TORONTO, May 27, 2011 /CNW/ - DNI Metals Inc. (DNI:TSX-Ven)(DG7:FSE) has been requested by regulatory authorities to comment on the sudden
rise in trading volume and value of its shares on the TSX Venture
Exchange. DNI announces that there are no material developments which
can account for the foregoing activities.
DNI continues to focus all of its efforts to advance its polymetallic
black shale Properties in Alberta. By way of a summary update in the
foregoing regard, DNI is pleased to announce that analytical work,
leaching tests and a mineral resource study have commenced on one of
its six polymetallic black shale projects, Alberta. This work is
relying on drill core samples collected from the recent winter drilling
program over the Buckton Potential Mineral Deposit, which comprises one
of six mineral systems identified by DNI on its 2,720 square kilometer
land position, located approximately 120 kilometers north of Fort
McMurray in the Athabasca region, Alberta. Analytical results are
expected to be in hand by the end of June.
As previously announced (press March 7, 2011), five holes were cored
over approximately 3 square kilometres of the Buckton Zone to enable
preparation of a resource study to upgrade a portion of the Buckton
Potential Mineral Deposit blocked over the Zone into a NI-43-101
compliant classified resource. APEX Geoscience Ltd., of Edmonton, has
been retained to prepare the resource study which is scheduled for
completion in August.
As outlined in the technical report for the Property (announced
Nov10/2008), the Buckton Potential Mineral Deposit comprises 1.2-1.3
billion short tons of polymetallic mineralization extending over 26
square kilometers hosted in the Second White Speckled Shale. The
foregoing potential deposit is open in three directions to at least 6km
to its north and south. Together with historic drilling which was
reviewed and re-analyzed by DNI in 2009, DNI's recent winter drilling
is expected to provide sufficient information to capture approximately
10%-15% of the potential deposit into an inferred resource.
DNI is in the process of updating the above technical report for the
Property to incorporate incremental information collected since 2008,
notably leaching and bioleaching metals recoveries results previously
announced in press along with additional corroborating results from
broader testwork. The revision will also address upgrading the size of
the two Potential Mineral Deposits outlined in the report in view of
additional rock density measurements data collected during the past two
DNI continues to focus its efforts on its polymetallic black shale
Properties in Alberta, and on its carried interest in the diamond
discovery on its Attawapiskat Property, Ontario.
Neither the 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.
The Qualified Person in connection with DNI's Alberta polymetallic
shale projects is Shahé F. Sabag PGeo, DNI's president/CEO.
DNI - TSX Venture
DG7 - Frankfurt
Issued: 59,811,884 (post financing)
SOURCE DNI Metals Inc.
For further information:
DNI Metals Inc. - Shahe Sabag, President & CEO or Denis Clement, Chairman - 416-595-1195
email firstname.lastname@example.org. Also visit www.dnimetals.com