From this mornings Canaccord Morning Coffee ...
DONNER MINERALS LTD (DML-V; 31.7M o/s) Progress report on $9.2-M phase
I of the 1998 South Voisey Bay project. To date approximately 35% of
the 22,500 metre phase I drilling program (16 holes) has been
completed. In the North Gabbro numerous narrow zones of semi-massive
and massive sulphide have been intersected within a pervasive
contaminated zone at the base of a large olivine gabbro. A Crone low
frequency multi-channel pulse EM survey has been selected to see
through the graphite in the upper gabbro and discriminate between any
significant thickness of massive sulphides and the enveloping widely
spread disseminated and blebby sulphides within the basal contaminated
gabbro (blanket mineralization). The PEM survey which recently began
has identified a large and strong 42 channel low frequency anomaly
southeast of the 1997 Northern Abitibi discovery area and on the west
side of the Major General/Donner property where a feeder has been
recently interpreted. The area of the anomaly has not yet been drill
tested. Drilling in the South gabbro has confirmed the presence of
multiple sills as well as the possible location of a second and third
feeder zone on the South Voisey Bay property. These feeders are
affiliated with coincident gravity highs defined by 1997 surveys. Two
drills are presently operating on the North Gabbro and one drill on
the South gabbro under the field supervision of Teck Exploration.
NORTHERN ABITIBI/DONNER A total of nine drill holes totalling
approximately 3,300 metres has been completed on the Northern
Abitibi/Donner joint venture. Thin intersections of semi-massive and
massive sulphide mineralization at the base of the olivine gabbro unit
were encountered. The test PEM geophysical survey shows the area
containing the 1997 massive sulphide intercepts and the above six
holes to be moderately anomalous, however PEM has identified a large
anomaly 600m to the southeast which is highly conductive and has not
been drill tested. Drill holes 98-105, 98-106, 98-108 and 98-111 (in
progress) have been drilled to test the gravity anomalies on the
western sector of the property and have intersected only thicker
gabbros than that identified in the drilling to the east.
MAJOR GENERAL/DONNER Three holes (97-92, 98-107 and 98-109) have been
drilled from the same location. Significantly, both holes encountered
several narrow gabbroic dykes, including one 12 metres wide, within
the gneiss. These dykes are interpreted as offshoots from the main
feeder identified in 97-92 and possible conduits for nickel-copper
sulphides to the base of the olivine gabbro. PEM has identified a
strong anomaly in the southwest corner of the Major General/Donner
area and the adjacent Northern Abitibi/Donner ground, southwest of the
0.2m thick massive sulphide intersection in 98-107.
NDT/LATITUDE/DONNER To date one hole (97-73), which was originally
terminated in gneiss at 391.7m, has been deepened to 712.6m and
terminated while still in gneiss. Additional drilling will be carried
out on the joint venture upon the completion of the PEM survey.
CYPRESS/DONNER Hole 97-79 was deepened from 701.0m to 999.7m and hole
97-91 was deepened from 311.8m to 1,098.8m. Drilling in hole 97-79 has
defined a particularly thick olivine gabbro with 11.5m of heavily
disseminated to semi-massive magmatic sulphides near the base. This
hole is immediately west of a prominent gravity anomaly which is
interpreted to be a second feeder to the overlying sills. Exploration
of this prospective intrusive complex and related feeder will consist
of EM surveys and follow-up drilling. The second hole, 97-91
terminated in gabbro at 999.7m after coring a complex series of
gabbros similar to that encountered in 97-92 on the Major
General/Donner joint venture. A strong off-hole anomaly has been
identified at a depth of 370m, 100m northeast of 97-91. A third hole,
98-110 (in progress) intersected contaminated olivine gabbro,
graphitic paragneiss and olivine gabbro. The hole is currently at
397.8m in graphitic paragneiss and will be continued to explore for a
possible third gabbro unit. The Cypress property has now been
identified as a geologically complex area, with multiple sills of
varying thickness, as well as interpreted feeders.
DONNER 100 PER CENT One hole has been drilled and one deepened on
ground wholly owned by Donner in the South Gabbro. Anomalous
thickness of complex gabbro intersected in these holes may confirm the
southern extension of the interpreted feeder adjacent to hole 97-79.
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