- Donner Metals
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Donner Metals Ltd. 
Type Public Traded as TSX-V: DON Industry Mining Founded 1996 Headquarters Vancouver, Canada Key people David Patterson, Chairman
Harvey Keats, CEO
Robin Adair, VP ExplorationProducts Zinc, Copper, Gold, Silver Website www.donnermetals.com Donner Metals Ltd. (TSX-V: DON) is a Canadian advanced exploration company, listed on the TSX Venture Exchange. Its headquarters are in Vancouver, British Columbia, Canada. Donner's principal project is a 50-50 joint venture with Xstrata Zinc Canada in Matagami, Quebec.[1]
Contents
History
The Company was founded in 1995 as a mining exploration company prospecting in South Voisey's Bay, Newfoundland and Labrador.[2] While this project eventually stalled, along the way a relationship with Falconbridge was developed.
In 2006, Donner signed a deal with Falconbridge, wherein Donner is required to spend $20 million by May 31, 2011, plus another $5 million if a brand new discovery was made. The deal effectively makes Donner "the funding vehicle for exploration within the Matagami base metal camp."[3] Xstrata can earn back a 15% interest on the project by spending up to $20 million on a feasibility study.
Donner Metals Ltd.'s CEO Harvey Keats in front of Xstrata Zinc's Matagami Mill
Matagami Project
Since signing the deal, the joint-venture partners have focused their efforts on the Bracemac-McLeod property. The property is located 6 km southeast of Xstrata’s Matagami Mill.[4] A drill program, ongoing since 2006, was wrapped-up in 2008. In February 2009, Donner released a National Instrument 43-101 compliant resource estimate of 3,623,000 tonnes at 11.52% zinc, 1.60% copper, 31.55 g/t silver and 0.49 g/t gold.[5] Since completing a scoping study [6] Xstrata has completed drilling on an accelerated feasibility study on the Bracemac-McLeod area [7] Xstrata begin construction in July 2010, with full production scheduled for January 2013. Xstrata is the operator of the project.
Bracemac-McLeod Mine
On July 9, 2010, Xstrata Zinc announced they will immediately begin development of the Bracemac-McLeod deposit. In an official public statement Xstrata News Room July 9, 2010 made at 11:30am (EST) in Matagami, Xstrata Zinc announced this exciting next step for the Matagami Mining Camp and credited the success of the combined Xstrata-Donner exploration team that made the discovery of this deposit. Xstrata Zinc’s expedient decision to develop Bracemac-McLeod was made in order to meet a timeline that is expected to enable production from Bracemac-McLeod to replace production from Xstrata’s wholly owned Perseverance mine without a gap in feed to the Matagami mill.
CTV News reported that Xstrata Zinc Canada is going ahead with a new base metals mine in northwestern Quebec that will create about 250 jobs. The combined Xstrata-Donner exploration team discovered the ore deposit and the two companies will spend $158-million to develop the project. Jean Desrosiers, vice-president of mining operations for Xstrata Zinc Canada, said he is “delighted” with development of the Bracemac-McLeod mine, which will produce 80,000 tonnes of zinc and 10,000 tonnes of copper annually when it opens in 2013. “The project is a low capital cost, high return project that will provide a continued feed of ore to Xstrata's Matagami concentrator once the Perseverance Mine comes to the end of its life,” he said in a release. “The new mine will use existing processing infrastructure and will provide ongoing employment opportunities for the existing work force at Perseverance. The new mine will also minimize its environmental footprint by using the closed Bell-Allard South mine pit to dig the new ramp.”
Exploration Awards
In November 2007, Donner was presented the Prospector of the Year Award by the Quebec Mineral Exploration Association.[8]
In December 2008, Donner won The Mining Journal (trade magazine)'s Outstanding Exploration Achievement Award.[9]
In November 2010, Donner and Xstrata accepted the Development of the Year award from the Quebec Mineral Exploration Association.
References
External links
Categories:- Companies listed on the TSX Venture Exchange
- Mining companies of Canada
- Zinc mining companies
- Copper mining companies
- Companies based in Vancouver
- Companies established in 1996
- Xstrata
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