Dunnedin Ventures - Year-End 2018 President's Letter
Dunnedin Ventures - Year-End 2018 President's Letter
Vancouver, British Columbia--(Newsfile Corp. - January 10, 2019) -
Dunnedin Ventures Inc. (TSXV: DVI) (the "Company"
or "Dunnedin") President, Claudia Tornquist today provides a year-end review of the Company's activities and progress in 2018.
Dear Investor,
2018 marked a busy and exciting year for Dunnedin that saw progress on many fronts:
Our
initial drill program
considerably advanced the Kahuna diamond project
We
extended two high-grade diamond bearing dikes
through drilling and geophysics
Industry-leading
kimberlite dike experts have been retained
to advise on the advancement of our diamond resources
We furthered our exploration for diamondiferous kimberlite pipes and significantly
narrowed down the most
prospective area for a potential discovery
A till sampling campaign was completed
in order to prioritize kimberlite pipe targets for follow-up drilling
The newly acquired MPD copper project joins our Trapper project to
form a strong copper-gold porphyry portfolio
in
British Columbia
We
strengthened our board
with the addition of Steven Krause
We completed the
spin-out of the gold mineralization rights on the Kahuna project into Solstice Gold Corp
, which
commenced trading on the TSX-V
Over the year Dunnedin raised
$3.5 million through private placements
and our advisor Dr. Charles (Chuck) Fipke
increased his share in the company to over 10% through his participation
Figure 1: Diamonds from the Kahuna Project
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/3803/42071_56b3fe32d4136848_002full.jpg
Initial Drill Program at Kahuna
Dunnedin set out to drill-test the targets we determined following three years of analyzing historic data and probing thousands of
surface samples for diamond indicator minerals (DIMs).
We took a prudent approach by relying on the surface exploration
methods that our advisor and largest shareholder, Dr. Charles (Chuck) Fipke used to discover Canada's Ekati mine, before
embarking on our drill program.
Our initial drilling program was successful on two sides:
Kimberlite Dikes
We drilled significant extensions to two diamond bearing, high-grade kimberlite dikes. These expand the quantity of
diamondiferous kimberlite
that has been confirmed on the property to date, as neither body is yet included in our maiden inferred
resource of 4 million carats (see
resource estimate
, DVI website) and target for further exploration (see
TFFE estimate
, DVI
website). To date we now have approximately 20 km of kimberlite dikes defined through drilling and geophysics and the Kahuna
property hosts many more linear structures that remain largely untested and collectively comprise over 100 km of prospective,
potentially kimberlite-bearing targets.
To further the potential of our kimberlite dikes Dunnedin has engaged SRK Consulting to develop options to expand the existing
inferred diamond resource on the Kahuna and Notch dikes, incorporate the numerous other proven diamondiferous dikes on the
Kahuna property and assess conceptual mining methods. We expect the results of this study in Q1 2019.
Kimberlite Pipes
We have significantly narrowed down our main target area for kimberlite pipes on our large property where we hold diamond
rights over 1600 km
2
, to a 10 km
2
area that shows a high concentration of high-quality DIMs. This section in the northeast of the
property is known as the Josephine Target Area.
Through till sampling and drilling programs, we were able to show that known and weakly diamondiferous kimberlites in this area
were
not
the sources of the abundant DIMs in till, which indicates that there must be one or several yet-to-be discovered sources
for these DIMs nearby.
To zero-in on these sources we collected another batch of nearly 1,000 surface samples in the autumn of
2018 and we expect the priority results from these samples in the coming weeks.
Copper Portfolio Provides Additional Discovery Potential
In 2018 Dunnedin also started to actively explore options to unlock the value of its 100% owned Trapper copper-gold porphyry
project in BC's prolific Golden Triangle, on the heels of several high-profile porphyry exploration successes in the province.
In
November we strategically acquired 100% of the historically drilled, and recently consolidated, MPD property in South-Central
British Columbia. Like Trapper, MPD has immediate exploration upside and the potential to yield a major copper-gold porphyry
system. The project is in a known, productive copper-gold porphyry belt with historically drilled grades similar to nearby
producing mines. Dunnedin will provide further information on 2019 exploration plans at MPD as the project database is
analyzed.
Strong Team & Strategic Alignment
On the management front, we were pleased to welcome Mr. Steven Krause to our Board of Directors. Steven is CFO of Viva
Gold Corp. and former CFO of Bear Creek Mining. He was also former chairman of Luna Gold, where he led the $360m merger
with JDL Gold to form Trek Mining. Steven's experience in finance, corporate development, and governance is a welcome
addition to our high-caliber team of director and advisors.
We are also proud to be affiliated with some of the most successful exploration and resource development professionals in
Canada through the Discovery Group, led by John Robins.
With a shared philosophy of finding and advancing overlooked high-
quality assets with good historic results and strong economic potential, several companies in this group have generated
industry-leading returns for shareholders over the past year and certainly our CEO Chris Taylor is becoming well-known through
the successes of our sister company Great Bear Resources, which made a significant high-grade gold discovery in Canada's
Red Lake District.
Indeed, it is our intention replicate these successes to the benefit of Dunnedin shareholders. We have the underlying assets and
the team to unlock their potential. Our belief in the discovery potential at Kahuna is as strong as ever and our copper portfolio
provides us with additional options to create value. In 2019 we will be pursuing a variety of avenues for funding, exploring and
monetizing our assets to the benefit of shareholders. Watch for more news early this year as we move our projects forward, and
we thank you for your continued support.
Sincerely,
Claudia Tornquist
President
Jeff Ward, P.Geo, Vice President Exploration and a Qualified Person under 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
.
On behalf of the Board of Directors
Dunnedin Ventures Inc.
Claudia Tornquist
President
About Dunnedin Ventures Inc.
Dunnedin Ventures Inc. (TSXV: DVI) is focused on its 100% owned, advanced-stage Kahuna Diamond Project in Nunavut which
hosts a high-grade, near surface inferred diamond resource and numerous kimberlite pipe targets.
The Company holds
diamond interests in 1,664 km
2
of mineral tenure located 26 kilometres northeast of Rankin Inlet and adjacent to Agnico Eagle's
Meliadine gold mine.
The Kahuna Diamond Project has an Inferred Resource Estimate of 3,987,000 tonnes at an average
grade of 1.01 carats per tonne, totalling over 4 million carats of diamonds (+0.85 mm) (see news release dated March 31,
2015). Dunnedin's drilling is aimed at the discovery of diamondiferous kimberlite pipes, and the Company is working with
advisor and largest shareholder Dr. Chuck Fipke to define and prioritize drill targets based on an extensive historic data set, and
diamonds and indicator minerals recovered from a series of kimberlite and till samples over four seasons of field work.
Dunnedin also holds a 100% interest in the Trapper Porphyry Project in the northern "Golden Triangle" region of British
Columbia, and the MPD Project in south-central British Columbia near Princeton. The Trapper and MPD Projects are
interpreted to overlie
gold-rich copper porphyry systems having surface geochemical, geophysical and regional alteration
signatures of considerable size. 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.
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.