14 Dec

Dunnedin Purchases Extensive Diamond and Gold Data Set for Kahuna

December 14, 2016 – Vancouver, BC, Canada.Dunnedin Ventures Inc. (the “Company” or “Dunnedin”) (TSX-V: DVI) today announced it has agreed to purchase a comprehensive proprietary data set consisting of historic diamond and gold exploration results from the Kahuna project, Nunavut.

The data set compiles approximately $25,000,000 of historical spending in the project area undertaken by multiple exploration groups and is being purchased from a private vendor.  Included are gold-in-till results from land recently staked by Dunnedin immediately adjacent to Agnico Eagle Mines Ltd.’s (TSE: AEM) Meliadine project, the results of which are now being analyzed by the Company.  The data also includes more than 10,000 microprobe analyzed kimberlite indicator mineral results, various geophysical survey results covering several hundred square kilometres, multi-element geochemistry from diamond and gold exploration, and drill logs from past diamond and gold exploration.

“We expect this data to materially aid the Company’s 2017 exploration program at our recently expanded Kahuna project,” said Chris Taylor, Dunnedin’s CEO. “The information will significantly reduce both time and money spent on exploration, and most importantly, increase our potential for making additional discoveries in an area that uniquely hosts both diamonds and gold.”

About the Kahuna Project

Dunnedin Ventures’ primary asset is the 1,200 square kilometre Kahuna project, an advanced stage high grade diamond and gold property located near Rankin Inlet, Nunavut, where Dunnedin is earning a 100% interest.  The Company anticipates beginning a drilling and bulk sampling program in 2017 that will test potential extensions to its existing Inferred Resources of over 4 million carats of diamonds (see Dunnedin news release of January 26, 2015), assemble a valuation parcel of approximately 1,000 carats of commercial-sized diamonds, and test a number of newly defined high priority kimberlite targets that may host additional diamond sources.

The Kahuna project is located adjacent to Agnico Eagle’s Meliadine gold project and the Peter Lake gold project of NxGold Ltd. (TSX-V: NXN).  Gold results at Kahuna include visible gold in drill core, gold mineralization in the strike extension of the Meliadine host stratigraphy, and new gold-in-till targets proximal to diamond-bearing kimberlites. Agnico’s Meliadine project 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).

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

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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07 Dec

Dunnedin Doubles Area of Kahuna Project

December 7, 2016 – Vancouver, BC, Canada. – Dunnedin Ventures Inc. (the “Company” or “Dunnedin”) (TSX-V: DVI) today announced it has increased the size of the Kahuna diamond project by staking an additional 59 claims totaling 66,047 hectares.  The project is now approximately 120,000 hectares (1,200 square kilometres) in size.  The Kahuna project now consists of:

  • Over 100 interpreted kimberlite pipe targets, 50 of which are currently being screened for down-ice diamond indicator mineral (“DIM”) chemistry from till sampling;
  • Over 200 kilometres of aggregate strike length of a kimberlite-intruded structural network including 10 drill-proven diamond bearing kimberlite dikes with sample grades ranging from 0.66 to 6.5 carats (+0.85 mm) per tonne, and;
  • Five confirmed gold-bearing metasediment belts with approximately 190 kilometres of aggregate strike length, including drill-confirmed gold in an extension of the Aqpik and Aklak host stratigraphy held by Agnico Eagle Mines Ltd. (TSE: AEM, “Agnico”) on the Meliadine property.

The Company notes an increasing level of exploration and development activity in the Kahuna and Meliadine project area, with Agnico recently entering into mineral exploration agreements extending their land position into areas of Inuit-owned subsurface rights adjacent to Dunnedin’s claims.  Most recently, NxGold Ltd. (TSX-V: NXN, “NxGold”) announced a $35+ million earn-in deal for a 70% interest in a 8,473 hectare (85 square kilometre) land package adjacent to the Meliadine claims.  An updated claims map is provided below in Figure 1.

As previously announced (see Dunnedin news release of November 23, 2016), Dunnedin intends to undertake a plan of arrangement to spin out its gold and copper assets, consisting of the gold rights at the Kahuna project in Nunavut and its Trapper copper-gold porphyry property in British Columbia.  Further information including a date of record will be provided when details are available.

About the Kahuna Project

Kahuna is an advanced stage high grade diamond project located near Rankin Inlet, Nunavut, where Dunnedin is earning a 100% interest.  Dunnedin is recovering diamonds and indicator minerals from a series of kimberlite and till samples collected in summer 2015, and has completed a 1,100 till sample program in summer 2016.  The Company anticipates beginning a drilling and bulk sampling program in 2017 that will test potential extensions to recently published Inferred Resources, assemble a valuation parcel of approximately 1,000 carats of commercial-sized diamonds, and test a number of newly defined high priority kimberlite targets that have yielded populations of diamond indicator minerals.

Kahuna project land position December 2016 showing gold zones on adjacent claims and drill-confirmed diamond bearing kimberlites at Kahuna.

Figure 1: Kahuna project land position December 2016 showing gold zones on adjacent claims and drill-confirmed diamond bearing kimberlites at Kahuna.

An Inferred Resource released by Dunnedin (see Dunnedin news release of January 26, 2015) identified over 4 million carats of macrodiamonds (+0.85 mm) at a grade of 1.01 carats per tonne 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 which was part 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. and has also yielded gold results, including visible gold in drill core, gold mineralization in the strike extension of the Meliadine host stratigraphy, and new gold-in-till targets proximal to diamond-bearing kimberlites. Agnico’s Meliadine project 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).

On December 6, 2016, the Company granted 150,000 Options to a Consultant of the Company.  The Options are exercisable at a price of $0.195 per share for a period of two years from the date of grant. The Options were granted pursuant to the Company’s shareholder-approved stock option plan and are subject to the policies of the TSX Venture Exchange and any applicable regulatory hold periods.

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

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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23 Nov

Dunnedin Announces Warrant Accelleration Program and Intention to Spin Out Gold and Copper Assets

November 23, 2016 – Vancouver, BC, Canada. – Dunnedin Ventures Inc. (the “Company” or “Dunnedin”) (TSX-V: DVI) announces:

  • The intention to undertake a statutory plan of arrangement, pursuant to which the Company will spin-out its existing gold and copper assets into a new subsidiary and distribute the shares of the subsidiary pro rata to the shareholders of the Company.
  • The acceleration of the expiry of 6,078,000 common share purchase warrants and 249,076 finders’ warrants issued on February 9, 2016, and exercisable at price of $0.10 per common share. The expiry date is accelerated to Friday, December 23, 2016.  Assuming all of the warrants are exercised, the Company will receive gross proceeds of approximately $632,708.

Additional details of the proposed transactions are provided below.

“Dunnedin management is confident that the diamond assets at Kahuna will create significant value for shareholders,” said Chris Taylor, Chief Executive Officer of Dunnedin, “However, there is additional  untapped value in gold and copper within the Company that we can unlock with a spin out.

“The recent identification of widespread gold mineralization at Kahuna, contiguous with Agnico Eagle Mines Ltd.’s (TSE: AEM) Meliadine project, plus excellent gold-copper porphyry results at our 100% owned Trapper project, warrant an additional focus on these metals.  We believe that separate corporate vehicles for diamond and metal assets will yield the best long-term value to shareholders.”

Intention to Undertake a Plan of Arrangement

The Company intends 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, 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 Arrangement will be subject to TSX Venture Exchange, regulatory and court approval, the approval of the Company’s shareholders at an annual general and special meeting to be held in early 2017, as well as at management’s continued discretion.  Pursuant to the arrangement, all of 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.  Additional details regarding the Arrangement, as a well as the proposed record date, will be provided as they become available.

Acceleration of Warrant Expiry

The Company also hereby gives notice that it has triggered the accelerated expiry of 6,078,000 common share purchase warrants and 249,076 finders’ warrants issued in connection with a private placement closed on February 9, 2016.  Each warrant and finders warrant is exercisable at a price of $0.10 per common share for a period of two years.  Pursuant to the warrant terms, the expiry date is now accelerated to Friday, December 23, 2016.  Any remaining unexercised warrants will be cancelled after the accelerated expiry date.  Assuming that all the warrants are exercised, the Company will receive proceeds of approximately $632,708 and will issue 6,327,076 common shares.

About Dunnedin Ventures

Dunnedin Ventures’ primary asset is the Kahuna project, an advanced stage high grade diamond property located near Rankin Inlet, Nunavut, where Dunnedin is earning a 100% interest.  Dunnedin is recovering diamonds and indicator minerals from a series of kimberlite and till samples collected in summer 2015, and has completed a 1100 till sample program in summer 2016.  The Company anticipates beginning a drilling and bulk sampling program in 2017 that will test potential extensions to recently published Inferred Resources, assemble a valuation parcel of approximately 1000 carats of commercial-sized diamonds, and test a number of newly defined high priority kimberlite targets that have yielded attractive populations of diamond indicator minerals.

An Inferred Resource released by Dunnedin (see Dunnedin news release of January 26, 2015) 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 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. and has also yielded gold results, including visible gold in drill core, gold mineralization in the strike extension of the Meliadine host stratigraphy, and new gold-in-till targets proximal to diamond-bearing kimberlites.

Dunnedin’s second asset is its 100% owned Trapper project located in the Sutlahine area of northern British Columbia.  The property consists of a 40 square kilometre land package adjacent to Brixton Metals Corp.’s (TSX-V: BBB) Thorn property and overlying a copper-gold porphyry system.  A 42 hole reconnaissance drill program completed in 2011 intersected a gold-rich polymetallic semi massive sulphide stockwork across 2.2 kilometres of strike that remains open to extension, surrounding an interpreted copper porphyry centre of over 6 kilometres in diameter.  Drill results included visible gold flanking copper porphyry in drill core returning 34.11 m of 1.71 g/t gold.  Undrilled surface copper porphyry zones have also been mapped and sampled, returning up to 0.57% copper in bedrock and 2.5% copper in float.

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

 

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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26 Oct

Dunnedin Begins Strategic Review Of 100% Owned Trapper Gold Copper Project

October 26, 2016 – Vancouver, BC, Canada. – Dunnedin Ventures Inc. (the “Company” or “Dunnedin”) (TSX-V: DVI) today announced it has initiated a technical and strategic review of the Company’s 100% owned Trapper project located in the Sutlahine area of northern British Columbia.  Highlights include:

 

  • 100% owned by Dunnedin covering a gold-rich copper porphyry complex
  • 40 square kilometre land package adjacent to Brixton Metals Corp.’s (TSX-V: BBB, “Brixton”) Thorn property
  • Circular mineralized “Ring Zone” with over 10 kilometres of strike surrounding a porphyry centre, with gold-rich polymetallic mineralization drilled across 2.2 kilometres, and associated surface copper porphyry showings
  • Reconnaissance 42 drill hole, 8580 metre program completed in 2011 includes visible gold flanking copper porphyry in drill core, including 34.11 m of 1.71 g/t gold

 

Table 1: Highlighted drill results from gold-rich semi massive sulphide stockwork Ring Zone


Drill Hole
From (m) To

(m)

Width* (m) Au (g/t) Ag (g/t) Pb (%) Zn (%)
TG-11-001 37.50 38.52 1.02 2.04 20.1 0.80 0.34
TG-11-004 105.41 117.00 11.59 1.18 3.0 0.06 0.11
TG-11-005 36.15 38.08 1.93 4.23 20.6 0.50 0.22
TG-11-006 27.74 37.86 10.12 1.09 2.8 0.07 0.05
TG-11-011 106.89 141.00 34.11 1.71 5.6 1.01 0.25
including 106.89 107.30 0.41 92.80 18.8 0.13 0.12
including 114.65 118.04 3.39 3.90 27.0 9.11 0.91
TG-11-013 250.03 255.03 5.00 1.39 8.5 0.39 0.31
TG-11-014 196.35 206.35 10.00 1.08 5.3 0.24 0.26
TG-11-018 88.00 93.00 5.00 1.78 19.7 0.70 0.58
TG-11-020 5.00 7.50 2.50 4.13 16.8 0.41 0.47
TG-11-038 122.50 137.50 15.00 1.68 1.8 0.02 0.07
including 132.50 136.73 4.23 5.08 4.4 0.05 0.13
and including 136.11 136.73 0.62 21.80 11.9 0.15 0.36
TG-11-039 67.50 97.50 30.00 1.01 2.3 0.02 0.13
including 70.00 72.50 2.50 2.19 2.7 0.06 0.30
including 77.50 80.00 2.50 2.98 4.0 0.04 0.09
including 82.66 85.00 2.34 2.64 2.5 0.00 0.35
TG-11-040 132.50 160.00 27.50 1.19 1.8 0.01 0.07
137.50 140.00 2.50 11.15 5.7 0.03 0.17

* Width represents core length and is not intended to reflect true width.

“The Trapper project has seen $4 million of exploration work, which generated excellent gold drill results and surface copper porphyry showings, but is outside of our primary focus on diamond exploration at the Kahuna project in Nunavut,” said Chris Taylor, Dunnedin’s CEO, “The property overlies an unusually gold-rich porphyry copper complex including drill-ready copper porphyry and gold-rich semi-massive sulphide stockwork.  Dunnedin is conducting a comprehensive review of this 100% owned project to determine how best to unlock its value for shareholders.”

 

Figure 1: Trapper property location map

The Ring Zone has been mapped as the sulfide mineralized halo to a gold-rich copper porphyry intrusion that has been intersected in drill core.  The zone has a diameter of over 6 kilometres and displays sulphide mineralization, hydrothermal brecciation and porphyry style alteration along its approximately 15 kilometre circumference, 10 kilometres of which are on the Trapper property.  The interpreted centre of the porphyry complex is entirely overlain by the Trapper claims.

Highlights of Ring Zone drill results from the 42 hole, 8580 metre program completed in 2011 (see news release of November 30, 2011, from Dunnedin’s predecessor company Ocean Park Ventures Corp.) are provided in Table 1 and Figure 2.  Drilling across 2.2 kilometres intersected a semi-massive sulphide stockwork and hydrothermal breccia trend that returned strong gold mineralization including high grade visible gold flanking copper-mineralized porphyry.

Two copper porphyry centres have been mapped as flanking the Ring Zone but remain undrilled. Grab samples returning up to 0.57% copper in bedrock and 2.5% copper in float have been collected from these targets including both bornite-chalcopyrite copper sulphide mineralization, and azurite-malachite copper oxide mineralization.

Figure 2: Highlighted 2011 drill and grab sample results from the Ring Zone

trapper-map-20161025

 

As part of its strategic review, the Company completed a 60 sample heavy mineral orientation survey at Trapper in October 2016 designed to analyze zonation of alteration and sulphide mineralization at various locations across the porphyry system.  Results will allow mapping of precious to base metal ratios across the project together with gold grain counts in order to prioritize areas for future work and to assist with three dimensional system-scale modeling of geology and mineralization.

Mr. R. Bob Singh, P.Geo., Exploration Manager, is the qualified person responsible for the technical content of this news release.

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

On behalf of the Board of Directors

Dunnedin Ventures Inc.

 

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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17 Oct

Gold and Diamonds At The Kahuna Project

 

October 17, 2016 – Vancouver, BC, Canada. – Dunnedin Ventures Inc. (the “Company” or “Dunnedin”) (TSX-V: DVI) today reports gold-in-till results from its 2015 diamond exploration program, and provides a compilation of historical gold exploration results at the Kahuna project, Nunavut.

 

“While Dunnedin will remain focused on advancing our compelling diamond assets at Kahuna, we have also identified widespread gold mineralization,” said Chris Taylor, Dunnedin’s CEO, “This is not surprising given the proximity to the Meliadine project of Agnico Eagle Mines Ltd. and the geology shared by both properties.  The identification of gold proximal to our diamond resources and adjacent to one of Canada’s best new development stage gold mines could yield unique synergies between diamond and gold exploration at Kahuna.”

 

Highlights of results include:

 

  • Gold results in tills, bedrock and historical drill core define multiple targets across the property.

 

  • Gold was found through neutron activation analysis of heavy mineral concentrates in 84 of 129 (65%) till samples collected by Dunnedin in 2015.

 

  • Mineral concentrates that returned gold values were confirmed to contain coarse gold grains. Grains were evaluated for transport characteristics, and have fragile textures suggesting local bedrock sources.

 

  • Metasediment belts including that hosting gold at Meliadine have been repeated through regional folding and on-strike extensions at Kahuna, where they also host gold.

 

  • 97 mineralized historical grab samples returning between 0.05 g/t and 2.52 g/t gold were collected across four metasediment and structural zones.

 

  • Historical drilling targeting kimberlite encountered visible gold returning 7.24 g/t gold over 0.68 m along the strike extension of Agnico’s Aklak and Aquik Gold Zones of the adjacent Meliadine property; host rock was mineralized banded iron formation of similar type to that observed at Meliadine.

 

  • One area of strong gold-in-till concentration occurs at the 10 km2 hinge domain of a previously un-tested folded metasediment belt where a number of diamond-bearing kimberlites including PST, Notch and 07KD-24 are also located, suggesting proximal bedrock sources of gold and diamonds.

 

Figure 1: Gold-in-till results showing diamond-bearing kimberlite bulk sample locations and the locations of gold mineralized zones at Meliadine.

Figure 1: Gold-in-till results showing diamond-bearing kimberlite bulk sample locations and the locations of gold mineralized zones at Meliadine.

Gold-in-till results are provided in Figure 1.  Dunnedin submitted heavy mineral concentrates from its 2015 till survey to Activation Laboratories Ltd. (“ActLabs”) of Ancaster, Ontario, for neutron activation testing, an assay technique that preserves the mineral samples.  129 samples were sent for analysis, of which 84 (65%) returned  greater than 50 ppb gold and are considered anomalous, and 12 samples (9%) returned greater than 1000 ppb gold with a high of 5930 ppb gold.   Table 1 includes a description of coarse gold grains identified to date from these samples.  Gold grain recovery is ongoing, and additional grains are expected to be recovered once mineral concentrates are returned from ActLabs and can also be screened.

 

The identification of gold at the hinge of a folded metasediment belt suggests structurally-controlled gold mineralization similar in style to many Archean sediment/greenstone hosted gold deposits such as Meliadine (NU), Lupin (NU), and Musslewhite (ON) may also be present at Kahuna.  This hinge domain also hosts several known diamond-bearing kimberlites including those from which diamond recoveries have recently been reported (see Dunnedin news releases of November 12, 2015 and September 6, 2016).  Of note, diamond indicator mineral results from these same till samples also point to potential extensions to known kimberlites, and additional kimberlite pipe and dike targets that are prospective for diamonds (see Dunnedin news release of July 25, 2016).

 

Table 1:  Description of gold grains recovered to date with neutron activation sample grade provided

Sample Au (ppb) # Gold Grains Description
1751334 950 1 Overall the grain exhibits some fragile features, is ranked between modified and reshaped
1751344 1680 2 Features suggest derivation from a primary source, overall the grain is not proximal, but not greatly reshaped.
1751319 1280 1 Solid surface texture with euhedral inclusion that appears to be a primary mineral intergrown with the gold. Texture and shape suggest modified to pristine, a proximal gold grain.
1751344 1680 2 Somewhat spongy texture but with blocky features , suggesting a pristine to modified ranking.

 

The folded metasediment belt associated with this gold has a geophysically interpreted strike length of 16 kilometres.  The interpreted source area covers approximately 4.3 kilometres of strike, corresponding to the folded hinge of the belt, while the remaining 11.7 kilometres of the prospective formation was staked by Dunnedin earlier in 2016.  First pass wide spaced till sampling has already been completed on the strike extension of this belt during Dunnedin’s recent 1,111 sample 2016 till program.

 

Historic Gold Results (2005 – 2009)

 

Historic results retrieved from publicly available data include gold analysis for 338 till samples, 97 rock samples and re-sampling of 10 drill holes.  Drill holes were originally completed to explore kimberlite targets.  Gold encountered in this drilling was incidental, and assays for gold were collected sporadically.  Nonetheless, gold was reported in six drill holes as shown in Table 2.

 

Table 2: Historic gold results from diamond exploration drill holes

Hole Number From (m) To

(m)

Width (m)* Au

(g/t)

04KD479-01 44.45 45.10 0.65 2.52
06KCF-01a 29.00 30.21 1.21 4.22
06KCF-01a including 29.52 30.21 0.69 7.24
04KD479-01 20.80 21.10 0.30 2.04
06KCF-01a 26.30 27.05 0.75 0.17
06KCF-01a and 32.24 33.24 1.00 0.24
06KD467-02 32.00 32.62 0.62 0.26
06KD467-02 and 43.60 44.47 0.87 0.50
05KD6001-01 19.00 23.30 4.30 0.19

*width of the sample represents core length and not true width.  Historical drill hole results were obtained from various SEDAR filings of news releases and reports by past explorers including the Hunter Exploration Group. 

97 rock samples collected across the property returned between 0.05 and 2.52 g/t gold.  Gold is associated with magnetically responsive formations that have been mapped as metasediment belts and regionally significant, deep seated shear zones.  Historic tills yielded anomalous gold values down-ice from gold-in-bedrock mineralization as confirmed through later sampling and drilling.  The aggregate strike length of these gold-hosting formations is approximately 80 kilometres on the Kahuna claims.

 

Other Updates

 

The Company also reports that in recent discussions with local government in both Rankin Inlet and Chesterfield Inlet, plans were provided to Dunnedin for an all season access trail that is currently under construction by local authorities from Chesterfield Inlet to within a few kilometres of the Kahuna kimberlite, where Dunnedin has published an Inferred diamond Resource (see Dunnedin news release of January 26, 2015).  Approximately 35 kilometres of trail have been completed to date, with full completion expected by approximately 2020.  Dunnedin has pledged $25,000 to the Chesterfield Inlet town council towards transport of a bridge span from Rankin Inlet to Chesterfield Inlet during winter 2016 which will complete a crossing on the trail.

 

Long-term plans were also provided to the Company of a proposed route connecting the current all-season Meliadine mine access road to the trail under construction from Chesterfield Inlet.  The proposed route would connect the two communities, and would pass within a few kilometres of most known kimberlite occurrences at the Kahuna project.

 

The Company also wishes to announce the addition of Mr. Sorin Posescu, P.Geo, to its board of directors.  Mr. Posescu, an exploration geologist with over 20 years of experience across North America and Europe, is one of the underlying vendors of the Kahuna project.  Mr. Posescu is an expert in geological modeling and precious metals exploration, with a strong background in strategic corporate development and property assessment.  Mr. Posescu is also Vice President, Exploration of Brixton Metals Corp. (TSX-V: BBB).

 

Note on Meliadine

 

Agnico’s Meliadine project 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).

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, or 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, where Dunnedin is earning a 100% interest.  Dunnedin is recovering diamonds and indicator minerals from a series of kimberlite and till samples collected in summer 2015, and has completed a 1100 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. and has also yielded gold results, including visible gold in drill core, gold mineralization in the strike extension of the Meliadine host stratigraphy, and new gold-in-till targets proximal to diamond-bearing kimberlites.

 

Note on Gold-in-Till Results

 

Till sampling completed at Meliadine by the Geological Survey of Canada studied gold-in-till results across the Meliadine Trend.  Results from the GSC’s neutron activation assays of heavy mineral concentrates from Meliadine are provided in Figure 1.  Pristine to dominantly re-shaped gold grains occur proximal to the known gold zones, and the up-ice termination of gold-in-till trains and bedrock gold sources are highly correlated.  The report concludes “Basal Till over much of the Meliadine Trend is an appropriate sampling medium for gold prospecting.  Till is abundant and locally derived and its provenance reflects a clear southeasterly direction of glacial transport”.  As the Kahuna project is immediately adjacent to Meliadine, use of till sampling to track gold-in-bedrock sources is expected to be similarly effective.

 

The heavy mineral recovery circuit employed by Dunnedin was designed for diamond indicator mineral recoveries and only recovers coarse gold with a diameter exceeding 0.425 mm.  Most gold-in-till exploration programs also recover much smaller gold grains (down to 0.001 mm; 425 times smaller than the smallest grains recovered by Dunnedin).  For example, reports by the GSC at Meliadine determined 92% of recovered gold grains were less than 0.006 mm in diameter, and would not have been recovered by Dunnedin.  As such, Dunnedin’s grain counts from the 2015 till sampling program are expected to be proportionately lower, however the coarser gold that is recovered is anticipated to be more reflective of proximal bedrock source and provides a valuable exploration tool.

 

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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04 Oct

Dunnedin Concludes 2016 Field Program at Kahuna Diamond Project

October 4, 2016 – Vancouver, BC, Canada. – Dunnedin Ventures Inc. (the “Company” or “Dunnedin”) (TSX-V: DVI) today announced the conclusion of its summer 2016 field investigation program at its Kahuna project, located near Rankin Inlet, Nunavut.

 

“Our 2016 field program collected 1,111 till samples across the Kahuna property, approximately ten times the number of samples collected during Dunnedin’s 2015 program,” said Chris Taylor, Dunnedin’s CEO. “Last year’s program effectively identified several new potentially diamond-bearing kimberlite pipe and dike targets.  The much larger 2016 program was implemented to expand upon existing diamond indicator mineral trains, and to identify additional prospective diamond sources through testing the down-ice mineral signatures of geophysically interpreted kimberlite pipes and dikes across the property.”

Dunnedin’s 2016 program will employ till sampling and mineral ranking techniques pioneered by its advisor Dr. Charles Fipke and originally applied at Ekati, which can predict the potential of kimberlites to host diamonds with a high degree of confidence.  The ranking employs proprietary mineral chemistry filters developed at CF Mineral Research Ltd. (“CFM”) under the direction of Dr. Fipke.  Information on the sampling and ranking protocols are provided on Dunnedin’s web site at www.dunnedinventures.com.

 

The Company is currently completing diamond recoveries from the PST and Kahuna kimberlites sampled in 2015, along with processing of the 2015 till samples for potential gold content.  Results will be issued as received.  It is anticipated that processing of the 2016 till samples will be completed in time to guide the upcoming winter program in 2016 – 2017.

 

The Company also announces that due to the strength of its 2015 results it has staked an additional 21 claims totaling approximately 25,000 hectares to control additional prospective geology at the Kahuna project.  The Kahuna project now comprises approximately 60,000 hectares.  Dunnedin’s claims now come to within approximately 10 kilometres of the Meliadine mine development site, which is currently under construction by Agnico Eagle Mines Ltd.

 

Investor Relations

 

The Company also wishes to announce it has entered into a consulting agreement with Knox Communications Inc. (“KCI”) dated October 1, 2016.  Pursuant to the terms of the Agreement, KCI has agreed to provide investor relations services to the Company for consideration of $3,000 per month and the grant of stock options to purchase up to 150,000 common shares of the Company at an exercise price of $0.19 per share, subject to vesting according to the Company’s stock option plan.

 

Headed by Knox Henderson, KCI will assist the Company in strategic marketing and communications.  Mr. Henderson brings more than 15 years’ experience in investor relations and corporate communications for publicly listed companies.  He has provided marketing services for financings exceeding $100 million in aggregate value for Toronto Venture Exchange listed resource companies, from early exploration through to prefeasibility stage.  The agreement and the grant of stock options are subject to Exchange approval.

 

About the Kahuna Project

 

Kahuna is an advanced stage high grade diamond project located near Rankin Inlet, Nunavut.  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.

 

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, or Mr. Knox Henderson, Investor Relations at 604-551-2360.

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

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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31 Aug

Dunnedin Begins Field Program at Kahuna and Provides Permitting Update

Dunnedin Ventures Inc. (the “Company” or “Dunnedin”) (TSX-V: DVI) is pleased to announce the start of field investigations and to provide permitting updates for its Kahuna project, located near Rankin Inlet, Nunavut.  Field crews are currently collecting approximately 1,000 till samples across the Kahuna property.  This is ten times the number of samples collected during Dunnedin’s 2015 program, which successfully applied exploration and diamond indicator mineral classification techniques pioneered by Dunnedin’s advisor Dr. Chuck Fipke to define a number of new potentially diamond-bearing kimberlite targets.

Chris Taylor, Dunnedin’s CEO stated, “Our 2015 till program was a highly successful but focused orientation survey of only 118 samples.  That work identified several new targets consistent with our known diamond-bearing kimberlites, including both dike and pipe targets, and extensions to known diamond-bearing kimberlites.  We anticipate that this summer’s 1000 sample program will define additional targets and will allow us to accurately prioritize sites for upcoming drilling and bulk sampling.”

 

The 2016 field program has an estimated budget of $350,000, which is kept low by infrastructure and service advantages associated with the project’s location near both Rankin Inlet and Chesterfield Inlet.

 

The Company is currently completing diamond recoveries from the Notch, PST and Kahuna kimberlites sampled in 2015, along with processing of the 2015 till samples for potential gold content.  Results will be issued as received.  It is anticipated that processing of the 2016 till samples will be completed in time to guide the upcoming winter program in 2016 – 2017.

 

Permitting Update

 

The Company is also pleased to report that Indigenous and Northern Affairs Canada (INAC) has endorsed modification and resubmission of the Company’s multi-year exploration permit application to the Nunavut Impact Review Board (NIRB).  In a letter addressed to NIRB dated August 2016, INAC stated, “We are pleased to hear that Dunnedin Ventures Inc. has already taken steps to address the concerns raised by the Board in its Screening Decision Report, including engaging in community consultation activities, and that it plans to submit a revised Project proposal.”

 

In April 2016, NIRB recommended to INAC that the Company should either modify and resubmit, or alternatively abandon its multi-year exploration permit application, and provided a list of required steps to complete prior to resubmission.  INAC’s decision to support resubmission rather than abandonment streamlines the permitting process and allows the Company to focus on implementing NIRB’s suggestions within the framework of the existing application.  Dunnedin has recently completed all suggested steps, and plans to resubmit its application to the Nunavut Planning Commission over the coming weeks.  Current permits allow the Company to continue sampling work through 2017 – 2018.

 

A full version of INAC’s decision can be accessed at:

ftp://ftp.nirb.ca/01-SCREENINGS/COMPLETED%20SCREENINGS/2015/15EN028-Dunnedin%20Ventures%20Inc-Kahuna%20Project/03-DECISION/160815-15EN028-INAC%20Minister%20Response%20to%20NIRB%20Recommendation-IA1E.pdf

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.

 

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04 Aug

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.

 

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25 Jul

New Targets Identified At Kahuna

       New Targets Identified At Kahuna

 

July 25, 2016 – Vancouver, BC, Canada. – Dunnedin Ventures Inc. (the “Company” or “Dunnedin”) (TSX-V: DVI) is pleased to report the identification of new diamond-bearing kimberlite targets through till sampling at the Kahuna project. Till sampling results include identification of potential for:

  • Extensions to known diamond-bearing kimberlite dikes
  • New diamond-bearing kimberlite dike targets
  • New diamond-bearing kimberlite pipe targets
  • Diamond-bearing kimberlite sources in areas that historically produced nil results

 

Dunnedin’s CEO Chris Taylor said, “Using methods pioneered by our advisor Dr. Chuck Fipke and previously applied at Ekati, we have identified a number of new areas that are sourcing high quality diamond indicator minerals.  With the success of the 2015 test program, Dunnedin plans to expand its sampling over larger areas of the property to build, for the first time, an accurate picture of how many potential diamondiferous kimberlite sources are in fact present at Kahuna.”

 

2015 Till Sampling Program

In collaboration with its technical advisor Dr. Charles Fipke and director Mr. Chad Ulansky, the Company completed a glacial till orientation test sampling program in summer 2015, comprising 118 samples. Glacial till sampling recovers kimberlite indicator minerals (‘KIMs’) that were eroded from kimberlites by glaciers and deposited “down-ice”. This creates a train of positive till samples that can be tracked back to their original source.  It is used extensively in the Canadian Arctic as a primary exploration tool leading to most major diamond discoveries, one of the most famous examples of which is Ekati.

Dunnedin’s test program utilized the same sampling and mineral ranking techniques as applied at Ekati, which can predict the potential of kimberlites to host diamonds with a high degree of confidence. The ranking employs proprietary mineral chemistry filters developed at CF Mineral Research Ltd. (“CFM”) under the direction of Dr. Fipke.  Information on the sampling and ranking protocols are provided on Dunnedin’s web site at www.dunnedinventures.com.

2015 Till Results

Historically, eighteen kimberlite pipes were drill-confirmed at the Kahuna project, along with a large number of kimberlite dikes.  During 2015, Dunnedin ranked historical KIM data through the CFM filters, identifying 29 new target areas, of which ten were tested with new sampling.  All returned KIMs in tills down-ice from the targets, supporting the presence of kimberlite, while eight of the ten target areas contain Diamond Indicator Minerals (‘DIMs’).  DIMs have specific chemistry that is observed in mineral inclusions inside of diamonds, and their presence in tills is strongly diagnostic of the diamond-bearing potential of the source kimberlite and is therefore prioritized by the CFM filters.

Results of Dunnedin’s 2015 program include:

  • High DIM counts were confirmed in tills immediately down-ice from all tested diamond-bearing dikes including Kahuna, Notch and PST, confirming that diamond-bearing kimberlites are readily detectable using Dunnedin’s till sampling protocols.

 

  • Potential diamond-bearing kimberlite pipes were identified in three new locations where DIMs in tills are directly down-ice from geophysical targets defined by circular coincident magnetic responses and resistivity lows. This geophysical signature is consistent with pipes that were historically drilled elsewhere on the property; however the new targets are apparent DIMs sources while the historically drilled pipes were not.  Dunnedin will analyze all historical data to determine the actual number of potential pipes, and which of these should also be tested down-ice for DIMs.

 

  • Identification of apparent strike-length extensions to drilled diamond-bearing dikes, including Kahuna, Notch, PST and 07KD-24. Notably, 07KD-24 historically yielded an unprecedented 305 diamonds including seven commercial-sized diamonds (+0.85mm) from a drill core sample of 2.2 kilograms.  Very high DIM counts are present over 600 m of strike perpendicular to ice transport direction in the vicinity of 07KD-24, suggesting significant possible strike extent for this kimberlite.

 

  • Many areas of the project have yielded significant DIM counts where historic till sampling produced nil results. These positive results are believed to be due to the more effective sampling protocols introduced to Dunnedin by Dr. Fipke.

 

  • All 118 of the Company’s till samples contained KIMs, with 78 containing diamond indicator minerals. Dunnedin’s initial assessment based on geophysics, satellite imagery and past drilling that a dense kimberlite-intruded structural network is present on the project with over 180 kilometers of aggregate strike is also supported by the widespread KIM and DIM results (see Dunnedin news release of June 29, 2015).

 

A property-scale map of target areas and DIM counts is presented below, along with a summary table of results.  Maps of each new target area will be posted to the Company’s web site along with detailed DIM results.

Given the success of the pilot-scale till sampling program, the Company’s advisor Dr. Fipke has suggested a property-scale program should now be undertaken in order to identify all potential diamond sources.  The broader till sampling program is slated to begin in August 2016 and will progress in stages contingent upon results.

Mr. R. Bob Singh, P.Geo, Exploration Manager for Dunnedin, is the qualified person responsible for the technical content of this news release.

 

Figure 1: Map of new DIM sources showing DIM counts for each target.

table 1 target description

Table 1: New target descriptions as shown on Figure 1.


Target
Target Type DIM Results
B7 Pipe;

Interpreted pipe cluster

10 Samples collected, 4 samples returned DIMs
B1 Pipe and Dike;

Interpreted string of several pipes, 2 of which are drill confirmed, plus dikes

8 Samples collected, all 8 returned DIMs defining two distinct pipe targets  (B1 and B1a).  Several dikes are also interpreted to cross the area.  DIMs could be sourced by either or both target types
A1 Dike;

Up-ice from PST

One sample collected and returned DIMs defining a new dike target
B8 Pipe;

Known pipe cluster,

6 of which are drill confirmed

4 samples were collected, all returning DIMs down-ice from an untested pipe-type target; historic drilling tested pipes within the down-ice dispersion train from this source
B6 Pipe;

Interpreted pipe no drilling in area

4 samples collected, 3 returned DIMs

 

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 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 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).

While the till sampling and KIM chemical filters applied by Dr. Fipke have historically been very successful at discovering and ranking diamondiferous kimberlites, and have also successfully identified the known diamond-bearing kimberlites at Kahuna, assessing the commercial diamond potential of any new discovery also requires drill delineation, bulk sampling and diamond valuation.

On behalf of the Board of Directors,

Chris Taylor

Dunnedin Ventures, CEO

 

For further information please contact Mr. Chris Taylor, M.Sc., P.Geo, CEO at 604 681 0084.

 

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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