August 29, 2019 – Vancouver, British Columbia – Dunnedin Ventures Inc. (the “Company” or “Dunnedin”) (TSX-V: DVI) today announced further sampling and prospecting results from the 2019 exploration program at its 100% owned, road-accessible MPD Copper-Gold Porphyry Project (“MPD”) in Southern Central British Columbia.
In preparation for upcoming drilling, the Company completed a mapping, prospecting and sampling program. The Company recently reported significant copper and gold results from trenches at the “Man” area including 0.89% copper over 46.0 metres (see news release dated August 22, 2019) and the remainder of this work is reported herein. Dunnedin is very encouraged by these new results, which have generated new target areas and helped focus our upcoming drill program.
Select assay results from prospecting work at MPD are provided in Table 1. Highlights include:
- High copper and gold values at Dillard, including 0.80% copper with 0.32 g/t gold, and 0.76% copper with 0.24 g/t gold in grab samples
- Copper-gold and gold-silver mineralization at Prime, including 0.49% copper with 0.26 g/t gold over 2 metres and; 1.03 g/t gold with 9.40 g/t silver in grab samples
- Significant copper mineralization defined at Belcarra with 0.19% copper and 0.08 g/t gold trenched over 22.5 metres, 800 metres northwest of Man.
- 2019 soil sample results have identified new copper-gold targets 550 metres southeast of Man, in an area not yet tested by drilling, but comparable to soil anomalies over the known mineralization at the Man target
- Mineralization occurring in both rock and soil samples over a broad area at MPD validates the potential for a significant copper-gold porphyry system and the opportunity for new discoveries on the property
Claudia Tornquist, President and CEO of Dunnedin said, “Results from surface sampling continue to identify significant surface mineralization across the MPD property, highlighting the opportunity for a major discovery within this under-explored, consolidated land package. We are looking forward to the imminent start of our drill program and are especially excited that our first soil sampling program has already recognized new targets for follow-up in areas of the property not yet drilled by previous explorers.”
MPD Prospecting and Sampling
As part of preparatory work for the 2019 drill program, Dunnedin field staff resampled two historic trenches in the Man area (see news release dated August 22, 2019) and explored a broader, 25 square kilometre area that encompasses the historic Man, Prime and Dillard prospects. Grab and trench samples were collected from outcrops and trenches encountered during prospecting-mapping traverses (see Figure 1). The Company collected 48 prospecting rock samples, either as grab samples from outcrop, or as 1 to 2 metres chip samples in trenches. Samples collected in all three target areas (Man, Prime Dillard) returned significant copper mineralization with associated gold and silver (see Table 1).
Table 1 – Select 2019 MPD Prospecting Results*
|Sample ID||Area||Sample Type||From
|Cu%||Au g/t||Ag g/t|
|Belcarra TRB1||Man N||Trench||0||22.5||22.5||0.19||0.08||0.52|
*Interval represents trench sample length and is not intended to reflect true width. Grab samples are selective in nature and not necessarily representative of mineralization on the property
Figure 1 – 2019 MPD Prospecting Sample Map
A series of six grab samples from copper-bearing boulders in the Dillard area are described as volcanic rocks hosting irregular quartz-carbonate veining with disseminations and stringers of chalcopyrite, pyrite and minor malachite. Similarly, mineralized rocks were also noted in the Prime area where a chip and grab sample contained significant gold and silver. Historic mapping in both areas reference Nicola Group volcano-sedimentary rocks being intruded by porphyritic syenite-monzodiorite dykes and stocks.
A steep slope referred to as the Belcarra trench was sampled one kilometre northwest of the Man trenches. Copper at Belcarra occurs as malachite on fracture/contact surfaces, or as chalcopyrite disseminations over a 22.5 metre section of exposed and altered bedrock. Mineralized host rocks at Belcarra look very similar to the variably-altered porphyritic intrusive and volcanic assemblage observed in the copper-bearing Man trenches.
MPD Soil Geochemical Survey
The Company has identified significant copper and gold-in-soil anomalies on the SE Man soil grid in an area south east of Man and not yet tested by drilling.
Historic soil geochemical surveys at MPD were restricted to local grids, often overlapping and missing multielement data or specific metal analyses. To compare the efficacy of historic soil sampling, the Company collected 200 soil samples over an 800 by 1000 metre grid area (SE Man grid) located southeast of the historic copper-in-soil anomaly defined at Man.
Samples of “B” horizon subsoil were collected at 50 metre intervals along sample lines spaced 100 metres apart. Historic grids in the area did not test for trace elements or precious metals. New assay results from the 2019 soil survey highlight gold values immediately south of the Man trenches and pronounced copper, gold and silver anomalies central to the grid and 550 metres south of the Man trenches. These anomalies reflect the metallic suite targeted in porphyritic host rocks and are analogous to known mineralization and the copper-in-soil anomaly present at Man. (see Figure 2).
Figure 2 – 2019 MPD SE Man Soil Grid
Anomalous copper values up to 201 ppm and gold values up to 136 ppb overlap in the north central portion of soil survey, with some offsets either due to peripheral zoning or depth of overburden. Table 2 shows value ranges and anomalous thresholds for copper-gold-silver on the 2019 SE Man soil geochemical survey.
Table 2 – 2019 SE Man Soil Sampling – Comparative Percentile Values
|Percentile||Cu (ppm)||n||Percentile||Au (ppb)||n||Percentile||Ag (ppm)||n|
The MPD Project’s Nicola Belt geology has many similar characteristics to nearby alkalic porphyry systems at the Copper Mountain Mine to the south, and New Gold’s New Afton Mine to the north. Past exploration has identified numerous copper showings over a large, 10 square kilometre area. Copper and gold mineralization extend from surface, with earlier drilling on the property rarely testing below 200 metres vertical depth. Several historic holes that exceeded 200 metres indicate the potential for porphyry-type mineralization of significant depth and size.
MPD 2019 Permitting
Dunnedin has applied for a multi-year area-based Exploration Permit with the British Columbia Ministry of Energy, Mines and Petroleum Resources requesting authorizations allowing up to 18 drill pads and up to 10 mechanical trenching sites in 2019 and 2020. This application is in the final stages of the review process by regulators and drilling will commence upon receipt of the permit, which the Company expects in September.
All rock and soil samples were sent to ALS Canada Ltd. (ALS) in North Vancouver, BC for preparation and analysis. ALS meets all requirements of International Standards ISO/IEC 17025:2005 and ISO 9001:2015 for analytical procedures. Rock samples were analyzed using ALS’s Fire Assay Fusion method (Au-AA24) with an AA finish for gold; and by a 33-element four acid digest ICP-AES analysis (ME-ICP61) with additional analysis for Ore Grade Elements (ME-OG62) and Ore Grade Cu (Cu- OG62). Soil samples were analyzed using ALS’s AuME-ST43 Super Trace Au + Multi Element package. Results were reported in parts per million (ppm) and converted to percent (%), grams per tonne (g/t) or parts per billion (ppb) when applicable. QA/QC includes field duplicates and field standards. Laboratory QA/QC includes standards, duplicates, re-assays, and blanks inserted by ALS. All QA/QC results were within expectations.
Jeff Ward, P.Geo, Vice President Exploration and the Qualified Person as defined by National Instrument 43-101, has reviewed and approved the technical information contained in this release.
For further information please contact Mr. Knox Henderson, Investor Relations, at 604-551-2360 or firstname.lastname@example.org.
On behalf of the Board of Directors
Dunnedin Ventures Inc.
President & CEO
About Dunnedin Ventures Inc.
Dunnedin Ventures is advancing copper porphyry projects in Canada and the USA; and the Kahuna diamond project in Nunavut, Canada. Dunnedin’s porphyry assets all present known mineral occurrences with the potential for the discovery of large-scale deposits. They include the Trapper copper-gold porphyry project in the northern Golden Triangle region of British Columbia, the MPD copper-gold porphyry project in the prolific Quesnel Trough in south-central British Columbia and the Mohave copper-molybdenum-silver porphyry project near the world-class Bagdad mine in Arizona.
The advanced-stage Kahuna diamond project in Nunavut hosts a high-grade, near surface inferred diamond resource and numerous kimberlite pipe targets. Dunnedin has title to 809 km2 of mineral tenure, with diamond rights covering 1,664 km2 in Nunavut, 26 kilometres from Rankin Inlet and adjacent to Agnico Eagle’s Meliadine gold mine. Working with its advisor and largest shareholder Dr. Chuck Fipke Dunnedin’s exploration at Kahuna is focused toward the discovery of diamondiferous kimberlite pipes.
Based in Vancouver, Dunnedin is backed by a world-renowned team of exploration experts with decades of combined exploration experience and significant capital market strength. Dunnedin is part of the Discovery Group of companies led by John Robins, one of the most successful mining entrepreneurs in Canada.
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. Accordingly, readers should not place undue reliance on forward-looking statements. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward- looking statements, except as required by applicable securities laws.