October 26, 2016 – Vancouver, BC, Canada. – Dunnedin Ventures Inc. (the “Company” or “Dunnedin”) (TSX-V: DVI) today announced it has initiated a technical and strategic review of the Company’s 100% owned Trapper project located in the Sutlahine area of northern British Columbia. Highlights include:
- 100% owned by Dunnedin covering a gold-rich copper porphyry complex
- 40 square kilometre land package adjacent to Brixton Metals Corp.’s (TSX-V: BBB, “Brixton”) Thorn property
- Circular mineralized “Ring Zone” with over 10 kilometres of strike surrounding a porphyry centre, with gold-rich polymetallic mineralization drilled across 2.2 kilometres, and associated surface copper porphyry showings
- Reconnaissance 42 drill hole, 8580 metre program completed in 2011 includes visible gold flanking copper porphyry in drill core, including 34.11 m of 1.71 g/t gold
Table 1: Highlighted drill results from gold-rich semi massive sulphide stockwork Ring Zone
|Width* (m)||Au (g/t)||Ag (g/t)||Pb (%)||Zn (%)|
* Width represents core length and is not intended to reflect true width.
“The Trapper project has seen $4 million of exploration work, which generated excellent gold drill results and surface copper porphyry showings, but is outside of our primary focus on diamond exploration at the Kahuna project in Nunavut,” said Chris Taylor, Dunnedin’s CEO, “The property overlies an unusually gold-rich porphyry copper complex including drill-ready copper porphyry and gold-rich semi-massive sulphide stockwork. Dunnedin is conducting a comprehensive review of this 100% owned project to determine how best to unlock its value for shareholders.”
Figure 1: Trapper property location map
The Ring Zone has been mapped as the sulfide mineralized halo to a gold-rich copper porphyry intrusion that has been intersected in drill core. The zone has a diameter of over 6 kilometres and displays sulphide mineralization, hydrothermal brecciation and porphyry style alteration along its approximately 15 kilometre circumference, 10 kilometres of which are on the Trapper property. The interpreted centre of the porphyry complex is entirely overlain by the Trapper claims.
Highlights of Ring Zone drill results from the 42 hole, 8580 metre program completed in 2011 (see news release of November 30, 2011, from Dunnedin’s predecessor company Ocean Park Ventures Corp.) are provided in Table 1 and Figure 2. Drilling across 2.2 kilometres intersected a semi-massive sulphide stockwork and hydrothermal breccia trend that returned strong gold mineralization including high grade visible gold flanking copper-mineralized porphyry.
Two copper porphyry centres have been mapped as flanking the Ring Zone but remain undrilled. Grab samples returning up to 0.57% copper in bedrock and 2.5% copper in float have been collected from these targets including both bornite-chalcopyrite copper sulphide mineralization, and azurite-malachite copper oxide mineralization.
Figure 2: Highlighted 2011 drill and grab sample results from the Ring Zone
As part of its strategic review, the Company completed a 60 sample heavy mineral orientation survey at Trapper in October 2016 designed to analyze zonation of alteration and sulphide mineralization at various locations across the porphyry system. Results will allow mapping of precious to base metal ratios across the project together with gold grain counts in order to prioritize areas for future work and to assist with three dimensional system-scale modeling of geology and mineralization.
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.
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.