DNI COMMENTS ON SUDDEN RISE IN VALUE AND TRADING OF ITS SHARES
27 Mai 2011 - 6:01PM
PR Newswire (Canada)
TORONTO, May 27, 2011 /CNW/ -- TORONTO, May 27, 2011 /CNW/ - DNI
Metals Inc. (DNI:TSX-Ven)(DG7:FSE) has been requested by regulatory
authorities to comment on the sudden rise in trading volume and
value of its shares on the TSX Venture Exchange. DNI announces that
there are no material developments which can account for the
foregoing activities. DNI continues to focus all of its efforts to
advance its polymetallic black shale Properties in Alberta. By way
of a summary update in the foregoing regard, DNI is pleased to
announce that analytical work, leaching tests and a mineral
resource study have commenced on one of its six polymetallic black
shale projects, Alberta. This work is relying on drill core samples
collected from the recent winter drilling program over the Buckton
Potential Mineral Deposit, which comprises one of six mineral
systems identified by DNI on its 2,720 square kilometer land
position, located approximately 120 kilometers north of Fort
McMurray in the Athabasca region, Alberta. Analytical results are
expected to be in hand by the end of June. As previously announced
(press March 7, 2011), five holes were cored over approximately 3
square kilometres of the Buckton Zone to enable preparation of a
resource study to upgrade a portion of the Buckton Potential
Mineral Deposit blocked over the Zone into a NI-43-101 compliant
classified resource. APEX Geoscience Ltd., of Edmonton, has been
retained to prepare the resource study which is scheduled for
completion in August. As outlined in the technical report for the
Property (announced Nov10/2008), the Buckton Potential Mineral
Deposit comprises 1.2-1.3 billion short tons of polymetallic
mineralization extending over 26 square kilometers hosted in the
Second White Speckled Shale. The foregoing potential deposit is
open in three directions to at least 6km to its north and south.
Together with historic drilling which was reviewed and re-analyzed
by DNI in 2009, DNI's recent winter drilling is expected to
provide sufficient information to capture approximately 10%-15% of
the potential deposit into an inferred resource. DNI is in the
process of updating the above technical report for the Property to
incorporate incremental information collected since 2008, notably
leaching and bioleaching metals recoveries results previously
announced in press along with additional corroborating results from
broader testwork. The revision will also address upgrading the size
of the two Potential Mineral Deposits outlined in the report in
view of additional rock density measurements data collected during
the past two years. DNI continues to focus its efforts on its
polymetallic black shale Properties in Alberta, and on its carried
interest in the diamond discovery on its Attawapiskat Property,
Ontario. Neither the 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. The Qualified Person in connection with
DNI's Alberta polymetallic shale projects is Shahé F. Sabag PGeo,
DNI's president/CEO. DNI - TSX Venture DG7 - Frankfurt Issued:
59,811,884 (post financing) To view this news release in HTML
formatting, please use the following URL:
http://www.newswire.ca/en/releases/archive/May2011/27/c8259.html p
DNI Metals Inc. - Shahe Sabag, President & CEO or Denis
Clement, Chairman - 416-595-1195br/ email a
href="mailto:ir@dnimetals.com" cr="true"ir@dnimetals.com/a. Also
visit a href="http://www.dnimetals.com"
cr="true"www.dnimetals.com/a /p
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