October 17, 2016 – Vancouver, BC, Canada. – Dunnedin Ventures Inc. (TSXV: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.