Dunnedin Ventures Inc (CVE:DVI) (OTCMKTS:OTCFF) told investors it had intersected a new zone on its MPD copper-gold project, as part of its current drill campaign.
The new Gate Zone contains the highest-grade porphyry copper-gold mineralization reported in drill core to date and underlies a large copper-in-soil anomaly with over one kilometre of strike at the Prime area of the project.
Results include 102 metres (m) of 0.7% copper equivalent (CuEq), or 0.5% copper and 0.2 grams per ton gold at MPD, which is located in southern British Columbia.
READ: Dunnedin Ventures touts ‘significant’ potential of Mohave and MPD copper-porphyry projects
Dunnedin’s chairman Chris Taylor told shareholders that the latest results confirmed the company’s original thesis that the project housed significant zones of higher-grade copper-gold mineralization, with mineralization present right from bedrock surface.
CEO Claudia Tornquist said it was an “impressive intercept,” especially in light of the fact that neighbouring producers mine ore with grades between 0.25-0.30% copper.
Calling it “the best hole on the property to date,” Tornquist continued, "Drilling at MPD so far has only scratched the surface, and many of the project's copper-in-soil anomalies remain untested. The large porphyry system at MPD is wide open and we are excited about the great potential for more exploration successes and significant value creation for our shareholders.”
Other highlights from the recent drill program include 74.9 m of 0.5% CuEq from 297 m to 372 m.
Subsequent intervals, which Dunnedin refers to as broad moderate grade, include 763.6 m of 0.3% CuEq from 52.3 m to 816 m and 340.7 m of 0.4% CuEq from 219 m to 559.7 m.
Dunnedin said the porphyry signatures on the property are generally stronger at depth, which indicates an upright and intact system with the potential for copper-gold mineralization to increase at deeper levels.
Historical drilling on the property indicates a large porphyry system that is most likely multi-centred across 10 square kilometres at MPD.
For its part, the Gate Zone hosts mineralization present to a depth of around 800 m and remains open at depth.
The Vancouver-based junior is currently defining a large number of drill targets for a 2020 program.
Contact Angela at angela@proactiveinvestors.com
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