VANCOUVER, BRITISH COLUMBIA, May 24, 2012 (MARKETWIRE via COMTEX) — Dundarave Resources Inc. CA:DDX 0.00% (the “Company”) is pleased to announce that it has recently completed a 1050 line kilometer, helicopter-borne, magnetic gradiometer survey over its 6000 hectare Jessie Creek property, located immediately north of the town of Merritt, B.C. The Company subsequently contracted Quantec Geoscience Ltd. to carry out an induced polarization survey on the property which is scheduled to commence in June.
The airborne survey and subsequent ground verification have confirmed the presence of two separate, porphyry copper systems; one alkaline type (eg. Afton, Copper Mountain) and one calc-alkaline type (eg. Highland Valley Copper), much of which is covered by overburden of glacial origin.
A prominent north-south fault has been clearly shown on the airborne magnetics to offset the eastern portion of both systems approximately two kilometers to the south and is interpreted to be a deep-seated, long-lived structure possibly genetically related to both porphyry systems. In addition, prominent sets of northeast and northwesterly trending lineaments and at least two circular features were outlined by the survey.
The alkaline system, located in the southern part of the property is known to have 6 historical copper showings of both skarn and intrusive hosted affinities. The calc-alkaline system, located in the northern half of the property has three historical zones of mineralization/alteration. The most prominent of these, known as the SB Zone is associated with a circular magnetic feature as well as sericitic and alkalic alteration. Locally a breccciated phase containing strong, potassic (Kspar) alteration is present.
The Company is presently completing a grid for an extensive, induced polarization/resistivity survey, which is expected to commence in the first week of June. This survey will be augmented by detailed surface mapping and prospecting to delineate targets for drill testing.
The technical information contained in this news release has been reviewed and approved by James M. Dawson, P. Eng., who is a qualified person as defined by national Instrument 43-101.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Dundarave Resources Inc.
Paul Matysek, M.Sc., P.Geo.
President & CEO
800 863-1551
SOURCE: Dundarave Resources Inc.