June 29, 2015 – Vancouver, BC, Canada. – Dunnedin Ventures Inc. (the “Company” or “Dunnedin”) (TSX-V: DVI) is pleased to report it will mobilize to Rankin Inlet, Nunavut, to begin field investigations and community consultations for the Kahuna diamond project in mid-July.
The Company also reports that ongoing re-analysis of historic results has identified many new targets including potential kimberlite dikes, dike blows and pipes that will be investigated this summer. Dunnedin would like to thank Dr. Charles (Chuck) Fipke and the team at CF Mineral Research Ltd. in Kelowna, B.C. for their interpretation of historical microprobe data from diamond indicator minerals (DIMs). Geological and geophysical interpretations were completed in house by Dunnedin.
- Increase from approximately 25 km to more than 180 km of aggregate strike of known and interpreted structures which can host kimberlite dikes. Historic drill data were combined with filtered magnetic and electromagnetic results to “fingerprint” known kimberlites. This signature was used to project known kimberlite-intruded structures along strike below shallow post-glacial cover and to identify new targets in untested and/or covered areas. DIM trains sourcing into these new targets support the presence of kimberlite in many new areas.
- New circular geophysical targets were identified which may represent kimberlite pipes and/or dike blows, many of which occur within DIM trains. Pipe- or blow-type targets have now been interpreted that root into drill-confirmed diamondiferous dikes and may represent diamondiferous pipes or blows. Previous drilling into one of these targets encountered diamondiferous kimberlite stringers and intense alteration of granitic host rocks over more than 50 m.
- Diamond indicator mineral chemistry suggests the potential for the project to host large diamonds. Using proprietary data analysis techniques, CF Mineral Research Ltd. determined that DIMs from the Kahuna project have chemistry that is also observed in mineral intergrowths within larger diamonds recovered from producing diamond mines. These results are in line with the previously recovered 13 carat reconstructed stone from Kahuna and suggest that large stone potential is significant for kimberlites in the region.
Maps of the interpreted extensions of known dikes and new targets that may represent pipes or blows, including summaries of the high priority DIM chemical classifications by CF Mineral Research Ltd. have been incorporated into an updated corporate presentation that is posted to the Company’s web site at www.dunnedinventures.com.
Chris Taylor, CEO of Dunnedin said: “Since finalizing the Kahuna agreement in October of 2014, Dunnedin has been restricted by winter conditions from conducting ground investigations at the project. That is about to change, as we are preparing to move field crews on site in July. Drilling and bulk sampling will follow after freeze-up once targets have been verified in the field this summer. We also look forward to beginning in-person consultations with members of the Rankin Inlet and Chesterfield Inlet communities. Our work continues to show the unique potential of the Kahuna project, and Dunnedin is looking forward to getting out to site next month and beginning to recover diamonds from our high priority targets.”
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 604 681 0084, or Mr. Allan Barry Laboucan, Special Advisor at 604 505 4753.
On behalf of the Board of Directors
Dunnedin Ventures Inc.
Chief Executive Officer
About the Kahuna Project
Kahuna is an advanced stage high grade diamond project located near Rankin Inlet, Nunavut. Three main diamondiferous kimberlite dikes, the Kahuna, PST and Notch, have been drilled and bulk sampled and returned grades of 0.85 to 2.18 carats per tonne. 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 from 3.99 million tonnes of kimberlite 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 that had been broken during the sample preparation process and was reconstructed as having an original size of 13.42 carats. The dikes have comparable strike lengths, widths and grades to producing diamond mines and occur within a broad network of largely untested geophysical targets, overlain by dense diamond indicator mineral trains.
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.