Folks in the Dryden area can now invest in a hometown gold exploration company holding a property that has potentially huge, high-grade upside.
Dryden Gold was recently listed on the TSX-V at the end of December but ran into some issues that resulted in an immediate trading halt. The company said it has complied with all the regulatory requirements and they’ll be open for business this week.
Common shares of Dryden Gold will available at the opening of the market on Wed. Jan. 10 under the symbol “DRY.”
In re-exploring an old mining camp in northwestern Ontario, Dryden Gold has assembled an extensive 48,000-hectare land package that contains high-grade gold, 30 kilometres east of Dryden, near the village of Dinorwic. Mining was done decades ago by a number of companies but the area has never been explored in a more systematic way.
In a Jan. 2 news release, Dryden Gold CEO Trey Wasser called the listing a “new chapter” for the previously privately held outfit. Before the IPO, the company attracted the likes of investors including Eric Sprott, EarthLabs, EuroPac Gold Fund and Rob McEwen. Dryden Gold’s largest shareholder is Alamos Gold, owners of the Island Gold Mine outside Dubreuilville.
“We are excited to now list on the TSXV and gain exposure to the public markets. With our large strategic land package and a fully funded exploration program,” said Wasser. “Dryden Gold will provide all its shareholders with a new Canadian high-grade gold exploration story in 2024."
From $5 million raised last fall, the company has been running sporadic drilling programs through November, December and January in the vicinity of the historic Gold Rock camp. This spot is suspected of containing substantial high-grade gold. The company has yet to release any assay results.
Looking ahead, Dryden Gold management has made it clear, they don’t intend to get too deep into actually mining, but rather just outline the gold resource for a larger gold player to acquire the property.
They've maintained they’re available to be acquired, similar to Great Bear Resources’ Dixie Project up the road in Red Lake. Dixie was a pure exploration play that was scooped up by Kinross in 2021.
Dryden Gold will have more to say on its current and future plans on a town hall webinar, Jan. 10.
