Dunav Resources Ltd. Appoints Elaine Bennett as Director and Chair of Audit Committee of Board
Apr 25 13
Dunav Resources Ltd. reported that its board of directors has appointed Ms. Elaine Bennett as director and chair of the audit committee of the board. The appointment of Ms. Bennett fills the board vacancy created from the resignation of a director announced on March 7, 2013. Since 2008, Ms Bennett has been Vice President Finance and CFO for Sabina Gold & Silver Corp. Prior to joining Sabina, Ms. Bennett was VP Finance and CFO for Miramar Mining Corporation. Prior to that, she spent 10 years at the Con Mine in Yellowknife, NWT holding various positions including mine controller. Ms. Bennett is also director and chair of the audit committee of a junior gold exploration company listed on the TSXV.
Dunav Resources Ltd. Announces Resignation of Anthony Walsh as Director
Mar 7 13
Dunav Resources Ltd. announced that Anthony Walsh has resigned as a director of the Company. Mr. Walsh has indicated his desire to reduce the number of director positions he holds. Mr. Walsh has been a member of the board since 2007.
Dunav Resources Ltd. Provides an Exploration Update on the Tulare Copper-Gold Porphyry Project, Serbia
Feb 25 13
Dunav Resources Ltd. presented an exploration update on its 100%-held Tulare Porphyry Project located in Southern Serbia. 2012 diamond drilling results on the Yellow Creek, Calovica vis South, Kiseljak Extension and Trlica copper-gold porphyry targets have now been received and compiled. Recently completed exploration diamond drilling continues to confirm porphyry-style copper-gold mineralization within the Tulare Copper-Gold Porphyry cluster corridor, which has now been identified over 3,000 meters strike length. Selected intersections are listed below, calculated using a 0.20% CuEq cut-off grade: Dunav has recently announced the initial Kiseljak copper-gold mineral resource, part of the Tulare Copper-Gold Porphyry Project, which was prepared by AMC Consultants Limited (UK), an independent mining consulting firm. This initial mineral resource has been estimated at 300,500,000 tonnes grading an average of 0.27% copper and 0.26 g/t gold in the inferred resource category for 1.8 billion pounds of copper and 2.5 million ounces of gold, using a 0.25% copper equivalent cut-off. The Tulare Porphyry Copper-Gold Porphyry Project comprises the Kiseljak deposit and several additional porphyry targets, including Yellow Creek, Calovica vis South and Kiseljak Extension and the Bakrenjaca epithermal system. Dunav controls 100% of this newly identified porphyry cluster, located within the Lece Magmatic Complex. Exploration drilling to date has been focused on attempting to vector towards the potential center(s) of the Yellow Creek porphyry system and to define the overall potential `footprint' of mineralization. Wide-spaced drilling on a nominal 120 meter by 120 meter spacing continued within the target area during the latter part of 2012. Geology and ground magnetics suggest the potential for multiple `smaller' mineralized porphyry stocks within the target area and drilling late in the season was focused on the area located between Yellow Creek and the Kiseljak deposit. Drilling during 2013 is expected to continue on the Yellow Creek target area in order to support the geological model required to support the generation of an initial National Instrument 43-101-compliant resource estimate during the latter portion of 2013. Exploration completed during 2012 within the Tulare project area, focused on areas external to the principal area of resource definition drilling (Kiseljak), where additional diorite porphyry bodies had been identified through geological mapping, trenching and general prospecting. The Calovica vis South porphyry target, located 2 km south of the Kiseljak deposit, was drill tested with an initial seven hole diamond drill program for a total of 4,544.2 meters. Drill results indicate that a mineralized copper-gold porphyry system is present at Calovica vis South, which has now extended the northeast trending corridor of copper-gold porphyry mineralization, which extends from Kiseljak to Calovica vis South, to approximately 3 kilometers in length. An additional three diamond drill holes were drilled into the far southern portion of the Kiseljak deposit following the closure of the database and subsequent handover to AMC. Drillhole KIDD073 has now extended copper-gold porphyry-style mineralization to the south of the Kiseljak deposit and outside of the current resource model. Additional diamond drilling during 2013 is planned and would include targeted drilling to confirm copper-gold mineralization included in the 2012 resource modeling study but not classified. An initial six-hole, widely-spaced, diamond drilling program on the Trlica target area failed to generate any significant copper-gold porphyry-style mineralization; although some minor gold-only mineralization was intersected. Additional geological mapping is planned for this target area during 2013 with a particular focus on the potential for upper level, high-sulfidation (`exhaust vents') epithermal style of mineralization. The porphyries of the Tulare Porphyry Project represent typical calc-alkaline copper-gold porphyry deposits, with a subvertical pipe-like geometry, intruded into amphibolite, biotite-schist and andesitic volcanics/volcaniclastics. The mineralized porphyry system is associated with a series of hornblende-biotite-plagioclase-phyric porphyry stocks and dykes, which have been divided into three suites based on texture and association with copper-gold mineralization and alteration. The porphyry-style mineralization occurs as stock work and disseminated zones. Mineralization within the potassic zone primarily comprises quartz, chalcopyrite ± magnetite veinlets (0.1 to 10 mm thick) with subordinate bornite and disseminated chalcopyrite ± bornite. Variable and lesser amounts of digenite, chalcocite, covellite, molybdenite and pyrite occur together with occasional galena and sphalerite. Magnetite occurs both as disseminations and in quartz veinlets. Gold mineralization occurs as blebs within sulfides, particularly in bornite and chalcopyrite. Gold grades correlate strongly with copper grades. The Kiseljak copper-gold porphyry measures some 800 meters by 300 meters, where it is exposed at surface, and has been traced to a vertical depth of 800 meters to date. The Kiseljak mineralization remains open in several directions. Both the porphyry and the surrounding schist have been intruded by a series of generally barren, intra-mineralization to late diorite porphyry phases.