Donner Metals Ltd.: Production Imminent at Bracemac, Exploration Intersects High-Grade Between McLeod and McLeod Deep
* Reuters is not responsible for the content in this press release.
MONTREAL, QUEBEC, Mar 02 (MARKET WIRE) -- 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 has been discovered in drill hole MCL-13-25 between the Mineral Reserves in the McLeod Zone and the Inferred Mineral Resources in the McLeod Deep Zone. The hole intersected massive and semi-massive sulphides that returned 12.80 metres (7.33 metres estimated true width) grading 9.42% zinc, 2.51% copper, 35.71g/t silver and 0.81g/t gold from 932.40 to 945.20 metres. This result dramatically increases the likelihood that the two zones, separated by a 200-metre un-drilled gap, are connected by continuous high-grade sulphide mineralization. Five surface drills and one underground drill are currently active on the project, including three surface rigs at McLeod Deep. McLeod Deep Important high-grade sulphide mineralization has been discovered between the Proven and Probable Mineral Reserves in the McLeod Zone (2.1 million tonnes grading, 9.25% zinc, 1.18% copper, 24.98 g/t silver, 0.49 g/t gold) and Inferred Mineral Resources in the McLeod Deep Zone (2.47 million tonnes grading 9.20% zinc, 1.22% copper, 40 g/t silver and 1.1 g/t gold). This new result dramatically increases the likelihood that the two zones, separated by a 200-metre un-drilled gap, are connected by continuous high-grade sulphide mineralization, which has important implications for additional resources and extended mine life (Figure 1). The current program on McLeod Deep is an aggressive 35,000-metre drill program designed to: 1) confirm the presence of mineralization between the bottom of the McLeod Zone, currently included in the mine plan, and the top of the McLeod Deep Zone (Figure 1); 2) provide the 50-metre drill hole spacing needed for the estimation and classification of the McLeod Deep Zone and its extensions as an Indicated Mineral Resource; and 3) to assess the continuity and distribution of gold grades previously encountered within the base metal sulphide mineralization in McLeod Deep. Importantly, the program will also investigate possible extensions of mineralization to the southeast, northwest and down-dip. Two diamond drill holes were completed and three are in progress on McLeod Deep. The first three drill holes will also act as "pilot" holes from which multiple wedge cuts will be taken on an approximate 50-metre spacing. The program consists of 54 planned holes focussed on both the exploration and delineation of the McLeod Deep zone and its immediate area, including the area connecting the McLeod zone. Diamond drill hole MCL-13-25 intersected massive and semi-massive sulphides over 12.80 metres (7.33 metres estimated true width) from 932.40 to 945.20 metres that returned 9.42% zinc, 2.51% copper, 35.71g/t silver and 0.81g/t gold. This intersection is located approximately 110 metres directly up-dip from the McLeod Deep Zone and 90 metres down-dip from the McLeod Zone. The intersection was followed by two well-mineralized zones of Pipe alteration and tuffite from 995.50 to 1,001.70 metres (6.20 drilled width - 3.59 metres estimated true width) and from 1,014.90 to 1,017.20 metres (2.30 drilled width - 1.34 metres estimated true width). These zones are characterized by Pipe alteration containing intermittent stringer, semi-massive and massive sulphide mineralization with variable amounts of sphalerite and chalcopyrite. The two intervals are separated by an unmineralized felsic dyke. Assays are pending for these two mineralized intervals. Drill hole MCL-13-26 intersected semi-massive and stringer mineralization from 1,141.40 to 1,150.70metres that returned 5.77% zinc, 1.16% copper, 26.52g/t silver and 0.76g/t gold over 9.30 metres (3.59 metres estimated true width), including 7.90% zinc, 1.14% copper, 27.30g/t silver and 0.90g/t gold over 6.60 metres (2.55 metres estimated true width) from 1,141.40 to 1,148.00 metres A second interval of semi-massive sulphides in the footwall returned 5.99% zinc, 0.40% copper, 7.45g/t silver and 0.17g/t gold over 2.00 metres (0.77 metres estimated true width) from 1,158.50 to 1,160.50 metres MCL-13-26 is located in the uppermost portion of the McLeod Deep Zone, 50 metres southeast of MC-08-34W2 which intersected weakly mineralized Key Tuffite. Bracemac-McLeod Mine Development of the Bracemac-McLeod Mine continues on schedule and on budget, with production scheduled for May 2013. Development totals 8,660 metres to date on multiple headings. Pre-production activities are as follows: -- Bracemac Main Zone: ore has been accessed on 3 levels, development currently in progress on 5 levels; -- Bracemac KT Zone: ore has been accessed on 2 levels, development currently in progress on 4 levels; -- An additional level has been added to the mine plan to access incremental ore discovered by development drilling immediately down-dip of known reserves in the Bracemac Main Zone. Development continues in both the main and vent ramps towards the McLeod Zone. The main ramp is currently at 3,035 metres from the ramp portal at a 15% grade. The vent ramp is currently at 595 metres from the Bracemac Zone at an average grade of 7%. Underground pre-production drilling in the Bracemac Main and KT zones is ongoing. There are now 64,000 tonnes of ore in the stockpile on surface from the Bracemac Main Zone and the Bracemac KT Zone. Pre-production activities have commenced with the objective of having approximately 3 months of stockpiled and ready-to-blast ore to supply the mill at a rate of 3,000 tonnes per day in May 2013. Equipment and buildings have been moved from the Perseverance Mine to Bracemac-McLeod in preparation for the transition to production from Bracemac-McLeod. 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. 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 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 Canada Corporation - Xstrata Zinc Canada Division "Xstrata Zinc" is the project operator for the Matagami Project and all of 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 Certain phrases in this news release are "forward-looking statements". Forward-looking statements are identified by wording such as " on schedule", "on budget" and "scheduled". Such statements are applicable specifically to the Bracemac-McLeod Mine in relation to: 1) the possible future completion of development as scheduled under the current development plan, 2) mining/production in relation to the current mining plan and 3) future planned exploration activities. Such statements also pertain to the completion of the project within context of the budget as defined in the feasibility study completed by Xstrata Canada Corporation - Xstrata Zinc Canada Division and Genivar Limited Partnership in 2010. With respect to future production, and the commencement thereof, from the Bracemac-McLeod deposit, the forward looking statements are in the context of the feasibility study completed by Xstrata Canada Corporation - Xstrata Zinc Canada Division and Genivar Limited Partnership in 2010 as posted under the Company's profile at www.sedar.com. "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. To view Table 1, Table 2 and Figure 1 visit the following link: http://media3.marketwire.com/docs/Tables1-2.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 email@example.com www.donnermetals.com Copyright 2013, Market Wire, All rights reserved. -0-
- Washington, DC city council raises minimum wage to $11.50/hr in 2016
- Winning ticket sold in California for Mega Millions lottery: official |
- India removes barriers to U.S. embassy as anger grows over diplomat's arrest
- UPDATE 5-Mega Millions lottery winning tickets sold in California, Georgia -Officials
- China confirms near miss with U.S. ship in South China Sea