Explorer Finds Bonanza-Grade Gold in Canada

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Dryden Gold Corp. (DRY:TSXV; DRYGF:OTCQB) has reported multiple visible gold intercepts and the discovery of a second stacked structure at its Gold Rock Target Area in Northwestern Ontario. These developments follow new drill results that confirmed multiple stacked gold-bearing structures across the Elora Gold System, which now extends to one kilometer in strike length.

The company's June 19 announcement detailed results from early drilling at two key zones: Pearl and Laurentian. At Pearl, located 400 meters north of the Jubilee Zone, drill hole DGR-25-007 intersected three stacked mineralized zones totaling over 24 meters. The main intercept returned 2.26 grams per tonne (g/t) gold over 8.80 meters, including 7.12 g/t over 2.60 meters and 25.80 g/t over 0.60 meters. Nearby, drill hole DGR-25-006 intersected three stacked structures totaling more than 21 meters of gold-bearing mineralization.

At the Laurentian zone, drill hole DGR-25-001 intersected 28.60 g/t gold over 0.50 meters in a hanging wall structure. Follow-up hole DGR-25-002 encountered five stacked mineralized zones totaling more than 23 meters in combined width. Both target areas show continuity with the hanging wall discovery made at Jubilee, which previously returned 301.67 g/t gold over 3.90 meters, including 1,930 g/t over 0.60 meters.

Trey Wasser, CEO of Dryden Gold, stated in the announcement, "We are very pleased with the first pass drilling at Laurentian and Pearl showing significant widths of gold-bearing mineralization. This drill program is defining a much broader gold-bearing corridor, defined by multiple, sub-parallel shear-vein systems along the Elora Gold System."

According to Maura Kolb, President of Dryden Gold, "The recognition of multiple, sub-parallel gold-bearing structures, each capable of hosting high-grade gold mineralization adds numerous priority exploration targets by interpreting the intersections of the recognized D1, D2, D3, or fold-related elements which provides opportunities for dilation within the system and now identifies a key control of high-grade gold mineralization."

In a follow-up announcement on June 24, Dryden Gold reported visible gold in a newly identified structure called HW1 at the Jubilee Zone. Drill hole DGR-25-011 intersected visible gold at 103.35 meters and DGR-25-012 at 154.40 meters. These intercepts lie parallel to the HW2 structure, which previously returned 301.67 g/t over 3.90 meters. Assays for the new HW1 intercepts are pending.

The 2025 drill program is fully funded and focused on understanding the stacked structures and their relationship to three distinct deformation events identified in the region. One of these, a north-south trending mineralizing domain, is considered a key structural feature in hosting high-grade gold. Future drilling will target the intersections of these events, especially between the Jubilee and Spyglass zones, to further define the structural corridor.

Dryden Gold's sampling protocols adhere to NI 43-101 standards. Drill samples are prepared and analyzed by Activation Laboratories in Dryden using 50-gram fire assay with atomic absorption finish, and gravimetric analysis for over-limit samples. QA/QC procedures include the use of blanks, duplicates, and certified reference materials. All technical disclosures have been reviewed by Maura J. Kolb, M.Sc., P.Geo., a Qualified Person under National Instrument 43-101.

Gold's Resurgence Backed by Central Banks and Global Unrest

According to Matthew Piepenburg in a June 19 interview with Thoughtful Money, gold's rise in 2025 has not been coincidental but the result of systemic pressures. He noted that the metal has achieved over 75 all-time highs this year as trust in the U.S. dollar and U.S. Treasuries deteriorated.

"Gold emerges not only as a climbing asset or 'hedge,' but as a centrally rising tier-one global strategic reserve asset," Piepenburg said, emphasizing that gold is now favored even by central banks and institutions that once marginalized it. He added that gold's long-term returns have outpaced the S&P 500 over the past two decades, challenging the notion that it is "too volatile."

 "The company has many high-grade targets that are drilling or to be drilled; we should have a lot of news for the next few months," Chen Lin said.

A Stockhead report published June 20 pointed to ongoing strength in central bank demand, which has surpassed 1,000 tonnes annually for three consecutive years.

The World Gold Council's latest survey found that 95% of central banks expect reserves to rise over the next 12 months. "After eight years of conducting this survey, we have reached an important milestone: nearly half of the central bank respondents intend to increase their own gold holdings in the coming year," said Shaokai Fan, WGC global head of central banks and head of Asia-Pacific (ex-China). Fan attributed the trend to inflation, interest rate concerns, and geopolitical instability, which have heightened gold's appeal as a risk mitigator.

A June 23 article from Ahead of the Herd further highlighted macroeconomic and geopolitical factors driving demand. The report described a dramatic increase in central bank gold purchases and a marked reduction in US Treasury holdings. Citing data from the New York Fed, the article noted that foreign central banks have cut their US asset exposure by US$90 billion since March, a move seen as diversification away from the dollar. "This flow likely reflects official sector diversification away from dollar holdings," Bank of America's Meghan Swiber wrote. The WGC survey revealed that 76% of central bank reserve managers believed gold would comprise a larger share of global reserves in five years, while 73% anticipated reduced exposure to the dollar.

Beyond institutional buying, geopolitical flashpoints - including tensions in the South China Sea, the Middle East, and Eastern Europe - have reinforced gold's traditional role as a safe haven. As Ahead of the Herd reported, gold has outperformed many traditional havens in 2025, with ETFs drawing in over US$11 billion year-to-date. While retail investors have taken a more cautious approach amid high bullion prices, central banks and sovereign wealth funds have sustained momentum.

In the near term, trading levels have shown sensitivity to fluctuations in safe-haven flows and technical resistance points. According to a June 19 analysis from FXStreet, gold saw a brief dip below US$3,348 per ounce due to rising demand for the US dollar but quickly rebounded as buyers returned. The report indicated bullish pressure remained intact if prices could maintain support above US$3,347, although short-term resistance hovered around US$3,400.

Analyst Support Builds as Dryden Gold Advances Exploration

In a May 21 article, Technical Analyst Clive Maund described Dryden Gold Corp. as "an outstanding gold exploration company" and rated it an "Immediate Strong Buy." Maund noted that the stock was nearing a breakout from a 16-month base pattern and praised the company's district-scale potential. He wrote that Dryden was "rapidly developing a gold-rich, extensive district-scale project in Ontario" and pointed to its high-grade discoveries and strategic location among other major mining properties. Maund also emphasized that insider and institutional ownership limited the public float to just 35%, which he viewed as a bullish factor. He concluded that Dryden Gold was "on course to break out of the base pattern" and projected a near-term target of CA$0.40, with higher targets possible.

In his May 27 newsletter, What is Chen Buying? What is Chen Selling?, Chen Lin highlighted Dryden Gold's confirmation of "more high-grade hits 1 KM from the last drill hole" and noted visible gold had been observed with assays pending. He reminded readers that the stock "almost doubled since they hit the first high grade hole of 301g/t over 3.9 meter," ashigh-grade hole of 301g/t over 3.9 meters mentioned in his earlier Letter #2879. Lin added that he planned to visit the company in person the following month, indicating continued confidence in its potential.

According to a June 16 research note from Couloir Capital, analyst Ron Wortel issued a Buy rating on Dryden Gold with a target price of CA$0.65 per share, representing a 271% upside from its then-current price of CA$0.24. Wortel cited exploration success, permitting progress, and institutional backing as key factors. He noted that Dryden had extended the Elora Vein strike over two kilometers and discovered new structures containing visible gold. He also highlighted Dryden's CA$5.8 million exploration budget for 2025 and strong financial position, including CA$5.3 million in cash and CA$4.4 million in working capital. Wortel wrote that the company's option agreement with Alamos Gold gave it 100% ownership of its land package and that Centerra Gold's 9.9% stake "signaled continued institutional confidence."

In a June 18 commentary, Chen Lin of What Is Chen Buying? What Is Chen Selling? wrote, "My visit to Dryden Gold Corp. was interesting; I understood the scale of the project for the first time. The company has many high-grade targets that are drilling or to be drilled; we should have a lot of news for the next few months."

Jeff Clark of TheGoldAdvisor.com stated on June 19, "Dryden Gold Corp. [is] a gold explorer with an ongoing drill program that's cranking out high-grade results and is on the prowl to make the Dryden District the next Red Lake Gold District. Why I like it: the potential to deliver high-grade gold assays to a market that's paying attention."

In a June 24 update, The Gold Advisor reviewed Dryden's latest drill results, including a bonanza-grade intersection of 28.6 g/t gold over 0.50 meters at the Laurentian target. Additional drilling at the Pearl zone returned 2.26 g/t gold over 8.80 meters, including 25.8 g/t over 0.60 meters. The newsletter emphasized that the latest batch of assays extended the Elora gold system by one kilometer. While calling the results "a mixed bag," the author remained positive, stating that "the prospect of drilling at Gold Rock returning more high-grade hits makes the company a continued buy at current levels."

Structural Growth and Strategic Upside

Dryden Gold's June 2025 investor presentation highlighted the Gold Rock Target Area as a key growth opportunity. The company has prioritized expanding its understanding of the Elora and Big Master systems, where drilling has outlined multiple vertically stacked gold-bearing structures across more than 1,500 meters of strike length.

According to the presentation, Gold Rock displays geological parallels to the Red Lake Gold District, including high-grade mineralization within narrow quartz veins and significant structural complexity. Dryden Gold plans to advance drilling in 2025 by targeting areas between previously identified high-grade zones — such as Jubilee and Spyglass — to define the extent of the mineralized corridor.

The presentation also emphasized Dryden Gold's 100% control over a large, underexplored land package with more than 50 kilometers of strike along the Manitou-Dinorwic deformation zone. With historical gold mines, proximity to infrastructure, and a local workforce, the company positioned Gold Rock as a district-scale opportunity. Management also cited collaborative First Nations partnerships and strong local support as additional operational advantages.

Ownership and Share Structure

According to the company, management and insiders own 7.56%, with strategic entities owning 57.97% of Dryden.   

Centerra Gold Inc. (CG:TSX; CADGF:OTCPK)  holds 9.99%, with  Alamos Gold Inc. (AGI:TSX; AGI:NYSE) holding a 14.34% stake in it. Euro Pacific Asset Management LLC owns 4.55%. There are 160 million shares outstanding.  

Its market cap is CA$34 million, and it trades in a 52-week range of CA$0.40 and CA$0.095.