Matamec Announces the Discovery of Three New Showings on the Zeus Property
April 25, 2013 (Source: Marketwire) Montreal, QC — Matamec Explorations Inc. (“Matamec”) (TSX VENTURE:MAT)(OTCQX:MHREF) is pleased to announce the discovery of three new showings (Certitude Nord, Makwa and Pakwa) on the Zeus property in addition to the PS Zone which was communicated last week in a press release, April 18, 2013. Now the property contains twelve heavy rare earth showings, some of them with Niobium and Tantalum. See annexed geological figure. Annexed table shows all results higher than 0.5% TREO.
Highlights of the three new showings are as follows:
Certitude Nord showing:
- Located 2 km north of Certitude showing, has returned a grade as high as 5.36% TREO, 2.21% Y2O3, 9.42% ZrO2 and 4.191% Nb2O5 on grab samples. Manual stripping on Certitude Nord has returned intercepts of 0.24% TREO at 32% HREO/TREO, 0.06% Y2O3 and 1.26% ZrO2 on 11.1m, of 0.31% TREO at 29% HREO/TREO, 0.06%Y2O3 and 0.59% ZrO2 on 0.8m and 0.29% TREO at 46% HREO/TREO, 0.09% Y2O3 and 1.72% ZrO2 on 1.1m.
- Located 2.3 km north of Surprise Nord showing, has returned a grade as high as >15.95% TREO, 1.32% Y2O3, 0.24% Dy2O3, 3.13% Nd2O3 and 11.53% ZrO2 on grab samples.
- Located 2.5 km north of Falaise showing, has returned a grade as high as >15.53% TREO, 2.10% Y2O3, 0.25% Dy2O3, 3.0% Nd2O3, 8.59% ZrO2 and 1.53% Nb2O5 on grab samples.
“Matamec’s exploration team continues to deliver positive results with the discovery of three new showings on the Zeus property,” said Andre Gauthier, President and CEO of Matamec Explorations. “I am pleased to report to shareholders the Company is advancing on all fronts as we execute our strategy of becoming the next global heavy rare earth producer outside of China.”
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Also, fall 2012 prospecting has allowed identifying several sites for stripping. Stripping was conducted from December 3 to 14, 2012 on some of these sites. Thus, three strippings were made on the Pakwa showing and three others on Surprise Ouest showing. The Pakwa showing is composed by peralkaline granite, syenite, marble and syenitic to granitic pegmatite. Rare earth minerals have to be identified. The three strippings on the Pakwa showing were channelled. All samples have been sent to ALS-Chemex laboratory and the results will be released at a later date. Stripping from Surprise Ouest will be channelled this spring.
In addition, Tony Mariano’s team is still studying the mineralogy of all these showings. Aline Leclerc, VP Exploration (Geo.), is Matamec’s Qualified Person for this press release.
For annexed geological figure click here
Matamec Explorations Inc. is a junior mining exploration company whose main focus is in developing the Kipawa HREE deposit with TRECan. Following the positive conclusion of the PEA study filed on SEDAR in March 2012, Matamec and TRECan decided to move directly to the feasibility study currently in process and expected to be completed by the end of the second quarter 2013. The PEA study highlighted that the project has robust economics such as: $606 million before-tax value (NPV8%), a 36.9% before-tax IRR, $2.8 billion revenue, $1.67 billion EBITDA, a before-tax payback period of 2.4 years, etc. (see press release dated January 30, 2012). Resources that are not mineral reserves do not have demonstrated economic viability.
In parallel, the Company is exploring more than 35km 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 Matheson JV property located along strike and in close proximity to the Hoyle Pond Mine in the prolific mining camp of Timmins, Ontario.
In Quebec, the Company is exploring for lithium and tantalum on its Tansim property and for precious and base metals on its Sakami, Valmont and Vulcain properties. As well, it is exploring for gold together with Northern Superior Resources Inc. on the Wachigabau property.
A figure is available at the following address: http://media3.marketwire.com/docs/mata-eng.pdf
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