Aug 1 2013
Mr. Harvey Keats, Chief Executive Officer of Donner Metals Ltd. (“Donner” or the “Company”), provides an update on drilling at McLeod Deep, Bracemac-McLeod as well as on regional exploration targets. Results include the extension of massive and semi-massive sulphide mineralization, associated with extensive alteration, down plunge of McLeod Deep and a new intercept of zinc-rich sulphides immediately northwest of the Bracemac KT zone, which is currently being mined.
Additionally, a new sulphide discovery has been made on the North Flank JV property that grades 2.06% copper over 4.9 metres, located 13 kilometres northwest of the Bracemac-McLeod Mine and 7 kilometres northwest of Matagami mill.
McLeod Deep (Bracemac-McLeod JV)
Nine new intersections of massive and semi-massive sulphides are reported from the McLeod Deep Zone (Table 1). In addition to mineralized intersections within this zone, mineralization has been extended down-plunge of the Inferred Mineral Resource envelope (Figure 1) in diamond drill holes MC-13-30WA and MC-13-30WB. Both holes intersected well-developed pipe alteration below the sulphide mineralization suggesting the hydrothermal system is robust in the area. Drilling is on-going with four drills.
Bracemac-McLeod Mine Area (Bracemac-McLeod JV)
Exploration drilling is in progress between the Bracemac and McLeod zones. Six widely-spaced holes have been completed to date targeting the Key Tuffite horizon. Anomalous base metal values were encountered to the east of the Bracemac-KT zone. Results are reported in Table 2 and Figure 2. One drill is active in this area.
Three underground exploration holes were drilled immediately northwest of the Bracemac KT zone in the upper structural plate of the Key Tuffite Horizon (Figure 2). UBRC-EXP-001 intersected 6.8 metres of approximately 20% sphalerite, 50 metres from the main ramp in an area not previously known to be mineralized. Two additional holes intersected weak mineralization.
Regional Exploration (North Flank JV)
Six drill holes were completed in the DJV area located 7 kilometres northwest of the Matagami mill. Drilling returned the first discovery of semi-massive copper-rich sulphides within a 1.2 kilometre wide zone of chlorite-silica-pyrite alteration. Exploration in this area is targeting a newly identified trend of the favourable Key Tuffite Horizon that was first identified in 2012 (see news release dated February 21, 2012). DJV-13-105 intersected 2.06% copper over 4.9 metres (3.58 metres estimated true width) at the Key Tuffite Horizon underlain by extensive chlorite and silica alteration. DJV-13-103 returned an intercept of 3.44% copper over 0.90 metres in pipe alteration approximately 1 kilometre east of DJV-13-105. One drill is active in this area.
SUPPLEMENTARY INFORMATION
The Bracemac-McLeod deposit contains Proven and Probable Mineral Reserves of 3.7 million tonnes grading 9.60% zinc, 1.26% copper, 28.25 g/t silver and 0.43 g/t gold and commenced production on May 15, 2013. Inferred Mineral Resources of 2.6 million tonnes grading 8.79% zinc, 1.31% copper, 38.84 g/t silver and 1.06 g/t gold are located in proximity to the Mineral Reserves. The Company is a partner with Glencore in six separate joint venture properties in the Matagami base metal camp located in the Abitibi region of Québec. This joint venture partnership covers claims, mining licences and other direct mineral interests (collectively the “Matagami Project”) at either 50%/50% or 65%/35% Glencore / Donner joint venture interests (see property map posted at www.donnermetals.com). The Matagami Project covers prime volcanic stratigraphy in which high-grade zinc and copper massive sulphide deposits have been discovered and mined since 1963.
The Bracemac-McLeod Mine and area as well as the McLeod Deep exploration program are governed under the Bracemac-McLeod joint venture (65% Glencore – 35% Donner). The DJV area program is governed under the North Flank joint venture (50% Glencore – 50% Donner).
Additional information is available at www.donnermetals.com.