Dunnedin Ventures Inc. (TSXV:DVI) today announced results from exploration undertaken in October of 2016 designed to find additional gold zones at its 100% owned Trapper property. Trapper is a copper-gold porphyry project in northern British Columbia with results that include high grade visible gold flanking copper-mineralized porphyry in drill core, and gold drilled across 2.2 kilometres. Highlights of the current survey include:
- 62 heavy mineral concentrate samples collected across 40 km2 of the project returned an average of 2.31 g/t (2,310 ppb) gold, with a range of 0 to 32.1 g/t (32,100 ppb) gold
- High gold values occur upslope from previously drilled gold zones, defining new gold targets or significant step-outs to known zones
“We’ve now identified two main areas of gold mineralization at Trapper,” said Chris Taylor, Dunnedin’s President and CEO. “The first contains high gold values across more than three kilometres, with most samples originating upslope from past drilling and containing gold that must originate from new, untested targets. This area generated strong gold values where drilled, and these new results suggest significant expansion potential. A second area has also now been identified with consistently high gold values across two kilometres. A drill hole completed within 500 metres of this target hit sulphide-rich porphyry style alteration, and the area was identified at that time as a priority for follow-up exploration.”
Table 1: Gold results from neutron activation testing of heavy mineral concentrates
|Sample||Gold (ppb)||Sample||Gold (ppb)||Sample||Gold (ppb)||Sample||Gold (ppb)|
|KB012||< 5||KB027||109||KB042||< 5||KB059||378|
|KB013||109||KB028||111||KB045||< 5||KB060||< 5|
Table 2: Highlighted gold results from drill collar locations provided in Figure 1.
|From(m)||To(m)||Width* (m)||Au (g/t)|
*Width represents core length and is not intended to reflect true width.
Two styles of mineralization have been drilled and mapped at Trapper. The first is gold-rich semi-massive sulphide stockwork that was the focus of drilling in 2011. This type of intermediate-sulphidation precious and base metal stockwork mineralization has been reported at many major porphyry deposits worldwide, typically overlying or flanking the primary copper porphyry centres. Intervals at Trapper include 34.11 m of 1.71 g/t gold, including 0.41 m of 92.80 g/t gold, and 27.50 m of 1.19 g/t gold, including 2.50 m of 11.15 g/t gold.
The second style of mineralization is copper-mineralized alkalic porphyry. Samples returning up to 0.57% copper in bedrock and 2.5% copper in float have been collected at Trapper including both bornite-chalcopyrite copper sulphide mineralization, and azurite-malachite copper oxide mineralization. These targets have not yet been directly targeted by drilling at Trapper, although copper-mineralized porphyry diking has been intersected in drill core, along with high-energy porphyry style hydrothermal breccias and porphyry style alteration.
The Company will next asses the gold grain content and mineralogy of the heavy mineral concentrates to characterize proximity to gold sources, and to map porphyry alteration and base metal zonation across the project. This will allow sample areas to be prioritized for follow-up exploration. Results will be released as work is completed.
During the 2016 program, gravel, sand and silt were collected from stream and talus sources across the project, and sieved to -20 mesh to produce a 10 kilogram concentrate from each sample site. Samples were further processed using various density and magnetic separation techniques at CF Mineral Research Ltd. of Kelowna, British Columbia, to produce heavy mineral concentrates. Each concentrate was partitioned into a sample sent for neutron activation assaying of gold content at Activation Laboratories Ltd. (“ActLabs”) of Ancaster, Ontario, from which the results in this release are provided, and a sample kept by the Company for further gold grain and mineral analysis.
The Company has also granted an aggregate of 325,000 stock options to consultants of the Company, exercisable at $0.37 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.
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.