Proactiveinvestors USA & Canada Dunnedin Ventures Inc. https://www.proactiveinvestors.com Proactiveinvestors USA & Canada Dunnedin Ventures Inc. RSS feed en Sun, 21 Jul 2019 03:38:00 -0400 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Dunnedin extends warrant expiry dates so shareholders can participate in upcoming drill program ]]> https://www.proactiveinvestors.com/companies/news/222876/dunnedin-extends-warrant-expiry-dates-so-shareholders-can-participate-in-upcoming-drill-program-222876.html Dunnedin Ventures Inc (CVE:DVI) (OTCMKTS:OCPFF) is extending the expiry dates of nearly 9 million warrants so that shareholders can participate in its upcoming drill programs, the company announced Wednesday.

The Vancouver-based junior explorer is advancing copper porphyry projects in Canada and the US, as well as the Kahuna diamond project in Nunavut.

The warrants will be extended for a two-year period to July 17, 2021, according to Dunnedin, which has received approval from the TSX Venture Exchange.

READ: Dunnedin Ventures closes acquisition of potentially exciting copper porphyry project in Arizona

The company is adjusting the expiry date for 8.3 million warrants priced at C$0.23 and around 661,000 units priced at C$0.27.

"We are pleased to extend the expiry dates of these warrants as this will enable our shareholders to participate in the upside from our two upcoming drill programs,” said Claudia Tornquist, CEO of Dunnedin.

Tornquist said the company plans to drill the MPD copper-gold porphyry project this summer before moving on to the Mohave copper porphyry project in Arizona, where a drill program is planned later this year.

Dunnedin’s shares were flat at C$0.07 in Toronto.

Contact Angela at angela@proactiveinvestors.com

Follow her on Twitter @AHarmantas

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Wed, 26 Jun 2019 10:37:00 -0400 https://www.proactiveinvestors.com/companies/news/222876/dunnedin-extends-warrant-expiry-dates-so-shareholders-can-participate-in-upcoming-drill-program-222876.html
<![CDATA[Media files - Dunnedin Ventures CEO looking to the future with their copper assets ]]> https://www.proactiveinvestors.com/companies/stocktube/13643/dunnedin-ventures-ceo-looking-to-the-future-with-their-copper-assets-13643.html Thu, 06 Jun 2019 09:21:00 -0400 https://www.proactiveinvestors.com/companies/stocktube/13643/dunnedin-ventures-ceo-looking-to-the-future-with-their-copper-assets-13643.html <![CDATA[Media files - Dunnedin Ventures acquires copper project picking up Mohave in Arizona ]]> https://www.proactiveinvestors.com/companies/stocktube/13447/dunnedin-ventures-acquires-copper-project-picking-up-mohave-in-arizona-13447.html Wed, 22 May 2019 10:42:00 -0400 https://www.proactiveinvestors.com/companies/stocktube/13447/dunnedin-ventures-acquires-copper-project-picking-up-mohave-in-arizona-13447.html <![CDATA[News - Dunnedin Ventures closes acquisition of potentially exciting copper porphyry project in Arizona ]]> https://www.proactiveinvestors.com/companies/news/220785/dunnedin-ventures-closes-acquisition-of-potentially-exciting-copper-porphyry-project-in-arizona-220785.html Dunnedin Ventures Inc (CVE:DVI) (OTCMKTS:OCPFF) has closed its acquisition of the Mohave copper-moly-silver project in Arizona, potentially opening the door to the company finding a large porphyry style deposit there.

The group first announced the Mohave letter of intent in March this year.  The seller is Bluestone Resources Inc, which has carried out considerable exploration.

The 10 sq km property lies in the prolific mineral producing Basin and Range Province of Arizona, 33km west of Freeport McMoran's Bagdad copper porphyry mine. It is also ideally situated just west of Highway 93 which links Las Vegas and Phoenix.

READ: Dunnedin signs tentative deal to buy copper-molybdenum-silver porphyry project in Arizona

"We are thrilled to close this acquisition which expands Dunnedin's copper portfolio to three advanced stage porphyry projects in North America," said Claudia Tornquist, president and CEO of Dunnedin on Wednesday.

"At Mohave we will benefit from the excellent work done by the previous operator Bluestone from whom we inherited a comprehensive suite of high-quality exploration data.  In 2011 Bluestone drilled 11 core holes and reported anomalous mineralization over significant intervals in all holes."

Tornquist noted that work to date "strongly indicates" the presence of a large system of porphyry style Copper-Moly- Silver mineralization and the firm now has a  number of promising targets to follow-up on in the fall, after the group completes the summer exploration programs on its Canadian porphyry projects -  MPD and Trapper.

Favorable mineralization

At Mohave, Bluestone has reported favorable mineralization at surface to depths of 390 meters from the first drill program in over 20 years, which was 3,500 m in 11 inclined holes in 2011.

Bluestone's work also included ground geophysics, rock and soil geochemical samples, along with detailed lithological-structural-alteration mapping.

Dunnedin said Wednesday that this year's  exploration program at the Arizona project will evaluate historically defined targets, coincident geophysical/geochemical signatures and in particular, numerous anomalies not yet tested by previous drilling.

Contact Giles at giles@proactiveinvestors.com

Follow him on Twitter@Gile74

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Wed, 22 May 2019 07:57:00 -0400 https://www.proactiveinvestors.com/companies/news/220785/dunnedin-ventures-closes-acquisition-of-potentially-exciting-copper-porphyry-project-in-arizona-220785.html
<![CDATA[News - Dunnedin raises $1.5 million to expand copper project in BC ]]> https://www.proactiveinvestors.com/companies/news/219298/dunnedin-raises-15-million-to-expand-copper-project-in-bc-219298.html Dunnedin Ventures Inc. (CVE:DVI) (OTCMKTS:OCPFF) announced is continuing to build up its copper exploration portfolio, as it announced it has raised C$1.48 million in financing to expand its exploration program on the MPD copper porphyry project in British Columbia and for general corporate purposes.

Shares of Dunnedin were up 6.7% at C$0.08 on Monday. 

"Dunnedin's team is looking forward to kicking off a busy exploration season on several fronts, and we are now fully funded for this work. Over the winter months we have expanded our project portfolio through two acquisitions in the copper porphyry space, MPD and Mohave, to add to our existing copper project, Trapper. This means we now have additional opportunities over and above our Kahuna diamond project in Nunavut and are in a position to explore throughout the year," said Claudia Tornquist, president of Dunnedin, in a statement. 

"We will start within weeks with an exploration program at the formerly drilled and recently consolidated MPD in southern BC, which we are confident presents an excellent opportunity for discovery," added Tornquist. 

READ: Dunnedin Ventures defines potential new source of diamonds in Nunavut

MPD is Dunnedin's newest copper-porphyry project, located in south-central British Columbia. MPD is situated between the long-time producing Highland Valley and Copper Mountain mines. Dunnedin also holds the Trapper Porphyry Project in the northern Golden Triangle region of British Columbia. 

The company also made a number of board and advisor appointments. The company announced Claudia Tornquist will be taking on the role of CEO in addition to the president role she currently holds, and Chris Taylor will move to be chairman of the board of Dunnedin.

The company also has tapped Patrick McAndless as technical advisor. McAndless is a former director of Dunnedin, and an award-winning explorationist and copper porphyry expert, holding more than 45 years of industry experience. 

"I would like to welcome Patrick as a strategic adviser to Dunnedin," said Tornquist. "He is a leading expert in copper porphyry exploration and well connected in the industry. Dunnedin is fortunate to attract an adviser of Patrick's caliber and will benefit greatly from his wealth of experience. The new structure of Dunnedin's board will strengthen the company as we continue to grow. I am looking forward to working with Chris in his capacity as chairman where Dunnedin will continue to benefit from his experience and support. I am extremely pleased that Steven has taken on the additional responsibility of lead independent director."

Financing details

The company issued approximately 5.5 million flow-through units at a price of C$0.11.25 and 11.5 million non-flow-through units priced at C$0.75, for gross proceeds totalling C$1.48 million.

Flow-through shares are a unique financing vehicle for junior mining companies in Canada, giving investors tax incentives for funding resource exploration.

Contact Katie Lewis at katie@proactiveinvestors.com

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Mon, 29 Apr 2019 13:56:00 -0400 https://www.proactiveinvestors.com/companies/news/219298/dunnedin-raises-15-million-to-expand-copper-project-in-bc-219298.html
<![CDATA[Media files - Dunnedin Ventures narrows the exploration for diamonds at Kahuna project ]]> https://www.proactiveinvestors.com/companies/stocktube/12686/dunnedin-ventures-narrows-the-exploration-for-diamonds-at-kahuna-project-12686.html Thu, 21 Mar 2019 15:32:00 -0400 https://www.proactiveinvestors.com/companies/stocktube/12686/dunnedin-ventures-narrows-the-exploration-for-diamonds-at-kahuna-project-12686.html <![CDATA[News - Dunnedin Ventures defines potential new source of diamonds in Nunavut ]]> https://www.proactiveinvestors.com/companies/news/216875/dunnedin-ventures-defines-potential-new-source-of-diamonds-in-nunavut-216875.html Dunnedin Ventures Inc. (CVE:DVI) (OTCMKTS:OCPFF) announced that exploration work at its Kahuna project in Nunavut revealed a discrete target area for possible new sources of diamonds.

The Vancouver-based company collected approximately 750 till samples from the Josephine Target Area during the fall of 2018, 109 of which revealed abundant high-quality diamond indicator materials (DIM), a potential new area of nearly three square kilometres. The source of the DIM has not been found.

Dunnedin's shares jumped 6.7% on Wednesday afternoon to $0.08 on the Toronto Stock Exchange.

READ: Dunnedin signs tentative deal to buy copper-molybdenum-silver porphyry project in Arizona

“The Josephine Target Area is the most intriguing and prospective area on the Kahuna project,” said Claudia Tornquist, president of Dunnedin. “We believe it has exceptional potential for the discovery of one or several large diamond sources.”

Over the near term, the focus of the junior miner’s exploration program will remain on its portfolio of large-scale copper porphory projects in Canada and the US, including the recently acquired Mohave copper-molybdenum-silver project in Arizona.

Kahuna hosts a high-grade, near surface diamond resource and numerous kimberlite targets. Dunnedin will continue exploration work for kimberlite pipes within the newly defined target area.

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Wed, 20 Mar 2019 13:52:00 -0400 https://www.proactiveinvestors.com/companies/news/216875/dunnedin-ventures-defines-potential-new-source-of-diamonds-in-nunavut-216875.html
<![CDATA[News - Dunnedin targets major copper porphyry discoveries in upcoming exploration campaigns ]]> https://www.proactiveinvestors.com/companies/news/216660/dunnedin-targets-major-copper-porphyry-discoveries-in-upcoming-exploration-campaigns-216660.html Slowly and methodically Dunnedin Ventures (CVE:DVI) has been moving its near-term focus away from diamonds and towards copper and gold.

The company has a long-standing copper porphyry project at Trapper in the northern Golden Triangle of British Columbia, which at one point drove the valuation of Dunnedin’s predecessor, Ocean Park, up to C$80mln at the height the gold rally of 2011.

Markets aren’t quite so ebullient these days, but a renewed focus on Trapper could still deliver a real value uplift, given the potential.

“It’s a textbook porphyry structure,” says Dunnedin director and president, Claudia Tornquist.

“It covers 38 square kilometres, but last time it was drilled the focus wasn’t on the porphyry centre, but on the gold-rich ring-zone because at the time they were testing for precious metals.”

The drilling results moved the markets, at least for a while, but partly because of the project’s relative remoteness, interest moved elsewhere.

How is it doing? 

Last year, with clear signs of an ongoing recovery in the copper price, Dunnedin’s attention returned once again to Trapper.

In particular, the chances of bringing the project back into the limelight seemed much more favourable following successes of nearby exploration conducted amongst others by Newmont, GT Gold and Skeena.

It’s in that context that Trapper started to make a lot more sense.

“We thought we’d monetise it and explore options on how to take it forward,” says Tornquist.

Precisely how that happens remains an open question - the best time to resume drilling, says Tornquist, is in the summer, so there’s a little while yet for Dunnedin to roll the dice. But it’s already apparent that it will be one of two options. Either Dunnedin will drill Trapper itself, or it will bring a partner in and get someone else’s help in getting to grips with the logistics.

One way or another though, work on Trapper is now back on the agenda, and with copper now trading at around 50% higher than its five year low of around US$2.00 per pound, any exploration success is likely to energise the market.

It may not need too much energising by then though, because in the meantime Dunnedin is planning to get to work on its new copper-porphyry project in south-central British Columbia, MPD.

This, says Tornquist, is a project that Dunnedin came across when it was reconsidering its options for Trapper last year. MPD was rapidly acquired on what she calls “advantageous terms”, or more precisely C$100,000 in cash and C$100,000 in shares, with another C$100,000 payment due down the road.

Due to its more favourable location - right off the highway and near infrastructure, and because it lies within a producing copper belt - MPD is set to take centre stage in the immediate term.

“Our first exploration programme this year will be on MPD,” she says.

“MPD is situated between the long-time producing Highland Valley and Copper Mountain mines. Several companies explored and put 129 drill holes into different parts of the property over the span of several decades, but no-one has worked the property as a whole.”

The prospector from whom Dunnedin acquired MPD had painstakingly consolidated the property out of three separate blocks, and now the opportunity has arisen for the first time to evaluate the entire porphyry system using modern exploration methods.

“Nobody has really understood this system and figured it out,” says Tornquist, “and that’s what we’re doing. It will be better accessible in May, so we will do a drill programme then.”

Future looks bright

With the wealth of historical information that Dunnedin has acquired, the chances that it will drill into some attractive mineralisation look good.

“The drilling really is about discovery at this stage,” says Tornquist.

“Our aim is to drill some exciting intercepts and recognise the big picture at each project. If we’re successful there’s a good chance that people will come knocking on our door. And it won’t break the bank, since the initial MPD programme is likely to cost less than C$500,000.”

The trajectory of the company is now clear. The most recent acquisition, on 4 March, of a new copper project in Arizona, only serves to emphasise the point. This is a company that’s going after copper.

The diamonds are still there, and Tornquist says the company will come back to them when market conditions permit.

But for the time being it’s all about the copper and drilling testing those big copper porphyry targets in BC and the US.

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Mon, 18 Mar 2019 14:06:00 -0400 https://www.proactiveinvestors.com/companies/news/216660/dunnedin-targets-major-copper-porphyry-discoveries-in-upcoming-exploration-campaigns-216660.html
<![CDATA[Media files - Dunnedin Ventures looks to strengthen its copper portfolio in North America ]]> https://www.proactiveinvestors.com/companies/stocktube/12619/dunnedin-ventures-looks-to-strengthen-its-copper-portfolio-in-north-america-12619.html Fri, 15 Mar 2019 12:05:00 -0400 https://www.proactiveinvestors.com/companies/stocktube/12619/dunnedin-ventures-looks-to-strengthen-its-copper-portfolio-in-north-america-12619.html