Dunnedin Stakes 59 Claims at Kahuna Project

 
Dunnedin Ventures Inc. (TSXV:DVI) has increased the size of the Kahuna diamond project by staking an additional 59 claims totaling 66,047 hectares. The project is now approximately 120,000 hectares (1,200 square kilometres) in size. The Kahuna project now consists of:

• -Over 100 interpreted kimberlite pipe targets, 50 of which are currently being screened for down-ice diamond indicator mineral (“DIM”) chemistry from till sampling;
• -Over 200 kilometres of aggregate strike length of a kimberlite-intruded structural network including 10 drill-proven diamond bearing kimberlite dikes with sample grades ranging from 0.66 to 6.5 carats (+0.85 mm) per tonne, and;
• -Five confirmed gold-bearing metasediment belts with approximately 190 kilometres of aggregate strike length, including drill-confirmed gold in an extension of the Aqpik and Aklak host stratigraphy held by Agnico Eagle Mines Ltd. (TSE: AEM, “Agnico”) on the Meliadine property.

The Company notes an increasing level of exploration and development activity in the Kahuna and Meliadine project area, with Agnico recently entering into mineral exploration agreements extending their land position into areas of Inuit-owned subsurface rights adjacent to Dunnedin’s claims. Most recently, NxGold Ltd. (TSX-V: NXN, “NxGold”) announced a $35+ million earn-in deal for a 70% interest in a 8,473 hectare (85 square kilometre) land package adjacent to the Meliadine claims. An updated claims map is provided below in Figure 1.
As previously announced (see Dunnedin news release of November 23, 2016), Dunnedin intends to undertake a plan of arrangement to spin out its gold and copper assets, consisting of the gold rights at the Kahuna project in Nunavut and its Trapper copper-gold porphyry property in British Columbia. Further information including a date of record will be provided when details are available.
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