Dunnedin Ventures Inc. (the “Company” or “Dunnedin”) (TSX-V: DVI) announces that the term of its consulting arrangement with Allan Barry Laboucan has ended, and the Company has elected not to renew the arrangement. Mr. Laboucan previously served as an advisor to the Company on matters relating to investor relations and corporate communications.
The Company is currently expecting results from a 0.82 tonne sample of the PST kimberlite that is being processed for diamond and indicator mineral recovery at CF Mineral Research Ltd. of Kelowna, British Columbia (see news release of October 8, 2015). Based on previous results, the sample is expected to produce diamonds that Dunnedin will characterize in order to guide future work. Further samples from the Kahuna, Notch and other kimberlites will be processed after receipt of results from PST. The Kahuna diamond project was recently reported to contain a 4 million carat Inferred Resource based on shallow drilling along partial strike lengths of the Kahuna and Notch kimberlites that was released by Dunnedin earlier this year (see news release of January 26, 2015; average grade of 1.01 cpt (+0.85 mm) from 3.99 million tonnes of rock).
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.
Chief Executive Officer,
About the Kahuna Project
Kahuna is an advanced stage high grade diamond project located near Rankin Inlet, Nunavut. Three main diamondiferous kimberlite dikes have been drilled and bulk sampled and returned grades of 0.85 to 2.18 carats per tonne, the Kahuna, PST and Notch. 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 kimberlites 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. The dikes have comparable strike lengths, widths and grades to producing diamond mines and occur within a broad network of largely untested geophysical targets, overlain by dense diamond indicator mineral trains.
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.