Donner Metals Ltd.-Exploration Update: 63,000 Metres of Drilling in 2013
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/20/12 -- Mr. Harvey Keats, Chief Executive Officer of Donner Metals Ltd. (TSX VENTURE: DON)(FRANKFURT: D4M) ("Donner" or the "Company"), provides an exploration update for the Matagami Project as reported to the Company by partner and project operator Xstrata Canada Corporation-Xstrata Zinc Canada Division ("Xstrata Zinc"). Donner has approved a 28,000-metre exploration drill program that will be performed by partner and project operator Xstrata Zinc. The program will be run concurrently with the 35,000-metre drill program announced on October 31, 2012 for the McLeod Deep Zone (Inferred mineral resources of 2.47 million tonnes grading 9.2% zinc, 1.22% copper, 40 g/t silver and 1.1 g/t gold). Total drilling for 2013 is expected to be approximately 63,000 metres.
Drilling has been suspended for the 2012 holiday season and the 2013 programs will commence in early January with an initial five (5) diamond drills.
Since October 31, 2012, three (3) diamond drill holes were completed as part of the McLeod Zone Up-Dip campaign (see attached figure: http://media3.marketwire.com/docs/1220ie.jpg).
Drill hole MCL-12-22 was drilled 25 metres up-dip and to the east of MCL-12-19 (8.86% zinc, 3.79% copper over 1.0 metre) along the southeast side of the mineralized chlorite Pipe alteration trend. This hole returned 2.33% zinc, 1.47% copper, 3.70 g/t silver, and 0.06 g/t gold over 0.70 metres. The zone remains open on this side of the mineralized trend.
Diamond drill hole MCL-12-23 was drilled near surface to test the extension of copper mineralization intersected in historical drilling within the mineralized trend. This hole was drilled 30 metres west of holes M-12 and MC-04-01. Chlorite Pipe alteration with weak stringer sulphides were encountered.
Drill hole MCL-12-24 intersected 3.76% zinc, 2.04% copper, 9.51 g/t silver, and 0.05 g/t gold over 3.60 metres within chlorite Pipe alteration at the Key Tuffite stratigraphic level. This hole intersected the zone in the west-central portion of the trend 60 metres up-dip and to the west of MCL-12-13. The zone in this area is characterized by extensive chlorite alteration, which extends over 200 metres from MCL-12-24 to the West McLeod Zone. There has been no drilling in this corridor.
SUPPLEMENTARY INFORMATION
The Bracemac-McLeod deposit contains Proven and Probable mineral reserves of 3.73 million tonnes grading 9.60% zinc, 1.26% copper, 28.25 g/t silver and 0.43 g/t gold. Inferred mineral resources of 2.63 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 fully vested partner with Xstrata Canada Corporation in the extensive Matagami base metal camp located in the Abitibi region of Quebec. This joint venture partnership covers six joint venture areas ("the Matagami Project") governing 4,737 square kilometres of prime stratigraphy, which has yielded high-grade base metal production since 1963. Xstrata Zinc is the project operator for the Matagami Project, including the Bracemac-McLeod Mine. Additional information is available at www.donnermetals.com.
Xstrata Zinc is the project operator for the Matagami Project and all the respective joint ventures. As operator, Xstrata Zinc is responsible for the execution of all development, production and exploration programs on the property. This includes resource evaluation, sampling, submittal of samples for assay, assay verification, metallurgical evaluation and QA/QC. Sample preparation and assaying are conducted by ALS Chemex-Chimitec of Val-d'Or, Quebec (zinc, copper and silver by atomic absorption, and gold by standard fire assay procedures).
Robin Adair (VP of Exploration) is a Qualified Person for Donner Metals Ltd. and is responsible for the technical information reported in this news release.
ON BEHALF OF THE BOARD OF DONNER METALS LTD.
Harvey Keats, Chief Executive Officer
Cautionary Statement:
Certain phrases in this news release are "forward-looking statements". Forward-looking statements are identified by wording such as "will be performed," and "is expected". "Forward-looking statements" involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Further discussion of "forward looking statements" and "future oriented financial information" and the risks inherent to mineral exploration and development, in relation to Donner's activities, can be found on the Company's website at www.donnermetals.com. The reader is cautioned not to place any undue reliance on any forward-looking statement.
Table 1: Exploration Drilling
----------------------------------------------------------------------------
UTM Core
Location Angle/ Length ETW
DDH NAD 83 direction Hori- (met- (met- Zn Cu Ag Au
(Depth) Zone 18 (True N) zon From To res) ers) % % g/t g/t
----------------------------------------------------------------------------
MCL-12- 308576E, -75 KT 305.8 306.5 0.70 0.5 2.33 1.47 3.70 0.06
22 (450 5505179N degrees/
metres) 025
degrees
----------------------------------------------------------------------------
MCL-12- 308358E, -54 KT Weak mineralization
23 (350 5505304N degrees/
metres) 022
degrees
----------------------------------------------------------------------------
MCL-12- 308358E, -69 KT 308.1 311.7 3.60 2.6 3.76 2.04 9.51 0.05
24 (450 5505304N degrees/
metres) 022
degrees
----------------------------------------------------------------------------
ETW = Estimated true width. IS = Insufficient sample. Depth = Total depth
drilled in metres. KT = Key Tuffite horizon. HW = Hanging wall to the Key
Tuffite. FW = Footwall to the Key Tuffite. Pipe = Hydrothermal alteration
occurring below and in close proximity to sulphide-bearing massive and semi-
massive sulphide deposits. "Pipe alteration" is defined as intense chlorite
alteration typically underlying or surrounding zones of massive sulphide
development and is indicative of a hydrothermal vent system associated with
mineralization in the Matagami Camp. Magnetite, chalcopyrite, pyrite,
sphalerite, silica and talc may occur with chlorite.
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 news release.
Contacts:
Donner Metals Ltd. - Montreal
514-286-1665
Donner Metals Ltd. - Vancouver
604-683-0564 or Toll Free: 1-800-909-8311
donner@bed-rock.com
www.donnermetals.com
