DNI Metals - Initial drill Results that include 4.5m of 10.59% Graphitic Carbon
Toronto, July 24, 2017 - DNI Metals Inc. (DNI: CSE) (OTC Pink: DMNKF) ("DNI" or the "Company") Highlights — First 3 holes from the Main Zone
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VHT0019: 19.50m @ 6.12% GC, from 10.00m (incl. 4.50m @ 10.59% GC, from 19.00m);
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VHT0025: 11.50m @ 7.23% GC, from surface;
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VHT0016: 12.00m @ 4.14% GC from 8.50m & 4.50m @ 5.20% GC, from 25.00m.
DNI Is pleased to announce the following (refer Figure 1 and Table 1 following):
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Receipt of the first batch of drilling assay results from its Vohitsara Graphite Project in Madagascar, including: six (6) mineralised holes from the Southwest Zone ("SW Zone") & the first three (3) holes from the Main Zone;
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Drilling has confirmed that free-dig saprolitic weathered material has been developed to depths of 17m to 42m below surface; averaging 28m;
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Forty-one holes for 1,235m have been completed to date, with additional assays due shortly.
Table 1: Significant Drilling Results:
To view an enhanced version of Table 1: Significant Drilling Results, please visit:
[http://orders.newsfilecorp.com/files/1803/28118_a1500914415658_5.jpg]
A full listing of all 185 assay results is appended at the back of this document.
Disclosure: Note that insufficient geological data currently exist to accurately determine true mineralisation widths as compared to intersection widths as listed in Table 1 above. Note also that the intersected mineralisation is hosted within weathered in-situ saprolitic material and is known to be broadly disseminated within this regolith horizon in the area currently being tested by drilling.
Dan Weir, CEO, commented, "We are very excited about these results. The first three (3) holes in the main zone, have all hit solid graphite mineralization. Getting 19.50m of 6.12% Cg that includes 4.50m of 10.59% in Hole 19, is well above the average tenor of mineralisation for this area."
Drill Collars:
To view an enhanced version of the Drill Collars, please visit:
[http://orders.newsfilecorp.com/files/1803/28118_a1500914415814_18.jpg]
All representative samples were prepared and collected by or under supervision of DNI's Country Manager, Steven Goertz. Mr. Goertz is a Geologist and is a Qualified Person under NI43-101 regulations. Mr. Goertz has approved this Press release.
QAQC: Standards every 20 samples - within acceptable limits / Duplicates averaging every 10 samples - results comparable to primary assays. AGAST also have internal QAQC procedures - passed.
The samples were processed at AGAT Laboratories, in Ontario, Canada. Graphitic carbon assays were performed using a modified infrared assay method. This method is preferable to other industry-accepted assay methods; inclusive of varying forms of Loss on Ignition (LOI) testing. All analysis was preformed using LECO instruments.
About DNI Metals
Certain advisors and directors of DNI have significant operational experience at historical hard rock graphite mines in Canada (e.g. Ontario and Quebec) and Australia. Between them, they have built three (3) processing plants and designed two (2) others; all, which were shut down in the 1990,'s due to increased Chinese competition. Keith Minty, a director, previously worked at Cal Graphite near Kearny, Ontario.
It was our team's understanding of the high production and capital expenditure costs associated with so-called "hard rock" graphite mining that inspired DNI to search for saprolite-hosted graphite deposits.
Certain parts Madagascar and Brazil, produce graphite from weathered material called saprolite.
According to Dictionary.com, saprolite is described as:
"Soft, thoroughly decomposed and porous rock, often rich in clay, formed by the in place chemical weathering of igneous, metamorphic, or sedimentary rocks. Saprolite is especially common in humid and tropical climates. It is usually reddish brown or grayish white and contains those structures (such as cross-stratification) that were present in the original rock from which it formed."
DNI owns a commercially permitted, saprolite-hosted graphite deposit in Madagascar; located 50kms from the country's main seaport. The deposit is located less than two (2) kms from the paved national highway. DNI intends to develop the Vohitsara project, should the economic viability and technical feasibility be established. DNI has not yet established mineral resources or mineral reserves supported by a PEA or mining study (PFS or FS).
DNI has a graphite wholesale business, in which it buys and sells high quality graphite. This business has shown a steady increase in volume over the past year.
Steven Goertz (MAusIMM, MAIG), who is a qualified person, approved the technical disclosure in this news release.
DNI — Canadian Securities Exchange
DMNKF - OTC Pink
Issued: 62,968,155
For further information, contact:
DNI Metals Inc. — Dan Weir, CEO 416-595-1195
DanWeir@dnimetals.com
Also visit www.dnimetals.com
We seek Safe Harbour. This announcement may include forward looking statements. While these statements represent DNI's best current judgment, they are subject to risks and uncertainties that could cause actual results to vary, including risk factors listed in DNI's Annual Information Form and its MD&A's, all of which are available from SEDAR and on its website.
Figure 1: Planned & completed drilling & trenching at the Vohitsara Project.
To view an enhanced version of Figure 1, please visit:
[http://orders.newsfilecorp.com/files/1803/28118_a1500914415939_15.jpg]
APPENDIX 1 — ASSAY RESULTS — DRILLING:
Appendix 1a - Assay Results - Drilling
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Appendix 1b - Assay Results - Drilling
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Appendix 1c - Assay Results - Drilling
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Appendix 1d - Assay Results - Drilling
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