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Donner Metals Extends Mineralisation At McLeod Deep

Canadian mining junior Donner Metals (CVE:DON) has extended the sulphide mineralisation at the McLeod Deep zone of the Bracemac-McLeod zinc-copper mine in Quebec.

Two drill holes revealed the extension, intersecting "well-developed pipe alteration below the sulphide mineralization suggesting the hydrothermal system is robust in the area", the company said in a statement.

Drilling at McLeod Deep continues with four drills, it added.

Exploration drilling is also in progress between the Bracemac and McLeod zones, with six widely-spaced holes completed to date targeting the Key Tuffite horizon.

Donner said it found anomalous base metal values to the east of the Bracemac-KT zone.

Drilling 7 kilometres north-west of the Matagami mill meanwhile returned the first discovery of semi-massive copper-rich sulphides within a 1.2 kilometre-wide zone of chlorite-silica-pyrite alteration.

Glencore Xstrata operates the mine and owns 65%, while Donner has the remaining 35%.

The deposit contains proven and probable mineral reserves of 3.7mln tonnes grading 9.6% zinc, 1.26% copper, 28.25 grams per tonne silver and 0.43 grams per tonne gold.

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