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.
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