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.
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