08 Feb

Kahuna Kimberlite Sample Yields 2.32 Carats Per Tonne

February 8, 2017 – Vancouver, BC, Canada. – Dunnedin Ventures Inc. (the “Company” or “Dunnedin”) (TSX-V: DVI) today reported the Company’s first diamond recovery results from the Kahuna kimberlite.  The 144.44 kg sample of Kahuna returned 13 commercial-sized stones (+0.85 mm) totalling 0.334 carats, for a sample grade of 2.32 carats per tonne. The largest recovered diamond was a 0.12 carat clear and colourless twinned octahedral stone.  Results are provided in the table below.

Table 1: Diamonds recovered from the Kahuna 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 Sample Grade

(cpt)

Largest

Diamonds

(carats)

Kahuna 0.144 87 0.33 57 17 10 1 2 2.32 0.12, 0.09, 0.03

 

 

Figure 1: Commercial-sized diamonds (+0.85 mm) recovered from the Kahuna kimberlite

Figure 1: Commercial-sized diamonds (+0.85 mm) recovered from the Kahuna kimberlite

Chris Taylor, Dunnedin’s CEO said, “The Kahuna kimberlite is a large target with a maiden Inferred Resource of over 3 million tonnes, and potential for an additional 3.7 to 10.7 million tonnes at a range of depths.  Historical bulk sampling yielded 1.04 carats (+0.85 mm) per tonne, but audits to determine a final sample grade do not appear to have been completed by the past operator.  With this latest sample returning 2.35 carats per tonne, the Company is strongly encouraged by the size and grade potential of this kimberlite, and we view bulk sampling to determine diamond value as a priority.”

Details of an Inferred Resource and Target for Further Exploration have been published for the Kahuna kimberlite, both of which were completed by APEX Geoscience Ltd. and are available as a National Instrument NI 43-101 technical report filed on the SEDAR website (www.sedar.com) on March 12, 2015.  Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. The potential quantity and grade of any Target for Further Exploration is conceptual in nature, 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.

Most of the Kahuna diamonds recovered by Dunnedin are clear and colourless variants of octahedra.

The Kahuna 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 sample to the predetermined cut-off size, along with associated indicator minerals.

 

About the Kahuna Kimberlite

  • Near vertical high grade kimberlite dike that extends to surface with over 4.5 kilometres of drill-defined strike length and remains open to extension along strike and at depth
  • Defines the northernmost drilled portion of a 20+ kilometre strike length kimberlite-intruded structure that also contains the Notch kimberlite dike; over 2,500 m of historical drilling and 360 tonnes of historical bulk sampling have been completed at Kahuna
  • Historical and current samples were taken at the same locations or within metres of each other
  • Most historical drilling is within 80 to 120 metres of surface, however some deeper drill holes were completed and also intersected the kimberlite more than 200 m vertically from surface, indicating continuity to depth where tested
  • Width reported as generally between 2 and 4 m, with an average of 3.2 m, and an average density of 1.99 t/m3

Dunnedin also recently announced that the Kahuna, Notch, PST and other kimberlites are emplaced within gold-mineralized metasediment belts that have historically reported gold in drill core, as well as pristine, locally-sourced gold grains in tills across a broad area contiguous with Agnico Eagle Mines Ltd.’s (TSE: AEM) development-stage Meliadine gold project (see news release, January 31, 2017) .

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  during 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), a 2.36 tonne sample of the Notch kimberlite which returned 89 macrodiamonds totalling 2.38 carats (+0.85 mm), and a 144 kilogram sample of the Kahuna kimberlite that returned 13 macrodiamonds totalling 0.33 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 metasedimentary units including a recently defined greenstone belt with over 40 kilometres of strike length that is associated with elevated gold-in-till results.

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 Jan

A Large New Gold Belt At The Kahuna Diamond Project

January 31, 2017 – Vancouver, BC, Canada. – Dunnedin Ventures Inc. (the “Company” or “Dunnedin”) (TSX-V: DVI) is pleased to report the identification of a large gold-bearing greenstone belt at the Kahuna project.  High gold-in-till counts including pristine gold grains suggesting local bedrock sources of gold are present along a sampled length of over 40 kilometres immediately adjacent to Agnico Eagle Mines Ltd.’s (TSE: AEM, “Agnico”) development-stage Meliadine gold project.

 

Figure 1: Gold grain counts across the Kahuna project based on historical till sampling and recent work by Dunnedin. Gold-in-till results are also provided for the Meliadine project based on publicly available information released by the Geological Survey of Canada (GSC). There is a strong association between gold-in-tills and bedrock gold zones at Meliadine.

Figure 1: Gold grain counts across the Kahuna project based on historical till sampling and recent work by Dunnedin. Gold-in-till results are also provided for the Meliadine project based on publicly available information released by the Geological Survey of Canada (GSC). There is a strong association between gold-in-tills and bedrock gold zones at Meliadine.

 

Chris Taylor, Dunnedin’s CEO, said, “We have identified a large gold-mineralized belt tying onto Agnico’s Meliadine gold trend.  Results suggest gold is preferentially associated with internal fold hinges within the belt.  This pattern is observed at Meliadine, and points to several targets requiring follow up till sampling and drilling at Kahuna.  The area is known for hosting large, high grade gold deposits at the Meliadine project, and we are very encouraged that gold is confirmed to be associated with multiple belts across Kahuna.”

 

Details of Current Gold-in-Till Results

  • Data was acquired through a purchase announced on December 14, 2016
  • Disclosed results are from 347 till samples collected adjacent to the Meliadine property
  • Results are from a reconnaissance scale till sampling program with average sample spacing of over 1 kilometre, designed to test a broad area for gold
  • Average of 7.8 gold grains per sample, with a maximum value of 83 grains
  • Pristine gold grains observed in 114 of 347 samples, with a maximum value of 21 pristine grains, suggesting proximal bedrock sources to 33% of samples
  • Spatial association between gold concentration in till samples and proximity to fold hinges as delineated through geophysics
  • Gold noted in 316 of 347 (91%) of samples

 

Locally sourced coarse gold was also confirmed through till sampling by Dunnedin at the main fold hinge of this belt in the vicinity of the PST and Notch diamond-bearing kimberlites, as shown in Figure 2.  The glacial transport direction and lack of grain modification point to sources at the Kahuna project rather than Meliadine, as disclosed by Dunnedin on October 17, 2016.  With its folded geometry, the new belt has an aggregate strike length of approximately 42 kilometres at Kahuna.

 

2017-01-30 - Gold Grains

Figure 2: Example images of coarse gold grains collected from till samples by Dunnedin during diamond exploration, field of view is approximately 2 mm.

 

Additional Gold Results

The newly defined greenstone belt has not yet been drilled; gold results described below are from additional gold-mineralized metasediment belts at Kahuna.  Four additional gold-bearing belts have been confirmed at the project to date through historical drilling and bedrock and till sampling, as described below and on Figure 1.

Gold encountered in historic drilling was largely incidental during diamond exploration, however six drill holes were assayed for gold and returned values as shown in Table 1.  Not all prospective drill intervals showing sulphide mineralization were assayed, however results are sufficient to confirm the presence of gold in bedrock of similar style to that observed at Meliadine.  Visible gold was noted in one of six drill holes at Kahuna and is also observed at Meliadine.

 

Table 1: 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 also returned between 0.05 and 2.52 g/t gold.  Till sampling confirmed gold-in-tills adjacent to areas with gold-in-bedrock samples, and in other areas.  Gold has been mapped as being associated with magnetically responsive formations that have been described as metasediment belts and regionally significant, deep seated shear zones.

84 of 129 (65%) till samples collected by Dunnedin in 2015 also returned gold results through neutron activation analysis of heavy mineral concentrates collected during diamond exploration, with subsequent confirmation of gold grains as shown in Figure 2.

 

Upcoming Gold Results

 

Over 1,100 till samples collected in summer 2016 across 600 square kilometres of the 1,200 square kilometre Kahuna project are being processed for diamond indicator mineral content and gold grain content at CF Mineral Research Ltd. in Kelowna, British Columbia.

Dunnedin plans to pursue further gold exploration through a spinout company as announced on November 23, 2016 and is currently finalizing plans related to this announcement.

 

Note on Adjacent Gold Projects

 

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).

NxGold Ltd. (TSX-V: NXN) is exploring the Peter Lake project, also adjacent to Meliadine, and recently announced a $35+ million earn-in deal for a 70% interest in a 8,473 hectare (85 square kilometre) land package, and raised $4.9 million for exploration in the area.

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 during 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 metasedimentary units including a recently defined greenstone belt with over 40 kilometres of strike length that is associated with elevated gold-in-till results.

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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18 Jan

Notch Kimberlite Yields Additional High Quality Commerical-Sized Diamonds

January 18, 2017 – Vancouver, BC, Canada. – Dunnedin Ventures Inc. (the “Company” or “Dunnedin”) (TSX-V: DVI) is pleased to report additional diamond recoveries from the Notch kimberlite.  A third, 43.78 kg sample of Notch returned 4 commercial-sized stones (+0.85 mm) totalling 0.43 carats, for a sample grade of 9.72 carats per tonne. The largest recovered diamond was a 0.16 carat clear and colourless elongated octahedron.  Results are provided in the table below along with Dunnedin’s previous results, and an image of the largest diamond.

 

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
Notch 3 0.04 9 0.43 5 0 2 0 2 0 9.72 0.16, 0.08, 0.01
TOTAL 2.36 605 2.38 359 157 61 19 7 2 1.01

 

Figure 1: Image of the largest diamond recovered from the third Notch sample.

Figure 1: Image of the largest diamond recovered from the third Notch sample.

Chris Taylor, Dunnedin’s CEO, said, “Dunnedin has three main diamond exploration goals for 2017.   First, we aim to define 10 million carats of Inferred Resource at an average grade of more than 1.0 carat per tonne through additional drilling of the Kahuna and Notch kimberlites.  Second, we plan to bulk sample the Kahuna, Notch and PST kimberlites to assemble a package of commercial sized diamonds for valuation purposes.  Third, we plan to drill a number of new diamond indicator mineral sources that have been identified through till analysis which may represent new diamond-bearing kimberlite pipes and dikes.”

Current Notch results are from a sample randomly partitioned for additional geochemical study, which was visually similar to other samples of Notch, despite the very high sample grade.  Most of the Notch diamonds recovered by Dunnedin are clear and colourless variants of octahedra.  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 1,260,000 stock options to directors, advisors and consultants of the Company, exercisable at $0.21 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. 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  during 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 metasedimentary 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.

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03 Jan

DUNNEDIN RAISES $1.1 MILLION

January 3, 2017 – Vancouver, BC, Canada. – Dunnedin Ventures Inc. (the “Company” or “Dunnedin”) (TSX-V: DVI) today announced it has received gross proceeds of $1,119,031 from a combination of warrant exercise and flow through financing.

Through a warrant acceleration program announced in November 2016, as well as receipt of other exercised common share purchase warrants, the Company has received gross proceeds of $734,031 and has issued 7,343,307 common shares.  All accelerated $0.10 warrants were exercised by warrant holders.

The Company also announces it has closed a $385,000 flow-through financing on December 30, 2016.  The Company issued 1,750,000 flow-through common shares in its capital stock at a price of $0.22 per flow-through share.  Proceeds from the flow-through offering will be used to finance qualified Canadian exploration expenditures (CEE) work primarily related to the Company’s Kahuna project in Nunavut.

In connection with closing of the placement, the Company paid fees of $30,800 and issued 140,000 warrants to finders who introduced subscribers to the Company.  Each warrant is exercisable to acquire one non-flow-through share at a price of $0.22 per share for a period of thirty-six months.  All securities issued in connection with the placement are subject to a four-month-and-one-day statutory hold period.

“Dunnedin is entering 2017 strongly positioned to benefit shareholders through ongoing exploration at the Kahuna project,” said Chris Taylor, Dunnedin’s CEO. “We are currently working with management and counsel to determine the mechanics and timing of the previously announced spinout of our gold and copper assets, and will update shareholders as information becomes available.  Review of our recently purchased Kahuna project data set is also underway and results will be released as analyses are completed.”

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 Mines Ltd.’s (TSE: AEM) 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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