Donner and Midland Identify Several New Drilling Targets on Valmond Following Geophysical Surveys
16 Januar 2014 - 3:00PM
Marketwired
Donner and Midland Identify Several New Drilling Targets on Valmond
Following Geophysical Surveys
MONTREAL, QUEBEC--(Marketwired - Jan 16, 2014) - Donner Metals
Ltd. ("Donner" or the "Company") (TSX-VENTURE:DON)(FRANKFURT:D4M),
in partnership with Midland Exploration Inc. ("Midland"), is
pleased to report that several new high-priority drilling targets
have been outlined on its Valmond gold property as a result of a
recently completed Induced Polarization ("IP") survey. The Valmond
property is currently wholly owned by Midland and 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.
The Valmond property covers, over more than 10 kilometres, an
important gold-bearing structure trending NW-SE that hosts several
historical 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 been explored in the past and the principal showing known to
date has been traced over a strike length of more than 300 metres.
This gold showing is characterized by an extensive hydrothermal
alteration zone more than 70 metres wide and remains open below a
depth of 200 metres, where the deepest historical drill hole
yielded a grade of 3.77 g/t Au over 1.50 metres.
A pole-dipole IP survey totalling 48.1 line-kilometres was
completed during the month of December 2013 in the central part of
the Valmond property. A detailed interpretation of the survey
results reveals the presence of a strong anomaly characterized by a
sharp drop in resistivity directly caused by the presence of
sulphide mineralization
(pyrite-pyrrhotite-chalcopyrite-arsenopyrite) on the principal gold
showing. This anomaly extends toward the northwest over a distance
of about 800 metres, whereas toward the southeast IP profiles
indicate that the anomaly is located deeper. Two shallow drill
holes are proposed to test the anomaly at 100 metres vertical depth
along the northwest extension of the principal showing, and one
drill hole is proposed to test the southeast plunge at a vertical
depth of about 300 metres, i.e. about 100 metres below historical
drill hole S86-9, which graded 3.77 g/t Au over 1.5 metres (Source:
MRN SIGEOM NTS sheet 32E09; GM46724).
Further east, in an area that has never been drill-tested, four
distinct IP axes characterized by high chargeability values
associated with low resistivity values were detected. These axes
are commonly located along magnetic contacts or near inferred
structural intersections. Five additional shallow drill holes are
proposed to test these new targets at about 100 metres vertical
depth. In addition, a property-wide helicopter-borne VTEM-type
electromagnetic survey, totalling 900 line- kilometres, was also
completed in December 2013. The survey results and the detailed
interpretation are pending.
Maps showing the location of the new drilling targets for the
Valmond property may be consulted using the following link:
http://media3.marketwire.com/docs/922232c.pdf
Conditions of exploration agreement
Donner may earn a 50% interest in the Valmond property in
consideration of exploration expenditures totalling $2,500,000,
including a firm commitment of $300,000 during the first year of
the agreement, and cash payments totalling $250,000 over a period
of four years. Midland will be the project operator for the
duration of the option agreement.
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 Executive 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.514.286.1665donner@bed-rock.comwww.donnermetals.com
(TSXV:DON)
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