27 Mar

Strong Gold Results and New Targets At Dunnedin’s Trapper Project

March 27, 2017 – Vancouver, BC, Canada. – Dunnedin Ventures Inc. (the “Company” or “Dunnedin”) (TSX-V: DVI) today announced results from exploration undertaken in October of 2016 designed to find additional gold zones at its 100% owned Trapper property.  Trapper is a copper-gold porphyry project in northern British Columbia with results that include high grade visible gold flanking copper-mineralized porphyry in drill core, and gold drilled across 2.2 kilometres.  Highlights of the current survey include:

 

  • 62 heavy mineral concentrate samples collected across 40 km2 of the project returned an average of 2.31 g/t (2,310 ppb) gold, with a range of 0 to 32.1 g/t (32,100 ppb) gold
  • High gold values occur upslope from previously drilled gold zones, defining new gold targets or significant step-outs to known zones

 

“We’ve now identified two main areas of gold mineralization at Trapper,” said Chris Taylor, Dunnedin’s President and CEO. “The first contains high gold values across more than three kilometres, with most samples originating upslope from past drilling and containing gold that must originate from new, untested targets.  This area generated strong gold values where drilled, and these new results suggest significant expansion potential.  A second area has also now been identified with consistently high gold values across two kilometres.  A drill hole completed within 500 metres of this target hit sulphide-rich porphyry style alteration, and the area was identified at that time as a priority for follow-up exploration.”

 

Table 1: Gold results from neutron activation testing of heavy mineral concentrates

Sample Gold (ppb) Sample Gold (ppb) Sample Gold (ppb) Sample Gold (ppb)
KB001 715 KB016 < 5 KB031 1420 KB048 6410
KB002 1110 KB017 < 5 KB032 6080 KB049 11700
KB003 1000 KB018 104 KB033 6100 KB050 1500
KB004 6670 KB019 137 KB034 174 KB051 3080
KB005 < 5 KB020 792 KB035 676 KB052 689
KB006 9580 KB021 181 KB036 446 KB053 2140
KB007 179 KB022 < 5 KB037 6670 KB054 32100
KB008 12000 KB023 74 KB038 3940 KB055 705
KB009 538 KB024 583 KB039 < 5 KB056 302
KB010 144 KB025 747 KB040 721 KB057 7970
KB011 1850 KB026 238 KB041 92 KB058 170
KB012 < 5 KB027 109 KB042 < 5 KB059 378
KB013 109 KB028 111 KB045 < 5 KB060 < 5
KB014 225 KB029 279 KB046 1780 KB061 6690
KB015 237 KB030 1980 KB047 46 KB062 107

Figure 1: Terrain map showing gold results, past drilling and primary target areas

DVI_NR_MAR27_gold-results

 

Table 2: Highlighted gold results from drill collar locations provided in Figure 1.


Drill Hole
From

(m)

To

(m)

Width* (m) Au (g/t)
TG-11-001 37.50 38.52 1.02 2.04
TG-11-004 105.41 117.00 11.59 1.18
TG-11-005 36.15 38.08 1.93 4.23
TG-11-006 27.74 37.86 10.12 1.09
TG-11-011 106.89 141.00 34.11 1.71
including 106.89 107.30 0.41 92.80
including 114.65 118.04 3.39 3.90
TG-11-013 250.03 255.03 5.00 1.39
TG-11-014 196.35 206.35 10.00 1.08
TG-11-018 88.00 93.00 5.00 1.78
TG-11-020 5.00 7.50 2.50 4.13
TG-11-038 122.50 137.50 15.00 1.68
including 132.50 136.73 4.23 5.08
and including 136.11 136.73 0.62 21.80
TG-11-039 67.50 97.50 30.00 1.01
including 70.00 72.50 2.50 2.19
including 77.50 80.00 2.50 2.98
including 82.66 85.00 2.34 2.64
TG-11-040 132.50 160.00 27.50 1.19
137.50 140.00 2.50 11.15

*Width represents core length and is not intended to reflect true width.

 

Two styles of mineralization have been drilled and mapped at Trapper.  The first is gold-rich semi-massive sulphide stockwork that was the focus of drilling in 2011.  This type of intermediate-sulphidation precious and base metal stockwork mineralization has been reported at many major porphyry deposits worldwide, typically overlying or flanking the primary copper porphyry centres.  Intervals at Trapper include 34.11 m of 1.71 g/t gold, including 0.41 m of 92.80 g/t gold, and 27.50 m of 1.19 g/t gold, including 2.50 m of 11.15 g/t gold.

 

The second style of mineralization is copper-mineralized alkalic porphyry.  Samples returning up to 0.57% copper in bedrock and 2.5% copper in float have been collected at Trapper including both bornite-chalcopyrite copper sulphide mineralization, and azurite-malachite copper oxide mineralization.  These targets have not yet been directly targeted by drilling at Trapper, although copper-mineralized porphyry diking has been intersected in drill core, along with high-energy porphyry style hydrothermal breccias and porphyry style alteration.

 

The Company will next asses the gold grain content and mineralogy of the heavy mineral concentrates to characterize proximity to gold sources, and to map porphyry alteration and base metal zonation across the project.  This will allow sample areas to be prioritized for follow-up exploration.  Results will be released as work is completed.

 

During the 2016 program, gravel, sand and silt were collected from stream and talus sources across the project, and sieved to -20 mesh to produce a 10 kilogram concentrate from each sample site.  Samples were further processed using various density and magnetic separation techniques at CF Mineral Research Ltd. of Kelowna, British Columbia, to produce heavy mineral concentrates.  Each concentrate was partitioned into a sample sent for neutron activation assaying of gold content at Activation Laboratories Ltd. (“ActLabs”) of Ancaster, Ontario, from which the results in this release are provided, and a sample kept by the Company for further gold grain and mineral analysis.

 

The Company has also granted an aggregate of 325,000 stock options to consultants of the Company, exercisable at $0.37 per share for a period of five years.

 

Mr. R. Bob Singh, P.Geo., Exploration Manager, is the qualified person responsible for the technical content of this news release.

 

For further information please contact Mr. Knox Henderson, Investor Relations, at 604-551-2360.

 

On behalf of the Board of Directors

 

Dunnedin Ventures Inc.

Chris Taylor

Chief Executive Officer

 

Neither 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.

 

Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, “forward-looking statements”.  Forward-looking statements may be identified by words including “anticipates”, “believes”, “intends”, “estimates”, “expects” and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company’s future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.

 

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