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.

Share this
25 Jul 2017

Total Of 8.17 Carats of Commercial-Sized Diamonds Recovered From PST Kimberlite

July 25, 2017 – Vancouver, BC, Canada. – Dunnedin Ventures Inc. (the “Company” or “Dunnedin”) (TSX-V: DVI) today reported final diamond recovery results from the PST kimberlite.  A total of 8.17 carats of commercial-sized diamonds (+0.85 mm) were recovered from 2.03 tonnes of PST, for a final aggregate sample grade of 4.02 carats per tonne.  Results are provided in the table below.

 

Diamond Recoveries from PST Kimberlite

Table 1: Diamonds recovered from the PST kimberlite by Dunnedin

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 3.35 4.75 Sample Grade

(cpt)

Largest Diam-onds

(carats)

PST

1

0.82 526 5.34 305 125 58 23 12 1 1 1 6.50 2.22, 0.77, 0.17
PST

2

1.21 733 2.83 388 218 80 39 6 2 0 0 2.35 0.26, 0.18, 0.15
PST TOTAL 2.03 1,259 8.17 693 343 138 62 18 3 1 1 4.02

 

Chris Taylor, Dunnedin’s CEO said, “PST represents a high grade target with obvious capacity to host large and attractive diamonds.  It is a clear target for further exploration and bulk sampling, and is one of several drill confirmed diamond-bearing kimberlites within a 2 kilometre radius.  Once again, Dunnedin’s samples have returned higher than historic commercial-sized diamond grades.  At PST our final aggregate sample grade is 84% higher than what was historically reported.”

Historical bulk sample results from PST are presented in Table 2.  Historical and current samples were collected from the same sample site.

Table 2: Historically reported bulk sampling of the PST 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 3.35 4.75 Sample Grade

(cpt)

Largest Diam-onds

(carats)

PST

1

3.55 NA 11.29 NA NA 128 78 28 6 1 0 2.18 0.55, 0.29, 0.16

Most of the PST diamonds recovered by Dunnedin are clear and colourless variants of octahedra. No historical or current resource numbers are available for PST, however recent interpretive work by Dunnedin suggests it has a potential strike length of up to 2.5 kilometres based on historical drilling and geophysical surveys.

Figure 1:  All diamonds recovered from the 1.17 to 2.36 mm commercial-size fraction of sample PST 2

 

 

 

 

 

 

In 2016, Dunnedin determined that the PST, Notch and other kimberlites have intruded a gold-mineralized metasediment belt that has yielded gold in drill core, and pristine, locally sourced gold grains in tills.  Some of the highest gold-in-till values observed through Dunnedin’s work come from the immediate vicinity of PST, with gold mineralization also noted in outcrop and boulders within 200 m of the kimberlite.

 

About the PST Kimberlite

 

  • Near vertical high grade kimberlite dike that is exposed at surface
  • Historical and current samples were taken at the same locations or within metres of each other
  • Drilling is limited to 200 metres of strike and to a maximum depth of approximately 50 metres; remains open along strike and at depth
  • Extends north under thin gravel cover, however diamondiferous kimberlite was drilled 1.2 km away directly along strike, coincident with magnetic and resistivity signatures that suggest potential continuity of up to 2.5 km
  • Insufficient exposure and drilling to define width; more work is required
  • One of several diamondiferous kimberlites discovered thus far within a 2 km radius, including Notch, Killiq and 07-KD-24. The latter is notable for having historically recovered 305 diamonds including 7 macrodiamonds (+0.85 mm) from a 2.2 kg (0.0022 tonne) drill core sample

 

The PST 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.

 

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 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).

 

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.

Share this
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.

Share this
01 May 2017

Dunnedin Earns 100 Percent of Kahuna Project And Progresses Spin-Out

May 1, 2017 – Vancouver, BC, Canada. – Dunnedin Ventures Inc. (the “Company” or “Dunnedin”) (TSX-V: DVI) today reported it has entered into a Letter Agreement (the “Agreement”) whereby it will accelerate its Option Agreement (the “Option”) payments and receive a 100% undivided interest in the Kahuna project, Nunavut.

 

Under the terms of the Agreement, Dunnedin will earn a 100% interest in the Kahuna project and in return pay the Kahuna project vendors Gary R. Thompson and Sorin Posescu (the “Vendors”) the remaining cash and shares required under the underlying Option.  The Company will pay $350,000 and issue 4,400,000 common shares of the Company as follows:

 

  • $100,000 upon signing

 

  • 4,400,000 common shares upon signing, and

 

  • $250,000 upon completion of its next financing

 

Having signed the Agreement Dunnedin will now proceed with its intention to spin out its 100% owned Trapper gold-copper property located in the Sutlahine area of Northern British Columbia, along with rights to gold mineralization at its Kahuna diamond project, located in Nunavut.  The project and rights will be spun out into a wholly-owned subsidiary (“SpinCo”), pursuant to a Plan of Arrangement (the “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.  The date of record for the Arrangement will be announced imminently.

The Plan of Arrangement is subject to TSX Venture Exchange, regulatory and court approval, and the approval of the Company’s shareholders at an annual general and special meeting to be held as soon as is practical.  Pursuant to the arrangement, the common shares of SpinCo will be distributed to shareholders of the Company on a pro rata basis.  The Company intends to apply for a listing of the shares of SpinCo on the TSX Venture Exchange.  Any such listing will be subject to SpinCo fulfilling all of the requirements of the TSX Venture Exchange.  There will be no change in shareholders’ holdings in Dunnedin as a result of the Arrangement.

The Kahuna project Vendors will retain Gross Overriding royalties on diamonds and Net Smelter Royalties on gold and other metals as per the underlying Option.

 

Exploration Update

 

The Company has received and is reviewing final diamond recovery results from its sampling of the PST kimberlite, which will be released upon completion of the QAQC review as soon as possible.  Diamond indicator mineral results are also expected during May from the first prioritized till samples collected in 2016 across the Kahuna project.  Further diamond indicator mineral results and gold results from till sampling will follow.

 

Results will guide the upcoming summer exploration program, which will include in-field follow-up on high priority diamond indicator mineral sources, drilling of these targets, sample site preparation in advance of bulk sampling of diamondiferous kimberlites, and follow-up on recently identified gold mineralization in bedrock and tills in advance of drilling.

 

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 and also hosts gold mineralization in metasediment units.

 

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.

Share this
04 Aug 2016

Dunnedin Adds Strategic Advisors and Announces Private Placement

August 4, 2016 – Vancouver, BC, Canada. – Dunnedin Ventures Inc. (the “Company” or “Dunnedin”) (TSX-V: DVI) is pleased to announce the appointment of Mr. John Robins, P.Geo., and Mr. Jim Paterson as Strategic Advisors to the Company.  The Company also announces a CDN$1.3 million non-brokered private placement.

Chris Taylor, Dunnedin’s CEO said, “We are thrilled to welcome Mr. Robins and Mr. Paterson as Advisors.  Hunter Exploration Group, a private company co-founded by Mr. Robins, was the original mineral tenure holder at the Kahuna project during the early 2000’s, when over thirty million dollars in exploration were undertaken in the area.  Mr. Robins’ history with the project and access to a proprietary database of historic results give him a unique perspective on the full potential of the property.”

Mr. Robins stated, “We are excited by the opportunity to get back to work in this area of exceptional discovery potential.  Our previous work resulted in the discovery of diamond-bearing kimberlites, however additional high quality diamond indicator mineral trains remain unresolved, including new targets identified by Dunnedin.  In addition, several gold-in-till anomalies were also identified.  Given the proximity to Agnico Eagle’s three million ounce Meliadine gold deposit, both the gold and diamond potential of this project cannot be overlooked.”

Mr. Robins is a Professional Geologist with over 30 years’ experience in the mining industry, and recently oversaw the successful sale of Kaminak Gold Corp. as that company’s Executive Chairman.  Kaminak was acquired by Goldcorp Inc. in July 2016 for in excess of $500 million.  He remains a director of Kivalliq Energy Corp., Northern Empire Resources Corp., and West Melville Minerals Inc., and is also a Strategic Advisor to Great Bear Resources Ltd.  He has been a driving force within the Vancouver mining sector as co-founder of Hunter Exploration, Stornoway Diamond Corp., Kivalliq Energy Corp., North Country Gold Corp. and Kaminak Gold Corp. Mr. Robins was also involved in the successful sale/merger of several public companies including Grayd Resources Corp. (Agnico Eagle), Troon Resources (Grenville Strategic Royalty), Arauco Minerals (Kinross), Creston Moly Corp. (Mercator) and Northair Silver Corp. (Kootenay Silver).

Mr. Paterson is a director and CEO of Kivalliq Energy Corp., which is actively exploring the Angilak uranium project in the same region of Nunavut as the Kahuna project, and until recently served as director of Kaminak Gold Corp.  Mr. Paterson is also a director of Northern Empire Resources Corp. and a Strategic Advisor to Great Bear Resources Ltd.  Mr. Paterson has 19 years of corporate experience with North American publicly traded companies, participating in acquisitions, joint-ventures, spin-outs, reverse transactions and IPO’s. Since January 2010, Mr. Paterson has been involved as an executive or as an active director of companies which have raised in excess of $175 million in equity financings.

Private Placement

Dunnedin also announces that, subject to regulatory approval, it will undertake a non-brokered private placement.  Each unit will be issued at a price of $0.10 and will consist of one common share and one common share purchase warrant entitling the holder to acquire one additional common share at a price $0.15 per share for a period of twenty-four (24) months.  The common share purchase warrants will be subject to acceleration at the Company’s discretion in the event the Company’s common shares trade on a volume weighted average price (VWAP) basis of $0.25 or more for a period of ten consecutive trading days.  The Company will issue up to 13,000,000 units for gross proceeds of up to $1,300,000. Finder’s fees may be paid in accordance with Exchange regulations.  Insiders may participate for a portion of the placement.  Proceeds will be used to advance the Company’s Kahuna project, and for general working capital purposes.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

The Company has also granted an aggregate of 200,000 stock options to directors of the Company, exercisable at $0.15 per share for a period of five years.

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.

 

Share this

© 2017 Dunnedin Ventures Inc.. All rights reserved.

Click Me