Dunnedin Commences Exploration at MPD Copper-Gold Porphyry Project in British Columbia
TSX VENTURE: DVI
Vancouver, British Columbia--(Newsfile Corp. - August 1, 2019) - Dunnedin Ventures Inc. (TSXV: DVI) (the "Company" or "Dunnedin") announces the commencement of the 2019 exploration program at its 100% owned MPD Copper-Gold Porphyry Project in Southern Central British Columbia. In preparation for upcoming drilling, the Company has mobilized field crews to the property for mapping, sampling and prospecting work.
Claudia Tornquist, President and CEO of Dunnedin said, "These are pivotal times at Dunnedin as we embark on programs to advance our copper gold assets, starting with this inaugural program at MPD, followed by work at Trapper and Mohave later in 2019. MPD has many attributes that could drive significant returns for our shareholders, not least its location just off the highways 5A and 97C and proximity to infrastructure in an established mining area in Southern British Columbia. We are also excited about the project's large footprint and its promising historic exploration results, which clearly show the potential for a major copper-gold porphyry system."
The recently consolidated 78.5 square kilometre MPD Project land package (historically called Man, Prime and Dillard, Figure 1) is ideally positioned in the Quesnel Trough, a producing copper-gold porphyry belt, that hosts several world-class mines. The project's Nicola Belt geology has many similar characteristics to nearby alkalic porphyry systems at the Copper Mountain Mine to the south, and New Gold's New Afton Mine to the north.
In preparation for drilling at MPD, work has commenced to survey previous drill holes and trench sites, tie-in historic exploration data, prospect new areas of interest and confirm access for proposed drill sites. As part of this work, historic surface trenches from 1980 and earlier are being resampled by hand-trenching to substantiate mineralization and determine geological-geochemical controls within key target areas. In addition, soil geochemical surveys are being carried out to augment and in-fill geochemical anomalies identified in historic surveys. Results for this preliminary work will be reported in August as received.
Figure 1 - Location
Historic work has identified numerous copper showings across a large, 10 square kilometre area at MPD. Copper and gold mineralization on the property extends from surface, with early historic drilling rarely testing below 200 metres vertical depth. Several historic holes that exceeded 200 metres indicate significant depth and size potential for porphyry related mineralization. Large untested copper and gold-in-soil anomalies equally represent new near-term drill targets for 2019.
Dunnedin has applied for a multi-year area-based Exploration Permit with the British Columbia Ministry of Energy, Mines and Petroleum Resources requesting authorizations allowing up to 18 drill pads and up to 10 mechanical trenching sites in 2019 and 2020. Prior to submission of the application, the Company consulted with, and engaged the Upper Similkameen Indian Band to conduct an in-field assessment of proposed work sites. A report provided to the Company in late May determined there was low to nil archeological potential or risk for the work proposed. Dunnedin's application is currently being advanced through the review process by regulators. The Company expects to commence drilling immediately upon receipt of the permit.
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.
On behalf of the Board of Directors
Dunnedin Ventures Inc.
President & CEO
About Dunnedin Ventures Inc.
Dunnedin Ventures is advancing copper porphyry projects in Canada and the USA; and the Kahuna diamond project in Nunavut, Canada. Dunnedin's porphyry assets all present known mineral discoveries with the potential to hold large-scale deposits. They include the Trapper copper-gold porphyry project in the northern Golden Triangle region of British Columbia, the MPD copper-gold porphyry project in the prolific Quesnel Trough in south-central British Columbia and the Mohave copper-molybdenum-silver porphyry project near the world-class Bagdad mine in Arizona.
The advanced-stage Kahuna diamond project in Nunavut hosts a high-grade, near surface inferred diamond resource and numerous kimberlite pipe targets. Dunnedin holds diamond interests in 1,664 km2 of mineral tenure located 26 kilometres from Rankin Inlet and adjacent to Agnico Eagle's Meliadine gold mine. Dunnedin's exploration is aimed at the discovery of diamondiferous kimberlite pipes, working with its advisor and largest shareholder Dr. Chuck Fipke.
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. Dunnedin is part of the Discovery Group of companies led by John Robins, one of the most successful mining entrepreneurs in Canada.
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.