VANCOUVER,
BRITISH COLUMBIA--(Marketwire - Feb. 16, 2010) - Mr. Harvey Keats, Chief
Executive Officer of Donner Metals Ltd. (TSX
VENTURE:DON)(FRANKFURT:D4M), reports assay results from exploration
drilling on the Matagami Property. Assays were returned from a wedge
hole on the McLeod Deep discovery which returned 10.27% zinc, 3.44% copper,
50.71g/t silver and 1.12g/t gold over 7.50 metres in massive sulphides.
Assays were also received from a drill hole completed at Daniel-1 that
intersected massive and semi-massive pyrite-rich sulphides over 22.0
metres.
McLeod Area:
Massive and semi-massive sulphide mineralization was intersected in
drill hole MCL-09-02W2 at the Key Tuffite horizon, 340 metres down-dip
from the McLeod Zone (Indicated resource: 1.88 million tonnes grading
10.88% zinc, 1.42% copper, 30.1g/t silver, 0.58g/t gold). Massive
sulphides returned 10.27% zinc, 3.44% copper, 50.71g/t silver and
1.12g/t gold over 7.50 metres at a vertical depth of 1,195 metres. This
interval was preceded by a separate 0.83 metre interval of semi-massive
sulphides that graded 6.67% zinc, 4.41% copper, 53.50g/t silver and
0.47g/t gold. This intersection is located 106 metres up-dip from
discovery drill hole MCL-09-02 (6.05% zinc, 1.85% copper, 65.49g/t
silver and 1.56g/t gold over 21.60 metres) and mineralization is again
underlain by very well developed Pipe alteration that is consistent
with the mineralization and alteration trend that is the target for
exploration drilling down-dip of the McLeod Zone.
Daniel-1
Assays have also been received from diamond drill hole DAN-09-13 that
was drilled 63 metres down-dip and slightly west of DAN-09-10 (2.20%
copper, 0.09% zinc, 8.8g/t silver and 0.25g/t gold over 3.95 metres).
This drill hole intersected 22.72 metres of massive and semi-massive
pyrite which contained a 10.8 metre interval of massive pyrite. The
mineralization did not return significant assays.
A total of 8 drills are currently active on the project, three
investigating exploration targets and five on feasibility definition
drilling at Bracemac-McLeod.
Assay results for the two drill holes are reported in Table 1.
SUMMARY
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. By electing to conduct a bankable feasibility study on
Bracemac-McLeod, Xstrata Zinc has triggered its back-in right in the
South Flank project area, subject to Donner completing its earn-in
requirements by May 31, 2011.
The Matagami Project has an area of mutual interest of 4,750 square
kilometres and presently includes 2,986 mineral claims covering 644
square kilometres. The project covers the Matagami Mining Camp, a
world-class mining district, with 18 known Volcanogenic Massive
Sulphides (VMS) deposits including 10 past producers of varying sizes,
including the giant Matagami Lake Deposit (25.64 million tonnes of 8.2%
zinc, 0.56% copper, 20.91g/t silver and 0.41g/t gold) discovered in
1957 and mined from 1963 to 1988. The area is host to historical
production of 8,600 million pounds of zinc and 853 million pounds of
copper. The Matagami area is well serviced by established
infrastructure including the town of Matagami, power, a permitted
tailings facility, railway, 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
tonnes per 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,
Quebec. Copper concentrates are smelted at Xstrata's Horne smelter in
Rouyn-Noranda and refined at Xstrata's Canadian Copper Refinery in
Montreal, Quebec.
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, Daniel1, Bell Channel
and down-dip from the McLeod Zone. 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 and 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. Sample preparation and assaying of
samples that form the basis of the resource calculation were carried
out and certified 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 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
To view the table accompanying this news release please click on the
following link: http://media3.marketwire.com/docs/0216DON.pdf
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.
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