USSilverBug
11 years ago
Took a position over the last couple days, 250,000 @ $0.045.
Donner Metals Ltd.
TSX VENTURE : DON
FRANKFURT : D4M
Donner Metals Ltd.
July 12, 2013 09:00 ET
Donner Metals Ltd.: Update on Bracemac-McLeod Production
MONTREAL, QUÉBEC--(Marketwired - July 12, 2013) - Mr. Harvey Keats, Chief Executive Officer of Donner Metals Ltd. ("Donner" or the "Company") (TSX VENTURE:DON)(FRANKFURT:D4M), reports on both the recent operation and anticipated operation at the Bracemac-McLeod Mine.
The Bracemac-McLeod Mine has reached commercial production and is processing ore at a rate of approximately 3,000 tonnes per day as expected under the revised mine plan (see press release dated July 5, 2012) since commencement of operations in mid-May of this year. Ore grades to date are below the average grades defined in the feasibility study prepared for the Bracemac-McLeod Mine in 2010 (the "Feasibility Study") due to lower stope grades as a result of preliminary resource modelling from underground drilling and processing of lower-grade development ore from the Bracemac-McLeod stockpile. The Matagami mill is performing above expectations as defined in the Feasibility Study with higher than anticipated recoveries and concentrate grades for both zinc and copper. Preliminary underground resource drilling has provided a new production and grade forecast for 2013 that anticipates lower grades for the remainder of the year.
Bracemac-McLeod Mine and Matagami Mill snapshot: (Go here to see snapshot ==>) http://www.marketwire.com/press-release/donner-metals-ltd-update-on-bracemac-mcleod-production-tsx-venture-don-1810615.htm
Above Expectations Within Expectations Below Expectations
Mill and metallurgical performance: recoveries and concentrate grade
New grind circuit and mill capacity Mine production rate has met Feasibility Study target and is ramping up to the 3,000 tonnes per day mine plan Ramp-up ore grades
2013 grade forecast
Performance to date is as follows (Table 1):
Bracemac-McLeod Mine: Production is within the Feasibility Study plan and is ramping up to an average of approximately 3,000 tonnes per day. Ore grades for both copper and zinc have been below those forecast in the Feasibility Study during the first two months of production as noted in Table 1. This is due in part to the sequencing of stopes and processing of the stockpiled lower grade development ore. Based on preliminary results from the underground resource drilling the grade forecast for 2013 reduces the anticipated ore grade for 2013 to an average of 6.79% zinc, 1.11% copper 32.98g/t silver and 0.3g/t gold.
Current inventories for Bracemac-McLeod are:
Tonnes ready to drill 110,565
Tonnes drilled 149,777
Tonnes ready to blast 10,402
Stockpile 5,000
Matagami Mill: The Matagami mill performance related to Bracemac-McLeod ores is above expectations as described in the Feasibility Study in relation to recoveries and concentrate grades for both zinc and copper (see Table 1). It remains too early to understand for what period of time these improved results can be expected. The new ball mill is performing well and was successfully commissioned in early June. The addition of this grind capacity has added flexibility to the grinding process and added mill capacity in excess of that needed for the 3,000 tonnes per day production rate planned from Bracemac-McLeod.
Production from Bracemac-McLeod will be reduced in the months of July and August while the remaining Persévérance ore (100%-owned solely by Glencore Xstrata) is processed.
Additional information is available at www.donnermetals.com.
Glencore Xstrata is the project operator for the Matagami Project and all of Donner's joint ventures. As project operator, Glencore Xstrata is responsible for the execution of all development, production, smelting and refining activities related to the Bracemac-McLeod Mine and exploration programs conducted on the Matagami Project, including 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, Québec (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 "anticipated", "forecast" and "expected". Such statements are applicable specifically to the future anticipated results and performance related to the Bracemac-McLeod Mine. "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, please visit the following link: http://media3.marketwire.com/docs/712don_table1.pdf
Contact Information
Donner Metals Ltd.
Andrea Magee
604.683.0564
Toll Free: 1-800-909-8311
donner@bed-rock.com
www.donnermetals.com
gsfl
12 years ago
BRACEMAC-MCLEOD MINE DEVELOPMENT CONTINUES TO TRACK ON BUDGET
AND ON SCHEDULE
Vancouver, B.C., January 16, 2012 – Mr. Harvey Keats, Chief Executive Officer of Donner Metals Ltd. (TSXV-DON), provides an update on the continued development of the Bracemac-McLeod Mine as reported to the Company by partner and project operator Xstrata Canada Corporation-Xstrata Zinc Canada Division (“Xstrata Zinc”). The main access ramp reached 2,300 metres at Bracemac in early December, in advance of the scheduled year-end target, allowing full multi-face development to begin later in January. Total development now stands at 2,500 metres, including the main ramp to McLeod, three ramps turned off to the Bracemac Zones, and a turn-off to the backfill raise. The backfill raise, when completed, will be used as temporary ventilation until the ventilation raise is completed in the fall of 2012. Multi-faced development will now continue to the Bracemac Zones and the in the main ramps accessing the McLeod Zone. Mr. Keats states that “we are proud of the development team for keeping this project on budget and on schedule in an environment where such a good news story is rare.” David Patterson, Chairman and Chief Financial Officer goes on to say “Having Xstrata as a partner in this project has ensured cost control and has reduced the risk for Donner.”
The Bracemac-McLeod Mine is scheduled to be ready for production in early 2013. Additional information is available at www.donnermetals.com.
PROJECT OVERVIEW
The Company is a fully vested partner with Xstrata Canada Corporation in the extensive Matagami base metal camp located in the Abitibi region of central Québec. This joint venture partnership covers six joint venture areas governing 4,737 square kilometres of prime stratigraphy which has yielded high-grade base metal production since 1963. The joint venture areas currently contain 2,895 mineral claims covering 667 square kilometres. Each joint venture area is defined by an area of interest which expires on June 1, 2013. Following this term, the joint ventures will apply only to the surviving mineral claims and other mineral interests. The specific joint venture areas (singular, “JVA”) and their relative interests are:
1. South Flank JVA: Donner 35% -Xstrata 65%
2. Bracemac-McLeod JVA Donner 35% - Xstrata 65% (includes the Bracemac-McLeod Mine - under development)
3. North Flank JVA: Donner 50% - Xstrata 50%
4. Central Camp JVA: Donner 50% - Xstrata 50%
5. West Camp JVA: Donner 50% - Xstrata 50% (includes the PD1 deposit: under feasibility study)
6. East JVA: Donner 50% - Xstrata 50%
Xstrata Canada Corporation holds a separate right to increase its interest to 65% in each of the North Flank, Central Camp, West Camp and East JVA’s by completing a bankable feasibility study. Both parties will be responsible for their share of costs on the basis of the relative joint venture interests.
The Matagami 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 2,950 tonnes per day Matagami mill complex. Any future development under the Donner-Xstrata agreemen port the established infrastructure and facilities. Zinc concentrates produced at Matagami are refined at the Noranda Income Fund zinc refinery in Valleyfield, Québec. Copper concentrates are smelted at Xstrata’s Horne smelter in Rouyn-Noranda and refined at Xstrata’s Canadian Copper Refinery in Montréal, Québec.
The Company’s strategy is to explore for and develop 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, the joint venture partners have discovered new mineralization at Bracemac-McLeod, Daniel1, Garon Lake, Bell Channel, McLeod Deep and down-dip from Radiore. 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 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, Québec (zinc, copper and silver by atomic absorption, and gold by standard fire assay procedures).
ON BEHALF OF THE BOARD OF
DONNER METALS LTD.
“Harvey Keats” Chief Executive Officer
gsfl
13 years ago
DONNER METALS ANNOUNCES C$2,440,000 OF PRIVATE PLACEMENT FINANCINGS
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
Vancouver, British Columbia – October 25, 2011 – Donner Metals Ltd. (“Donner” or the “Company”) is pleased to announce that it has entered into an agreement with Haywood Securities Inc. (“Haywood”) under which Haywood has agreed to act as agent for the private placement, on a guaranteed agency basis, of 9,090,910 common shares of the Company designated as flow-through shares for purposes of the Income Tax Act (Canada) (the "Flow-Through Shares") at a price of C$0.22 per Flow-Through Share, for gross proceeds to the Company of C$2,000,000.
The Company also intends to complete a concurrent non-brokered private placement of 2,000,000 Flow-Through Shares at a price of C$0.22 per Flow-Through Share for gross proceeds to the Company of C$440,000.
The aggregate proceeds from the sale of the Flow-Through Shares will be used for the advancement of the Matagami Project in Quebec.
The closing of the financing is subject to the completion of formal documentation, receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange, and other customary conditions.
The Flow-Through Shares will be subject to a four-month hold period.
This press release does not constitute an offer to sell, nor is it a solicitation of an offer to buy, securities.
These securities have not been and will not be registered under the United States Securities Act of 1933, as amended, or the securities laws of any state, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons unless an exemption from the registration requirements of the United States Securities Act of 1933, as amended, and all applicable state securities laws is available. This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities in the United States or to, or for the account or benefit of, U.S. persons.
Donner Metals Ltd.
Donner Metals Ltd. is a Canadian development and exploration company focused on base and precious metal projects in Québec. Donner's flagship project is a partnership with Xstrata Canada Corporation in the Matagami Mining Camp covering both the current development of a new mine and on-going exploration activities. The project is located in the Abitibi region of central Québec and it is supported by Xstrata's existing mine infrastructure, a highly experienced workforce and an operating 2,950 tonne per day mill. As well, the area is serviced by highway, power, airport, railway and town site infrastructure.
ON BEHALF OF THE BOARD OF? DONNER METALS LTD.
“David Patterson”? Chairman
gsfl
13 years ago
Donner Completes Earn-In on the Matagami Project
Apr. 26, 2011 (Marketwire Canada) --
VANCOUVER, BRITISH COLUMBIA -- Mr. Harvey Keats, Chief Executive Officer of Donner Metals Ltd. (TSX VENTURE:DON)(FRANKFURT:D4M), reports that the Company has exercised its Option with Xstrata Canada Corporation ("Xstrata") on the extensive Matagami base metal camp located in the Abitibi region of central Québec. As such, the Company is a fully vested partner with Xstrata in five joint venture areas covering 4,737 square kilometres of prime stratigraphy which has yielded high-grade base metal production since 1961. The joint venture areas currently contain 2,986 mineral claims covering 644 square kilometres. Each joint venture area is defined by an area of interest which expires in two years. Following this term, the joint ventures will apply only to the surviving mineral claims and other mineral interests. The specific joint venture areas (singular, "JVA") and their relative interests are:
South Flank JVA: Donner 35% - Xstrata 65% (includes the Bracemac-McLeod Mine - under development)
North Flank JVA: Donner 50% - Xstrata 50%
Central Camp JVA: Donner 50% - Xstrata 50%
West Camp JVA: Donner 50% - Xstrata 50% (includes the PD1 deposit: under feasibility study)
East JVA: Donner 50% - Xstrata 50%
Xstrata holds a separate right to increase its interest to 65% in each of the North Flank, Central Camp, West Camp and East JVA's by completing a bankable feasibility study. Both parties will be responsible for their share of costs on the basis of the relative joint venture interests.
Bracemac-McLeod Development Update (South Flank JVA): Construction of the ramp is progressing normally with advancement rates consistently above plan. The current length of the ramp is 928 metres enroute to the Bracemac-McLeod deposit where initial production from the mine is scheduled to start in January, 2013. In addition to ramp advancement, the installation of mine ventilation facilities and the construction of support infrastructure at the ramp portal continue. The mine will produce an average of 2,500 tonnes per day for four years on the basis of proven and probable mining reserves of 3.7 million tonnes grading 9.6% zinc, 1.3% copper, 28.3 g/t silver and 0.4 g/t gold. Potential to expand the mine life is possible on the basis of inferred mineral resources of 2.63 million tonnes at 8.9% zinc, 1.3% copper, 38.8 g/t silver, 1.1 g/t gold and excellent exploration potential immediately surrounding both mining reserves and mineral resources.
PD1 Deposit Feasibility Study Update (West Camp JVA): Contracts have been awarded for the PD1 feasibility study which is scheduled for completion in late 2011. This study is entirely funded by Xstrata in fulfillment of its right to increase its interest in the West Camp JVA to 65%. The study will focus on the open pit potential of the deposit between 25 and 100 metres vertical depth. The objective of the study is to determine the viability of providing incremental feed to the 2,950 tonne per day Matagami mill as supplementary production to that from the Bracemac-McLeod deposit between 2014 and 2016.
Exploration: Exploration by Xstrata and Donner will continue with an estimated budget of $4 million towards exploration activities planned for the remainder of 2011 on the joint venture lands. The programs will mostly consist of drilling, geophysics, geology and geochemistry. The initial focus of the programs will be on the Radiore, New Hosco and Galinee prospects as well as on a number of other targets in the North and South Flank areas.
The objective of the partners in the Matagami camp is to identify and maintain consistent production of ore to the refurbished 2,950 tonne per day Matagami Mill over the long term. The mill is presently processing ore from Xstrata's wholly owned Perseverance mine.
Additional information is available at www.donnermetals.com.
PROJECT OVERVIEW
The Matagami 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, 20.91 g/t silver and 0.41 g/t gold). Current and historical production from the Matagami camp stands at approximately 46.5 million tonnes with an average grade of 9.1% zinc, 0.9% copper, 28.3 g/t silver and 0.5 g/t gold (source: Xstrata Zinc). 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 2950 tonnes per day Matagami mill complex. Any future development under the Donner-Xstrata joint ventures will support the established infrastructure and facilities. Zinc concentrates produced at Matagami are refined at the Noranda Income Fund zinc refinery in Valleyfield, Québec. Copper concentrates are smelted at Xstrata's Horne Smelter in Rouyn-Noranda and refined at Xstrata's Canadian Copper Refinery in Montréal, Québec.
The Company's strategy is to discover and develop base metal deposits in the Matagami Camp in order to leverage the general infrastructure and existing ore processing facilities within a stable and well-established cost structure environment. To date, Xstrata and Donner have discovered new mineralization at Bracemac-McLeod, Daniel1, Bell Channel, McLeod Deep and down-dip from Radiore. 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 its relative joint ventures. As operator, Xstrata Zinc is responsible for the execution of all development, production and exploration programs on the property. This includes construction, engineering, processing, treatment, refining, resource evaluation, sampling, submittal of samples for assay, assay verification, metallurgical evaluation and QA/QC.
Robin Adair (VP of Exploration) 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
Cautionary Statement:
This news release contains "forward-looking statements" regarding predictions on schedules for the Bracemac-McLeod mine which are described in the feasibility study completed by Xstrata Canada Corporation - Xstrata Zinc Canada Division and Genivar Limited Partnership in September 2010. Such predictions may be affected by variables typically associated with mining projects. In addition, Donner will be required to meet its financial obligations under the joint ventures, including its share of the significant capital expenditures involved in the development of Bracemac-McLeod deposit. Donner's ability to meet its financial obligations under the joint ventures can be negatively affected by financial markets and Donner's ability to raise financing, among others. Failure to meet its financial obligations may result in dilution of its interest under the terms of the Option and Joint Venture Agreement which governs the joint ventures.
"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. This press release refers to information about Xstrata's Perseverance mine and mine property on which the Company has no right to explore or mine. This press release also refers to information about historical production from land covered by the Matagami joint ventures. Investors are cautioned that mineral deposits on other properties and/or historical production on lands under joint venture are not necessarily indicative of characteristics of new mineral deposits discovered on the Matagami Project or future discovery potential. 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, reference to other properties or historical production from the Matagami Project area.
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.
Donner Metals Ltd.
(604) 683-0564 or Toll Free: 1-800-909-8311
(604) 602-9311 (FAX)
donner@bed-rock.com
www.donnermetals.com
gsfl
13 years ago
Retransmission-Donner Metals Ltd.: Bracemac-McLeod Ramp Moves Past 660 Metres
Mar. 7, 2011 (Marketwire Canada) --
VANCOUVER, BRITISH COLUMBIA -- Mr. Harvey Keats, Chief Executive Officer of Donner Metals Ltd. (TSX VENTURE:DON)(FRANKFURT:D4M), reports that the Bracemac-McLeod ramp is currently at 660 metres enroute to the Bracemac-McLeod deposit where initial production from the mine is scheduled to start in January, 2013. In addition to ramp advancement, the installation of mine ventilation facilities and the construction of support infrastructure at the ramp portal are in progress. The existing 4.3 kilometres of haulage road from the portal to the Matagami Mill is also currently being refurbished to accommodate haulage of ore from Bracemac-McLeod. The development of the Bracemac-McLeod deposit is operated by Xstrata Canada Corporation – Xstrata Zinc Canada Division ("Xstrata Zinc") with 12 contractor companies on site currently employing approximately 30 people in addition to Xstrata Zinc personnel.
In addition, exploration drilling has been conducted in the Radiore area, located 11.8 kilometres north of the Bracemac-McLeod deposit, and in the New Hosco area located 18.4 kilometres northwest of the Bracemac-McLeod deposit. Three diamond drillholes were completed on the near-surface, southeastern extension of the historical Radiore Mine (historical production of 0.14 million tons 1.34% zinc, 1.57% copper). Drillhole DR-11-04 targeted a geophysical response 450 metres east of the deposit. It intersected 51.6m of stringer and disseminated pyrite and pyrrhotite. A stepout drillhole from the same set-up (drillhole DR-11-05) intersected 1.8 metres of massive pyrrhotite with traces of chalcopyrite. Drillhole DR-11-06 was drilled 65 metres to the west of this mineralization and it intersected 49.3 metres of stringer and disseminated pyrite and pyrrhotite. All holes intersected stratigraphy consistent with the Radiore deposit. Two stratigraphic drillholes were completed 1.3 kilometres southwest of the historical New Hosco Mine (historical production of 1.83 million tonnes grading 1.73% zinc and 1.73% copper). Both drillholes stayed in rocks considered to be the hanging wall to the deposit and they did not intersect mineralization.
On the PD1 deposit, Xstrata Zinc is seeking bids from independent engineering firms for the feasibility study described in the news release dated February 10, 2011. The technical report on the resource calculation has been posted on SEDAR.
Additional information is available at www.donnermetals.com.
PROJECT OVERVIEW
The Matagami Option and Joint Venture Agreement has an area of mutual interest of 4,753 square kilometres and presently includes 2,986 mineral claims covering 644 square kilometres. Donner has the option to earn an initial 50% participating joint venture interest from Xstrata Canada Corporation in the Matagami Project by incurring a total of $25 million of expenditures on exploration and related work on or before May 31, 2011. To date, Donner has provided $24.9 million towards exploration and has the balance of the funds at hand required to exercise the option. Donner will complete its 50% earn-in option in five separate joint venture areas within the Matagami Project, including Bracemac-McLeod and PD1 deposits, on or before May 31, 2011. Following earn-in, five separate joint venture ("JV") areas will be formed with initial interests of 50% Xstrata Zinc and 50% Donner. The JV areas are: South Flank JV area (includes Bracemac-McLeod, McLeod Deep, Orchan West), North Flank JV area (includes Radiore and New Hosco), Central Camp JV area; West Camp JV area (includes the PD1 deposit - Phelps Dodge Corporation of Canada holds a 15% net carried interest and cash payments in the 9 claims covering the PD1 deposit under a 1976 agreement) and the East JV area - see web site for map locations. Following earn-in, Xstrata Zinc has a "bump-up" right in each of the five JV areas to earn back a 15% interest by completing a bankable feasibility study or incurring a maximum of CDN $20 million towards a bankable feasibility study. Pursuant to this bump-up right, the South Flank joint venture area, which includes the Bracemac-McLeod mine, will become a 65% Xstrata Zinc and 35% Donner joint venture. The remaining 4 joint venture areas that comprise the rest of the Matagami project will remain at 50% Xstrata and 50% Donner, subject to remaining bump-up rights. The area of mutual interest remains in effect for two years following earn-in.
The Matagami 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 support the established infrastructure and facilities. Zinc concentrates produced at Matagami are refined at the Noranda Income Fund zinc refinery in Valleyfield, Québec. Copper concentrates are smelted at Xstrata's Horne smelter in Rouyn-Noranda and refined at Xstrata's Canadian Copper Refinery in Montréal, Québec.
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, McLeod Deep and down-dip from Radiore. 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 future 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, Québec (zinc, copper and silver by atomic absorption, and gold by standard fire assay procedures).
Robin Adair (VP of Exploration) is the Qualified Person for Donner Metals Ltd. and is responsible for the technical information reported in this news release.
Click here to view Table 1: Regional Exploration Drilling: http://media3.marketwire.com/docs/don36.pdf
ON BEHALF OF THE BOARD OF DONNER METALS LTD.
Harvey Keats, Chief Executive Officer
gsfl
13 years ago
Retransmission-Donner Metals Ltd.: Bracemac-McLeod Ramp Moves Past 660 Metres
Mar. 7, 2011 (Marketwire Canada) --
VANCOUVER, BRITISH COLUMBIA -- Mr. Harvey Keats, Chief Executive Officer of Donner Metals Ltd. (TSX VENTURE:DON)(FRANKFURT:D4M), reports that the Bracemac-McLeod ramp is currently at 660 metres enroute to the Bracemac-McLeod deposit where initial production from the mine is scheduled to start in January, 2013. In addition to ramp advancement, the installation of mine ventilation facilities and the construction of support infrastructure at the ramp portal are in progress. The existing 4.3 kilometres of haulage road from the portal to the Matagami Mill is also currently being refurbished to accommodate haulage of ore from Bracemac-McLeod. The development of the Bracemac-McLeod deposit is operated by Xstrata Canada Corporation – Xstrata Zinc Canada Division ("Xstrata Zinc") with 12 contractor companies on site currently employing approximately 30 people in addition to Xstrata Zinc personnel.
In addition, exploration drilling has been conducted in the Radiore area, located 11.8 kilometres north of the Bracemac-McLeod deposit, and in the New Hosco area located 18.4 kilometres northwest of the Bracemac-McLeod deposit. Three diamond drillholes were completed on the near-surface, southeastern extension of the historical Radiore Mine (historical production of 0.14 million tons 1.34% zinc, 1.57% copper). Drillhole DR-11-04 targeted a geophysical response 450 metres east of the deposit. It intersected 51.6m of stringer and disseminated pyrite and pyrrhotite. A stepout drillhole from the same set-up (drillhole DR-11-05) intersected 1.8 metres of massive pyrrhotite with traces of chalcopyrite. Drillhole DR-11-06 was drilled 65 metres to the west of this mineralization and it intersected 49.3 metres of stringer and disseminated pyrite and pyrrhotite. All holes intersected stratigraphy consistent with the Radiore deposit. Two stratigraphic drillholes were completed 1.3 kilometres southwest of the historical New Hosco Mine (historical production of 1.83 million tonnes grading 1.73% zinc and 1.73% copper). Both drillholes stayed in rocks considered to be the hanging wall to the deposit and they did not intersect mineralization.
On the PD1 deposit, Xstrata Zinc is seeking bids from independent engineering firms for the feasibility study described in the news release dated February 10, 2011. The technical report on the resource calculation has been posted on SEDAR.
Additional information is available at www.donnermetals.com.
PROJECT OVERVIEW
The Matagami Option and Joint Venture Agreement has an area of mutual interest of 4,753 square kilometres and presently includes 2,986 mineral claims covering 644 square kilometres. Donner has the option to earn an initial 50% participating joint venture interest from Xstrata Canada Corporation in the Matagami Project by incurring a total of $25 million of expenditures on exploration and related work on or before May 31, 2011. To date, Donner has provided $24.9 million towards exploration and has the balance of the funds at hand required to exercise the option. Donner will complete its 50% earn-in option in five separate joint venture areas within the Matagami Project, including Bracemac-McLeod and PD1 deposits, on or before May 31, 2011. Following earn-in, five separate joint venture ("JV") areas will be formed with initial interests of 50% Xstrata Zinc and 50% Donner. The JV areas are: South Flank JV area (includes Bracemac-McLeod, McLeod Deep, Orchan West), North Flank JV area (includes Radiore and New Hosco), Central Camp JV area; West Camp JV area (includes the PD1 deposit - Phelps Dodge Corporation of Canada holds a 15% net carried interest and cash payments in the 9 claims covering the PD1 deposit under a 1976 agreement) and the East JV area - see web site for map locations. Following earn-in, Xstrata Zinc has a "bump-up" right in each of the five JV areas to earn back a 15% interest by completing a bankable feasibility study or incurring a maximum of CDN $20 million towards a bankable feasibility study. Pursuant to this bump-up right, the South Flank joint venture area, which includes the Bracemac-McLeod mine, will become a 65% Xstrata Zinc and 35% Donner joint venture. The remaining 4 joint venture areas that comprise the rest of the Matagami project will remain at 50% Xstrata and 50% Donner, subject to remaining bump-up rights. The area of mutual interest remains in effect for two years following earn-in.
The Matagami 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 support the established infrastructure and facilities. Zinc concentrates produced at Matagami are refined at the Noranda Income Fund zinc refinery in Valleyfield, Québec. Copper concentrates are smelted at Xstrata's Horne smelter in Rouyn-Noranda and refined at Xstrata's Canadian Copper Refinery in Montréal, Québec.
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, McLeod Deep and down-dip from Radiore. 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 future 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, Québec (zinc, copper and silver by atomic absorption, and gold by standard fire assay procedures).
Robin Adair (VP of Exploration) is the Qualified Person for Donner Metals Ltd. and is responsible for the technical information reported in this news release.
Click here to view Table 1: Regional Exploration Drilling: http://media3.marketwire.com/docs/don36.pdf
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", "is scheduled", and "expected". Such statements are applicable specifically to the possible future completion of the Matagami Option and both the development of and production from the Bracemac-McLeod Deposit as well as expected assays from exploration drilling. With respect to Donner earning an interest in the Matagami Project, Donner's ability to meet the requirements of the Option and Joint Venture Agreement can be negatively affected by financial markets and Donner's ability to raise financing, among others. With respect to future production, and the commencement thereof, from the Bracemac-McLeod deposit, the forward looking statement using the wording "is scheduled" is in the context of the feasibility study completed by Xstrata Canada Corporation - Xstrata Zinc Canada Division and Genivar Limited Partnership in 2010. "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. This press release refers to information about Xstrata's Perseverance mine and mine property on which the Company has no right to explore or mine. This press release also refers to information about historical production from land covered by the Matagami Project. Investors are cautioned that mineral deposits on other properties and/or historical production on lands under option are not necessarily indicative of characteristics of new mineral deposits discovered on the Matagami Project or future discovery potential. 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, reference to other properties or historical production from the Matagami Project area.
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.
Donner Metals Ltd.
(604) 683-0564 or Toll Free: 1-800-909-8311
(604) 602-9311 (FAX)
donner@bed-rock.com
www.donnermetals.com
gsfl
13 years ago
Retransmission-Donner Metals Ltd.: Bracemac-McLeod Ramp Moves Past 660 Metres
Mar. 7, 2011 (Marketwire Canada) --
VANCOUVER, BRITISH COLUMBIA -- Mr. Harvey Keats, Chief Executive Officer of Donner Metals Ltd. (TSX VENTURE:DON)(FRANKFURT:D4M), reports that the Bracemac-McLeod ramp is currently at 660 metres enroute to the Bracemac-McLeod deposit where initial production from the mine is scheduled to start in January, 2013. In addition to ramp advancement, the installation of mine ventilation facilities and the construction of support infrastructure at the ramp portal are in progress. The existing 4.3 kilometres of haulage road from the portal to the Matagami Mill is also currently being refurbished to accommodate haulage of ore from Bracemac-McLeod. The development of the Bracemac-McLeod deposit is operated by Xstrata Canada Corporation – Xstrata Zinc Canada Division ("Xstrata Zinc") with 12 contractor companies on site currently employing approximately 30 people in addition to Xstrata Zinc personnel.
In addition, exploration drilling has been conducted in the Radiore area, located 11.8 kilometres north of the Bracemac-McLeod deposit, and in the New Hosco area located 18.4 kilometres northwest of the Bracemac-McLeod deposit. Three diamond drillholes were completed on the near-surface, southeastern extension of the historical Radiore Mine (historical production of 0.14 million tons 1.34% zinc, 1.57% copper). Drillhole DR-11-04 targeted a geophysical response 450 metres east of the deposit. It intersected 51.6m of stringer and disseminated pyrite and pyrrhotite. A stepout drillhole from the same set-up (drillhole DR-11-05) intersected 1.8 metres of massive pyrrhotite with traces of chalcopyrite. Drillhole DR-11-06 was drilled 65 metres to the west of this mineralization and it intersected 49.3 metres of stringer and disseminated pyrite and pyrrhotite. All holes intersected stratigraphy consistent with the Radiore deposit. Two stratigraphic drillholes were completed 1.3 kilometres southwest of the historical New Hosco Mine (historical production of 1.83 million tonnes grading 1.73% zinc and 1.73% copper). Both drillholes stayed in rocks considered to be the hanging wall to the deposit and they did not intersect mineralization.
On the PD1 deposit, Xstrata Zinc is seeking bids from independent engineering firms for the feasibility study described in the news release dated February 10, 2011. The technical report on the resource calculation has been posted on SEDAR.
Additional information is available at www.donnermetals.com.
PROJECT OVERVIEW
The Matagami Option and Joint Venture Agreement has an area of mutual interest of 4,753 square kilometres and presently includes 2,986 mineral claims covering 644 square kilometres. Donner has the option to earn an initial 50% participating joint venture interest from Xstrata Canada Corporation in the Matagami Project by incurring a total of $25 million of expenditures on exploration and related work on or before May 31, 2011. To date, Donner has provided $24.9 million towards exploration and has the balance of the funds at hand required to exercise the option. Donner will complete its 50% earn-in option in five separate joint venture areas within the Matagami Project, including Bracemac-McLeod and PD1 deposits, on or before May 31, 2011. Following earn-in, five separate joint venture ("JV") areas will be formed with initial interests of 50% Xstrata Zinc and 50% Donner. The JV areas are: South Flank JV area (includes Bracemac-McLeod, McLeod Deep, Orchan West), North Flank JV area (includes Radiore and New Hosco), Central Camp JV area; West Camp JV area (includes the PD1 deposit - Phelps Dodge Corporation of Canada holds a 15% net carried interest and cash payments in the 9 claims covering the PD1 deposit under a 1976 agreement) and the East JV area - see web site for map locations. Following earn-in, Xstrata Zinc has a "bump-up" right in each of the five JV areas to earn back a 15% interest by completing a bankable feasibility study or incurring a maximum of CDN $20 million towards a bankable feasibility study. Pursuant to this bump-up right, the South Flank joint venture area, which includes the Bracemac-McLeod mine, will become a 65% Xstrata Zinc and 35% Donner joint venture. The remaining 4 joint venture areas that comprise the rest of the Matagami project will remain at 50% Xstrata and 50% Donner, subject to remaining bump-up rights. The area of mutual interest remains in effect for two years following earn-in.
The Matagami 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 support the established infrastructure and facilities. Zinc concentrates produced at Matagami are refined at the Noranda Income Fund zinc refinery in Valleyfield, Québec. Copper concentrates are smelted at Xstrata's Horne smelter in Rouyn-Noranda and refined at Xstrata's Canadian Copper Refinery in Montréal, Québec.
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, McLeod Deep and down-dip from Radiore. 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 future 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, Québec (zinc, copper and silver by atomic absorption, and gold by standard fire assay procedures).
Robin Adair (VP of Exploration) is the Qualified Person for Donner Metals Ltd. and is responsible for the technical information reported in this news release.
Click here to view Table 1: Regional Exploration Drilling: http://media3.marketwire.com/docs/don36.pdf
gsfl
13 years ago
Donner Metals Ltd.: 1.74 Million Tonnes Grading 4.55% Zinc, 1.16% Copper and 19.88g/t Silver Identified at the PD1 Deposit
VANCOUVER, BRITISH COLUMBIA, Jan. 14, 2011 (Marketwire) --
Mr. Harvey Keats, Chief Executive Officer of Donner Metals Ltd. (TSX VENTURE:DON)(FRANKFURT:D4M), reports that the Company has received a NI 43-101 compliant resource calculation for the PD1 deposit from partner Xstrata Canada Corporation - Xstrata Zinc Canada Division ('Xstrata Zinc'). The combined mineral resource (measured and indicated) is 1.74 million tonnes grading 4.55% zinc, 1.16% copper and 19.88g/t silver located between 25 and 515 metres vertical depth and is based on 24 new holes drilled in 2010 in the upper portion of the deposit, above 100 metres vertical depth, and 50 historical drill holes completed between 1973 and 1976 that defined the previous extent of mineralization. Measured resources of 0.6 million tonnes grading 4.34% zinc, 0.83% copper, 19.59g/t silver and 0.12g/t gold occur between 25 and 100 metres vertical depth. The remaining indicated resources are based solely on a re-evaluation of historical drill results.
The completion of this program resulted in the definition of a measured resource at PD1 above 100 metres vertical depth. On this basis, a decision can now be made to conduct a feasibility study on the exploitation by open pit of this portion of the deposit as feed to Xstrata's Matagami mill that could supplement production from Bracemac-McLeod.
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Table 1: PD1 Measured and Indicated Resources
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Vertical
Zinc Copper Silver Gold Specific Depth
Category Tonnes % % g/t g/t Gravity metres
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Measured 596,193 4.34 0.83 19.59 0.12 4.26 25 to 100
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Indicated 262,387 4.26 0.91 19.95 NS 4.33 100 to 200
----------------------------------------------------------------------------
Indicated 528,925 4.25 1.59 21.13 NS 4.30 200 to 300
----------------------------------------------------------------------------
Indicated 272,211 5.48 1.41 20.27 NS 4.30 300 to 400
----------------------------------------------------------------------------
Indicated 71,895 6.32 0.77 12.44 NS 4.30 400 to 500
----------------------------------------------------------------------------
Indicated 5,762 2.64 0.19 8.14 NS 4.30 500 to 515
----------------------------------------------------------------------------
Total 1,737,373 4.55 1.16 19.88 - 4.29 25 to 515
Measured
and
Indicated
Resources
----------------------------------------------------------------------------
----------------------------------------------------------------------------
The definition drill program on PD1 is now finished with a total of 13 new holes completed into the upper portion of the deposit since the last news release. The measured resource calculated for the upper portion of the deposit is based on 24 drill holes completed in 2010, combined with 14 historical drill holes completed between 1973 and 1976. Combined average drill spacing for the measured resource is approximately 20 metres. All remaining indicated resources are based solely on 36 historical drill holes with an average drill spacing of approximately 60 metres. The historical drill holes were included in the new resource estimate on the opinion of Xstrata Zinc Qualified Persons that these data give a reasonable representation of deposit geometry and assay results based on comparison with the 2010 drilling. Drill collar locations have been confirmed for most of the historical drill holes. A specific gravity of 4.3 is applied to all massive sulphide mineralization intersected by historical drilling on the basis of measurements taken from similar mineralization intersected by the 2010 drilling. No direct specific gravity measurements were taken during historical programs.
Table 2 provides composite results for 2010 drilling not previously reported. To view Table 2, please click here: http://media3.marketwire.com/docs/114table2.pdf.
The PD1 deposit is located 31.4 kilometres west-northwest of the operating Matagami mill via a paved and gravel all weather road. The deposit occurs in the north-western end of the West Camp trend which is a 30 kilometre long belt of volcanic rocks that correlate well with the Matagami sequence. The deposit is interpreted to occur within the Wabassee group, stratigraphically above the Key Tuffite, at a stratigraphic position broadly similar to the Bracemac and Upper Bracemac zones. Mineralization is composed of massive sulphides dominated by pyrite with lesser sphalerite, chalcopyrite, and pyrrhotite which subcrop below approximately 20-25 metres of overburden. Mineralization at PD1 dips at approximately 65 degrees to the northeast.
Additional geological information, including maps and sections, is available at www.donnermetals.com.
Qualified Persons
The resource estimate for the PD1 deposit was conducted by Xstrata Zinc. Qualified Persons for Xstrata Zinc responsible for the technical information are Gilles Roy, P.Geol. and Patrick M. Carr, Ph.D., P.Geol..
Technical Report
A technical report on the PD1 resource estimate will be filed by Donner on SEDAR within 45 days of this press release.
PROJECT OVERVIEW
The PD1 deposit is covered by the terms of the Matagami Option and Joint Venture Agreement which has an area of mutual interest of 4,753 square kilometres. The Matagami project presently includes 2,986 mineral claims covering 644 square kilometres including 9 contiguous mineral claims covering the PD1 deposit that are subject to cash and royalty payments to Phelps Dodge Corporation of Canada.
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. To date, Donner has provided $24.9 million towards exploration and has the balance of the funds at hand required to exercise the option. Following earn-in, five separate joint venture ("JV") areas will be formed with initial interests of 50% Xstrata Zinc and 50% Donner. The JV areas are: South Flank JV area (includes Bracemac-McLeod, McLeod Deep, Orchan West), North Flank JV area, Central Camp JV area; West Camp JV area (includes the PD1 deposit - Phelps Dodge Corporation of Canada holds a 15% net carried interest and cash payments in the 9 claims covering the PD1 deposit under a 1976 agreement) and the Regional JV area - see web site for map locations. Following earn-in, Xstrata Zinc has a right in each of the five JV areas to earn back a 15% interest by completing a bankable feasibility study or incurring a maximum of CDN $20 million towards a bankable feasibility study. The area of mutual interest remains in effect for two years following earn-in.
The Matagami 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 support 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, McLeod Deep and down-dip from Radior. 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 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) is the Qualified Person for Donner Metals Ltd. and is relying on the information provided by the Qualified Persons from Xstrata Zinc, as noted above, 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", and "could" applicable specifically to the possible future completion of the Matagami Option, development and production from the Bracemac-McLeod Deposit or potential future decisions related to the PD1 Deposit. With respect to Donner earning an interest in the Matagami Project, Donner's ability to meet the requirements of the Option and Joint Venture Agreement can be negatively affected by financial markets and Donner's ability to raise financing, among others. "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. This press release refers to information about Xstrata's Perseverance mine and mine property on which the Company has no right to explore or mine. This press release also refers to information about historical production from land covered by the Matagami Project. Investors are cautioned that mineral deposits on other properties and/or historical production on lands under option are not necessarily indicative of characteristics of new mineral deposits discovered on the Matagami Project or future discovery potential. 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, reference to other properties or historical production from the Matagami Project area.
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.
Donner Metals Ltd.
(604) 683-0564 or Toll Free: 1-800-909-8311
(604) 602-9311 (FAX)
donner@bed-rock.com
gsfl
13 years ago
Vancouver, B.C., December 15, 2010 – Mr. David Patterson, Chairman of Donner Metals Ltd. (TSXV-DON), reports that the Company has closed its previously announced $1,150,000 non-brokered private placement. The funds were raised through the issuance of 3,593,750 flow-through shares at a price of $0.32 per share. The shares issued in connection with the private placement are subject to a hold period expiring April 14, 2011.
The Company is undertaking an additional non-brokered private placement in an amount of $1,500,000. The private placement will consist of 4,687,500 flow-through shares at a price of $0.32 per share. The private placement is subject to the approval of the TSX Venture Exchange. Funds raised by way of the non-brokered private placement will be used for exploration of the Matagami Zinc/Copper Project, located in Québec, which is subject to the Option and Joint Venture Agreement with Xstrata Canada Corporation - Xstrata Zinc Canada Division.
ON BEHALF OF THE BOARD OF
DONNER METALS LTD.
“David Patterson” Chairman
gsfl
13 years ago
DONNER APPOINTS VICE PRESIDENT OF ENGINEERING
Vancouver, B.C., December 8, 2010 – Mr. David Patterson, Chairman of Donner Metals Ltd. (TSXV-DON), reports that Mr. Ron Tessier has been appointed Vice President of Engineering of Donner Metals. Mr. Tessier has forty years of experience in a broad range of activities related to research, feasibility studies, construction, commissioning, operation, and maintenance of numerous mining and treatment facilities throughout North America.
In particular, Mr. Tessier’s recent experience in the Matagami Camp is a great asset for the Company. In 2006 he managed the positive feasibility study of the Perseverance Mine. In 2007, as Mine Manager, Mr. Tessier oversaw the construction of Xstrata’s $160 Million Perseverance Project, which was completed on budget and 6 months ahead of schedule in mid-2008. Production from Perseverance is currently expected to be finished by the end of 2012, at which time the Donner – Xstrata Bracemac-McLeod deposit is scheduled to begin production. The Company has granted Mr. Tessier 400,000 options exercisable at $0.28 per share for a period of 2 years.
In addition, the Company is undertaking a non-brokered private placement in an amount of $1,150,000. The private placement will consist of 4,687,500 flow-through shares at a price of $0.32 per share.
Funds raised by way of the non-brokered private placement will be used for exploration of the Matagami Zinc/Copper Project, located in Québec, which is subject to the Option and Joint Venture Agreement with Xstrata Canada Corporation - Xstrata Zinc Canada Division.
The private placement is subject to the approval of the TSX Venture Exchange. ON BEHALF OF THE BOARD OF
DONNER METALS LTD.
gsfl
14 years ago
Donner and Xstrata Receive Development of the Year Award
VANCOUVER, BRITISH COLUMBIA, Nov. 29, 2010 (Marketwire) -- Mr. Harvey Keats, Chief Executive Officer of Donner Metals Ltd. (TSX VENTURE:DON)(FRANKFURT:D4M), is pleased to announce that the Company and its joint venture partner Xstrata Canada Corporation - Xstrata Zinc Canada Division (Xstrata Zinc) have received the "Development of the Year" award by the AEMQ (L'Association de l'exploration miniere du Quebec). This award was presented at the Quebec Exploration 2010 conference in recognition of the commencement of development of the Bracemac-McLeod Mine in July of this year. Under the feasibility study completed by Genivar Limited Partnership and Xstrata Zinc, the mine is scheduled for production in January 2013 and will produce at a rate of 2500 tonnes per day over an expected mine life of four years on current mining reserves of 3.73 million tonnes grading 9.60% zinc, 1.26% copper, and 28.25g/t silver and 0.43g/t gold (see news release September 2, 2010). The mine is expected to produce 606 million pounds zinc, 83 million pounds copper, 1,497,000 ounces silver and 13,090 ounces gold. Potential to expand the mine exists on the basis of inferred resources of 2.63 million tonnes grading 8.78% zinc, 1.31% copper, 38.83g/t silver and 1.06g/t gold that will be assessed when underground development is established.
Donner's Chairman David Patterson comments on this award and the Matagami Project at http://www.smallcapepicenter.com/executive/DON25November2010/index.htm.
Additional geological information, including maps and sections, is available at www.donnermetals.com.
ON BEHALF OF THE BOARD OF
DONNER METALS LTD.
Harvey Keats, Chief Executive Officer
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