South Voisey's Bay exploration results
Donner Resources Ltd DRZ
Shares issued 18,400,762 Sep 29 close $0.88
Tue 30 Sept 97 News Release
Mr David Patterson reports
The company has received interim results from Teck Exploration for the
South Voisey Bay project approximately 90km south of Inco's Voisey's Bay
deposit.
During 1995 and 1996, extensive exploration in the South Voisey Bay area
defined several large olivine gabbro intrusions containing low but
significant copper, nickel and cobalt values. Based on the geological
similarities with the Voisey's Bay area, Teck purchased a 10% equity
interest in the company and agreed to act as general contractor for the
1997 program.
In June 1997, Teck commenced an extensive program of geological work,
geophysics and diamond drilling budgeted at approximately $5,000,000. The
objectives of this program were to evaluate those areas which are known to
be underlain by prospective olivine gabbro intrusions or core claims and to
define additional prospective areas within the peripheral or regional
claims. (Stockwatch June 13 1997)
In summary, results of the program to date confirm the potential for the
discovery of a Voisey's Bay type deposit. Thin intersections of massive
sulphide mineralization containing copper, nickel and cobalt values similar
to Voisey's Bay have been identified within the South Voisey Bay claim
area. (DDH 97-67 located on mineral licence 5518M which forms part of the
Donner (50%), Northern Abitibi (50%) joint venture). In addition, available
data indicates that gravity surveys combined with diamond drilling provide
an effective method of defining and evaluating depressions or possible
Voisey's Bay type targets along the basal contact of the prospective
olivine gabbro intrusions.
To date, Teck has completed a total of 19 drill holes (3,779m) and
approximately 425 line kilometres of gravity and 240 kilometres of max min
surveys.
Although data has only been received for the northern half of the area
covered by the gravity survey, at least four distinct anomalies have been
defined. The first anomaly (referred to as the Abitibi anomaly) is centred
on mineral licence 5518M which forms part of the Donner/Northern Abitibi
joint venture. The second anomaly (referred to as the NDT/latitude anomaly)
straddles the boundary between owned 100% by Donner (Mineral License 3342M)
and ground controlled jointly by Donner, NDT and Latitude (mineral licence
1081M). The third anomaly (referred to as the major anomaly) is centred on
mineral licence 3342M and is 100% owned by Donner. The fourth anomaly
(referred to as the Donner anomaly) is centred on mineral licence 3342M and
is 100% owned by Donner.
These anomalies will be drill tested in the next few weeks, as will a large
gravity anomaly (gravity results pending) in the southern half of the
project area on mineral licence 3603M (100% Donner) and mineral licence
3342M and is 100% owned by Donner.
The massive sulphide mineralization encountered in hole 97-67 assayed up to
1.93% nickel, 1.64% copper and 0.26% cobalt. All drilling and sample
handling was carried out under direct supervision by Teck Exploration
personnel. Assays were conducted by XRAL Laboratories, a division of SGS
Canada of Don Mills Ontario. Check assays are in progress.
Interval Ni Cu Co
(m) % % %
SVB 97-67 176.2 - 176.5 1.73 1.64 0.23
178.9 - 179.5 1.93 1.07 0.26
180-3 - 180.4 1.35 0.84 0.17
The narrow intervals of massive sulphide mineralization intersected in
drill hole 97-67 occur within a much thicker interval of disseminated
mineralization (Teck has reported that the mineralized zone extends from
157.9 to 180.4 metres) exhibiting textures which closely resemble the
massive copper-nickel-cobalt mineralization present at Voisey's Bay.
Due to the significance of the results to date the South Voisey Bay project
drill project budget has been increased to over 10,000 metres and a third
drill rig is being mobilized to the project. The company is well financed
to support the increase in the drill program budget. |
