Hi Vaughn
Hope you got in today! or better luck tomorrow?
NEWS RELEASE TRANSMITTED BY CCNMatthews
FOR : Donner Minerals Ltd.
TSX SYMBOL: DML
OTC Bulletin Board SYMBOL: DNNMF
FRANKFURT SYMBOL: DNL
August 16, 2002
Donner Minerals Ltd.: South Voisey Bay Update
VANCOUVER, BRITISH COLUMBIA--Mr. Harvey Keats, President of Donner Minerals
Ltd., provides the following progress report on the ongoing drill program at
the South Voisey Bay Project. To date, four drill holes have been completed
and a fifth is currently underway. The Company has only received assays for
the first hole and higher priority assays for the second hole. Summary assay
tables are attached to this news release.
The first hole (SVB-02-137) was drilled in a large high conductance UTEM
anomaly. The second hole (SVB-02-138) was a 500 metre step-out to the
southeast along the conductor axis. The third hole (SVB-02-139) was a 350
metre step-out to the northeast of SVB-02-137. SVB-02-137 was drilled to a
total depth of 435.0 metres and intersected the base of the gabbro at 405.35
metres. SVB-02-138 was drilled to a total depth of 327.0 metres and
intersected the base of the gabbro at 271.35 metres. SVB-02-139 was drilled to
a total depth of 501.0 metres and intersected the base of the gabbro at 470.9
metres.
Both of the first two holes encountered significant, but sub-economic
sulphides. The best grade in SVB-02-137 is 0.84% nickel, 0.51% copper and
0.51% cobalt over 0.84 metres in massive sulphides hosted by gabbro. The best
grade in SVB-02-138 is 1.37% nickel, 0.64% copper and 0.16% cobalt over 0.77
metres in massive sulphide hosted by gneiss. However, it is encouraging to
note that in SVB-02-137 there is an obvious increase in nickel tenor (nickel
re-calculated to 100% sulphides) in the samples with less than 15% sulphide.
The eleven metres of disseminated sulphides overlying the semi-massive and
massive sulphides encountered in SVB-02-137 has a nickel tenor ranging from
2.14% to 3.84%, with an average nickel tenor of 2.92% over 11.33 metres. The
presence of higher nickel tenor has encouraging implications for the prospect
of finding higher grade sulphides on the South Voisey Bay Project. Assays have
not yet been received for all of the sulphide zones in the second hole,
SVB-02-138. Hole SVB-02-139 encountered sulphides at the base of the gabbro
and in the underlying gneiss similar to holes SVB-02-137 and SVB-02-138.
Assays for hole SVB-02-139 have not yet been received.
SVB-02-140, located 1 km southwest of SVB-02-138, was drilled in a separate
UTEM conductor to a total depth of 288.0 metres and intersected the base of the
gabbro at 266.0 metres. Hole SVB-02-140 encountered sulphides at the base of
the gabbro and in the underlying gneiss similar to holes SVB-02-137 and
SVB-02-138. Assays for hole SVB-02-140 have not yet been received.
SVB-02-141, currently in progress, is located 400 metres southwest of
SVB-02-140.
The sulphides encountered in holes SVB-02-137 and SVB-02-138 is sufficient to
explain the high conductance measured by UTEM on surface. However, the UTEM
survey is currently unable to distinguish greater thicknesses of semi-massive
and massive sulphides from the high conductance sulphides encountered in the
holes.
Importantly, the UTEM survey has demonstrated its ability to detect high
conductance sulphides up to a depth of 470 metres below surface and is able to
distinguish the sulphides encountered in holes SVB-02-137 and SVB-02-138 from
the low percentage sulphides commonly occurring at the base of the gabbros.
The survey is also able to distinguish graphite from the high conductance
sulphides in the gabbros and in the gneisses.
Overcoming these technical difficulties has led to the ability to focus
drilling on high conductance targets and avoid drilling graphite in gneiss and
low percentage sulphides at the base of gabbros, common throughout the
property. The Company and Falconbridge are confident that this approach of
targeting high conductance sulphides is the most effective way to search for
any economic sulphides on the South Voisey Bay Project.
The 2002 exploration program is being carried out and funded by Falconbridge
Limited under an agreement whereby Falconbridge can earn a 50% interest in the
South Voisey Bay Project.
All holes drilled to date have been drilled on the South Gabbro on SVB Nickel
Company Ltd. ("SVBN") ground. The ownership of SVBN is as follows: Donner
Minerals Ltd. 76.69%; Cypress Development Corp. 11.36%; NDT Ventures Ltd.
6.55%; UC Resources Ltd. 5.40%.
In addition to the above, geology and geophysics have been carried out on joint
venture ground held by Donner/Northern Abitibi Mining Corp., Donner/Commander
Resources Ltd. and SVBN/Pallaum Minerals Ltd.
ON BEHALF OF THE BOARD OF DONNER MINERALS LTD.
Harvey Keats, President |
