14 Sep 2017

Dunnedin Expands Kahuna Project To 166,402 Hectares

September 14, 2017 – Vancouver, BC, Canada. – Dunnedin Ventures Inc. (the “Company” or “Dunnedin”) (TSX-V: DVI) today announced that it has expanded the Kahuna project through staking of an additional 36 claims totaling 42,128 Ha.  The total area of the Kahuna project is now 166,402 Ha, or 1,664 square kilometres.  The new claims are prospective for both gold and diamonds.

 

The summer field program has been extended to survey the newly staked ground and geological mapping, bedrock and till sampling are underway.  The new claims cover extensions to greenstone belts containing banded iron formations that have been mapped by field crews, and are known from historical work to contain gold mineralization.  Some of the new claims also cover probable up-ice sources of recently disclosed diamond indicator minerals found in tills, and geophysical targets consistent with kimberlite pipes.  The new boundaries of the Kahuna project are shown below in Figure 1.

Figure 1: Expanded boundaries of the Kahuna project, September 2017.

The Company further reports that is has begun mobilizing fuel and other materials for its planned winter drill program and is currently seeking drill bids.  Furthermore, all outstanding diamond-focused till results from its 2016 sampling program have now been received, and results will be released as soon as analysis is completed.

 

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

 

Dunnedin’s primary asset is the Kahuna project, where it is completing final steps to earn a 100 percent interest.  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 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, and remains open to extension.  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 2.03 tonne sample of the PST kimberlite dike which returned 223 macrodiamonds totalling 8.17 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. and has generated gold results in tills, bedrock and drill core across a wide area.  Gold is associated with several metasediment belts that cross the project.  The adjacent Meliadine project is also hosted by metasediments and 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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24 Aug 2017

Dunnedin Provides Update, Reports New Pipe Targets To Be Drilled At Kahuna

August 24, 2017 – Vancouver, BC, Canada. – Dunnedin Ventures Inc. (the “Company” or “Dunnedin”) (TSX-V: DVI) today provided an update on diamond exploration and permitting progress.

The Company has focused on a priority region of high quality Diamond Indicator Minerals (“DIMs”) correlated to a number of geophysical targets consistent with kimberlite pipes, as shown on Figure 1.  Three of these targets have been “boxed” by till sampling and are drill-ready, as DIM concentrations have been found down-ice from the targets, but not up-ice with respect to glacial transport.  Elsewhere on the project, field crews have also identified a pipe or “dyke-blow” target along strike of a proven diamond-bearing kimberlite dyke.  Drilling of these targets is planned for winter 2017-2018.

 

Dunnedin further reports that all required land use, water use and access permits have now been received from local, territorial and federal governments to allow a winter drill program.  The Company is sufficiently funded to execute the planned drilling.

 

New Cluster of Kimberlite Pipe Targets

 

A priority area of interest is located east of the Kahuna kimberlite dyke and is notable for having:

  • 3 drill-ready kimberlite pipe targets that have sourced high quality DIMs in tills, including clinopyroxenes with chemical signatures associated with large diamonds recovered from diamond-producing mines
  • 19 additional high priority DIM occurrences observed by Dunnedin to-date that are currently being assessed by field crews,
  • More than 30 geophysically suggested kimberlite pipe targets within a 5 kilometre radius, and
  • 10 historically drill-confirmed kimberlite pipes

While the area was also historically explored, none of the new targets specifically defined by Dunnedin have been drilled.  Dunnedin’s exploration methods differ from historical techniques by employing proprietary DIM classification filters developed by the Company’s advisor Dr. Charles Fipke, and used during the original Canadian diamond discovery at Ekati.  These filters highlight diamond-bearing kimberlites as priority targets, and allow the Company to avoid kimberlites with low diamond potential.

The Company has also engaged in3D Geoscience Inc. to model the three-dimensional shape of the kimberlite targets using the Company’s extensive geophysical database, and will use results to assist with planning of individual drill holes.

 

Figure 1: DIM results and kimberlite pipe targets east of the Kahuna dyke. Higher DIM rankings on this image are provided by a combination of higher DIM counts per till sample, quality of DIM chemistry, and assessed distance to potential bedrock source.  The area contains both drill-ready targets and additional targets now being assessed by field crews.

 

Exploration Update and Additional Targets

 

Field crews have been actively exploring the project since June of 2017.  Results to-date include mapping of the surface expressions of possible kimberlite pipes in areas that have sourced diamonds and/or DIMs.  An example of a new pipe-type target is provided in Figure 2.  The “Jigsaw” kimberlite dyke was bulk sampled in 2006 and returned 2.53 carats of commercial-sized diamonds (+0.85mm) from a 5.15 tonne bulk sample, for a sample grade of 0.49 carats per tonne.  Field crews have identified a prominent circular topographic depression adjacent to the area of historical sampling that will also be drill tested this winter.

 

Processing is also now over 90% complete on a series of 1,111 till samples collected in summer 2016 that are being analyzed at C.F. Mineral Research Ltd. of Kelowna, B.C.  Results will continue to be released as received and analyzed.

 

Figure 2: Potential kimberlite pipe target identified for follow-up drilling.  Circular topographic depression measures approximately 100m across, and may be a “dyke-blow”.


Based on the strength of results to-date, Dunnedin has expanded the scope of its ongoing till sampling program and is collecting approximately 3,500 till samples from across a 1,000 square kilometre area, in order to test a number of new targets and new areas of the project that were staked in late 2016.

 

Details of the upcoming drill program and any further drill targets will be provided when final till sampling results from the 2016 program are received, which are expected in September.

 

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

 

Dunnedin’s primary asset is the Kahuna project, where it is completing final steps to earn a 100 percent interest.  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 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, and remains open to extension.  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 2.03 tonne sample of the PST kimberlite dike which returned 223 macrodiamonds totalling 8.17 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. and has generated gold results in tills, bedrock and drill core across a wide area.  Gold is associated with several metasediment belts that cross the project.  The adjacent Meliadine project is also hosted by metasediments and 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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20 Jul 2017

Dunnedin Raises $5.1 Million

July 20, 2017 – Vancouver, BC, Canada. – Dunnedin Ventures Inc. (the “Company“) (TSX-V: DVI) today announced that it has completed an over-subscribed non-brokered private placement of flow-through (each, a “FT Unit“) and non-flow through (each, a “NFT Unit“) units for gross proceeds of $4,546,250.  In connection with closing of the placement, the Company issued 1,325,000 FT Units at a price of $0.32, and 16,489,000 NFT Units at a price of $0.25.

The Company has also received gross proceeds of $597,000 from receipt of 3,980,000 warrants originating from a private placement closed on August 29, 2016, bringing total gross proceeds of the current private placement and warrant funds receipt to $5,143,250.

Significant participants in the private placement include Evanachan Ltd., a company wholly-owned by Rob McEwen, and Northfield Capital Corporation (TSX-V: NFD.A), a company controlled by Robert Cudney.

Each FT Unit consists of one common share and one-half-of-one share purchase warrant entitling the holder to acquire an additional common share at a price of $0.40 for a period of twenty-four months.  Each NFT Unit consists of one common share and one-half-of-one share purchase warrant entitling the holder to acquire an additional common share at a price of $0.35 for a period of twenty-four months.  The share purchase warrants issued as part of the FT Units and the NFT Units are subject to accelerated expiry in the event the closing price of the common shares of the Company on the TSX Venture Exchange is $0.55 or greater for twenty consecutive trading days.

“Dunnedin is well-positioned to proceed with both diamond and gold exploration at the Kahuna project,” said Chris Taylor, CEO of Dunnedin. “Our next steps include implementation of our planned spin-out through a plan of arrangement of the gold rights to the Kahuna project.  This includes finalizing the ratio of gold-focused spinout company shares to be received by shareholders on the date of record of July 17, 2017, determination of the relative market value of the diamond and gold assets of the Company as of the record date, and proceeding with a shareholder vote to approve the plan of arrangement.  This is of course against the backdrop of an active summer exploration program that has been ongoing since June and is expected to yield results over the near-term.”

In connection with closing of the placement the Company paid finders’ fees of $285,890.50 and issued 1,118,180 share purchase warrants (each, a “Broker Warrant“) to eligible parties who introduced subscribers to the placement.  Each Broker Warrant is exercisable to acquire a common share of the Company at a price of $0.25 for a period of twenty-four months, subject to accelerated expiry on the same terms as the warrants comprising the FT Units and the NFT Units.  All securities issued in connection with the private placement are subject to a four-month-and-one-day statutory hold period.  All participants in the private placement are shareholders of record on July 17, 2017 to also receive gold-focused spinout company shares.

Chris Taylor said, “I would like to thank the team at Pollitt & Co Inc. for their assistance with the successful conclusion of this over-subscribed placement, and for representing Dunnedin with the highest professional standards.”

 

The Company intends to use the proceeds of the private placement to advance its ongoing exploration program on the Kahuna project and for general working capital purposes including completion of its previously announced spinout of rights associated with gold mineralization on that project.  It is anticipated that a significant portion of the proceeds of the placement will be used to advance gold exploration work on the project.

 

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

 

About Dunnedin Ventures

Dunnedin’s primary asset is the Kahuna project, where it has an option to earn a 100 percent interest.  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 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, and remains open to extension.  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. and has generated gold results in tills, bedrock and drill core across a wide area.  Gold is associated with several metasediment belts that cross the project.  The adjacent Meliadine project is also hosted by metasediments and 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).

 

Bob Singh, P. Geo., exploration manager, is the qualified person responsible for the technical content of this news release.

 

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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06 Sep 2016

Second Notch Sample Returns 1.29 Carats of Commercial Sized Diamonds

Dunnedin Ventures Inc. (the “Company” or “Dunnedin”) (TSX-V: DVI) is pleased to report final diamond recovery results from the Notch kimberlite.  The second, 1.30 tonne sample of Notch returned 49 commercial-sized stones (+0.85 mm) totalling 1.29 carats, for a sample grade of 0.99 carats per tonne. The largest recovered diamond was a 0.23 carat clear and colourless octahedral stone.  Results are provided in the table below along with an image of the two largest stones.

Table 1: Diamonds recovered from the Notch kimberlite

Sample Weight in Dry Tonnes Total

Number of Diamonds Recovered (+0.425 mm)

Total Carat

Weight (+0.85 mm)

Endecott Sieve Size (mm)
0.425 0.60 0.85 1.18 1.70 2.36 Sample Grade

(cpt)

Largest Diamonds

(carats)

Notch 1 1.02 278 0.66 175 67 26 8 2 0 0.65 0.10, 0.08, 0.05
Notch 2 1.30 318 1.29 179 90 33 11 3 2 0.99 0.23, 0.17, 0.09

 

Figure 1: Image of the two largest diamonds recovered from the second Notch sample.  Additional images of diamonds will be posted to the Company’s web site at www.dunnedinventures.com

NOTCH 2 - NR_SEP6

“We continue to be impressed with the quality of diamonds recovered from our kimberlites,” said Chris Taylor, CEO of Dunnedin, “Till samples, drilling and geophysics all suggest Notch may have up to double the 2.6 kilometre strike length that was used to calculate its published potential for 2 – 5 million carats of commercial sized diamonds as reported in our NI 43-101 compliant Inferred Resource and Target for Further Exploration.  Notch therefore presents an attractive target with significant potential for further resource expansion and bulk sampling.”

Most of the Notch diamonds recovered by Dunnedin are clear and colourless variants of octahedra. On January 26, 2015, Dunnedin published a NI 43-101 compliant Inferred Resource for Notch prepared by APEX Geoscience Ltd. (“APEX”) with the following highlights:

  • 829,000 carats of diamonds;
  • at a grade of 0.90 carats per tonne (+0.85 mm);
  • from 921,000 tonnes of rock;
  • based on very shallow test drilling of typically less than 80 metres depth;
  • across 2.6 kilometres of strike;
  • remains open to extension along strike and at depth

Dunnedin followed with publication of a Target for Further Exploration (“TFFE”) that provides additional potential tonnages and contained carats that are not yet included in the Notch Resource, also prepared by APEX (see Dunnedin news release of March 31, 2015) of an additional 1.10 to 4.05 million carats based on a range of possible grades and depth extents.  Note that the TFFE conservatively does not include any consideration of potential additional strike extent.

Table 2: TFFE for Notch as prepared by APEX Geoscience Ltd.

Low Range High Range
Depth

Range (m)

Tonnage Grade (cts/t) Total Carats Depth Range (m) Tonnage Grade (cts/t) Total Carats
110‐300 1,570,000 0.70 1,100,000 110‐600 4,050,000 1.00 4,050,000

 

The Notch and the Kahuna kimberlites occupy a 25+ kilometre long kimberlite-intruded structure as established by drilling, geophysics and till sampling.  While the total volume of diamond-bearing kimberlite has not yet been defined, the seven kilometres drilled to date have a published capacity for 10 – 20 million carats of commercial-sized diamonds as stated by the Inferred Resource and TFFE.  The potential quantity and grade of any TFFE is conceptual in nature, as there is insufficient exploration to define a Mineral Resource and it is uncertain if further exploration will result in the target being delineated as a Mineral Resource.

 

About the Notch Kimberlite

 

  • Vertical diamondiferous kimberlite dike that is exposed at surface; historical and current samples were taken within metres of each other from largely unweathered kimberlite

 

  • Defines the southern portion of an approximately 25 kilometre long kimberlite-intruded structure, as supported by drilling and interpreted from geophysical extensions and till sampling from drilled areas; the structure also hosts the Kahuna dike and is visible on satellite images as a recessive erosional feature

 

  • The Notch/Kahuna structure contains kimberlite at all locations where drilled, however only seven kilometres of this feature have sufficient drill density to define Inferred Mineral Resources at Notch and Kahuna, and diamond content of kimberlite can vary along strike

 

  • Width is about 1.5 metres where exposed; generally varies from approximately 1 – 2 metres in true thickness where drilled

 

  • One of several diamondiferous kimberlites discovered thus far within two kilometres of Notch, including Killiq, 07-KD-24, and PST.

 

The Notch sample was treated through an autogenous mill-fusion circuit located at CF Mineral Research Ltd. of Kelowna, British Columbia, using a lower size cut-off of 0.425 mm.  Unlike standard DMS recovery methods, the circuit can recover nearly all diamonds present in a kimberlite to the predetermined cut-off size, along with associated indicator minerals.

 

The Company has also granted an aggregate of 3,500,000 stock options to directors, advisors and consultants of the Company, exercisable at $0.19 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. 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

 

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, and is completing a 1000 till sample program in summer 2016.  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 2.32 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.

 

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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