Matamec’s Zeus Property Drilling Results Show Significant High Grade Rare Earth Potential Outside the Kipawa Deposit
April 18, 2013 (Source: Marketwire) Montreal, QC — Matamec Explorations Inc. (“Matamec”) (TSX VENTURE:MAT) is pleased to announce that the Zeus property shows significant high grade rare earth potential outside the Kipawa deposit in Temiscaming, Quebec. Company provides 2012 drilling results.
2012 Drilling Highlights:
- Assays results for fifteen (15) drill holes from 2012 diamond drilling campaign on PS zone, a heavy rare earths-Y-Zr showing located at 2.7 km South-East of Kipawa deposit on Zeus property are disclosed in table 1
“Matamec is very pleased with the significant high grade of rare earth potential on the Zeus property,” said Andre Gauthier, President and CEO of Matamec Explorations. “As the Kipawa deposit is close to completing its feasibility study at the end of June, Matamec’s exploration team has positioned the Company for the next major phase of growth. ”
PS Zone Drilling
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Drilling campaign took place between October 10th to 22nd, 2012 and 1,420 meters were drilled. These diamond drill holes have crosscut typical Kipawa deposit syenite. Syenite has a minimal thickness of 100 meters with a low angle dip like the deposit around 25 to 30 degrees towards SSW. All drill holes show the same Kipawa deposit rare earth minerals as eudialyte, mosandrite and britholite (see press release, October 30th, 2012). These fifteen (15) drill holes have been drilled on 5 sections of 3 drill holes each and cover 250 meters along the strike of the syenitic body.
Complete results have been received on all assayed intersections. Drill holes show one to three mineralized zones similar to Kipawa deposit zones. The zones thickness can reach 17.25 meters (see Table 1).
These zones are open laterally and at depth. The deeper four (4) drill holes have crosscut zones at less than 90 meters vertically and zones are still open. Laterally to the East, the zones are aligned toward PB zone discovered by Unocal in 1990 and to the West, geochemical soil anomalies connect them to the Kipawa deposit.
For complete assay results 2012 PS zone drilling campaign click here
Matamec maintains a quality control program conforming to the industry’s best practices. The NQ core is split, with one half kept as a witness at our Val d’Or facilities. Samples are then submitted in batches of 25, each containing two known standards and one blank, to the ALS Chemex (“ALS”) preparation facility in Val d’Or where the samples are reduced to pulps and couriered to ALS in Vancouver (B.C.) for analysis. The samples are dissolved using a lithium metaborate fusion before being analysed by ICP-MS methods on a 2 gram sample size, with overlimits handled either by ICP-MS on a dilute solution, in the case of rare earths, or by XRF, in the case of zirconium. The samples and core are managed in a secure location until delivered to ALS. ALS maintains ISO 17025 certification, the highest accreditation available for QA/QC.
Aline Leclerc, VP Exploration (Geo.), is Matamec’s Qualified Person for this press release.
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 map is available by clicking here
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