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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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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02 Nov

CEO INTERVIEW with Investing News Network

Investing News Network recently spoke with Dunnedin Ventures CEO Chris Taylor about the company’s 2015 Kahuna exploration program’s gold till results, a planned gold exploration program, and Dunnedin’s next steps for the Kahuna project.

Dunnedin Ventures Inc. (TSXV:DVI) is a Vancouver-based diamond exploration company focused on advancing the Kahuna Diamond Project in Nunavut, Canada. Dunnedin has an option agreement to earn a 100-percent interest in the Kahuna project which lies near to Ranklin Inlet and the surrounding infrastructure of Agnico Eagle’s Meliadine gold mine.

Kahuna is an advanced-stage, high-grade diamond project with an inferred resource of 4,018,000 carats of commercial-sized diamonds with an average grade of 1.01 carats per tonne.** Dunnedin recently discovered gold at Kahuna, a rare global find with multiple gold mineralized formations intruded by diamond-bearing kimberlites.

A wealth of historical data on the property coupled with ongoing work by Dunnedin points to significant upside potential for the project. The company plans to develop targets for further bulk sampling to collect sufficient commercial-sized diamonds for a valuation parcel and to expand the current resource estimate.

Dunnedin is currently recovering diamonds and indicator minerals from a series of kimberlite and till samples collected during the 2015 Phase 1 Field Program. Diamond recovery results from the Notch kimberlite were released in September 6, 2016 showing a 1.30 tonne sample of Notch returned 49 commercial-sized stones (+0.85 mm) totaling 1.29 carats with a sample grade of 0.99 carats per tonne. The company also announced conclusion of its summer 2016 field investigation program at Kahuna, consisting of 1,111 till samples collected across the property.

Investing News Network: You’ve recently reported some interesting gold and till results from your 2015 exploration program at the Kahuna Diamond Project. I understand Kahuna is in close proximity to Agnico Eagle’s Meliadine mine development project. Would you please share some of the highlights from those results, and give us some insight into what this gold potential means for the project and for potential investors?

Chris Taylor: The area that the project is in is extremely prospective for gold mineralization. What has been the long-term attractant for many mineral explorers over the past 50 years is really that gold potential of the district. What the recent results mean for us is that we probably identified the only location that I know of globally where you have multiple gold mineralized formations that are intruded by diamond-bearing kimberlites. What this discovery really means is that we found something that appears to be completely unique geologically.

INN: Are there any other comparable projects for investors to look at that have this occurrence?

CT: As far as I know, this is the first time that any company has noted widespread gold mineralization in an area that also contains high-grade diamond-bearing kimberlites.

INN: You have also staked an additional 21 claims nearly doubling the total size of the Kahuna property, placing you within ten kilometers of the Meliadine Mine site. Can you please comment on this move and what it means for the project?

CT: When we began doing work on the property, my first level of really intense excitement came when we began recovering diamonds from the mini bulk samples that we did back in 2015. When those started coming out of the lab, it was a real watershed moment for me because the recovery of diamonds from the project makes the project real. I was very excited again when we began to really intensively review the historic results that were generated in the area. The fact that we are located immediately adjacent to what is probably the best new gold mine currently in development in the country, and there is history of gold exploration in this area, that was really exciting.

chris-taylor

 

For full interview please view at: http://investingnews.com/daily/resource-investing/gem-investing/diamond-investing/dunnedin-ventures-ceo-chris-taylor/ 

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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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