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Further positive developments at South Voisey Bay project
Donner Resources Ltd DRZ
Shares issued 18,400,762 Oct 14 close $1.03
Wed 15 Oct 97 News Release
Also Northern Abitibi Mining Corp (NAI)
Mr David Patterson reports
Further interim results have been received from Teck Exploration for the
continuing South Voisey Bay project, approximately 90km south of Inco's
Voisey's Bay deposit.
Today, Teck has advised that Hole 75 intersected a 1.1m interval of massive
sulphide mineralization 13m below the base of the gabbroic/troctolitic
sequence. Hole 75 is approximately 250m to the west of Hole 67 (see news in
Stockwatch dated October 1 1997). Holes 75 and 67 are on mineral license
5518M which forms part of the Donner (50%)/Northern Abitibi (50%) joint
venture.
The following values are an average of two duplicate analyses completed by
XRAL Laboratories, a division of SGS Canada, of Don Mills Ontario:
Interval Ni(%) Cu(%) Co(%)
----------- ----- ----- -----
SVB 97-75 176.8-177.9 11.75 9.70 0.43
Check, precious and platinum group metal assays are presently being
completed. All drilling and sample handling were carried out under
directsupervision by Teck Exploration personnel.
On September 30 1997, Teck advised that Hole 67 intersected thin intervals
of massive sulfide mineralization within a thick sequence of gabbroic rocks
containing disseminated mineralization. Hole 67 assayed up to: 1.93%
nickel, 1.64% copper and 0.26% cobalt.
These intersections are interpreted as significant since it is similar to
the sequence of mineralization observed at Inco's Voisey's Bay deposit.
Based on the significance of this area (5518M) Teck has completed several
additional drill holes in the vicinity of Holes 67 and 75, all of which
have encountered a gabbroic/troctolitic sequence containing variable
sulphide mineralization.
Holes 67 and 75 are on the flank of a large NNE trending gravity anomaly,
which is interpreted as a possible trough or depression in the olivine
gabbro intrusion.
Based on the similarity to Inco's Voisey's Bay deposit and nickel orebodies
elsewhere, these results are considered extremely important. Extensive
additional drilling is under way and a third drill rig has been mobilized
to the project. Additional interim results will be reported as they become
available.
(c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com |
