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Dunnedin Ventures President: It’s Not About Finding Diamonds, but Finding More Diamonds
Dunnedin Ventures President Claudia Tornquist shares an outline of the Kahuna project and the methodologies being used to find more diamonds.
Dunnedin Ventures (TSXV:DVI) President Claudia Tornquist outlined the work the company has been doing at its Kahuna project in Nunavut, as well as the prospective nature of its Trapper copper project in BC.
In the interview below, Tornquist discussed the impact that shareholder Chuck Fipke has had on the Canadian diamond industry and how his expertise and methodologies are being applied at the Kahuna project.
Below is a transcript of our interview with Dunnedin Ventures President Claudia Tornquist. It has been edited for clarity and brevity.
Investing News Network: Can you tell us about your project in Nunavut?
Dunnedin Ventures President Claudia Tornquist: We are focused on our wholly-owned Kahuna diamond project in Nunavut. It is 1,600 square kilometers in size and has had a lot of historical work done on it. When we picked it up, $30 million had been spent on drilling and geophysics among other work, and we’ve benefitted from all of that data.
It is an advanced exploration project with an existing resource. We’re not working on discovering diamonds, as we already have four million carats, but on finding more diamonds. Moving forward, we’re focused on expanding our existing resource and to explore our kimberlite pipe targets. The discovery of another big kimberlite pipe with diamonds would be a big game changer for the company.
INN: Where is your project located?
CT: We are located very close to Rankin Inlet, Nunavut’s second largest community. The town is only 20 kilometers away and provides us with an advantage in terms of exploration costs. We’re also adjacent to Agnico Eagle’s (TSX:AEM) Meliadine gold mine, which is currently under construction. In addition, we have a federally funded road that has been built across our property.
INN: Chuck Fipke is a major shareholder in the company. How has he contributed to Dunnedin’s success?
CT: Chuck Fipke is a 10 percent shareholder of Dunnedin. He’s also involved in all of our exploration work, lending us his knowledge and expertise. Chuck is a legend in the Canadian diamond space and is known for discovering Ekati, the first diamond mine in Canada. Today, Canada is the third largest diamond producer. Chuck developed a method based on diamond indicator minerals to discover Ekati, and that is the exploration method we are also using.
INN: This isn’t the only project that you’re working on. What else do you have in development?
CT: Trapper is an attractive gold-rich copper porphyry project in British Columbia. It was drilled in 2011 and the results catapulted the previous operator to a market cap of $80 million. Due to recent discoveries from other companies and good copper fundamentals, we’ve received a lot of interest in the project. There are a number of major companies looking actively in the space for farming purposes and we’re actively moving the project forward.
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