Matamec Announces New 5,000-metre Drilling Campaign at the Sakami Gold Property, Located in the James Bay Area
February 8, 2018 (Source) — Matamec Explorations Inc. (“Matamec” or the “Company”) (TSX VENTURE:MAT) and Canada Strategic Metals Inc. (“Canada Strategic Metals” or “the Company”) (TSX VENTURE:CJC)(FRANKFURT:YXEN)(OTCBB:CJCFF) are pleased to announce the beginning of the Winter 2018 work program at the Sakami Gold Property, owned at 50% by the two companies. The program will consist of a minimum of 5,000 metres of drilling, focusing on the La Pointe area, on the edge of the lake, taking advantage of the ice coverage on Lake Sakami to confirm a possible westward extension of the known mineralized vein.
Past drill results from the La Pointe area outlined consistent gold mineralization over 700 metres on strike and 450 metres along the plunge to a vertical depth of 300 metres.
CSM will be the operator of this campaign’s exploration work, supervised by a management committee comprised of two representatives from CSM and two representatives from Matamec.
Previous drill results highlights from the La Pointe area:
- 4.94 g/t Au over 21.05 m, including 6.35 g/t Au over 10.55 m (PT-16-92)
- 4.01 g/t Au over 22.6 m, including 7.21 g/t Au over 7.00 m (PT-13-67)
- 4.16 g/t Au over 21 m, including 6.4 g/t Au over 12.67 m (PT-15-87)
- 2.51 g/t Au over 48.20 m, including 6.93 g/t Au over 12.00 m (PT-14-79)
*Core length; the true thickness is between 70 to 95% of the core length.
The mineralization is hosted in a paragneiss with very fine aersenopyrite-pyrrotite mineralization associated with strong silicification. The zone is located at the contact between the La Grande Sub-Province and Opinaca Sub-Province. The campaign will focus on testing mineralization at depth and along the strike to the north-west side of the Zone 25.
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Planned Drill Location Map
Jean-Sébastien Lavallée (OGQ #773), geologist, shareholder, Executive Chairman and Exploration Manager of Canada Strategic Metals and a Qualified Person under NI 43-101, has reviewed and approved the technical content of this release.
Located in Montreal (Québec), Matamec Explorations Inc. is a junior mining exploration company in which primary activities are oriented on the development of gold assets. Matamec’s main focus is on the SAKAMI gold property (50%), located in proximity to the Éléonore Mine (in James Bay, QC); Opinaca Gold West (100%), located in the Quebec Plan Nord region in similar geological settings as established gold-producing mines; and the Casa-Detour property (100%), located east of the Burnbush property of Detour Gold Corp.
Matamec has two other gold properties in Ontario, Matheson JV (50%) and Pelangio (100%) located near the Hoyle Pond Mine in Timmins.
Matamec’s other mining properties include key elements for technologies related to energy containing, among others, lithium (Tansim-under option), Cobalt (Fabre-100% owned), nickel (Vulcain-100% owned) and rare earths (Kipawa-72% owned by Matamec). The Kipawa Heavy Rare Earth Elements (HREE) project is a joint venture owned at 72% by Matamec and 28% by Ressources Québec (acting as agent of the Government of Québec). Toyota Tsusho Corp. of Nagoya, Japan holds a 10% royalty on net profit from the deposit.
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.
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