11 May

Dunnedin Announces Gold Exploration Plans and Spinout Record Date

Dunnedin Announces Gold Exploration Plans and Spinout Record Date

 

May 11, 2017 – Vancouver, BC, Canada. – Dunnedin Ventures Inc. (the “Company” or “Dunnedin”) (TSX-V: DVI) today reported that the date of record for a Plan of Arrangement to spin out rights to gold mineralization at its Kahuna project, Nunavut, will be June 30, 2017.

 

The Company also announces its exploration plans to define drill targets across its Kannuqa gold belt, an approximately 300 square kilometre folded greenstone belt that has sourced widespread gold-in-tills, gold-in-bedrock, and gold in drill core, and is surrounded by Agnico Eagle Mines Ltd.’s (TSE: AEM; “Agnico”) Meliadine project to the north, west and south.

 

 

Figure 1: Exploration blocks at the Kannuqa belt, one of four gold belts at Kahuna.  Adjacent gold projects shown in inset; Agnico’s Meliadine project and NxGold Ltd.’s (TSX-V: NXN) Kuulu project.

The Kannuqa belt is one of four gold-bearing metasediment belts have been explored at Kahuna.  Details of the other gold belts will be made available as results of last summer’s exploration are received. The Kannuqa belt covers approximately 300 km2 (30,000 Ha), and has been divided for exploration purposes into 11 blocks averaging 25 square kilometres each.  All blocks contain gold occurrences as follows.

 

Table 1: Kannuqa Gold Belt sample results combined from historic data and Dunnedin’s 2015 till survey.

Block  

Approx.

Area

(km2)

Number of Till Samples Total Gold Grains Avg. Grains Per Sample Total Pristine Grains Bedrock

Has Been Sampled for Gold

Has Been Drilled for Gold
1 22 10 61 6 6 Yes Yes
2 25 8 70 9 7 Yes Yes
3 33 12 97 8 9 No No
4 33 9 136 15 12 No No
5 21 11 348 32 59 No No
6 20 4 96 24 17 No No
7 15 2 29 15 4 No No
8 25 13 296 23 56 No No
9 30 22 522 24 68 No No
10 25 12 179 15 19 No No
11 20 2 50 25 6 No No
TOTAL 269 105 1884 18 263

 

“We’ve identified more than 50 areas with concentrated gold-in-tills that include pristine, locally derived gold grains.  These were deposited down-ice from nearby bedrock sources that appear to lie within the Kannuqa gold belt,” said Chris Taylor, CEO of Dunnedin. “While gold is widespread in tills throughout the belt, it is concentrated near bedrock fold hinges in a pattern similar to that published at Meliadine.  As the Kannuqa belt begins less than 15 kilometres from the Meliadine mine site, it is a near-term priority for Dunnedin’s exploration efforts and has excellent potential to host new gold discoveries.”

 

Dunnedin confirmed historical gold-in-till results through recovery of proximally-sourced gold grains from Block 1 as disclosed on October 17, 2016.  Dunnedin expects to soon receive gold results from till samples collected across the Kahuna project in 2016.  These will include new results from the Kannuqa gold belt, which will direct upcoming exploration.

 

Field crews are expected to mobilize in early June 2017, when ground conditions allow.  The Company will expand its gold-in-till sampling grid across each of the 11 defined exploration blocks, including higher density sampling around high historical grain counts, and will undertake a geological prospecting and mapping program that will define drill targets at each block.  Drilling will be planned and implemented based on results received from this work.

 

As previously disclosed, a property-wide diamond exploration program will be concurrently undertaken, including drill testing of a number of high priority diamond indicator mineral sources, and collection of diamondiferous kimberlite bulk samples for diamond valuation purposes.  All till sampling conducted across the property will be screened for both indicator mineral and gold content, as Dunnedin has observed gold grains and kimberlite indicator minerals occur together in the majority of samples.

 

As disclosed on May 1 2017, Dunnedin has accelerated its 100 percent earn-in of the Kahuna project and is proceeding with its intention to spin out rights to gold mineralization at the Kahuna project.  The project and rights will be spun out into a wholly-owned subsidiary pursuant to a Plan of Arrangement under the Business Corporations Act (British Columbia).  The Arrangement will also include an agreed upon working capital amount to facilitate exploration activities at these projects.

Shareholders of record on June 30 2017 will be entitled to receive a distribution of shares in a new gold entity that will be listed on a Canadian stock exchange.  Additional details regarding the Arrangement will be provided as they become available.

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

 

About the Kahuna Project

Kahuna is an advanced stage high grade diamond project located near Rankin Inlet, Nunavut.  Dunnedin is now recovering diamonds and indicator minerals from a series of kimberlite and till samples collected in from two seasons of field work.  An Inferred Resource released by Dunnedin showed over 4 million carats of macrodiamonds (+0.85 mm) at a grade of 1.01 carats per tonne had been defined along the partial strike length of the Kahuna and Notch kimberlite dikes through shallow drilling.  The largest diamond recovered was a 5.43 carat stone from the Kahuna dike which was a piece of a larger diamond that had been broken during the sample preparation process and was reconstructed as having an original size of 13.42 carats.  Recent results include a 0.82 tonne sample of the PST kimberlite dike which returned 96 macrodiamonds totalling 5.34 carats (+0.85 mm) and a 2.36 tonne sample of the Notch kimberlite which returned 89 macrodiamonds totalling 2.38 carats (+0.85 mm).

 

The Kahuna project is located adjacent to the development-stage Meliadine gold project of Agnico Eagle Mines Ltd. Meliadine has approximately 14.5 million tonnes of Proven and Probable Reserves grading 7.32 g/t gold, containing 3.4 million ounces of gold as of December 31, 2015.   There is an additional Indicated Resource of 20.7 million tonnes grading 4.95 g/t gold containing 3.3 million ounces of gold, and an additional Inferred Resource of 14.7 million tonnes grading 7.51 g/t gold containing 3.5 million ounces of gold (source: www.agnicoeagle.com).

 

 

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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07 Dec

Dunnedin Doubles Area of Kahuna Project

December 7, 2016 – Vancouver, BC, Canada. – Dunnedin Ventures Inc. (the “Company” or “Dunnedin”) (TSX-V: DVI) today announced it has increased the size of the Kahuna diamond project by staking an additional 59 claims totaling 66,047 hectares.  The project is now approximately 120,000 hectares (1,200 square kilometres) in size.  The Kahuna project now consists of:

  • Over 100 interpreted kimberlite pipe targets, 50 of which are currently being screened for down-ice diamond indicator mineral (“DIM”) chemistry from till sampling;
  • Over 200 kilometres of aggregate strike length of a kimberlite-intruded structural network including 10 drill-proven diamond bearing kimberlite dikes with sample grades ranging from 0.66 to 6.5 carats (+0.85 mm) per tonne, and;
  • Five confirmed gold-bearing metasediment belts with approximately 190 kilometres of aggregate strike length, including drill-confirmed gold in an extension of the Aqpik and Aklak host stratigraphy held by Agnico Eagle Mines Ltd. (TSE: AEM, “Agnico”) on the Meliadine property.

The Company notes an increasing level of exploration and development activity in the Kahuna and Meliadine project area, with Agnico recently entering into mineral exploration agreements extending their land position into areas of Inuit-owned subsurface rights adjacent to Dunnedin’s claims.  Most recently, NxGold Ltd. (TSX-V: NXN, “NxGold”) announced a $35+ million earn-in deal for a 70% interest in a 8,473 hectare (85 square kilometre) land package adjacent to the Meliadine claims.  An updated claims map is provided below in Figure 1.

As previously announced (see Dunnedin news release of November 23, 2016), Dunnedin intends to undertake a plan of arrangement to spin out its gold and copper assets, consisting of the gold rights at the Kahuna project in Nunavut and its Trapper copper-gold porphyry property in British Columbia.  Further information including a date of record will be provided when details are available.

About the Kahuna Project

Kahuna is an advanced stage high grade diamond project located near Rankin Inlet, Nunavut, where Dunnedin is earning a 100% interest.  Dunnedin is recovering diamonds and indicator minerals from a series of kimberlite and till samples collected in summer 2015, and has completed a 1,100 till sample program in summer 2016.  The Company anticipates beginning a drilling and bulk sampling program in 2017 that will test potential extensions to recently published Inferred Resources, assemble a valuation parcel of approximately 1,000 carats of commercial-sized diamonds, and test a number of newly defined high priority kimberlite targets that have yielded populations of diamond indicator minerals.

Kahuna project land position December 2016 showing gold zones on adjacent claims and drill-confirmed diamond bearing kimberlites at Kahuna.

Figure 1: Kahuna project land position December 2016 showing gold zones on adjacent claims and drill-confirmed diamond bearing kimberlites at Kahuna.

An Inferred Resource released by Dunnedin (see Dunnedin news release of January 26, 2015) identified over 4 million carats of macrodiamonds (+0.85 mm) at a grade of 1.01 carats per tonne along the partial strike length of the Kahuna and Notch kimberlites through shallow drilling.  The largest diamond recovered was a 5.43 carat stone from the Kahuna dike which was part of a larger diamond that had been broken during the sample preparation process and was reconstructed as having an original size of 13.42 carats.

Recent results include a 0.82 tonne sample of the PST kimberlite dike which returned 96 macrodiamonds totalling 5.34 carats (+0.85 mm) and a 2.32 tonne sample of the Notch kimberlite which returned 85 macrodiamonds totalling 1.95 carats (+0.85 mm).

The Kahuna project is located adjacent to the development-stage Meliadine gold project of Agnico Eagle Mines Ltd. and has also yielded gold results, including visible gold in drill core, gold mineralization in the strike extension of the Meliadine host stratigraphy, and new gold-in-till targets proximal to diamond-bearing kimberlites. Agnico’s Meliadine project has approximately 14.5 million tonnes of Proven and Probable Reserves grading 7.32 g/t gold, containing 3.4 million ounces of gold as of December 31, 2015.   There is an additional Indicated Resource of 20.7 million tonnes grading 4.95 g/t gold containing 3.3 million ounces of gold, and an additional Inferred Resource of 14.7 million tonnes grading 7.51 g/t gold containing 3.5 million ounces of gold (source: www.agnicoeagle.com).

On December 6, 2016, the Company granted 150,000 Options to a Consultant of the Company.  The Options are exercisable at a price of $0.195 per share for a period of two years from the date of grant. The Options were granted pursuant to the Company’s shareholder-approved stock option plan and are subject to the policies of the TSX Venture Exchange and any applicable regulatory hold periods.

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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31 Aug

Dunnedin Begins Field Program at Kahuna and Provides Permitting Update

Dunnedin Ventures Inc. (the “Company” or “Dunnedin”) (TSX-V: DVI) is pleased to announce the start of field investigations and to provide permitting updates for its Kahuna project, located near Rankin Inlet, Nunavut.  Field crews are currently collecting approximately 1,000 till samples across the Kahuna property.  This is ten times the number of samples collected during Dunnedin’s 2015 program, which successfully applied exploration and diamond indicator mineral classification techniques pioneered by Dunnedin’s advisor Dr. Chuck Fipke to define a number of new potentially diamond-bearing kimberlite targets.

Chris Taylor, Dunnedin’s CEO stated, “Our 2015 till program was a highly successful but focused orientation survey of only 118 samples.  That work identified several new targets consistent with our known diamond-bearing kimberlites, including both dike and pipe targets, and extensions to known diamond-bearing kimberlites.  We anticipate that this summer’s 1000 sample program will define additional targets and will allow us to accurately prioritize sites for upcoming drilling and bulk sampling.”

 

The 2016 field program has an estimated budget of $350,000, which is kept low by infrastructure and service advantages associated with the project’s location near both Rankin Inlet and Chesterfield Inlet.

 

The Company is currently completing diamond recoveries from the Notch, PST and Kahuna kimberlites sampled in 2015, along with processing of the 2015 till samples for potential gold content.  Results will be issued as received.  It is anticipated that processing of the 2016 till samples will be completed in time to guide the upcoming winter program in 2016 – 2017.

 

Permitting Update

 

The Company is also pleased to report that Indigenous and Northern Affairs Canada (INAC) has endorsed modification and resubmission of the Company’s multi-year exploration permit application to the Nunavut Impact Review Board (NIRB).  In a letter addressed to NIRB dated August 2016, INAC stated, “We are pleased to hear that Dunnedin Ventures Inc. has already taken steps to address the concerns raised by the Board in its Screening Decision Report, including engaging in community consultation activities, and that it plans to submit a revised Project proposal.”

 

In April 2016, NIRB recommended to INAC that the Company should either modify and resubmit, or alternatively abandon its multi-year exploration permit application, and provided a list of required steps to complete prior to resubmission.  INAC’s decision to support resubmission rather than abandonment streamlines the permitting process and allows the Company to focus on implementing NIRB’s suggestions within the framework of the existing application.  Dunnedin has recently completed all suggested steps, and plans to resubmit its application to the Nunavut Planning Commission over the coming weeks.  Current permits allow the Company to continue sampling work through 2017 – 2018.

 

A full version of INAC’s decision can be accessed at:

ftp://ftp.nirb.ca/01-SCREENINGS/COMPLETED%20SCREENINGS/2015/15EN028-Dunnedin%20Ventures%20Inc-Kahuna%20Project/03-DECISION/160815-15EN028-INAC%20Minister%20Response%20to%20NIRB%20Recommendation-IA1E.pdf

About the Kahuna Project

 

Kahuna is an advanced stage diamond project located near Rankin Inlet, Nunavut.  An Inferred Resource released by Dunnedin showed over 4 million carats of commercial-sized diamonds (+0.85 mm) at a grade of 1.01 carats per tonne had been defined along the partial strike length of the Kahuna and Notch kimberlite dikes through shallow drilling.  The largest diamond recovered was a 5.43 carat stone from the Kahuna dike that had been broken during sample processing and was reconstructed as having an original size of 13.42 carats.  Recent results include a 0.82 tonne sample of the PST kimberlite dike which returned 96 macrodiamonds totalling 5.34 carats (+0.85 mm) and a 1.02 tonne sample of the Notch kimberlite that returned 36 commercial-sized diamonds (+0.85 mm) totalling 0.66 carats (+0.85 mm).  The Kahuna project is located adjacent to the development-stage Meliadine gold project of Agnico Eagle Mines Ltd.

 

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. Chris Taylor, M.Sc., P.Geo, CEO, at 778-327-5799.

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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20 Apr

Dunnedin Meets Local Communities and Updates Application

April 20, 2016 – Vancouver, BC, Canada. – Dunnedin Ventures Inc. (the “Company” or “Dunnedin”) (TSX-V: DVI) reports that company representatives held a series of successful meetings with community members, as well as local, regional and territorial government representatives in Chesterfield Inlet and Rankin Inlet April 12 and 13, 2016.  Dunnedin gained valuable insight on mitigating potential impacts of its proposed work and has made the following commitments and modifications to its proposed exploration plans:

 

-Commitment to engage the communities including elders regularly and to integrate local knowledge into exploration plans on an ongoing basis

 

-Updates to the Company’s Wildlife and Environment Monitoring and Mitigation Plan (WEMMP), integrating traditional knowledge

 

-Avoidance of Josephine Lake for mineral exploration purposes and avoidance of traditional hunting and fishing areas along the Josephine River, with local guidance

 

-Commitment to support the Kivalliq Inuit Association (KIA) with their initiative to clean-up the abandoned mineral exploration camp at Josephine Lake; while not on Dunnedin’s claims, the camp should be remediated to the benefit of all local stakeholders including Dunnedin, and

 

-Commitment to implement archaeological surveys over proposed work areas in advance of any work, and to report any findings to local and territorial government

 

The Company is currently updating its application to include all recommendations made by the Nunavut Impact Review Board (NIRB), and expects to submit the updated application to Indigenous and Northern Affairs Canada (INAC) by next week.

 

“I would like to thank all community members and leaders who attended our meetings in Chesterfield Inlet and Rankin Inlet last week,” said Chris Taylor, Dunnedin’s CEO, “We at Dunnedin will do our best to be respectful guests as we explore for diamonds.  We look forward to providing economic opportunities and benefits to members of both communities in a way that supplements and is compatible with traditional ways of life.”

For further information please contact Mr. Chris Taylor, M.Sc., P.Geo, CEO at 604 681 0084.

On behalf of the Board of Directors

 

Dunnedin Ventures Inc.

 

Chris Taylor

Chief Executive Officer

 

About the Kahuna Project

 

Kahuna is an advanced stage high grade diamond project located near Rankin Inlet, Nunavut.  Dunnedin is now recovering diamonds and indicator minerals from a series of kimberlite and till samples collected in summer 2015.  An Inferred Resource released by Dunnedin showed over 4 million carats of macrodiamonds (+0.85 mm) at a grade of 1.01 carats per tonne had been defined along the partial strike length of the Kahuna and Notch kimberlite dikes through shallow drilling.  The largest diamond recovered was a 5.43 carat stone from the Kahuna dike that had been broken during the sample preparation process and was reconstructed as having an original size of 13.42 carats.  Recent results include a 0.82 tonne sample of the PST kimberlite dike which returned 96 macrodiamonds totalling 5.34 carats (+0.85 mm).

 

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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