Donner Minerals Ltd.
Donner Minerals Ltd. english
DONNER PROJECT REVIEW
Corporate-news announcement sent by DGAP.
The sender is solely responsible for the contents of this announcement.
——————————————————————————–
Mr. Harvey Keats, President of Donner Minerals Ltd. provides the following
update on the Company’s nickel exploration projects. The Company’s portfolio of
nickel exploration projects will allow for year round exploration for world
class nickel deposits.
South Voisey Bay Project
Work on the South Voisey Bay Project is scheduled to begin on June 15th with the
opening of the camp. Line cutting will begin shortly thereafter, followed by
surface UTEM in late June and diamond drilling in early July.
Diamond drilling in 12-20 shallow drill holes will target untested high quality
conductors, located throughout the South Voisey Bay Project area. Initial
drilling will focus on high conductance EM anomalies outlined by the 2001 UTEM
survey, followed by drilling of high conductance targets interpreted from the
reprocessed 1997/1998 DEEPEM data and resolved by the 2002 UTEM surveys.
Falconbridge Limited can earn a 50% interest in the entire South Voisey Bay
Project by spending $23,000,000 on exploration over a five-year period.
Management of the Company is pleased to note that there have been numerous
positive developments in the past two weeks for exploration and development in
Labrador. Recent reporting indicates that there has been significant progress in
the negotiations between Inco and the Government of Newfoundland and Labrador
on the development of the Voisey’s Bay deposits. Further evidence of this
progress is the announcement that Inco’s subsidiary, Voisey’s Bay Nickel Company
Ltd., has finalized Impact and Benefits Agreements with both the Innu Nation
and the Labrador Inuit Association. There are also indications that the Canadian
Federal Government is prepared to offer substantial financial assistance for
the construction of an experimental hydrometallurgical processing plant in
Newfoundland.
Labrador Regional Project
The Labrador Regional Project is a joint venture between Donner and Falconbridge
Limited to explore for nickel-copper-cobalt deposits in Labrador outside of the
Voisey’s Bay and South Voisey Bay areas. Under the Labrador Regional Agreement,
the partners have agreed to each spend a minimum of $200,000 per year, over a
two-year period. Any properties acquired will form part of a Joint Venture in
which both Donner and Falconbridge will have a 50% interest.
Donner and Falconbridge believe that areas of Labrador, other than Voisey’s Bay
and South Voisey Bay, have the potential to host Voisey’s Bay like deposits.
Many areas of Labrador were underexplored during the Voisey’s Bay staking rush,
when the details of the Voisey’s Bay model were not available. The purpose of
the Labrador Regional Agreement is to combine the ideas and expertise of Donner
and Falconbridge to realize this potential.
A field program will be carried out this summer as part of the ongoing Labrador
evaluation. The field program will be a combination of regional surveys and
detailed target evaluation.
Stephens Lake Project
The Stephens Lake Project covers 2,578 square kilometers and 110 kilometers of
strike length along the newly interpreted extension of the Thompson Nickel Belt,
one of the most important nickel producing regions in the world. The
interpreted extension is known as the Stephens Lake Belt. Donner has the option
to earn a 50% participating joint venture interest in the Stephens Lake Project
by incurring a total of $5 million of expenditures on exploration and related
work on or before the end of December 31, 2006.
A 9,500 line kilometre airborne (GEOTEM) electromagnetic and magnetic survey has
been completed. Final interpretation of the airborne survey is not complete,
however numerous high conductance targets have been identified that require
ground follow-up with surface magnetic and electromagnetic surveys, prior to
precise drill target selection.
The identification of high conductance targets in the Stephens Lake area
supports the interpretation that the Stephens Lake Belt could be the extension
of the Thompson Nickel Belt.
ON BEHALF OF THE BOARD OF
DONNER MINERALS LTD.
“Harvey Keats”
President
Contact in Europe:
Alexander Holtermann
e-mail: holtermann@htcom.de
Tel: +49-69-219313-59
Fax: +49-69-219313-21
end of message, (c)DGAP 03.06.2002
Latest News
Latest Reports
No Reports found
Upcoming Events
No Events found
Webcasts
No Webcasts found