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Jan 09, 2008 17:29 ET Donner Metals Ltd.: Drilling Intersects 9.48% Zinc and 2.81% Copper Over 6.00 Metres at Bracemac
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 9, 2008) - Mr. Harvey Keats, Chief Executive Officer of Donner Metals Ltd. (TSX VENTURE:DON)(FRANKFURT:D4M) reports that drilling continues to extend the Bracemac Key Tuffite Zone. Diamond drill hole BRC-07-61 intersected 9.48% Zn, 2.81% Cu, 26.74 g/t Ag and 0.37 g/t Au in massive sulphides over 6.0 metres from 435.00 to 441.00 metres. This hole was drilled 50 metres down-dip from drill hole BRC-07-60 that returned 16.67% Zn, 0.41% Cu, 21.42 g/t Ag and 0.19 g/t Au over 12.05 metres (see news release, November 26, 2007).
Also at Bracemac, BRC-07-62 was drilled 50 metres east of BRC-07-60 and intersected strong pipe alteration and weakly mineralized Key Tuffite. BRC-07-34 was deepened to test the Key Tuffite horizon and intersected pipe alteration 50 metres down-dip and to the east of BRC-07-61. Drilling will continue to test the Bracemac Key Tuffite zone down-dip and to the west of BRC-07-61.
In the McLeod area, revised assays are reported for MC-05-18W7 (see news release, November 26, 2007) that returned corrected results of 18.50% Zn (previously 17.37% Zn) over 11.59 metres in the New McLeod Zone. Assays were also received from MC-05-18W5 that was drilled 50 metres up-dip from MC-05-18 and intersected a thin interval of massive sulphides that returned 11.70% Zn over 0.58 metres. An exploratory drill hole, MC-07-32, was drilled between the New McLeod Zone and the West McLeod Zone. This hole returned strong pipe alteration with 3.17% Zn over 7.6 metres at the Key Tuffite level, 150 metres up-dip and to the west of MC-05-18W4.
All activity at the Matagami Project was suspended on December 17, 2007 for a vacation period and will resume on January 10, 2008, with three drills at Bracemac and McLeod. Results for all unreported holes completed have been received and are reported in Table 1. Additional geological information, including maps and sections, is available at www.donnermetals.com. A total of 83 holes have been completed as of December 17, 2007 for a total of 39,284 metres of drilling since the project began. In 2007, Donner discovered new mineralization at Bracemac in the Upper Bracemac and Bracemac zones and the Key Tuffite horizon. In addition to delineation drilling at Old McLeod, Donner has discovered new mineralization at New McLeod and West McLeod at the Key Tuffite horizon at McLeod.
The Matagami Project has an area of mutual interest of 4,750 square kilometres and presently includes 3,350 mineral claims covering 841 square kilometres. Taking advantage of Xstrata Zinc's extensive historical database, Donner and Xstrata Canada Corporation - Xstrata Zinc Canada Division (Xstrata Zinc) are using a combination of 3D data integration, innovative advanced technologies, new concepts and diamond drilling to explore for new deposits in this prolific mining camp.
The Matagami Mining Camp 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 8.6 billion pounds of Zn and 853 million pounds of Cu and has established infrastructure including the town of Matagami, a railway, a paved road, and a 2,600 t/day mill owned by Xstrata Zinc.
Donner has the option to earn a 50% participating joint venture interest in the Matagami Project by incurring a total of $20 to $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 feasibility study.
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 in the Upper Bracemac and Bracemac zones and the Key Tuffite horizon. In addition to delineation drilling at Old McLeod, Donner has discovered new mineralization at New McLeod and West McLeod at the Key Tuffite horizon at McLeod.
Supplementary Information
The field work on the Matagami Project is being carried out by project operator Xstrata Zinc Canada Division who is responsible for the sampling, submittal of samples for assay, assay verification and QA/QC. Assaying of samples reported in this news release was 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). Sample preparation was done by ALS Chemex of Val D'Or, Quebec. Robin Adair, VP of Exploration for the Company is the Qualified Person responsible for the technical information in this news release.
ON BEHALF OF THE BOARD OF DONNER METALS LTD.
Harvey Keats, Chief Executive Officer
TABLE 1 - New Results
1) BRACEMAC AREA----------------
Key Tuffite Zone,-------------------------------------------------------------------------- UTM Horizon Location Angle/ name- CoreDDH NAD 83 Direction Mineral Length(Depth) Zone 18 (True N) Type From To (metres)----------------------------------------------------------------------------------------------------------------------------------------------------BRC-07-61 307435E, -71 degrees/ (690m) 5506086N 039 degrees KT-MS 435.00 441.00 6.00--------------------------------------------------------------------------BRC-07-62 307462E, -66 degrees/ Pipe 400.00 418.00 18.00(599m) 5506043N 034 degrees 454.10 458.50 4.40--------------------------------------------------------------------------BRC-07-34Ext(i) 307327E, -50 degrees/ Pipe 609.15 640.10 30.95(738m) 5505793N 027 degrees 649.00 656.60 7.60--------------------------------------------------------------------------
--------------------------------------------------------------------------DDH ETW(Depth) (metres) % Zn % Cu g/t Ag g/t Au----------------------------------------------------------------------------------------------------------------------------------------------------BRC-07-61(690m) 6.00 9.48 2.81 26.74 0.37--------------------------------------------------------------------------BRC-07-62 Pipe Alteration(599m) No significant assays expected--------------------------------------------------------------------------BRC-07-34Ext(i) Pipe Alteration(738m) No significant assays expected--------------------------------------------------------------------------Horizon: KT equals Key Tuffite.Mineral Type: MS equals massive sulphides, SM equals semi-massive sulphides, Pipe equals Alteration PipeETW equals Estimated True Width(i) Extended from 464.5 to 738.0 metres
2) MCLEOD AREA--------------
New McLeod Zone-------------------------------------------------------------------------- UTM Horizon Location Angle/ name- CoreDDH NAD 83 Direction Mineral Length(Depth) Zone 18 (True N) Type From To (metres)----------------------------------------------------------------------------------------------------------------------------------------------------MC-07-31 308272E, -76 degrees/ (532m) 5504807N 033 degrees KT-MS In Progress--------------------------------------------------------------------------MC-05-18W5 308266E, -80 degrees/ KT-MS 891.60 892.18 0.55(641m) 5504910N 037 degrees 892.18 893.00 0.82--------------------------------------------------------------------------MC-05-18W7 308266E, -80 degrees/ KT-MS 811.26 822.85 11.59(935m) 5504910N 037 degrees 836.00 839.50 3.50--------------------------------------------------------------------------
--------------------------------------------------------------------------DDH ETW(Depth) (metres) % Zn % Cu g/t Ag g/t Au----------------------------------------------------------------------------------------------------------------------------------------------------MC-07-31(532m)--------------------------------------------------------------------------MC-05-18W5 0.44 11.70 2.21 36.40 0.01(641m) 0.66 0.88 6.21 85.6 0.11--------------------------------------------------------------------------MC-05-18W7 9.27 18.50 0.42 14.52 0.66(935m) 2.80 0.48 2.93 22.07 0.33--------------------------------------------------------------------------Horizon: KT equals Key Tuffite.Mineral Type: MS equals massive sulphides, SM equals semi-massive sulphides.ETW equals Estimated True Width
Exploration Step-out-------------------------------------------------------------------------- UTM Horizon Location Angle/ name- CoreDDH NAD 83 Direction Mineral Length(Depth) Zone 18 (True N) Type From To (metres)----------------------------------------------------------------------------------------------------------------------------------------------------MC-07-32 308148E, -68 degrees/(802m) 5504962N 028 degrees KT 707.80 715.40 7.60--------------------------------------------------------------------------
--------------------------------------------------------------------------DDH ETW(Depth) (metres) % Zn % Cu g/t Ag g/t Au----------------------------------------------------------------------------------------------------------------------------------------------------MC-07-32(802m) 6.08 3.17 0.08 5.63 0.22--------------------------------------------------------------------------Horizon: KT equals Key Tuffite.Mineral Type: MS equals massive sulphides, SM equals semi-massive sulphides.ETW equals Estimated True Width
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Donner Metals Ltd.: New High Grade Intersections Expand Zones at Bracemac and McLeod
3/2/2008
VANCOUVER, BRITISH COLUMBIA, Mar 2, 2008 (Marketwire via COMTEX News Network) --
Mr. Harvey Keats, Chief Executive Officer of Donner Metals Ltd. (TSX VENTURE:DON)(FRANKFURT:D4M), reports the expansion of the Bracemac Key Tuffite Zone with four new high grade intersections in a series of step-out drill holes, up-dip and down-plunge from previously reported sulphide intersections. Also reported are zinc and copper-rich sulphides returned from step-out drilling at the New McLeod and West McLeod Zones.
Drill holes BRC-08-64, 65 and 66 were designed to test the up-dip extension of previously reported massive sulphides in the Bracemac Key Tuffite Zone. Drill hole BRC-08-64 was drilled 70 metres up-dip from BRC-07-47 (13.06% Zn, 2.09% Cu over 21.4 metres) and 30 metres west of BRC-07-53 (11.81% Zn, 1.01% Cu over 4.10 metres). BRC-08-65 was drilled 40 metres up-dip and to the east of BRC-08-64. Drill hole BRC-08-66 was drilled 30 metres west of BRC-08-64. The zone remains open up-dip.
One hole was drilled on the down-plunge extension of the Bracemac Key Tuffite Zone. BRC-08-63 was drilled 70 metres down-dip and to the west of BRC-07-60 (16.67% Zn, 0.41% Cu over 12.05 metres) and 50 metres west of BRC-07-61 (9.48% Zn, 2.81% Cu over 6.0 metres). The Bracemac Key Tuffite Zone remains open down-plunge.
McLeod Area
Two drill holes were completed to the east of the New McLeod Zone. Diamond drill hole MC-07-31W1 was drilled 35 metres east of MC-05-18W7 (18.5% Zn, 0.42% Cu over 11.59 metres) and MC-07-31W2 was drilled 65 metres east of MC-05-18W6 (9.62% Zn, 1.33% Cu over 32.22 metres) and 45 metres down-dip from MC-07-31W1. One hole was completed on the west side of the New McLeod Zone. MC-07-33 intersected the zone 80 metres to the west and up-dip from MC-05-18W4 (8.91% Zn, 1.88% Cu over 11.42 metres).
At the West McLeod Zone, MC-07-30W1 was completed as a wedge cut 25 metres up-dip from MC-07-30 (1.22% Zn, 3.00% Cu over 5.77 metres).
One stratigraphic hole, MC-05-20W1, was drilled 200 metres west and down-dip of the New McLeod Zone and intersected weakly mineralized Key Tuffite followed by strong alteration in the footwall.
Four drills are active on the Matagami Project with continued step-out drilling at Bracemac and McLeod. A total of 46,386 metres of diamond drilling has been completed since the project began in late 2006. Additional geological information, including maps and sections, is available at www.donnermetals.com.
The Matagami Project has an area of mutual interest of 4,750 square kilometres and presently includes 3,350 mineral claims covering 841 square kilometres. Taking advantage of Xstrata Zinc's extensive historical database, Donner and Xstrata Canada Corporation - Xstrata Zinc Canada Division (Xstrata Zinc) are using a combination of 3D data integration, innovative advanced technologies, new concepts and diamond drilling to explore for new deposits in this prolific mining camp.
The Matagami Mining Camp is a world-class mining district, with 18 known VMS deposits, including 10 past producers of varying sizes, including the giant Mattagami 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 8.6 billion pounds of Zn and 853 million pounds of Cu and has established infrastructure including the town of Matagami, a railway, a paved road, and a 2,600 t/day mill owned by Xstrata Zinc.
Donner has the option to earn a 50% participating joint venture interest in the Matagami Project by incurring a total of $20 to $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 feasibility study.
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 in the Upper Bracemac and Bracemac zones and the Key Tuffite horizon. In addition to delineation drilling at Old McLeod, Donner has discovered new mineralization at New McLeod and West McLeod at the Key Tuffite horizon at McLeod.
Supplementary Information
The field work on the Matagami Project is being carried out by project operator Xstrata Zinc Canada Division who is responsible for the sampling, submittal of samples for assay, assay verification and QA/QC. Assaying of samples reported in this news release was 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). Sample preparation was done by ALS Chemex of Val D'Or, Quebec. Robin Adair, VP of Exploration for the Company is the Qualified Person responsible for the technical information in this news release.
May 07, 2008 18:22 ET Donner Metals Ltd.: 13.47% Zinc, 2.33% Copper Over 6.95 Metres Intersected at Bracemac; 17.77% Zinc, 0.36% Copper Over 4.10 Metres Intersected at McLeod
VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 7, 2008) - Mr. Harvey Keats, Chief Executive Officer of Donner Metals Ltd. (TSX VENTURE:DON)(FRANKFURT:D4M), reports that the Bracemac, Bracemac Key Tuffite and the McLeod Zones have been expanded with high-grade zinc and copper-bearing massive sulphide intersections encountered in recent drilling.
Bracemac Zone: Drill hole BRC-08-72 intersected massive sulphides in the up-dip extension of the Bracemac Zone located 330 metres stratigraphically above the Bracemac Key Tuffite Zone. This hole intersected mineralization 35 metres up-dip from BRC-07-30 (8.95% Zn, 1.17% Cu, 31.05g/t Ag, 0.18g/t Au over 9.90 metres). Previously reported drill holes BRC-07-31 and BRC-07-39 are located a further 25 and 45 metres up-dip and to the east of BRC-08-72 respectively. Both intersected strong alteration at the Bracemac Zone stratigraphic level.
Bracemac Key Tuffite Zone: BRC-08-72 was continued from the Bracemac Zone to the Key Tuffite horizon where it intersected massive sulphides in the down-dip extension of the Bracemac Key Tuffite Zone. This intersection was drilled 35 metres west and down-dip of BRC-07-34 that intersected Pipe alteration and 40 metres east and down-dip of BRC-08-73 that also intersected strong Pipe alteration in the footwall to the Key Tuffite. Mineralization is open down-dip of BRC-08-72 on the Key Tuffite stratigraphic level.
Drill holes BRC-08-70 and 71 were drilled to delineate the western extent of the upper portion of the Bracemac Key Tuffite Zone. BRC-08-70 was an infill hole drilled 15 metres below BRC-07-55 (16.25% Zn, 0.79% Cu, 41.70g/t Ag, 0.46g/t Au over 0.75 metres) and 40 metres west of BRC-07-46 (22.95% Zn, 0.22% Cu, 54.40g/t Ag 0.41g/t Au over 19.75 metres). BRC-08-71 was drilled up-dip from BRC-07-42 (9.09% Zn, 0.19% Cu, 18.22g/t Ag, 0.18g/t Au over 2.00 metres) and BRC-07-38 (11.41% Zn, 0.26% Cu, 27.08g/t Ag, 0.18g/t Au over 1.3 metres). The Bracemac Key Tuffite Zone is open up-dip and to the west of BRC-08-71.
McLeod
New McLeod Zone: Two drill holes were completed in the New McLeod Zone. MC-08-37 investigated the up-dip extension of the Zone. This hole was drilled 50 metres up-dip of MC-05-18W4 (8.91% Zn, 1.88% Cu, 45.93g/t Ag, 1.35g/t Au over 11.42 metres) and between MC-07-33 (13.30 % Zn, 0.64% Cu, 18.05g/t Ag, 0.71g/t Au over 2.00 metres) and MC-07-22 (19.30% Zn, 1.32% Cu, 28.5g/t Ag, 0.75g/t Au over 5.04 metres). MC-07-33W2 was drilled 75 metres down-dip from MC-05-18W3 (6.48% Zn, 0.39% Cu, 21.75g/t Ag, 0.44g/t Au over 9.4 metres). The extent of the New McLeod Zone has not been delineated and is open in all directions and will require additional drilling.
Old McLeod Area: Drill hole MC-08-38 was drilled to test the Key Tuffite horizon 200 metres up-dip from the Old McLeod Zone and to test an off-hole geophysical anomaly detected in MC-08-35. The hole intersected weakly mineralized Key Tuffite with well developed chlorite and Pipe alteration underlying the Key Tuffite. An explanation of the targeted geophysical anomaly was not detected and additional drilling is underway.
West McLeod Area: Three drill holes were completed to investigate the extension of mineralization encountered in MC-08-36 (18.10% Zn, 3.14% Cu, 61.28g/t Ag, 1.37g/t Au over 4.18 metres). MC-08-36 intersected new mineralization at a stratigraphic level roughly equivalent to the Bracemac Zone, approximately 250 metres above the Key Tuffite horizon in this area. MC-08-39 intersected massive sulphides 30 metres down-dip and to the west of mineralization encountered in MC-08-36. MC-08-41 intersected gabbro 35 metres up-dip and to the east of MC-08-36. MC-08-42 was drilled 50 metres up-dip and to the west of MC-08-36. It intersected strong Pipe alteration over 84 metres immediately below the new horizon. All three holes were continued to the Key Tuffite horizon where MC-08-39 and 41 both encountered strong Pipe alteration immediately below the Key Tuffite horizon.
Details of the assay results can be found in the attached Appendix 1. Four drills are active on the Matagami Project at Bracemac and McLeod. A total of 56,244 metres of diamond drilling in 119 drill holes has been completed since the project began in late 2006. Additional geological information, including maps and sections, is available at www.donnermetals.com.
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. Taking advantage of Xstrata Zinc's extensive historical database, Donner and Xstrata Canada Corporation - Xstrata Zinc Canada Division (Xstrata Zinc) are using a combination of 3D data integration, innovative advanced technologies, new concepts and diamond drilling to explore for new deposits in this prolific mining camp.
The Matagami Mining Camp 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, 20.91g/t Ag and 0.41g/t Au) discovered in 1957 and mined from 1963 to 1988. The area is host to historical production of 8.6 billion pounds of Zn and 853 million pounds of Cu and has established infrastructure including the town of Matagami, a railway, a paved road, and a 2,600 t/day mill owned by Xstrata Zinc.
Donner has the option to earn a 50% participating joint venture interest in the Matagami Project by incurring a total of $20 to $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 feasibility study.
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 in the Upper Bracemac and Bracemac zones and the Key Tuffite horizon. In addition to delineation drilling at Old McLeod, Donner has discovered new mineralization at New McLeod and West McLeod at the Key Tuffite horizon at
May 27, 2008 03:05 ET Donner Metals Ltd.: Four New High Grade Intersections at Bracemac/McLeod Including 23.70 Metres of 5.63% Copper and 11.46% Zinc
VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 27, 2008) - Mr. Harvey Keats, Chief Executive Officer of Donner Metals Ltd. (TSX VENTURE:DON)(FRANKFURT:D4M), reports a significant expansion of the Bracemac Key Tuffite Zone at the Company's Matagami Project. Diamond drill hole BRC-08-74, designed to test for mineralization down-dip of this zone, returned a 23.70 metre interval of high-grade, massive sulphides averaging 5.63% copper and 11.46% zinc. The New McLeod Zone, approximately 1 kilometre east of Bracemac, has been extended up-dip by intersections of high-grade, massive sulphides encountered in diamond drill holes MC-08-40 (1.1 metres) and MC-08-43 (8.54 metres). Drilling in MC-08-45, 250 metres up-dip of the New McLeod Zone, has also intersected high-grade massive and semi-massive sulphides over 6.35 metres.
Bracemac Zone: Diamond drill hole BRC-08-74 intersected unmineralized Bracemac Tuffite horizon 50 metres east and down-dip from BRC-07-28 (9.83% Zn, 0.90% Cu, 13.3 g/t Ag, 0.18 g/t Au over 6.90 metres).
Bracemac Key Tuffite Zone: Drill hole BRC-08-74 was continued to its primary target at the Bracemac Key Tuffite horizon where it extended the Bracemac Key Tuffite Zone by intersecting 23.70 metres of high-grade, massive sulphides, 60 metres down-dip and to the west of BRC-08-72 (11.26% Zn, 2.28% Cu, 8.78 g/t Ag, 0.45 g/t Au over 8.35 metres). Both BRC-08-72 and BRC-08-74 indicate significant thickening of high-grade massive sulphides in this area and the zone remains open for expansion.
McLeod Area
New McLeod Zone: Two drill holes were completed up-dip of the New McLeod Zone. MC-08-40 investigated the up-dip extension on the east side of the zone. This hole was drilled 50 metres up-dip of MC-07-31W1 (0.42% Zn, 1.50% Cu, 24.27 g/t Ag, 0.74 g/t Au over 3.0 metres) and 55 metres due east of MC-07-22 (19.30% Zn, 1.32% Cu, 28.5 g/t Ag, 0.75 g/t Au over 5.04 metres). MC-08-43 was drilled on the western side of the zone, 60 metres up-dip from MC-08-37 (17.77% Zn, 0.36% Cu, 16.13 g/t Ag, 1.34 g/t Au over 4.1 metres). Ongoing delineation drilling is designed to expand the New McLeod Zone and potentially connect it up-dip with the Old McLeod Zone.
Old McLeod, Up-dip: Drill hole MC-08-45 was designed to test off-hole electromagnetic anomalies and well developed Pipe alteration encountered in both MC-08-35 and MC-08-38. MC-08-45 intersected mineralization at the Key Tuffite stratigraphic level, 27 metres down dip from MC-08-38 and 250 metres up-dip from the Old McLeod Zone. Drill hole MC-08-48 was drilled 50 metres west of MC-08-45 and intersected mineralized Pipe alteration over 25.15 metres.
West McLeod Zone: Drill hole MC-08-46 was drilled at an orientation 90 degrees to the standard drill hole direction to test for vertical, northeast - southwest structures that trend parallel to the standard drill orientation. Pipe alteration, locally mineralized, has been observed at and below the Key Tuffite in previous drilling in the West McLeod Zone and is thought to be controlled by the targeted structures. MC-08-46 undercut the area between MC-07- 30 -W1 (0.89% Zn, 2.77% Cu, 12.23 g/t Ag, 0.05 g/t Au over 2.24 metres) and MC-07-21 (traces of chalcopyrite associated with chloritized structures). It intersected three zones of remobilized and replacement, pyrite-rich massive sulphides with quartz. Mineralization is hosted within Pipe alteration, with local chalcopyrite stringers, and strongly chloritized rhyolite at the Key Tuffite stratigraphic level. The true width and the geometry of the sulphides are uncertain and will require further drill follow-up. The hole is in progress and assays are pending.
Other: Drill hole MC-08-44 was a stratigraphic hole testing a gap in the drilling at a vertical depth of 600 metres midway between the Bracemac and McLeod areas. The hole did not intersect significant mineralization in the upper stratigraphy or at the Key Tuffite level. Historical drill hole MD-88-33, also located between the Bracemac and McLeod areas was deepened to provide for down-hole geophysical surveying. The original drill hole intersected the Key Tuffite at 700 metres vertical depth.
Details of the assay results can be found in the attached Appendix 1. Four drills are active on the Matagami Project at Bracemac and McLeod. A total of 61,012 metres of diamond drilling in 128 drill holes has been completed since the project began in late 2006. Additional geological information, including maps and sections, is available at www.donnermetals.com.
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. Taking advantage of Xstrata Zinc's extensive historical database, Donner and Xstrata Canada Corporation - Xstrata Zinc Canada Division (Xstrata Zinc) are using a combination of 3D data integration, innovative advanced technologies, new concepts and diamond drilling to explore for new deposits in this prolific mining camp.
The Matagami Mining Camp 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 8.6 billion pounds of Zn and 853 million pounds of Cu and has established infrastructure including the town of Matagami, a railway, a paved road, and a 2,600 t/day mill owned by Xstrata Zinc.
Donner has the option to earn a 50% participating joint venture interest in the Matagami Project by incurring a total of $20 to $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 feasibility study.
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 in the Upper Bracemac and Bracemac zones and the Key Tuffite horizon. In addition to delineation drilling at Old McLeod, Donner has discovered new mineralization at New McLeod and West McLeod at the Key Tuffite horizon at McLeod.
Supplementary Information
The field work on the Matagami Project is being carried out by project operator Xstrata Zinc Canada Division who is responsible for the sampling, submittal of samples for assay, assay verification and QA/QC. Assaying of samples reported in this news release was 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). Assays for MC-08-40 and BRC-08-74 are preliminary as assays and certification from ALS Chemex-Chimitec are pending. Sample preparation was done by ALS Chemex of Val D'Or, Quebec. Robin Adair, VP of Exploration for the Company is the Qualified Person responsible for the technical information in this news release.
May 28, 2008 09:00 ET Donner Metals Ltd.: $3 Million Debenture Offering
VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 28, 2008) - Mr. David Patterson, Chairman of Donner Metals Ltd. (TSX VENTURE:DON)(FRANKFURT:D4M), announces that the Company is undertaking a debenture offering in the amount of $3,000,000.
The Debentures will bear interest at the rate of 12% per annum and have a two year term; however the Company may redeem all or part of the outstanding principal (and accrued interest) at any time. The Debenture will be secured against all of the Company's present and future-acquired assets, on a first ranking priority basis.
For every ten dollars ($10.00) invested the Debenture Holder will be entitled to either (a) Warrants entitling the holder to purchase fourteen additional common shares of the Company for a period of two years from the date of closing at a purchase price of $0.38 per share; or (b) seven common shares of the Company. Each Warrant will entitle the holder to acquire one common share from treasury at an exercise price of $0.38 for 24 months from Closing Date.
The funds raised by way of the private placement will be used for exploration of the Matagami Zinc/Copper Project, located in Quebec, which is subject to the Option and Joint Venture Agreement with Xstrata Canada Corporation - Xstrata Zinc Canada Division (Xstrata Zinc), as well as general working capital.
The Debenture is subject to the approval of the TSX Venture Exchange.
