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Sphinx Resources

Publié le 01 octobre 2009

Bracemac-McLeod Feasibility Advances as Exploration Continues at Matagami

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Donner Metals

  
BRACEMAC-MCLEOD FEASIBILITY ADVANCES AS EXPLORATION CONTINUES AT MATAGAMI

Vancouver, B.C., September 30, 2009 - Mr. Harvey Keats, Chief Executive Officer of Donner Metals Ltd. (TSXV-DON), is pleased to report initial results from the feasibility drilling on Bracemac-McLeod, funded by Xstrata Zinc, and current results from the on-going Donner funded exploration program within the extensive Matagami project area.

Bracemac-McLeod - Accelerated Feasibility Program

Xstrata Zinc commenced definition drilling at Bracemac-McLeod in late August as part of the Accelerated Feasibility Study program.  Currently, 3 drills are active and presently focused on defining the three Bracemac zones at 25 metre pierce point spacings.  Results to date are conformable to the resource boundaries used in the calculation of the indicated resource (3,623,000 tonnes grading 11.52% zinc, 1.60% copper, 31.55 g/t silver and 0.49 g/t gold).  Of note, drill holes BRC-09-110 and BRC-09-111, drilled in the Upper Bracemac Zone, returned above average thicknesses with significant copper values, while BRC-09-109 did not intersect mineralization in the down-dip portion of this zone.

Table 1: Bracemac Feasibility Drilling

DON - table 1
Zones: UB = Upper Bracemac, B = Bracemac, KT = Key Tuffite, P = Pipe
"(in)" denotes that the drill hole pierce point is within the boundaries of the current resource envelop.
"(out)" denotes that the drill hole pierce point is outside of the boundaries of the current resource envelop.
Sph = sphalerite, Cpy = Chalcopyrite, Py = Pyrite, Po = Pyrrhotite.
A.P. = Assays Pending.
ETW = Estimated True Width.
Depth = Total depth drilled.

Regional Exploration

Drilling:
Exploration diamond drilling focused on various targets within the South Flank and North Flank project areas is in progress.  Seven diamond drill holes were completed since the last report with two drills currently active on exploration drilling.  Drilling is focused on the Key Tuffite as well as the sequence of upper tuffites that occur stratigraphically above the Key Tuffite.  Four holes intersected strongly anomalous base metal values at the Key Tuffite and one drill hole intersected anomalous results in an upper tuffite.  The base metal values encountered in the anomalous drill holes indicate the targeted area was influenced by the mineralizing process typical of Matagami massive sulphide deposits.  Drill holes completed to date is summarized as follows:

DJV-09-81: A stratigraphic drill hole designed to confirm the presence of the Key Tuffite in a poorly explored area 1.5 kilometres southeast of the producing Perseverance mine (Xstrata Zinc).  The hole targeted unexplained MEGATEM responses and down-hole geophysical anomalies in a region where mineralization was noted in upper tuffites in other drill holes.  Mineralized Key Tuffite was intersected and a weak off-hole anomaly was detected by a Crone borehole EM survey.

PRE-09-10: This hole was targeted on historical off-hole EM targets encountered in open-spaced, historical drill holes 1 kilometre west of the past producing Isle Dieu mine (produced 3.05 Mt grading 17.85% zinc, 1.01 % Cu, 76.63g/t Ag 0.46g/t Au).  Mineralized Key Tuffite was encountered and was underlain by altered footwall rhyolite (chlorite and sphalerite stringers).  Borehole EM surveying returned responses related to stringer pyrrhotite in the hanging wall to the Key Tuffite.

OR-09-38: Targeted on a mineralized upper tuffite in the hanging wall above Orchan West deposit, this drill hole encountered mineralized tuffites at the target and borehole geophysics detected an off-hole response related to this mineralized horizon.  This hole was not planned to test the Key Tuffite horizon.

OR-09-39: Was designed to test the northwest and slightly down-dip extension of the Orchan West deposit.  The hole encountered mineralized upper tuffites and weakly mineralized KT that was encountered higher than expected which suggests synvolcanic faulting in this area that is typical in Matagami sulphide deposits.  Geophysics returned complex off-hole anomalies that are under review.

BAS-09-55: Targeted historical off-hole EM anomalies at the Key Tuffite 900 metres southeast of the former producing Bell Allard Mine (produced 3.59 Mt grading 13.67% zinc, 1.25 % Cu, 40.55g/t Ag 0.69g/t Au).  The hole intersected two intervals of mineralized Key Tuffite underlain by altered (chloritized) footwall rhyolite.  A strong in-hole geophysical response related to stringer pyrrhotite in the Key Tuffite was detected by borehole geophysics.

BAS-09-56: Targeted an area of EM responses returned from previous drilling 850 metres down dip and to the northeast of the Bell Allard South Pit.  The hole encountered mineralized upper tuffites, 80 metres stratigraphically above the Key Tuffite horizon, and a repeated Key Tuffite sequence cut by a 40 metre gabbro sill.  Above the sill, the Key Tuffite is comprised of massive sulphides dominated by pyrite.  Below the sill, mineralized Key Tuffite with significance magnetite was encountered.  Geophysical surveying is in progress and assays are pending.

MC-09-76: Was designed as a pure stratigraphic test 1 kilometre southeast of McLeod.  The drill hole encountered weakly mineralized Upper Tuffite and altered (silicified/hemitized) footwall rhyolite.  The Key Tuffite was absent due to faulting.  Down-hole geophysics did not return significant responses. 

Table 2: Exploration Drilling

DON - table 2
Horizons: UT = Upper tuffite, KT = Key Tuffite, FW = footwall.
ETW = Estimated True Width.
Depth = Total depth drilled.

Surface Exploration:
Daniel-1
DEEPEM surveying has been completed on three grids over the Daniel-1 showing area.  Preliminary results have identified responses that suggest mineralization intersected in DAN-09-10 (2.20% copper, 0.09% zinc, 8.8g/t silver and 0.25g/t gold over 3.95 metres) extends to the west.  Another anomaly of interest was also detected in the area.  Drilling is planned for the winter months.

Airborne Survey:
A 647 line Kilometre ZTEM airborne survey was conducted in a corridor stretching from Daniel-1 to the PD deposit in the west end of the Matagami Camp and in a second corridor stretching from south of the Perseverance Mine to the West Camp - PD trend.
Results are being analyzed, however a number of interesting responses are present in the data. 

SUMMARY

A total of 209 drill holes have been completed on the Matagami Project since the activity under the Option and Joint Venture Agreement began in late 2006.  This includes a total of 12 drill holes that have been completed on the Advanced Feasibility Drilling on Bracemac-McLeod.  Five drills are currently active on the project.

Based on the Indicated Resource of 3,623,000 tonnes grading 11.52% zinc, 1.60% copper, 31.55 g/t silver and 0.49 g/t gold at Bracemac-McLeod, Xstrata Zinc is presently conducting an "Accelerated Feasibility Study".  Additional geological information, including maps and sections, is available at www.donnermetals.com.

PROJECT OVERVIEW

Donner has the option to earn a 50% participating joint venture interest in the Matagami Project by incurring a total of $25 million of expenditures on exploration and related work on or before May 31, 2011.  Upon earn-in by Donner, five separate joint ventures will be formed, covering the property and the area of interest.  In each of the five joint venture areas, Xstrata Zinc has the option to earn-back a 15% interest in each area by incurring up to $20 million on a bankable feasibility study.

The Matagami Project has an area of mutual interest of 4,750 square kilometres and presently includes 3,340 mineral claims covering 801 square kilometres.  The project covers the Matagami Mining Camp which is a world-class mining district, with 18 known VMS deposits, including 10 past producers of varying sizes, including the giant Matagami Lake Deposit (25.64 million tonnes of 8.2% Zn, 0.56% Cu, 20.91 g/t Ag and 0.41 g/t Au) discovered in 1957 and mined from 1963 to 1988.  The area is host to historical production of 8,600 million pounds of Zn and 853 million pounds of Cu.  The Matagami area is well serviced by established infrastructure including the town of Matagami, power, a permitted tailings facility, railway, and airport and well developed road and highway networks.  Xstrata Zinc is currently producing from its low-cost and wholly-owned Perseverance Deposit which feeds its refurbished 2,600 t/day Matagami mill complex.  Any future development under the Donner-Xstrata agreement will benefit from the established infrastructure and facilities.  Zinc concentrates produced at Matagami are refined at the Noranda Income Fund zinc refinery in Valleyfield Qu�bec.  Copper concentrates are smelted at Xstrata's Horne smelter in Rouyn-Noranda and refined at Xstrata's Canadian Copper Refinery in Montreal. 

The Company's strategy is to explore for and discover zinc-copper deposits in the Matagami Camp and to leverage the general infrastructure and existing processing facilities within a known and well-established cost structure for developing VMS deposits.  Donner's exploration objective is to investigate multiple stratigraphic horizons with potential for VMS mineralization including the prolific Key Tuffite horizon throughout the Matagami Camp.  To date, Donner has discovered new mineralization at Bracemac-McLeod and at Bell Channel.  Within the extensive project area there are numerous exploration targets with excellent potential for additional discoveries.

SUPPLEMENTARY INFORMATION

Xstrata Zinc is the project operator for the Matagami Project the Accelerated Feasibility Study.  Xstrata Zinc is responsible for both fieldwork and resource evaluation including, but not limited to, sampling, submittal of samples for assay, assay verification, metallurgical evaluation and QA/QC.  Assaying of samples that form the basis of the resource calculation were carried out and certified by ALS Chemex-Chimitec, of Val D'Or, Qu�bec (zinc, copper and silver by atomic absorption, and gold by standard fire assay procedures).  Sample preparation was done by ALS Chemex of Val D'Or, Qu�bec.

Robin Adair, VP of Exploration for the Company, is the 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



For more information, please contact:


Keith Schaefer
Vanguard Shareholder Solutions
Tel: 604.608.0824
Toll free: 866.898.0826

www.donnermetals.com

Vanguard Solutions

http://cl.exct.net/open.aspx?ffcb10-fe8a1d787466077573-fded17787767027b7d127273-fef5137774670c-fe9415747062077a74-fe2b107575620378771271-ffcf14

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Sphinx Resources

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Sphinx est une société développant des projet miniers de zinc et de cuivre basée au Canada.

Sphinx est en développement de projets de zinc, de cuivre, d'argent et d'or au Canada.

Son principal projet en développement est PD1 au Canada et ses principaux projets en exploration sont SOUTH VOISEY BAY, WEST RAGLAN et MATAGAMI au Canada.

Sphinx est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 838 700 CA$ (593 560 US$, 548 983 €).

La valeur de son action a atteint son plus haut niveau récent le 26 août 2016 à 0,14 CA$, et son plus bas niveau récent le 03 avril 2020 à 0,01 CA$.

Sphinx possède 83 870 000 actions en circulation.

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