DRilling
Game on ets get that big lodeDonner to begin drilling on South Voisey's Bay project
Donner Minerals Ltd DML
Shares issued 48,489,157 Jun 26 close $0.51
Wed 26 Jun 2002 News Release
Also (FL)
Mr. Harvey Keats reports
MOBILIZATION UNDERWAY - DRILLING TO BEGIN SOON
The company's South Voisey's Bay project camp in now open and operational.
Mobilization of line cutters, geophysics crews and drillers is continuing.
Drilling on the South Voisey's Bay project is expected to begin in
approximately 10 days. Line cutting is under way and surface UTEM will
begin shortly.
The 2002 program will include approximately 3,500 metres of diamond
drilling in 12 to 20 shallow drill holes targeting untested high-quality
conductors located throughout the South Voisey's Bay project area. Initial
drilling will focus on high-conductance EM anomalies outlined by the 2001
UTEM survey, followed by drilling of high-conductance targets interpreted
from the reprocessed 1997/1998 DEEPEM data and detailed by the 2002 UTEM
surveys.
Falconbridge Limited can earn a 50-per-cent interest in the entire South
Voisey's Bay project by spending $23-million on exploration over a
five-year period.
There are four ownership blocks in the South Voisey's Bay project: the
wholly owned SVBN property; the Donner/Northern Abitibi joint venture
property; the Donner/Commander joint venture property; and the SVBN/Pallaum
Minerals joint venture property.
The ownership of SVBN is as follows: Donner Minerals Ltd., 76.69 per cent;
Cypress Development Corp., 11.36 per cent; NDT Ventures Ltd., 6.55 per
cent; Rcom Ventures Corp., 4.20 per cent; and UC Resources Ltd., 1.20 per
cent. Donner has a 52-per-cent interest in the Donner/Northern Abitibi
joint venture property and Donner has a 52-per-cent interest in the
Donner/Commander joint venture property. SVBN has a 75-per-cent interest in
the SVBN/Pallaum joint venture property.
Donner, Falconbridge, the joint venture partners and the shareholders of
SVBN continue to believe in the excellent potential of the South Voisey's
Bay project to host mineral deposits similar to Voisey's Bay.
(c) Copyright 2002 Canjex Publishing Ltd. stockwatch.com |
