Donner Minerals Ltd -
VSE approves Miller Mountain acquisition
Donner Minerals Ltd DMLShares issued 31,689,6571998-11-05 close $0.42Friday Nov 6 1998See Latitude Minerals Corp (LTU) News Release Mr. John Carden reports Latitude Minerals has received approval from the VSE for the acquisition of a 100 per cent interest in the Miller Mountain gold deposit in West Central Montana. The Miller Mountain gold deposit is part of an extremely large, intrusive-hosted gold system. Gold mineralization is hosted in granodiorite and quartz monzonite intrusives of Cretaceous age. A sizable open-ended resource, defined by nearly 400 holes drilled between 1984 and 1993 exists at the Miller Mountain intrusive where a cross-sectional global resource estimate by Pegasus yielded 864,000 to 975,000 ounces of gold. Of significance are the results of a recent airborne magnetic survey of the area which suggests the presence of at least three large, westward-dipping tabular intrusive sheets similar to that hosting the Miller Mountain deposit. The company intends to conduct a 6,000 foot reverse circulation drill program on the property in the near future. Exploration success at either of the additional targets could substantially increase the current resource for the property. As consideration for the acquisition, the company has issued 20,000 shares as a finder's fee. The shares are subject to pooling restrictions until Feb. 19, 1999. Latitude Minerals holds interests in four gold properties in the Western United States with gold resources in place of greater than 1.85 million ounces as well as a 25 per cent interest in project 79 in South Voiseys Bay, Labrador, with Donner Minerals (25 per cent) and NDT Ventures (50 per cent). The property is to the south of and is contiguous with the Northern Abitibi/Donner Minerals property on which nickel-copper-cobalt mineralization was intersected in 1997. A work program under the supervision of Teck Exploration is currently under way at the property. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com
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