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dunav resources ltd (DNV) Details

Dunav Resources Ltd. engages in the acquisition, exploration, and development of mineral resource properties in Serbia. It holds mineral licenses related to the Tulare copper and gold project, the Surdulica molybdenum project, and other early stage projects. The company was formerly known as Queensland Minerals Ltd. and changed its name to Dunav Resources Ltd. in May 2011. Dunav Resources Ltd. was incorporated in 1996 and is headquartered in Longueuil, Canada.

Founded in 1996

dunav resources ltd (DNV) Top Compensated Officers

Executive Vice Chairman, Chief Executive Offi...
Total Annual Compensation: C$150.0K
Executive Chairman
Total Annual Compensation: C$150.0K
Chief Financial Officer
Total Annual Compensation: C$40.6K
Executive Vice President of Exploration, Dire...
Total Annual Compensation: C$81.1K
Vice President of Administration
Total Annual Compensation: C$69.0K
Compensation as of Fiscal Year 2012.

dunav resources ltd (DNV) Key Developments

Dunav Resources Ltd. Announces Board Changes

Dunav Resources Ltd. reported that Jonathan Goodman and John Wakeford have resigned as directors of the company due to other commitments. The company also announced that Rick Howes has been appointed to the board of directors. Mr. Howes has over 30 years' experience in the mining industry, and is currently president, chief executive officer, and a director of Dundee Precious Metals Inc.

Dunav Resources Ltd. Provides an Update on the Tulare Copper-Gold Porphyry Project, Serbia

Dunav Resources Ltd. presented an exploration update on its 100%-held Tulare Porphyry Project located in Southern Serbia. The 2013 Yellow Creek and Kiseljak Extension resource definition drilling program has been completed and the database has been closed off, with the data forwarded to AMC Consultants Limited (UK) for an independent National Instrument 43-101 compliant resource estimate. 0.21% CuEq cut-off ($1,400/oz. Au, $3.30/lb. Cu), 5m min. composite length, 5m max. internal dilution. AuEq= ((Au g/t 45.011) + (Cu% 72.753))/45.011, CuEq= ((Cu% 72.753) + (Au g/t 45.011))/72.753. 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 or ICPMS 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. The Tulare Porphyry Project comprises the Kiseljak copper-gold deposit, the nearby Yellow Creek copper-gold target area and the Bakrenjaca gold-base metal epithermal system. Yellow Creek: Wide-spaced drilling on a nominal 120 meter by 120 meter spacing on the Yellow Creek target area during 2013 was focused on better defining the copper-gold porphyry-style mineralization first discovered during late 2011 in order to develop a robust geological model required to support the generation of an initial National Instrument 43-101 compliant resource estimate. In total, nine diamond drill holes (YCDD031 to YCDD039) for a total of 2,722.5m, ten reverse circulation (RC) pre-collars (YCRC001 to YCRC010) for a total of 1,373m and three diamond drill hole 'tails' (YCDT002, YCDT004 & YCDT005) for a total of 952.8m were drilled on the project area during 2013. No significant intersections were generated from the RC and diamond 'tail' drilling portion of the program. A validated database has been delivered to independent mining consultants AMC in order to produce an initial NI 43-101 compliant resource estimate for the Yellow Creek target area. The initial Yellow Creek estimate is expected during second 2014.

Dunav Resources Ltd. Provides an Exploration Update on the Bakrenjaca Epithermal System, Part of the Tulare Project, Serbia

Dunav Resources Ltd. presented an exploration update on the Bakrenjaca epithermal system located approximately 3 km south of the Kiseljak copper-gold porphyry deposit in Southern Serbia. The Bakrenjaca epithermal system is divided into a northern area (Gubavce) and a southern area (Bakrenjaca). Highlights: During the second and third quarters of 2013 additional exploration drilling (diamond and reverse circulation) was completed at Gubavce and Bakrenjaca. This exploration drilling program was designed to follow-up on the encouraging 'scout' drilling results returned during first quarter of 2013. The area of mapped alteration and epithermal mineralization covers an area of approximately 1.5 km x 1 km and selected significant intersections 0.4 g/t AuEq cut-off ($1,300/oz. Au, $20/oz Ag, $3.00/lb. Cu, $0.90/lb. Pb, $0.90/lb. Zn). AuEq = ((Au g/t*41.7960)+(Ag g/t*0.6430)+(Cu%*66.1386)+(Pb%*19.8416)+(Zn%*19.8416))/41.7960. Intersections calculated using 3 meter minimum thickness, 3 meter maximum included waste. Diamond drill samples are PQ, HQ or NQ half core, using a nominal 1m sampling basis and weigh 3-6 kg. Reverse Circulation drill samples are collected dry on a 1m sampling basis and weigh 5kg. Assay method: Fire assay Au (50 g); Ag, Cu, Pb & Zn by aqua regia digestion with AAS and/or ICP-MS finish. Intercept widths do not necessarily represent true width. No top cut applied. Preliminary metallurgical testwork (flotation) has returned excellent metallurgical recoveries for all the elements of interest with average recoveries of 94% Au, 88% Ag, 97% Pb, 90% Cu and 98% Zn into less than 5% of the sample mass. In addition, preliminary testwork indicates that gravity recovery at a coarse grind of P80 150 microns has the potential to recover a significant proportion of the gold and silver. Dunav plans to review and assess the recently returned results of the 2013 drill program on the Bakrenjaca epithermal system during the 2013/2014 winter period so as to determine the overall economic potential with a particular focus on the Gubavce portion of the system. Given the encouraging preliminary metallurgical testwork received to date the Company believes that additional drilling may be warranted during the 2014 field season. Drilling at Bakrenjaca: A total of 6,200.5 meters (RC: 3,011m, diamond: 3,189.5m) have been completed over the Bakrenjaca epithermal target area during 2013. The level of surface oxidation is low, with sulfide mineralization commencing either at the surface or generally within 10 meters of the surface. The better drilling results were returned from the Gubavce target area where epithermal mineralization has now been outlined over a strike length of approximately 350 meters and mineralization remains open in multiple directions. Of particular note was the recognition that at Gubavce both previously recognized styles of epithermal mineralization occur within the same area. Wide and/or numerous mineralized intercepts per hole have been returned from the Gubavce drilling program. For the ten holes in the Gubavce target area (GURC001-010 and GUDD001) the average mineralized intercept per hole is 66 meters at a weighted gold equivalent average grade of 1.02g/t AuEq (using a 0.4g/t AuEq cut-off). Drill hole GUDD001 (498.7 m) remains the deepest hole drilled into the Gubavce target area and it is of particular interest that epithermal-style mineralization was intersected throughout the drill hole, which indicates that there is epithermal mineralization occurring over a minimum 400 meters vertical extent within the Bakrenjaca epithermal system. Drilling at the Bakrenjaca target area was generally unsuccessful in intersecting 'footwall-style' epithermal mineralization previously recognized in BKDD001 (11m @ 5.13g/t Au, 346g/t Ag, 1.19% Cu, 2.36% Pb and 1.86% Zn (14.33g/t AuEq)) and the controls to mineralization remain poorly understood in this area. Preliminary metallurgical testwork: Two composite samples were prepared from drill core material received during the initial four-hole 'scout' drilling program previously reported by the company on January 9, 2013. The composites were selected to represent the two styles of mineralization recognized to date: 'Hangingwall-style': 0.63g/t Au, 8.6g/t Ag, 0.12% Cu, 1.63% Pb & 2.28% Zn. 'Footwall-style': 4.90g/t Au, 297g/t Ag, 0.90% Cu, 1.89% Pb & 1.42% Zn. ICP analyses on both composites indicate that the samples contain only low levels of potentially detrimental elements such as arsenic, cadmium, nickel, etc. Petrographic studies indicated that the bulk mineralogy of the two composite samples is essentially the same. The predominant minerals are quartz and dolomite. The main sulfide minerals are pyrite, sphalerite, galena, chalcopyrite and marcasite. Silver may be present as freibergite, tetrahedrite, ruby silver and native silver. Rougher and cleaner gravity tests (indicate that a significant amount of gold and silver could be recovered by gravity process at a primary grind size of P80 of 150um. Differential flotation testwork worked very well and the majority of the lead, gold and silver report to the lead rougher concentrate and zinc reported to the zinc rougher concentrate. Indicative overall average recoveries for both composites to the rougher concentrates was 94% Au, 88% Ag, 97% Pb, 90% Cu & 98% Zn to <5% of the weight at a primary grind size of P80 of 150um. Preliminary open-circuit cleaning testwork (without re-grinding) has indicated that it may be possible to produce marketable-grade lead and zinc concentrates by using a conventional differential flotation process flowsheet.


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