been accepted by the Bureau of Land Management. Construction of access roads, drill pads and exploration trenches is expected to begin on August 1 and will take about two weeks to complete. The company will drill test the JT target once it has secured a reverse circulation drill rig.Pequop South lies southwest of, and on trend with, the Long Canyon gold deposit, host to 1.4 million ounces gold in Measured and Indicated resources, an additional 800,000 ounces gold in Inferred resources and the deposit remains open for expansion (Fronteer Gold Inc. January 2011 news release). Preliminary work carried out by Golden Dory on Pequop South has identified untested geological and structural targets with features similar to Long Canyon. Golden Dory is project operator and may earn a 70% interest in the Pequop South Property from Newmont USA Limited by spending US$2.85 million in exploration over 7 years and by delivering a bankable feasibility study on or before August 2016.
About Golden Dory
Golden Dory Resources Corp. (TSX.V-GDR) is primarily focused on gold exploration at the Huxter Lane-Brady Project in Newfoundland & Labrador, Canada; and in the Long Canyon district (Pequop South), and Reef properties in the state of Nevada, USA.
This news release has been reviewed and approved by Timothy Froude, P. Geo., a “Qualified Person“ under National Instrument 43-101. For further information, please contact Kevin D. Keats, President and CEO of Golden Dory at (709) 256-4201, or Chris Haldane at CHF Investor Relations at (416) 868-1079.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Investors are cautioned that trading in the securities of the Corporation should be considered highly speculative. The TSX Venture Exchange Inc. has neither approved nor disapproved the contents of this press release. Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Golden Dory will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by Golden Dory.
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