Dunnedin Ventures has completed acquisition of 100% stakes in Mohave copper-molybdenum-silver porphyry project owned by Bluestone Resources.
Canada-based diamond exploration company Dunnedin Ventures has closed the acquisition of 100% of the Mohave copper-molybdenum-silver porphyry project from Bluestone Resources, a mining development & exploration company.
Dunnedin said that the Mohave project is a 10km2 mineral producing property located in the province of Arizona, 33kms west of Freeport McMoran’s Bagdad copper porphyry mine, situated west of highway 93 that links Las Vegas and Phoenix.
The limited exploration conducted at the Mohave project showed potential to discover a sizeable porphyry style copper-molybdenum-silver (Cu-Mo-Ag) deposit
The historic geological, geochemical and geophysical data also showed that the project has many hallmarks of a silica-rich calc‐alkalic porphyry system including Cu-Mo-Ag geochemical anomalies and structural controls associated with Laramide intrusions.
The historic values of 0.49% Cu over 59.4m, 0.2% Cu, 0.011% Mo, and 2.35g/mt Ag over 65.8m and 0.3% Cu, 0.01% Mo, and 2.54g/mt Ag over 70.7m are reported at the project.
Dunnedin president and CEO Claudia Tornquist said: “We are thrilled to close this acquisition which expands Dunnedin’s copper portfolio to three advanced stage porphyry projects in North America.
“At Mohave we will benefit from the excellent work done by the previous operator Bluestone from whom we inherited a comprehensive suite of high-quality exploration data. In 2011 Bluestone drilled 11 core holes and reported anomalous mineralization over significant intervals in all holes.”
A 4km long and 3 km wide Induced Polarization (IP)/chargeability anomaly bounded by semi‐circular structure/faults coinciding with strong Cu-Mo and Ag rock and soil geochemical anomalies is reported, along with presence of supergene oxidation of a quartz vein pyrite‐chalcopyrite hypogene sulfide system.
The previous operator Bluestone has carried out comprehensive work recently, which provided Dunnedin with a solid framework to resume exploration, and Bluestone has also reported favourable mineralization at surface to depths of 390m from the first drill program.
Tornquist added: “The work to date strongly indicates that there is a large system of porphyry style Cu-Mo-Ag mineralization present at Mohave and we have a number of promising drill targets which we intend to follow-up on in the fall, after we complete the summer exploration programs on our Canadian porphyry projects MPD and Trapper.”