Donner Metals Ltd.: Valmond Project Update
MONTREAL, QUEBEC--(Marketwired - May 22, 2014) - Donner Metals Ltd. ("Donner" or the "Company") (TSX VENTURE:DON)(FRANKFURT:D4M), provides an update on recent exploration activities on the Valmond gold property (the "Property"). The Property is located about 50 kilometres west of Matagami, Quebec. The Property comprises 111 claims covering a surface area of about 62 square kilometres. It covers a segment of more than 15 kilometres along the gold-bearing Bapst Fault. An option agreement was concluded with Midland Exploration Inc. ("Midland") in November 2013 for the Property. Donner may earn a 50% interest in the 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 this option agreement.
In December 2013, a geophysical program including a helicopter-borne VTEM survey totalling 900 line kilometres and an induced polarization (IP) survey totalling 48.1 kilometres was completed. As a result, several new drilling targets were identified and proposed for drill-testing. A drilling campaign totalling 1,450.2 metres was completed in March 2014. A total of five (5) holes were drilled and three (3) others were abandoned. Two holes were abandoned due to the thick overburden composed of esker sand and gravel, and another drill hole was cancelled due to the lack of water near the drill site. Best results were obtained in drill hole VAL-14-02, which targeted the down-plunge extension of the main showing at about 350 metres vertical depth. This hole was drilled to a total depth of 543.0 metres and intersected altered intermediate tuffs with quartz veinlets and arsenopyrite stringers between 454.50 and 517.65 metres, which yielded several anomalous gold values including 0.46 g/t Au over 0.60 metre (454.50 to 455.10 metres), 0.74 g/t Au over 0.64 metre (487.80 to 488.44 metres), 0.15 g/t Au over 1.00 metre (493.00 to 494.00 metres), 0.44 g/t Au over 0.85 metre (508.00 to 508.85 metres), and 0.10 g/t Au over 0.50 metre (517.15 to 517.65 metres). Two graphitic mineralized (locally up to 80% pyrite) mudstone thick horizons intersected higher up in the hole returned several gold anomalous sections including intervals that graded 0.30 g/t Au over 2.87 metres 0.40 g/t Au over 1.0 metre and 0.41 g/t Au over 0.29 metre. Several IP and VTEM anomalies well located laterally at a distance ranging from 2.0 to 2.5 kilometres that were not tested during this campaign remain priority targets and subsequent drill-testing is recommended.
About Donner Metals
Donner is an exploration company focused on the development of mineral exploration projects in Quebec and on executing a roll-up strategy.
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 headings "Risks and Uncertainties", "Forward-Looking Information" and "Financial risk factors" in the latest Company's Management's Discussion & Analysis on www.sedar.com. 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.
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