This new extensive southern package, referred to as the Nanuq South project, boosts Dunsmuir’s holdings in the Western Churchill Province to 5,933 sq. km. Dunsmuir acquired its original land position in February based on the results of a 2002 program of till sampling, conducted as follow-up work to previous sampling by
Dunsmuir collected 180 additional till samples and outlined a well-defined, 34-km-long anomalous corridor of indicator minerals. Last year’s sampling also shows promising results in two other areas, suggesting the presence of multiple mineral trains.
Dunsmuir’s decision to add to its Nanuq landholdings was prompted by its own encouraging results, along with additional positive microprobe work on indicator minerals recovered by BHP Billiton from various sampling mediums outside of the original prospecting permits.
As part of an agreement with BHP Billiton Diamonds, Dunsmuir was given proprietary access to its extensive indicator mineral database. Under terms of the agreement, Dunsmuir is required to spend $1 million each year exploring the specific areas it chooses from BHP Billiton’s database. Should Dunsmuir make a kimberlite discovery and advance it to the point of a 25-tonne bulk sample, BHP will have the right to back-in for a 60% interest by reimbursing Dunsmuir for 300% of its project expenditures to that date. If BHP elects to fund the project through to production, it can earn a further 10%.
This summer at Nanuq, Dunsmuir will be carrying out a program of prospecting combined with regional and infill heavy mineral sampling. The work is designed to double the amount of previous samples. An airborne geophysical survey is planned for later in the summer.
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