Donner Metals Ltd.: More High-Grade at McLeod Deep
MONTREAL, QUEBEC -- (Marketwired) -- 05/22/13 -- Mr. Harvey Keats, Chief Executive Officer of Donner Metals Ltd. ("Donner" or the "Company") (TSX VENTURE: DON)(FRANKFURT: D4M), reports that important high-grade sulphide mineralization continues to be intersected at the McLeod Deep Zone. The recent drilling results, as reported to the Company by partner and project operator Glencore Xstrata ("Glencore Xstrata"), include an intercept grading 9.49% zinc, 1.75% copper, 52.96 g/t silver and 1.03 g/t gold over 34.80 metres (15.65 metres true width) intersected within the McLeod Deep Zone. This program, to be completed in 2013, is designed to both expand and confirm mineral resources down-dip from planned development in the McLeod Zone with the goal of establishing an Indicated Mineral Resource. Results of the program to date are listed in the attached Tables 1 and 2.
McLeod Deep Exploration
Three drills are active at McLeod Deep. Drilling on an average 50-metre spacing is initially focussed on exploring the gap between the McLeod and McLeod Deep zones and the upper portion of McLeod Deep Inferred Mineral Resource (2.47 million tonnes grading 9.21% zinc, 1.22% copper, 39.81 g/t silver and 1.12 g/t gold - see Table 3 and Figure 1). To date, 11 drill holes of the 54 drill hole program planned for 2013 have been completed. The objective of the program is to provide a better understanding of the potential size of the resource below the reserves currently scheduled to be mined at McLeod. The upper boundary of the Inferred Mineral Resources in the McLeod Deep Zone, as currently defined, is approximately 230 metres down-dip from the bottom of planned development.
High-grade massive sulphide mineralization has been intersected over 34.80 metres in drill hole MCL-13-027 located within the current upper southeast limit of the Inferred Mineral Resource in the McLeod Deep Zone. This interval was located at the Key Tuffite marker horizon and notably returned high precious metal grades relative to average Matagami camp values. The intersection is located 47 metres from both MCL-09-02W5 and MCL-09-02W2 that both intersected high-grade sulphide mineralization (see Figure 1 and Table 3).
Composite results from MCL-13-027:
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Core Estimated
Length True width Zn Cu Ag Au
From To (metres) (metres) % % g/t g/t
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1,150.10 1,184.90 34.80 15.65 9.49 1.75 52.96 1.03
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Including:
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1,150.10 1,156.10 6.00 2.70 5.41 6.29 117.96 1.30
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1,156.10 1,168.60 12.50 5.63 4.32 1.20 43.05 0.77
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1,168.60 1,182.00 13.40 6.03 16.45 0.56 17.60 0.39
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1,182.00 1,184.90 2.90 1.30 4.25 1.16 135.87 4.47
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Diamond drill hole MCL-13-025WA intersected 14.42% zinc, 0.16% copper, 7.84 g/t silver and 0.41 g/t gold over 4.5 metres drilled width (2.18 metres estimated true width), followed by a stringer zone in Pipe alteration that returned anomalous results of 1.16% zinc, 0.40% copper, 13.87 g/t silver and 0.05 g/t gold over 64.7 metres drilled width (31.5 metres estimated true width). The intersection is located between the McLeod and McLeod Deep zones, down-dip from sulphides previously reported from MCL-13-025.
Three drills are active at McLeod Deep with three holes in progress.
Regional Exploration
Diamond drill holes GAL14-13-012 and GAL14-13-013 intersected intensely altered and weakly mineralized intrusive rocks at the targeted Key Tuffite target horizon (Table 2). GAL14-13-014 intersected strong Pipe alteration over 117.4 metres with localised sulphide stringers that returned anomalous zinc values (0.39 % to 0.75 % zinc) in the interpreted stratigraphic hanging wall to the Key Tuffite horizon. GAL14-13-015 intersected Pipe alteration in basalts 130 metres down sequence from GAL-13-14 in the interpreted stratigraphic hanging wall to the Key Tuffite. GAL14-13-016 intersected chlorite-altered rhyolite and GAL14-13-017 intersected weakly mineralized hanging wall rhyolite.
DJV Area
Eight drill holes were completed and three historical drill holes were extended in the DJV area located 2.7 kilometres north of Glencore Xstrata's wholly owned Perseverance Mine. The program has extended the newly identified trend of the favourable Key Tuffite horizon at shallow depths, at a drill spacing of between 300 to 500 metres. Regional alteration profiles indicate the area is favourable for sulphide deposition.
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 fully vested partner with Glencore Xstrata in the extensive Matagami base metal camp located in the Abitibi region of Quebec. This joint venture partnership covers claims, mining licences and other direct mineral title comprising six joint ventures (collectively the "Matagami Project") at either 50%/50% or 65%/35% Glencore Xstrata / Donner joint venture interests respectively. 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, the McLeod Deep exploration program, the Bracemac-McLeod area exploration program and the Galinee14 exploration program are under 65% Glencore Xstrata - 35% Donner joint ventures. The DJV area program is under a 50% Glencore Xstrata - 50% Donner joint venture.
Additional information is available at www.donnermetals.com.
Glencore Xstrata is the project operator for the Matagami Project and all of the respective joint ventures. As operator, Glencore Xstrata is responsible for the execution of all development, production, processing and refining activities related to the Bracemac-McLeod Mine as well as with respect to the exploration programs conducted on the Matagami Project. 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
Certain phrases in this news release are "forward-looking statements". Forward-looking statements are identified by wording such as "to be completed", "planned" and "expected". Such statements are applicable specifically to the future planned exploration activities and anticipated results from visual review of drill core. "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 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.
To view Table 1, Table 2, Table 3, and Figure 1, please visit the following link: http://media3.marketwire.com/docs/875351_e.pdf.
Neither the TSX Venture Exchange nor it's 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
