26 Jun 2019

Dunnedin Extends Warrant Expiry Dates

June 26, 2019 – Vancouver, British Columbia – Dunnedin Ventures Inc. (the “Company” or “Dunnedin”) (TSX-V: DVI) announces that it will extend the expiry dates of 8,957,000 outstanding Dunnedin warrants (the “Warrants”) by two years as detailed below (Table 1). Approval from the TSX Venture Exchange has been received. The Warrants were originally issued on July 17, 2017 in connection with a private placement of units of the Company (see news releases dated June 20, 2017 and July 20, 2017).

Subsequent to the issue of the Warrants, the Company spun out Solstice Gold Corp (“Solstice”) through a statutory plan of arrangement (the “Arrangement”) and each Dunnedin warrant held as of the record date of the Arrangement was deemed to have been exchanged for a fully-vested Dunnedin replacement warrant and one-third of one fully-vested Solstice warrant. The exercise prices for the Dunnedin replacement warrants have been adjusted to account for the Arrangement (see news releases dated January 31, 2018 and June 4, 2018). The Warrants continue to be exercisable at their adjusted exercise price and all other terms of the Warrants will remain the same.

Table 1:

Number of Dunnedin Warrants Adjusted Exercise Price (post-Arrangement) Original Expiry Date Amended Expiry Date
8,294,500 $0.23 July 17, 2019 July 17, 2021
662,500 $0.27 July 17, 2019 July 17, 2021

Claudia Tornquist, President and CEO of Dunnedin, said, “We are pleased to extend the expiry dates of these warrants as this will enable our shareholders to participate in the upside from our two upcoming drill programs. We are planning to drill the MPD copper-gold porphyry project this summer and then move on to our Mohave copper porphyry project in Arizona where a drill program is planned later this year.”

For further information please contact Mr. Knox Henderson, Investor Relations, at 604-551-2360 or khenderson@dunnedinventures.com.

On behalf of the Board of Directors

Dunnedin Ventures Inc.

Claudia Tornquist

President & CEO

About Dunnedin Ventures Inc.

Dunnedin Ventures is advancing copper porphyry projects in Canada and the USA; and the Kahuna diamond project in Nunavut, Canada. Dunnedin’s porphyry assets all present known mineral discoveries with the potential to hold large-scale deposits. They include the Trapper copper-gold porphyry project in the northern Golden Triangle region of British Columbia, the MPD copper-gold porphyry project in the prolific Quesnel Trough in south-central British Columbia and the Mohave copper-molybdenum-silver porphyry project near the world-class Bagdad mine in Arizona.

The advanced-stage Kahuna diamond project in Nunavut hosts a high-grade, near surface inferred diamond resource and numerous kimberlite pipe targets.  Dunnedin holds diamond interests in 1,664 km2 of mineral tenure located 26 kilometres from Rankin Inlet and adjacent to Agnico Eagle’s Meliadine gold mine.  Dunnedin’s exploration is aimed at the discovery of diamondiferous kimberlite pipes, working with its advisor and largest shareholder Dr. Chuck Fipke.

Based in Vancouver, Dunnedin is backed by a world-renowned team of exploration experts with decades of combined exploration experience and significant capital market strength. Dunnedin is part of the Discovery Group of companies led by John Robins, one of the most successful mining entrepreneurs in Canada.

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. Accordingly, readers should not place undue reliance on forward-looking statements.  Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, except as required by applicable securities laws.

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22 May 2019

Dunnedin Closes Acquisition of the Mohave Copper Porphyry Project in Arizona, USA

May 22, 2019 – Vancouver, British Columbia

Dunnedin Ventures Inc. (the “Company” or “Dunnedin”) (TSX-V: DVI) today announced that it has closed the acquisition of 100% of the Mohave copper-molybdenum-silver porphyry project (“Mohave”) in Mohave County, Arizona, USA, from Bluestone Resources Inc. (“Bluestone”). For details of the transaction see Dunnedin’s news release of March 4, 2019.

Claudia Tornquist, President and CEO of Dunnedin, said, “We are thrilled to close this acquisition which expands Dunnedin’s copper portfolio to three advanced stage porphyry projects in North America. At Mohave we will benefit from the excellent work done by the previous operator Bluestone from whom we inherited a comprehensive suite of high-quality exploration data. In 2011 Bluestone drilled 11 core holes and reported anomalous mineralization over significant intervals in all holes.  The work to date strongly indicates that there is a large system of porphyry style Cu-Mo-Ag mineralization present at Mohave and we have a number of promising drill targets which we intend to follow-up on in the fall, after we complete the summer exploration programs on our Canadian porphyry projects MPD and Trapper.”

Mohave Project Summary

Mohave is a 10 km2 property located in the prolific mineral producing Basin and Range Province of Arizona and 33 kilometres west of Freeport McMoran’s Bagdad copper porphyry mine. The project is ideally situated just west of Highway 93 which links Las Vegas and Phoenix (Figure 1).

Figure 1 – Location

Limited exploration at Mohave to date (26 drill holes since 1960’s) clearly indicates the potential to discover a sizeable porphyry style copper-molybdenum-silver (Cu-Mo-Ag) deposit. Historic geological, geochemical and geophysical data shows the project has many hallmarks of a silica-rich calc‐alkalic porphyry system:

  • Cu-Mo-Ag geochemical anomalies and structural controls are associated with Laramide intrusions, analogous to those described at Bagdad
  • Multiple and complex Cu-Mo-Ag emplacement is related to lithological and structural events (breccias, hydrothermal veining/stockwork) with younger Mo-Ag and Pb-Zn-Ag overprints
  • Examples of reported historic values include 0.49% Cu over 59.4 m, 0.2% Cu, 0.011% Mo, and 2.35 g/mt Ag over 65.8 m and 0.3% Cu, 0.01% Mo, and 2.54 g/mt Ag over 70.7 m
  • A broad Induced Polarization (IP)/chargeability anomaly 4 km long and 3 km wide, bounded by semi‐circular structure/faults and coinciding with strong Cu-Mo and Ag rock and soil geochemical anomalies
  • Presence of supergene oxidation of a quartz vein pyrite‐chalcopyrite hypogene sulfide system
  • Typical concentric alteration pattern and assemblages consistent with potassic, intermediate argillic, phyllic and propylitic horizontal and vertical zonation

Recent comprehensive work by the previous operator Bluestone provides Dunnedin with a solid framework from which to resume exploration. Bluestone reported favourable mineralization at surface to depths of 390 m from the first drill program in over 20 years (3,500 m in 11 inclined holes in 2011).  Bluestone’s work also included: IP/magnetic/radiometric ground geophysics, ASTER remote sensing, >1,000 rock and soil geochemical samples, petrography/age dating and detailed lithological-structural-alteration mapping. Many of the datasets demonstrate the distinctive round or “donut-shaped” features typical of porphyry centres (Figures 2).

Figures 2 – Ground magnetics, IP sections, copper geochemistry and molybdenum geochemistry

Dunnedin’s exploration program in 2019 will evaluate historically defined targets, coincident geophysical/geochemical signatures and in particular, numerous anomalies not yet tested by previous drilling.

Disclaimer

Management cautions that Dunnedin has not performed any exploration on the Mohave Project to date. Historic information reported herein was obtained from publicly available and industry related reports. This news release contains historic data that Dunnedin believes to be from reliable sources using industry standards at the time, but the Company has not independently verified, or cannot guarantee, the accuracy of the information disclosed, and readers should use caution in placing reliance on such information. Comparisons to adjacent or similar mineral properties, deposits and mines are provided for information purposes only. Dunnedin has no interest in, or rights to explore or mine any such properties and references to deposits and reserves reported herein are not indicative of deposits or results obtained on the Company’s properties.

Jeff Ward, P.Geo, Vice President Exploration and a Qualified Person under National Instrument 43-101, has reviewed and approved the technical information contained in this release.

For further information please contact Mr. Knox Henderson, Investor Relations, at 604-551-2360 or khenderson@dunnedinventures.com.
On behalf of the Board of Directors

Dunnedin Ventures Inc.

Claudia Tornquist
President & CEO

About Dunnedin Ventures Inc.

Dunnedin Ventures is advancing copper porphyry projects in Canada and the USA; and the Kahuna diamond project in Nunavut, Canada. Dunnedin’s porphyry assets all present known mineral discoveries with the potential to hold large-scale deposits. They include the Trapper copper-gold porphyry project in the northern Golden Triangle region of British Columbia, the MPD copper-gold porphyry project in the prolific Quesnel Trough in south-central British Columbia and the Mohave copper-molybdenum-silver porphyry project near the world-class Bagdad mine in Arizona.

The advanced-stage Kahuna diamond project in Nunavut hosts a high-grade, near surface inferred diamond resource and numerous kimberlite pipe targets.  Dunnedin holds diamond interests in 1,664 km2 of mineral tenure located 26 kilometres from Rankin Inlet and adjacent to Agnico Eagle’s Meliadine gold mine.  Dunnedin’s exploration is aimed at the discovery of diamondiferous kimberlite pipes, working with its advisor and largest shareholder Dr. Chuck Fipke.

Based in Vancouver, Dunnedin is backed by a world-renowned team of exploration experts with decades of combined exploration experience and significant capital market strength. Dunnedin is part of the Discovery Group of companies led by John Robins, one of the most successful mining entrepreneurs in Canada.

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. Accordingly, readers should not place undue reliance on forward-looking statements. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, except as required by applicable securities laws.

 

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29 Apr 2019

Dunnedin Closes Private Placement, Announces Board and Advisor Appointments

April 29, 2019 – Vancouver, British Columbia – Dunnedin Ventures Inc. (the “Company” or “Dunnedin”) (TSX-V: DVI) today announced that it has closed a non-brokered private placement of non flow-through units (each, a “NFT Unit”) and flow-through units (each, a “FT Unit“) for gross proceeds of $1,482,050 (the “Offering”).

The Company has issued 11,458,999 NFT Units at a price of $0.075 per share and 5,534,448 FT Units at a price of $0.1125 per share through the Offering. Each Unit consists of one common share and one-half-of-one common share purchase warrant entitling the holder to acquire an additional common share at a price of $0.15 for a period of twenty-four months.  The common share purchase warrants issued as part of the Units are subject to accelerated expiry in the event the common shares of the Company trade on the TSX Venture Exchange at a closing price of $0.25 or more for twenty consecutive trading days.

Claudia Tornquist, President of Dunnedin, said, “Dunnedin’s team is looking forward to kicking off a busy exploration season on several fronts, and we are now fully funded for this work. Over the winter months we have expanded our project portfolio through two acquisitions in the copper porphyry space, MPD and Mohave, to add to our existing copper project, Trapper. This means we now have additional opportunities over and above our Kahuna diamond project in Nunavut and are in a position to explore throughout the year. We will start within weeks with an exploration program at the formerly drilled and recently consolidated MPD in southern BC, which we are confident presents an excellent opportunity for discovery.”

In connection with the closing of the placement the Company paid finders’ fees of $34,496 and issued 451,240 common share purchase warrants exercisable to acquire common shares of the Company (each, a “Finders Warrant”) to eligible parties who introduced subscribers to the placement.  All securities issued in connection with the private placement are subject to a four-month-and-one-day statutory hold period from the date of issue, expiring on September 2, 2019.

Proceeds of the Offering will be used to fund the Company’s exploration program on the MPD copper porphyry project in British Columbia and for general corporate purposes.

Dunnedin is also pleased to report that Patrick McAndless, B.Sc. P.Geo, has joined the Company as Technical Advisor. Patrick is a former Director of Dunnedin Ventures, and an industry awarded explorationist and recognized copper porphyry expert with over 45 years of industry experience and a track record of discovery. He is the recipient of numerous awards, including the prestigious BC and Yukon Chamber of Mines H. H. “Spud” Huestis Award for excellence in prospecting and mineral exploration. The Company has granted Mr. McAndless 50,000 stock options, exercisable at $0.075 per share for five years from the date of issuance.

The Company also announces that Chris Taylor will move from his position as CEO to be Chairman of the board of Dunnedin. Claudia Tornquist will be assuming the role of CEO in addition to the President role. Steven Krause who has been a director of the Company since November 2018 will be appointed as lead independent director.

“I would like to welcome Patrick as a strategic advisor to Dunnedin,” said Tornquist. “He is a leading expert in copper porphyry exploration and well connected in the industry. Dunnedin is fortunate to attract an advisor of Patrick’s caliber and will benefit greatly from his wealth of experience. The new structure of Dunnedin’s board will strengthen the Company as we continue to grow. I am looking forward to working with Chris in his capacity as Chairman where Dunnedin will continue to benefit from his experience and support. I am extremely pleased that Steven has taken on the additional responsibility of lead independent director.”

 

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

khenderson@dunnedinventures.com.

On behalf of the Board of Directors

Dunnedin Ventures Inc.

 

Claudia Tornquist

President

 

About Dunnedin Ventures Inc.

Dunnedin Ventures is advancing copper porphyry projects in Canada and the USA; and the Kahuna diamond project in Nunavut, Canada. Dunnedin’s porphyry assets all present known mineral discoveries with the potential to hold large-scale deposits. They include the Trapper copper-gold porphyry project in the northern Golden Triangle region of British Columbia, and the MPD copper-gold porphyry project in the prolific Quesnel Trough in south-central British Columbia. In March 2019, Dunnedin entered into a letter of intent to acquire the Mohave copper-molybdenum-silver porphyry project near the world-class Bagdad mine in Arizona.

The advanced-stage Kahuna diamond project in Nunavut hosts a high-grade, near surface inferred diamond resource and numerous kimberlite pipe targets.  Dunnedin holds diamond interests in 1,664 km2 of mineral tenure located 26 kilometres from Rankin Inlet and adjacent to Agnico Eagle’s Meliadine gold mine.  Dunnedin’s exploration is aimed at the discovery of diamondiferous kimberlite pipes, working with its advisor and largest shareholder Dr. Chuck Fipke.

Based in Vancouver, Dunnedin is backed by a world-renowned team of exploration experts with decades of combined exploration experience and significant capital market strength. Dunnedin is part of the Discovery Group of companies led by John Robins, one of the most successful mining entrepreneurs in Canada.

 

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. Accordingly, readers should not place undue reliance on forward-looking statements.  Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, except as required by applicable securities laws.

 

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20 Mar 2019

Dunnedin Defines Potential Diamond Source Target Area at Kahuna Project, Nunavut

March 20, 2019 – Vancouver, British Columbia – Dunnedin Ventures Inc. (the “Company” or “Dunnedin”) (TSX-V: DVI) today announced results from 109 till samples collected in the Josephine Target Area (JTA) during the fall of 2018. Results have defined a discrete target area for potential diamond sources of 3 km2 at the head of the JTA, a trend of abundant high-quality diamond indicator minerals (DIM) for which no source is known yet. Although the focus of Dunnedin’s near-term exploration plans will be on its recently expanded portfolio of large-scale copper porphyry projects in Canada and the USA (see news releases of November 29, 2018 and March 4, 2019), the Company’s next diamond-focused exploration campaign will be aimed at the discovery of kimberlite pipes within this newly defined area.

The Company collected approximately 750 till samples in the JTA in the fall of 2018, of which 109 priority samples have been analysed by CF Mineral Research Ltd. (“CFM”) laboratory in Kelowna, BC.  Superior DIM chemistry in these recent results confirms that the JTA is the most prospective area on the Kahuna property to host significantly diamondiferous kimberlite (see Figure 1). A summary of these select till results are as follows:

  • Ranked results from 109 priority samples have constrained the source of DIMs to a 3 km2 area at the northwest up-ice end of the JTA
  • The discreet trend of abundant of high-quality DIMs in the JTA have led to a target area with no known diamond sources yet
  • Individual sites having unique DIM abundance and chemistry, but internal to the JTA trend, are also considered priority targets
  • Geophysical targeting will focus on pipe-like signatures and untested geophysical responses identified to date
  • Priority targets will be tested with core drilling with program and budget to be determined in early 2019

“The Josephine Target Area is the most intriguing and prospective area on the Kahuna project,” said Claudia Tornquist, President of Dunnedin. “We believe it has exceptional potential for the discovery of one or several large diamond sources. With the help of our advisor, diamond expert Dr. Chuck Fipke, we have systematically analysed a large number of samples across our property over the course of four years to vector in on new diamond-bearing kimberlites. Last year’s exploration program and this latest batch of samples was a big step forward as we now have narrowed down our search for new diamond-bearing kimberlites to a small area of only 1,500 m by 2,250 metres. We are pleased that the recent sample results show a clear cut-off of the indicator mineral train, signifying that we are now close to the one or more diamond sources. The next step will be to define discreet drill pipe-like targets for our next exploration program.”

Figure 1: Josephine Target Area, Kahuna Diamond Project, Nunavut, Canada

QA/QC

Till samples collected on the Kahuna property are shipped to the CF Mineral Research Ltd. (“CFM”) laboratory in Kelowna, BC for processing and analysis. Using a scanning electron microprobe (“SEM”), CFM employs proprietary mineral chemistry filters and classification criteria to determine diamond indicator minerals (“DIM”), which distinguish indicator minerals that formed with diamonds from those just associated with kimberlite host rocks (“KIM”). Sample sites are subsequently ranked from 1 (low priority) to 10 (high priority) based on both the quantity and quality of DIMs and quantity of KIMs in each sample. CFM operates using reference standards, internal quality assurance protocols, security and operating procedures for processing, recovery and reporting of results. The CFM laboratory is accredited and audited for international quality standards through the International Organization for Standardization/International Electrotechnical Commission (ISO/IEC) 17025:2005, which includes ISO 9001:2015 specifications.

Jeff Ward, P.Geo, Vice President Exploration and a Qualified Person under National Instrument 43-101, has reviewed and approved the technical information contained in this release.

For further information please contact Mr. Knox Henderson, Investor Relations, at 604-551-2360 or
khenderson@dunnedinventures.com.

On behalf of the Board of Directors
Dunnedin Ventures Inc.

Chris Taylor
Chief Executive Officer

Claudia Tornquist
President

 

About Dunnedin Ventures Inc.

Dunnedin Ventures Inc. (TSX-V: DVI) is advancing its 100% owned Kahuna Diamond Project in Nunavut, and copper porphyry projects in British Columbia and Arizona, USA.  The Kahuna Project hosts a high-grade, near surface inferred diamond resource and numerous kimberlite targets. The Company is working with its advisor and largest shareholder Dr. Chuck Fipke to define and prioritize drill targets based on an extensive historic data set, and diamonds and indicator minerals recovered from a series of kimberlite and till samples collected by Dunnedin over four seasons of field work.

Dunnedin also holds 100% interests in the Trapper Porphyry Project in the northern Golden Triangle region of British Columbia, and the MPD Project in south-central British Columbia near Princeton. The Trapper and MPD Projects are interpreted to overlie gold-rich copper porphyry systems having surface geochemical, geophysical and regional alteration signatures of considerable size. In March 2019, Dunnedin entered into a letter of intent to acquire 100% of the Mohave copper-molybdenum-silver porphyry project in Yavapai County, Arizona, USA.

Based in Vancouver, Dunnedin is part of the Discovery Group of companies led by John Robins, a mining entrepreneur who founded and chaired of Kaminak Gold which Goldcorp acquired for $520 million . Dunnedin’s management team has significant capital market strength and is backed by an experienced team of exploration experts with a track record of discovery.

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. Accordingly, readers should not place undue reliance on forward-looking statements.  Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, except as required by applicable securities laws.

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04 Mar 2019

Dunnedin Bolsters Copper Porphyry Assets with Acquisition of 100% Interest in Mohave Copper-Molybdenum-Silver Project in Arizona

March 4, 2019 – Vancouver, British Columbia – Dunnedin Ventures Inc. (the “Company” or “Dunnedin”) (TSX-V: DVI) today announced it has entered into a letter of intent to acquire 100% of the Mohave copper-molybdenum-silver porphyry project (“Mohave”) in Yavapai County, Arizona, USA, from Bluestone Resources Inc. The Mohave acquisition represents a strong addition to Dunnedin’s copper portfolio in North America which also includes Dunnedin’s 100%-owned Trapper and MPD copper porphyry projects in British Columbia, Canada.

Mohave has the potential to host a large-scale copper porphyry deposit with silver and molybdenum credits. Its geology is considered analogous to Freeport McMoran’s (NYSE: FCX) Bagdad copper porphyry mine which is located approximately 33 km to the east of Mohave.

“Mohave enhances Dunnedin’s copper portfolio with a US-based asset located in a prolific copper mining district,” said Claudia Tornquist, President of Dunnedin. “Investor sentiment in the United States favours domestic resource production, thus developing a copper project at Mohave is anticipated to have strong appeal.  Mohave is an underexplored property with nearby producing mines and excellent infrastructure.  Previous drilling has confirmed porphyry style copper-molybdenum-silver mineralization.  Significant copper-in-soil targets have been historically defined and remain untested.  With three copper assets in British Columbia and Arizona, Dunnedin will now be able to drill year-round. Our first drill program will be at our MPD Project in Southern British Columbia in early 2019 and we are starting preparatory work immediately for a drill program at Mohave later in in the year.”

 

Mohave Project Highlights

  • Copper porphyry project located in the prolific mineral producing Basin and Range Province of Arizona
  • 4 km2 land package, road-accessible and adjacent to Highway 93 which links Las Vegas and Phoenix
  • Geologically and structurally analogous to the Bagdad mine and typified by structures associated with the Lariamide extensional event, like those preferentially mineralized at Bagdad
  • Magnetics define a sizable ring or donut-type feature characteristic of copper porphyry deposits
  • Extensive rock and soil mineralization over a large area of the project with a coincident Induced Polarization (IP) geophysical anomaly (2.5 km x 2.5 km)
  • Circular Cu-Mo-Ag soil geochemical and geophysical anomalies are not fully tested by drilling
  • Geological, geochemical and geophysical surveys indicate that Mohave is part of an extensive sulphide-bearing hydrothermal system
  • Mineralization at Mohave is dominated by potassic alteration having multiple and complex Cu-Mo-Ag events with younger Mo-Ag and Pb-Zn-Ag overprints
  • Two small scale historic mines operated on the Mohave property in the 1950’s and 1960’s: the Wikieup Queen copper oxide mine and the Scott Fault molybdenum-lead-silver mine

 

In the late 1960’s and early 1970’s explorers identified Cu-Mo-Ag porphyry mineralization in several shallow churn holes to depths ranging from 30.5 m to 152.4 m. In 2011, eleven wide-spaced core holes totaling 3,500 m were drilled. Highlights of historical drill results at Mohave are shown in Figure 1 below and include:

  • 59.4 m grading 0.49% Cu
  • 65.8 m grading 0.2% Cu, 0.011% Mo, and 2.35 g/mt Ag
  • 70.7 m grading 0.3% Cu, 0.01% Mo, and 2.54 g/mt Ag
  • A surface trench returned 50.3 m grading 0.24% Cu and 0.076% Mo

 

Figure 1: Mohave Copper-Molybdenum-Silver Porphyry Property

 

Transaction Details

Dunnedin has entered into a non-binding letter of intent to acquire a 100% interest in Mohave subject to the execution of a definitive agreement and other customary conditions including the approval of the TSX-Venture Exchange. The consideration for Mohave consists of:

  • C$50,000 in cash and C$100,000 in Dunnedin shares (“Shares”) upon closing of the Transaction;
  • 500,000 Shares upon the public disclosure of a 43-101 compliant resource for the Project;
  • 500,000 Shares upon the public disclosure of a preliminary economic analysis for the Project;
  • 500,000 Shares upon the public disclosure of a pre-feasibility or more advanced study for the Project; and
  • A 0.5% net smelter returns royalty on the Mohave Claims and on a 2 km area of interest around the Mohave Claims.

 

Including the royalty newly granted in this transaction Mohave is subject to a 3.5% net smelter return royalty of which 1% can be bought back for US$1,500,000.

Management will provide further information on 2019 exploration plans at Mohave as the project database is analyzed.

Dunnedin has also granted an aggregate of 1,700,000 stock options to management, directors and consultants of the Company, exercisable at C$0.075 per share for a period of five years.

 

Disclaimer

Management cautions that Dunnedin has not performed any exploration on the Mohave Project to date. Historic information reported herein was obtained from publicly available and industry related reports. This news release contains historic data that Dunnedin believes to be from reliable sources using industry standards at the time, but the Company has not independently verified, or cannot guarantee, the accuracy of the information disclosed, and readers should use caution in placing reliance on such information. Comparisons to adjacent or similar mineral properties, deposits and mines are provided for information purposes only. Dunnedin has no interest in, or rights to explore or mine any such properties and references to deposits and reserves reported herein are not indicative of deposits or results obtained on the Company’s properties.

Jeff Ward, P.Geo, Vice President Exploration and a Qualified Person under National Instrument 43-101, has reviewed and approved the technical information contained in this release.

For further information please contact Mr. Knox Henderson, Investor Relations, at 604-551-2360 or khenderson@dunnedinventures.com.

 

On behalf of the Board of Directors

Dunnedin Ventures Inc.

 

Chris Taylor                                      Claudia Tornquist

Chief Executive Officer                      President

 

About Dunnedin Ventures Inc.

Dunnedin Ventures Inc. (TSX-V: DVI) is focused on its 100% owned, advanced-stage Kahuna Diamond Project in Nunavut which hosts a high-grade, near surface inferred diamond resource and numerous kimberlite pipe targets.  The Company holds diamond interests in 1,664 km2 of mineral tenure located 26 kilometres northeast of Rankin Inlet and adjacent to Agnico Eagle’s Meliadine gold mine.  The Kahuna Diamond Project has an Inferred Resource Estimate of 3,987,000 tonnes at an average grade of 1.01 carats per tonne, totalling over 4 million carats of diamonds (+0.85 mm) (see news release dated March 31, 2015). Dunnedin’s drilling is aimed at the discovery of diamondiferous kimberlite pipes, and the Company is working with advisor and largest shareholder Dr. Chuck Fipke to define and prioritize drill targets based on an extensive historic data set, and diamonds and indicator minerals recovered from a series of kimberlite and till samples over four seasons of field work.  Dunnedin also holds 100% interests in the Trapper Porphyry Project in the northern “Golden Triangle” region of British Columbia, and the MPD Project in south-central British Columbia near Princeton. The Trapper and MPD Projects are interpreted to overlie gold-rich copper porphyry systems having surface geochemical, geophysical and regional alteration signatures of considerable size. Based in Vancouver, Dunnedin is backed by a world-renowned team of exploration experts with decades of combined exploration experience and significant capital market strength.

 

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. Accordingly, readers should not place undue reliance on forward-looking statements.  Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, except as required by applicable securities laws.

 

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10 Jan 2019

Dunnedin Ventures – Year-End 2018 President’s Letter

January 10, 2019

Dear Investor,

2018 marked a busy and exciting year for Dunnedin that saw progress on many fronts:

  • Our initial drill program considerably advanced the Kahuna diamond project
  • We extended two high-grade diamond bearing dikes through drilling and geophysics
  • Industry-leading kimberlite dike experts have been retained to advise on the advancement of our diamond resources
  • We furthered our exploration for diamondiferous kimberlite pipes and significantly narrowed down the most prospective area for a potential discovery
  • A till sampling campaign was completed in order to prioritize kimberlite pipe targets for follow-up drilling
  • The newly acquired MPD copper project joins our Trapper project to form a strong copper-gold porphyry portfolio in British Columbia
  • We strengthened our board with the addition of Steven Krause
  • We completed the spin-out of the gold mineralization rights on the Kahuna project into Solstice Gold Corp, which commenced trading on the TSX-V
  • Over the year Dunnedin raised $3.5 million through private placements and our advisor Dr. Charles (Chuck) Fipke increased his share in the company to over 10% through his participation

 

Diamonds from the Kahuna Project

 

Initial Drill Program at Kahuna

Dunnedin set out to drill-test the targets we determined following three years of analyzing historic data and probing thousands of surface samples for diamond indicator minerals (DIMs).  We took a prudent approach by relying on the surface exploration methods that our advisor and largest shareholder, Dr. Charles (Chuck) Fipke used to discover Canada’s Ekati mine, before embarking on our drill program.  Our initial drilling program was successful on two sides:

Kimberlite Dikes

We drilled significant extensions to two diamond bearing, high-grade kimberlite dikes. These expand the quantity of diamondiferous kimberlite  that has been confirmed on the property to date, as neither body is yet included in our maiden inferred resource of 4 million carats (see resource estimate) and target for further exploration (see TFFE estimate). To date we now have approximately 20 km of kimberlite dikes defined through drilling and geophysics and the Kahuna property hosts many more linear structures that remain largely untested and collectively comprise over 100 km of prospective, potentially kimberlite-bearing targets.

To further the potential of our kimberlite dikes Dunnedin has engaged SRK Consulting to develop options to expand the existing inferred diamond resource on the Kahuna and Notch dikes, incorporate the numerous other proven diamondiferous dikes on the Kahuna property and assess conceptual mining methods. We expect the results of this study in Q1 2019.

Kimberlite Pipes

We have significantly narrowed down our main target area for kimberlite pipes on our large property where we hold diamond rights over 1600 km2, to a 10 km2 area that shows a high concentration of high-quality DIMs. This section in the northeast of the property is known as the Josephine Target Area.

Through till sampling and drilling programs, we were able to show that known and weakly diamondiferous kimberlites in this area were not the sources of the abundant DIMs in till, which indicates that there must be one or several yet-to-be discovered sources for these DIMs nearby.  To zero-in on these sources we collected another batch of nearly 1,000 surface samples in the autumn of 2018 and we expect the priority results from these samples in the coming weeks.

 

Copper Portfolio Provides Additional Discovery Potential

In 2018 Dunnedin also started to actively explore options to unlock the value of its 100% owned Trapper copper-gold porphyry project in BC’s prolific Golden Triangle, on the heels of several high-profile porphyry exploration successes in the province.  In November we strategically acquired 100% of the historically drilled, and recently consolidated, MPD property in South-Central British Columbia. Like Trapper, MPD has immediate exploration upside and the potential to yield a major copper-gold porphyry system. The project is in a known, productive copper-gold porphyry belt with historically drilled grades similar to nearby producing mines. Dunnedin will provide further information on 2019 exploration plans at MPD as the project database is analyzed.

 

Strong Team & Strategic Alignment

On the management front, we were pleased to welcome Mr. Steven Krause to our Board of Directors. Steven is CFO of Viva Gold Corp. and former CFO of Bear Creek Mining. He was also former chairman of Luna Gold, where he led the $360m merger with JDL Gold to form Trek Mining. Steven’s experience in finance, corporate development, and governance is a welcome addition to our high-caliber team of director and advisors.

We are also proud to be affiliated with some of the most successful exploration and resource development professionals in Canada through the Discovery Group, led by John Robins.  With a shared philosophy of finding and advancing overlooked high-quality assets with good historic results and strong economic potential, several companies in this group have generated industry-leading returns for shareholders over the past year and certainly our CEO Chris Taylor is becoming well-known through the successes of our sister company Great Bear Resources, which made a significant high-grade gold discovery in Canada’s Red Lake District.

Indeed, it is our intention replicate these successes to the benefit of Dunnedin shareholders. We have the underlying assets and the team to unlock their potential. Our belief in the discovery potential at Kahuna is as strong as ever and our copper portfolio provides us with additional options to create value. In 2019 we will be pursuing a variety of avenues for funding, exploring and monetizing our assets to the benefit of shareholders. Watch for more news early this year as we move our projects forward, and we thank you for your continued support.

Sincerely,

 

Claudia Tornquist
President

 

Jeff Ward, P.Geo, Vice President Exploration and a Qualified Person under National Instrument 43-101, has reviewed and approved the technical information contained in this release.

 

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