DNI Metals - Update
TORONTO, ON / ACCESSWIRE / March 6, 2019 / DNI Metals Inc. (DNI: CSE; DNMKF: OTC) (“DNI” or the “Company”) is pleased to provide the following update:
The Public consultation meetings for DNI’s Vohitsara and Marofody projects were held on February 22nd and 23rd.
DNI and the Office National pour l’Environnement Madagascar, (“ONE”), completed two days of technical reviews at Vohitsara and Marofody properties on December 6 and 7.
As per DNI’s press releases on November 8 and 20, 2018 the ONE must complete two site visits, a Technical review, and a Public consultation, both now have been completed.
The ONE group comprised of a panel of four people, from the following government offices;
Additional government officials that attended the meetings.
As part of the technical review, the ONE sent an official letter to DNI, asking for clarity on certain items. DNI has responded to all the technical questions.
DNI has entered into property purchase negotiations with selected Vohitsara land stakeholders required for mine development. Ninety-Nine percent of the people in the area want to see DNI develop a mine.
It was also decided at the public consultation meetings, that a committee would be formed to order to set the land lease prices, the compensation for crops and compensation for any residences that need to be moved. The Committee will be made up of representatives from the local villages, DNI, and government officials from the ministries of Land and agriculture.
Micon completed a site visit Jan. 28th through February 2nd, 2019.
During the site visit, it was realized that channel samples taken from trench 3, located approximately 500 metres north-east of the most northernly drilled holes, had never been sent to the laboratory for testing. From February 5th through the 8th, 83 samples from trench 3, and an additional 218 samples that had been misplaced from road cuttings and the drilling were split, and prepped, under the supervision of DNI’s consulting geologist and qualified person (“QP”), Jannie Leeuwner. Dan Weir, DNI’s CEO, and Raymond Borida, DNI’s CSR consultant, prepared all the documents for exportation. The samples were shipped to AGAT Laboratories in Mississauga, Ontario, Canada for assaying on February the 18th. AGAT has completed the testing on a rush basis, and the results are in the process of being compiled, by Jannie and Micon.
This additional data will be used in the Resource estimation.
Surrender of part of Mining Claim in Alberta
A new Biodiversity Stewardship Area (“BSA”)- Wildland Provincial Park, is being created in Alberta. DNI received $500,000 in compensation for the surrendering of part of permit no 930806412. Please see the link below for information on the new park.
DNI owns 5 permits in Alberta, numbers 930806406, 930806407, 930806408, 930806410, and 930806412. Information on the DNI’s Alberta permits can be found at:
Sale of Utah Gold Royalty
DNI has sold its Utah gold royalty for U$50,000, the money will be wired to DNI shortly.
DNI owned a 0.05% NSR on certain mining claims in Utah, USA.
DNI - CSE
DMNKF - OTC
For further information, contact:
DNI Metals Inc. - Dan Weir, CEO 416-595-1195
Also visit www.dnimetals.com
This press release contains forward-looking statements, including statements that relate to, among other things, the following: (i) the geological characteristics of the projects; (ii) the potential to discover additional mineralization and to extend the area of mineralization; (iii) the potential to raise additional financing; and (iv) the potential to expand and upgrade the resource estimate of the projects. Forward-looking information is subject to the risks, uncertainties and other important factors that could cause the Company’s actual performance to differ materially from that expressed in or implied by such statements. Such factors include, but are not limited to volatility and sensitivity to market metal prices, impact of change in foreign exchange rates, interest rates, imprecision in resource estimates, imprecision in opinions on geology, environmental risks including increased regulatory burdens, unexpected geological conditions, adverse mining conditions, changes in government regulations and policies, including laws and policies; and failure to obtain necessary permits and approvals from government authorities, and other development and operating risks, and can generally be identified by the use of words such as “may”, “will”, “could”, “should”, “would”, “likely”, “possible”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “plan”, “objective”, “hope” and “continue” (or the negative thereof) and words and expressions of similar import. Although DNI believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed on such statements. Certain material factors or assumptions are applied in making forward-looking statements, and actual results may differ materially from those expressed or implied in such statements. Additional information about material factors that could cause actual results to differ materially from expectations and about material factors or assumptions applied in making forward-looking statements may be found in the Company’s most recent annual and interim Management’s Discussion and Analysis under “Risk and Uncertainties” as well as in other public disclosure documents filed with Canadian securities regulatory authorities. Forward-looking statements are provided for the purpose of providing information about management’s current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. The Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements contained in this document, whether as a result of new information, future events or otherwise, except as required by law.
SOURCE: DNI Metals Inc.