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  • Donner Metals Celebrates First Production At Bracemac-McLeod 0 comments
    May 16, 2013 12:37 PM

    Production has kicked off at Donner Metals' (CVE:DON) Bracemac-McLeod zinc-copper mine in Quebec at the anticipated rate of 3,000 tonnes per day.

    Donner's partner and operator, Glencore Xstrata (LON:GLEN), is now processing copper and zinc ore from the new mine following the depletion of ore at its wholly-owned Perseverance mine, which is adjacent to Bracemac-McLeod.

    Discovered in 2007 by the Donner and Glencore Xstrata team, the Bracemac-McLeod mine is 65% owned by GlencoreXstrata, with the remainder held by Toronto-listed Donner.

    As operator, Glencore Xstrata is responsible for the execution of all development, production, processing, milling, smelting and refining activities related to the Bracemac-McLeod Mine, as well as the exploration programmes conducted on the Matagami Project.

    The Donner Metals team provides technical input and is also an integral part of the mine's management team; indeed, at a recent investors' conference, Donner's management team said it is often hard to determine at management meetings who works for which company, such is the unity of purpose.

    The mine is the 12th zinc mine in the Matagami district of Quebec. The deposit contains proven and probable mineral reserves of 3.7mln tonnes, grading 9.60% zinc, 1.26% copper, and 28.25 grams per tonne (g/t) silver and 0.43 g/t gold.

    Inferred mineral resources of 2.6 million tonnes grading 8.79% zinc, 1.31% copper, 38.84 g/t silver and 1.06 g/t gold are located in proximity to the proven and probable mineral reserves.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

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