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Dunnedin Ventures doubles size of Nunavut diamond-gold project

by Greg Klein | December 7, 2016

An additional 66,047 hectares brings Dunnedin Ventures’ (TSXV:DVI) Kahuna property to around 1,200 square kilometres, the company announced December 7. Acquired by staking, the ground now holds over 100 interpreted kimberlite targets, half of them already under scrutiny for diamond indicator minerals from till sampling. Drilling has confirmed 10 diamond-bearing dykes.

Dunnedin Ventures doubles size of Nunavut diamond-gold project

A macrodiamond from Kahuna’s PST kimberlite.

Till sampling has found anomalous gold in five metasedimentary belts, while drilling has found gold in an extension of the Aqpik and Aklak gold showings on Agnico Eagle Mines’ (TSX:AEM) adjacent, advanced-stage Meliadine project, Dunnedin stated. An all-season road links Meliadine with the Hudson Bay hamlet of Rankin Inlet.

Last month Dunnedin announced plans to spin out its non-diamond assets to a new company.

Kahuna has a 2015 inferred resource for near-surface deposits on the Notch and Kahuna dykes, 12 kilometres apart:

  • Kahuna (+0.85 mm cutoff): 3.06 million tonnes averaging 1.04 carats per tonne for 3.19 million carats
  • (+1.18 mm cutoff): 0.8 ct/t for 2.45 million carats

  • Notch (+0.85 mm cutoff): 921,000 tonnes averaging 0.9 ct/t for 829,000 carats
  • (+1.18 mm cutoff): 0.83 ct/t for 765,000 carats

  • Total (+0.85 mm cutoff): 3.99 million tonnes averaging 1.01 ct/t for 4.02 million carats
  • (+1.18 mm cutoff): 0.81 ct/t for 3.22 million carats

Both kimberlites remain open along strike and at depth.

Since then, an 820-kilogram sample from the property’s PST dyke revealed 526 diamonds. Ninety-six surpassed the commercial size of 0.85 millimetres, totalling 5.34 carats. A 2.32-tonne sample from Notch showed 85 commercial-sized stones totalling 1.95 carats.

While processing material from 1,100 till samples collected last summer, Dunnedin anticipates a 2017 program of drilling to test potential extensions of the resources, compile a 1,000-carat parcel for evaluation in Antwerp and try new targets identified by indicator minerals.

Read more about Dunnedin Ventures.

See Chris Berry’s report on long-term diamond demand.

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