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darnley bay resources ltd (DBL) Details

Darnley Bay Resources Limited, an exploration stage company, engages in the exploration and development of base metals and diamonds in the Northwest Territories, Canada. It primarily explores for base metals and diamonds on its 4,557 square kilometers land located near Paulatuk, Northwest Territories. The company also holds 23 claims and 10 leases for diamond exploration on the Parry Peninsula northeast of Paulatuk. Darnley Bay Resources Limited was founded in 1993 and is headquartered in Toronto, Canada.

Founded in 1993

darnley bay resources ltd (DBL) Top Compensated Officers

Chief Financial Officer and Director
Total Annual Compensation: C$60.5K
Compensation as of Fiscal Year 2012.

darnley bay resources ltd (DBL) Key Developments

Darnley Bay Resources Discovers Two New Magneto-Telluric Anomalies

Darnley Bay Resources Ltd. announced the discovery of two new large magneto-telluric (MT) anomalies at its 100% owned Darnley Bay Property, located near Paulatuk, Northwest Territories. Like the first MT anomaly - reported, the new anomalies are spatially coincident with previously-discovered gravity anomalies, are considered good to moderate conductive zones and appear to be hosted by prospective Proterozoic rocks. They are located respectively two and twelve kilometres east of the first MT anomaly. Darnley Bay received the latest 3D inversion results from EMpulse Geophysics Ltd, the geophysical contractor. The new inversions not only used the magnetic field tipper data, but also included static shift analysis to minimise near surface geologic noise and to better image the apparent resistivity distribution at depth. The new 3D-inversion model revealed: On the North Line, 12 kilometers east of the first anomaly, a 1.5x3.5 kilometres anomaly with a maximum thickness of 800 metres, its center being at elevation -2,000 metres (below sea level), It is considered to be a moderate to good conductive zone with apparent resistivity values ranging from 32 to 8.9 Ohm-m. On the North Line, two kilometres east of the first anomaly, a 1.0 x 2.0 kilometres anomaly with maximum thickness of 600 metres, centered at elevation -1,300 metres with apparent resistivity between 32 Ohm-m and 15.1 Ohm-m. On the South and East Lines, three weaker anomalies (80 to 45 Ohm-m), with dimensions of 1.0x1.0-3.0 kilometres between elevations -1,000 to -2,400 metres.

Darnley Bay Resources Limited Announces Discovery of a Large Magneto-Telluric (MT) Anomaly at its Darnley Bay Property, Located Near Paulatuk, Northwest Territories; Appoints Chris Irwin as Corporate Secretary

Darnley Bay Resources Limited announced the discovery of a large magneto-telluric (MT) anomaly at its 100% owned Darnley Bay Property, located near Paulatuk, Northwest Territories. Importantly, the new anomaly is spatially coincident with previously-discovered gravity and magnetic anomalies. A 3D-inversion model of the August 2013 MT survey revealed a conductive zone of approximately 3.5 kilometres long, 1,000 metres wide and 250 to 750 metres thick, at a depth of 1,500 metres. The anomaly is considered a good to moderate conductor with apparent resistivity between 10 and 30 Ohm-metres. It is favorably located within prospective Proterozoic rocks and is bounded to the west by a fault, interpreted from previous seismic and magnetic surveys. The extent, depth, conductivity and the geological setting of the MT anomaly fit the metalogenetic exploration models Darnley Bay is aiming for: either a copper-nickel magmatic model (example: Sudbury in Ontario or Norilsk in Russia) or an Iron Oxide Copper Gold model (example: Olympic Dam in Australia). The MT anomaly is 1.5 kilometres west of diamond drill hole DBR-001, the only deep hole completed on the Property. This vertical hole was spotted by geoscientists from DBL and Falconbridge in 2000 and reached the depth of 1,800 meters. DBL was searching for Sudbury style nickel-copper mineralization, and selected this location for deep drilling because it is one of the few areas where there are overlapping gravity and magnetic anomalies. The hole was stopped for technical reasons and did not explain the anomalies. The Darnley Bay Property covers a total of 456,000 hectares with a series of mineral concessions and prospecting permits obtained from the Inuvialuit Regional Corporation and the Canadian Government. The regional gravity anomaly has absolute amplitude of 132 mGal (milli-gals), while the magnetism reaches 1,350 nT (nano-teslas). The source of this anomaly is thought by DBL staff to be a large and deep mafic-ultramafic intrusion, the type underlying world class base metal mining camps, with the mineralization being at shallower depth than the main intrusion itself. It is thought that it was formed during the regional Franklin or the Mackenzie magmatic events, both Proterozoic in age (720 million years and 1,270 million years respectively). Darnley Bay announced the appointment of Mr. Chris Irwin as Corporate Secretary. Mr. Irwin has over 19 years of experience in advising public mineral exploration companies on a variety of issues including: takeover bids, credit facilities, agency transactions, private placements, initial public offerings (IPO) and credit facilities. During his career he has served as an officer and/or director of several junior mining companies including: Canada Lithium Corp.; Trelawney Mining and Exploration Inc.; Roscan Minerals Corporations; Southern Star Resources; and Laramide Resources Ltd., to name a few. He has been a member of the Law Society of Upper Canada since 1996.

Darnley Bay Resources Ltd., Annual General Meeting, Jun 27, 2013

Darnley Bay Resources Ltd., Annual General Meeting, Jun 27, 2013., at 10:00 US Eastern Standard Time. Location: 4 King Street Wes. Agenda: To fix the number of directors for the ensuing year at seven; to elect the directors of the company; to appoint the auditors of the company and to authorize the directors to fix their remuneration; and to transact such other business as may properly come before the meeting.


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