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Gold/Mining/Energy : Donner Minerals (DML.V) -- Ignore unavailable to you. Want to Upgrade?

To: Clark Kent who wrote (6186)	7/20/1998 11:08:00 AM
From: Sky High	Read Replies (1) \| Respond to of 11676

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.