Donner Metals Acquires Option on Valmond Gold Property from Midland Exploration
10 Dezember 2013 - 3:00PM
Marketwired
Donner Metals Acquires Option on Valmond Gold Property from Midland
Exploration
MONTREAL, QUEBEC--(Marketwired - Dec 10, 2013) - Donner Metals
Ltd. ("Donner" or the "Company") (TSX-VENTURE:DON)(FRANKFURT:D4M),
is pleased to announce the execution of an option agreement with
Midland Exploration Inc. ("Midland") for the Valmond gold property,
currently wholly owned by Midland. The Valmond property consists of
62 claims covering a surface area of about 35 square kilometres.
This property is located about 50 kilometres west of the town of
Matagami, in Abitibi, Quebec.
Under the terms of this new agreement, Donner may earn 50% of
Midland's interest over a period of four (4) years, by fulfilling
the following conditions:
- Cash payments totalling $250,000, including a $20,000 payment
upon signing the agreement;
- Exploration expenditures totalling $2,500,000, including a firm
commitment of $300,000 during the first year.
Midland will be project operator during the option period. The
Valmond property covers, over more than 10 kilometres, an important
gold-bearing structure trending NW-SE, which hosts several
historical gold occurrences with drill intercepts grading 2.3 g/t
Au over 4.57 metres and 5.22 g/t Au over 1.55 metres. This
structure has seen very little exploration in the past and the main
showing known to date has been traced over more than 300 metres
along strike. This gold showing is characterized by an extensive
hydrothermal alteration zone more than 70 metres wide, and remains
open beyond 200 metres vertical depth, where the deepest drill hole
yielded a grade of 3.77 g/t Au over 1.50 metres. In addition, a
recent helicopter-borne magnetic survey covering the entire
property was used to generate a new detailed structural
interpretation and identify several new promising exploration
targets.
Over the coming weeks, geophysical work including a ground-based
induced polarization survey (50 km) and a helicopter-borne
electromagnetic survey (900 km) will be completed to define new
drilling targets along the extensions of the main gold occurrences.
The property is expected to be drill ready in early 2014.
Maps showing the location of the new option agreement with
Donner for the Valmond property may be consulted using the
following link:
http://www.midlandexploration.com/en/sites/Midland/CustomPage.aspx?Section=0&ResourceId=d77713d0-79fc-4396-9d71-662fe39aa01a
About Donner Metals
Donner is an exploration company focused on the development of
mineral exploration projects in Quebec.
This press release was prepared by Normand Champigny eng.,
acting as Donner's Qualified Person under NI 43-101.
ON BEHALF OF THE BOARD OF DONNER METALS LTD.
Normand Champigny, President & Chief Financial Officer
This news release contains forward-looking information
within the meaning of applicable Canadian securities laws. All
information other than historical fact is forward-looking
information. Forward-looking information relates to future events
or future performance and is based on Donner's current internal
expectations, estimates, projections, assumptions and beliefs.
Forward-looking information is often, but not always, identified by
the use of words such as "expect", "project", "proposed", "intend",
"seek", "anticipate", "budget", "plan", "continue", "estimate",
"forecast", "may", "will", "predict", "potential", "targeting",
"could", "might", "should", "believe" and similar expressions.
Although management considers the assumptions and estimates,
reflected in forward-looking information, to be reasonable, based
on information currently available, there can be no assurance that
such information will prove to be correct. As a consequence, actual
results may differ materially from those anticipated.
Undue reliance should not be placed on forward-looking
information which is inherently uncertain, and subject to known and
unknown risks and uncertainties (both general and specific) and
other factors that contribute to the possibility that the future
events or circumstances contemplated by the forward looking
information will not occur or that may cause the actual results,
level of activity, performance or achievements of the Company to be
materially different from those expressed or implied by such
forward-looking information. These risks include, but are not
limited to risks associated with general economic conditions, the
actual results of current exploration activities, conclusions of
economic evaluations, changes in project parameters as plans
continue to be refined, future metal prices, financial risks and
substantial capital requirements. Further information regarding
certain of these risks (as well as risks relating generally to the
Company's business) may be found under the heading "Financial risk
factors" in the Company's Management's Discussion & Analysis.
Readers are cautioned that the foregoing list of factors that may
affect future results is not exhaustive. The forward-looking
statements contained in this news release are made as of the date
hereof and Donner does not undertake any obligation to update
publicly or to revise any of the included forward-looking
statements, except as required by applicable law. The
forward-looking statements contained herein are expressly qualified
by this cautionary statement.
Neither the TSX Venture Exchange nor it's regulation services
provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
Donner Metals Ltd.Montreal514.286.1665Donner Metals
Ltd.Vancouver604.683.0564donner@bed-rock.comwww.donnermetals.com
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