Dunav Resources Provides an Update on Its Degrmen Gold-Copper Porphyry Project, Serbia
17 April 2014 - 3:50PM
Marketwired
Dunav Resources Provides an Update on Its Degrmen Gold-Copper
Porphyry Project, Serbia
LONGUEUIL, QUEBEC--(Marketwired - Apr 17, 2014) - Dunav
Resources Ltd. (TSX-VENTURE:DNV) (the "Company" or "Dunav") is
pleased to present an exploration update on its 100% held Degrmen
Porphyry Project located 20 km northwest of its Kiseljak
copper-gold porphyry deposit in Southern Serbia.
- HIGHLIGHTS
- Based on the increase in the understanding of the geology and
controls of mineralization gained during the initial wide-spaced
diamond drilling program at Degrmen, a short, follow up diamond
drilling program was completed during late 2013.
- Diamond drilling has returned the following, selected, moderate
to strong intercepts, calculated using a 0.33g/t AuEq cut-off grade
(refer to Table 1 for a full listing of significant
intersections):
Hole ID |
From (m) |
To (m) |
Interval (m) |
Au (g/t) |
Cu (%) |
AuEq (g/t) |
CuEq (%) |
DGRDD012* |
23.0 |
44.0 |
21.0 |
0.30 |
0.09 |
0.45 |
0.28 |
DGRDD012* |
51.0 |
79.0 |
28.0 |
0.19 |
0.10 |
0.35 |
0.22 |
DGRDD012* |
94.0 |
136.0 |
42.0 |
0.36 |
0.17 |
0.64 |
0.39 |
DGRDD012* |
142.0 |
173.0 |
31.0 |
0.27 |
0.14 |
0.50 |
0.31 |
DGRDD012* |
179.0 |
203.1 |
24.1 |
0.36 |
0.13 |
0.56 |
0.35 |
DGRDD013* |
3.0 |
41.0 |
38.0 |
0.29 |
0.07 |
0.41 |
0.25 |
DGRDD013* |
263.0 |
411.0 |
148.0 |
0.62 |
0.18 |
0.92 |
0.57 |
DGRDD015 |
35.0 |
179.0 |
144.0 |
0.37 |
0.13 |
0.58 |
0.36 |
DGRDD015 |
275.0 |
390.0 |
115.0 |
0.36 |
0.11 |
0.53 |
0.33 |
- 0.33g/t AuEq cut-off
($1,400/oz. Au, $3.30/lb. Cu), 5m minimum composite length, 5m
maximum internal dilution. |
|
- AuEq = ((Au g/t*45.01) +
(Cu%*72.75))/45.01 |
|
- CuEq = ((Cu%*72.75) + (Au g/t
*45.01))/72.75 |
|
- Metal prices used are based on the 2 year
trailing average of the monthly gold (spot) and copper (grade A
cathode) prices. |
- Diamond drill samples are PQ,
HQ or NQ half core, using a nominal 1m sampling basis and weigh
~3-6kg. |
- Assay method: Fire assay Au
(50g); Cu by aqua regia digestion with AAS finish. |
- Intercept widths do not
necessarily represent true width. |
- No top cut applied. |
- (*) Drill hole terminates in
mineralization i.e. mineralization remains open at depth. |
- Eight diamond drill holes were completed for a total of
2,293.5m.
- The objective of the Phase 2 exploration program was to define
more clearly the stronger gold-copper mineralization in the
northern portion of the system, together with further defining the
extents of the mineralized porphyry system.
- Dunav has selected two, large, representative, composite
samples from its diamond core material from the Degrmen Porphyry
Project for initial metallurgical characterization test work
focusing on flotation. Final test work results are expected during
Q2 2014.
- Please see the following link to view all Degrmen Porphyry
Project drill holes located spatially in three dimensions:
http://www.corebox.net/properties/degrmen-porphyry-project.
- GEOLOGY AND MINERALIZATION STYLE
- The Degrmen Porphyry Project area lies within the Lece Volcanic
Complex of southern Serbia; the second largest magmatic complex in
Serbia after the Timok Magmatic Complex.
- The Degrmen porphyry represents a typical calc-alkaline
gold-copper porphyry-style of deposit, with a subvertical pipe-like
geometry, intruded into an andesitic volcanic and volcaniclastic
sedimentary sequence.
- The mineralized porphyry system is associated with a series of
hornblende-phyric diorite porphyry stocks and dykes.
- Gold and copper in outcrop and diamond core is associated with
potassic alteration which is centered on the diorite porphyry
stocks. Better grades are associated with a higher density of
quartz-magnetite-chalcopyrite vein networks or with hydrothermal
breccia together with the introduction of hydrothermal
K-feldspar.
- A sequence of mineralized stocks has been identified. The
earliest intrusives are higher grade.
- Intense phyllic alteration lies at higher elevation and
surrounds the mineralized rocks. Local areas of enhanced gold but
low copper are present within the phyllic halo close to the
potassic zones.
- The Degrmen gold-copper porphyry is approximately 1,000 meters
by 350 meters, where it is exposed at surface, and has been traced
to a vertical depth of approximately 400 meters to date. The
deposit remains open at depth.
- DRILLING AT DEGRMEN
- Initial wide-spaced exploration drilling (nominal 320 meters by
160 meters) commenced on the Degrmen target area in April 2013 and
was completed in July 2013 (see Dunav Press Release dated August 26
2013).
- During the Phase 2 drill program a total of 2,293.5 meters of
exploration drilling was completed in eight drill holes; diamond
core recovery was excellent throughout.
- Refer to Table 1 for a summary of all Degrmen Phase 2
significant intersections at a 0.33g/t gold equivalent (AuEq)
cut-off.
- Refer to Figures 1 and 2 for the location of all diamond
drilling to date together with a representative long-section
through the Degrmen target area.
- Access to the area is excellent, via sealed roads, together
with a well-developed secondary road network within the project
area. The rail line is located approximately 3 km west (down
gradient) from the project area; reticulated power and water,
similarly, pass close to the project area. See Figure 3 for an
overview of the well-established infrastructure setting at
Degrmen.
- SAMPLING AND ANALYSIS
Diamond drill core has been prepared at the laboratory facility
at Bor and assayed at the SGS managed laboratory at Bor. Diamond
drill samples have been assayed for gold by 50 gram fire assay with
an AAS finish whilst copper, silver and molybdenum have been
analysed using an aqua regia digest with an AAS finish. A one metre
sampling interval has been used where possible for the Degrmen
Porphyry Project diamond drilling program; all drilled diamond core
is routinely sampled and sent for assay. Half core is routinely
submitted to the laboratory for analysis. Following Dunav standard
quality assurance procedures, a full suite of field and laboratory
duplicates and replicates along with internationally accredited
standards and blanks, have been submitted with each batch of
samples.
The technical information contained in this press release was
prepared and approved by Dr Julian F. H. Barnes, FAusIMM, MAIG, a
special consultant to the Company. Dr. Barnes is a 'qualified
person' within the meaning of that term under NI 43-101.
About Dunav Resources Ltd.: Dunav Resources is a mineral
exploration company focused on the acquisition, exploration and
development of mineral properties in Serbia. Additional information
about the Company is available on SEDAR at www.sedar.com and at
www.dunavresources.com.
Dunav is well-capitalized, with approximately $7.1 million in
its treasury at March 31, 2014, which it plans to use for the
exploration and development of its mineral projects in Serbia.
Dunav's issued and outstanding share capital totals 175,319,442
common shares, of which approximately 45.5% is held by Dundee
Precious Metals Inc.
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 press release.
Cautionary Statement
This press release contains forward-looking information and
readers are cautioned that actual results may vary. In
particular, this press release contains statements concerning
exploration results and geological interpretation, metallurgical
testing, and the potential of the Degrmen Porphyry Project. These
statements are subject to various risks and uncertainties,
including financial and operational. A lot of work and expenditures
will be required to determine the potential of the project.
Although the Company believes in light of the experience of its
officers and directors, current conditions and expected future
developments and other factors that have been considered
appropriate that the expectations reflected in this forward-looking
information are reasonable, undue reliance should not be placed on
them because the Company can give no assurance that they will prove
to be correct. Forward-looking information depends on assumptions
and other factors, all of which may cause actual results or events
to differ materially from those anticipated in such forward-looking
information. The forward-looking statements contained in this press
release are made as of the date hereof and the Company undertakes
no obligations to update publicly or revise any forward-looking
statements or information, unless so required by applicable
securities laws.
Figures and a table are available at the following link:
http://media3.marketwire.com/docs/940389a_tables.pdf
Dunav Resources Ltd.James CrombiePresident and Chief Executive
Officer+1.450.640.0810info@dunavresources.comwww.dunavresources.com
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