A Vancouver-based miner is putting the territory of Nunavut more firmly on the map as a haven for diamond finds.
This morning, Dunnedin Ventures Inc. (TSX-Venture:DVI) announced results from 109 till samples collected in the Josephine Target Area (JTA) last fall. Results defined an area about three square kilometers for potential diamond sources at the head of the JTA, a trend of abundant high-quality diamond indicator minerals (DIMs) for which no source is known yet.
DVI collected approximately 750 till samples in the JTA during the fall, of which 109 priority samples have been analyzed by a Kelowna-based lab. Superior DIM chemistry in these recent results confirms that the JTA is the most prospective area on the Kahuna property to host significantly what is known as diamondiferous kimberlite.
President Claudia Tornquist calls the JTA "the most intriguing and prospective area on the Kahuna project," adding, “We believe it has exceptional potential for the discovery of one or several large diamond sources.”
Investors seemed to agree shortly after noon EDT Wednesday, as they drove shares up half a cent, or 6.7%, to eight cents, on volume of 263,000 shares.