MONTREAL, QUEBEC–(Marketwired – Sept. 6, 2016) – Matamec Explorations Inc. (“Matamec” or the “Company“) (TSX VENTURE:MAT)(OTCQX:MHREF) and Canada Strategic Metals (“CSM”) (TSX VENTURE:CJC)(FRANKFURT:YXEN)(OTCBB:CJCFF) are pleased to announce results for the second hole, PT-16-92, drilled during its Summer 2016 exploration program on the Sakami property. This hole, drilled on the Northwest extension of Zone 25 (main zone), returned an intersection of 4.94 g/t Au over 21.05 metres within a wide gold-bearing intersection of 2.52 g/t Au over 48.55 (see table below).
Once again, the drill results for the Northwest extension confirmed the extension of Zone 25 and tend to indicate higher gold grades in this direction (see Matamec and CSM’s press releases of August 25, 2016). The exploration program consists of a total of nine holes for a total of 2,058 metres of drilling.
Table of mineralized intersections from 2016 drilling
|Hole #||From (m)||To (m)||Length * (m)||Au (g/t)|
* The Company estimates the true width of the mineralized zone at 70 to 95% of the core length.
** Results already announced in a press release dated August 25, 2016.
The program is aimed at increasing the size of the main gold zone (Zone 25) to the west-northwest, as well as its south extension at depth. Zone 25 is in the La Pointe sector of the Sakami property. Once this program is complete, Zone 25 will have been tested laterally over more than 300 metres and over 500 metres along its strike.
As soon as CSM and Matamec have received and compiled the results from drillholes PT-16-93 to PT-16-99, they will be disseminated. The locations of the new drill holes are presented in figure 1. Highlights of previous results can be found on the press release dated April 4, 2016.
Guy Desharnais, P.Geo., Ph.D. (OGQ No.1141), is a Qualified Person as per NI 43-101; he reviewed and approved the technical content of this press release.
“Taken together with the promising results from the first hole, these positive findings reinforce our understanding of the main gold zone at Sakami,” said André Gauthier, president and CEO of Matamec. “We look forward to obtaining and sharing the complete results of this summer’s drilling program.”
Matamec Explorations Inc. is a junior mining exploration company whose main focus is in developing the Kipawa HREE JV deposit owned at 72% by the Company and 28% by Ressources Québec (acting as agent of the Government of Québec); Toyota Tsusho Corp. (Nagoya, Japan) holds a 10% royalty on net profit in the deposit. Furthermore, the Company is exploring more than 35 km of strike length in the Kipawa Alkalic Complex for rare earths-yttrium-zirconium-niobium-tantalum mineralization on its Zeus property.
The Company is also exploring for gold, base metals and platinum group metals. Its gold portfolio includes the Hoyle-Matheson Royalties (see the March 2, 2016 and April 28, 2016 press releases), Matheson JV (MJV) and Pelangio properties located along strike and in close proximity to Goldcorp’s Hoyle Pond Mine in the prolific gold mining camp of Timmins, Ontario. Matamec holds a 50% undivided interest in the MJV property and is its operator. In addition, the Company holds a 1% NSR royalty in the Montclerg Property located 48 km northeast of Timmins along the Pipestone Fault.
In Québec, the Company is exploring for strategic metals such as lithium, tantalum, and beryllium on its Tansim property and for precious and base metals on its Valmont and Vulcain properties.
This news release contains “forward-looking information” within the meaning of Canadian securities legislation. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as “scheduled”, “anticipates”, “expects” or “does not expect”, “pursue”, “targeted”, or “believes”, or variations of such words and phrases that state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements are based on assumptions management believes to be reasonable at the time such statements are made. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Although Matamec has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. Factors that may cause actual results to differ materially from expected results described in forward-looking statements include, but are not limited to, those risk factors set out in the Company’s year-end Management Discussion and Analysis dated December 31, 2015 and other disclosure documents available under the Company’s profile at www.sedar.com. Forward-looking statements contained herein are made as of the date of this press release and Matamec disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Figure 1: Sakami Property – New Drill Holes
Figure 1 is available at the following address: http://media3.marketwire.com/docs/Sakami%20Property_fig1_eng.jpg.
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