Welcome!

News Feed Item

Matamec intersects 1.7 g/t Au over 30 m, including 4.26g/t over 4.5m, extending the strike length of Zone 25 to 700 m on the Sakami Property

MONTREAL, QUEBEC -- (Marketwired) -- 06/19/17 --

Highlights of the 2,925 m spring drill campaign on Zone 25 extension:

--  1.70 g/t Au over 30m, including 4.26 g/t Au over 4.5m 
--  1.96 g/t Au over 28.7m, including 4.11 g/t Au over 7.9m 
--  3.82 g/t Au over 3.0m 
--  Hole PT-17-105 halted in mineralization with 0.73 g/t Au over 6m 

Matamec Explorations Inc. ("Matamec" or the "Company") (TSX VENTURE:MAT)(OTCQB:MHREF) and Canada Strategic Metals ("CSM") (TSX VENTURE:CJC)(FRANKFURT:YXEN)(OTCBB:CJCFF) are pleased to announce the complete results from the 2017 spring drilling campaign on the Sakami property, of which the two companies each own 50%. A total of 2,925 m of drilling was completed in 7 drill holes (PT-17-100 to PT-17-106) along the shore of Sakami Lake to extend the known mineralized body to the west and at depth. This drilling successfully extended the strike length of the zone to 700m, and appears to support the theory of higher grade subdomains with rakes trending west-south-west (see figure 1). The broken core in drill hole PT-17-104A and the disjointed nature of PT-17-105 highlight the increasing geological complexity to the west. PT-17-105 was halted in mineralization, having reached drill rig depth capacity at a vertical depth of 450m. Further investigation will be required to understand its relation with Zone 25 and define its full width.

The highlights of this lot of results are from PT-17-102 with 1.7g/t over 30m including 4.26g/t over 4.5m and PT-17-106 with 1.17g/t over 10.5m. Drill hole PT-17-104 was recollared (PT-17-104A) and did not reach the target depth due to poor rock quality; possibly related to a fault zone (white dot on figure 1). However it did intersect 3.82g/t over 3m at a shallower level and in a similar geological context as Zone 25. Drill holes PT-17-103 and PT-17-105 did not intersect any significant Au mineralization at the expected intervals in the drilling, which highlights the potential geological complexity at the western extent (grey dots on figure 1). Further interpretation and geochemistry on the nature of a new diorite intrusion in the sequence should give a better understanding of the geological model as it will confirm the rock composition as a diorite or a highly altered paragneiss. This potential diorite could add to a growing list of similarities with the Goldcorp's Eleonore Deposit. Mineralized intervals for PT-17-100 and PT-17-101 have previously been announced. The best intersections for the entire 2017 drill campaign are displayed in the table below.

                ------------------------------------------------------------
                   Hole Name        From          To   Length(i)          Au
----------------------------------------------------------------------------
Previously                                                                  
 Reported       PT-17-100(i)      295,50      307,50       12,00        1,02
                ------------------------------------------------------------
                   Including      304,50      307,50        3,00        2,07
                ------------------------------------------------------------
                   PT-17-101      311,60      340,30       28,70        1,96
                ------------------------------------------------------------
                   Including      313,10      321,00        7,90        4,11
----------------------------------------------------------------------------
New Results        PT-17-102       328.5       358.5          30         1.7
                ------------------------------------------------------------
                   Including         354       358.5         4.5        4.26
                ------------------------------------------------------------
                   PT-17-102       367.5       376.5           9        1.32
                ------------------------------------------------------------
                  PT-17-104A         240         243           3        3.82
                ------------------------------------------------------------
                   PT-17-105       586.5       592.5           6        0.73
                ------------------------------------------------------------
                   PT-17-106       196.5         207        10.5        1.17
----------------------------------------------------------------------------

(i)Core length; the true thickness is between 70 to 95% of the core length.

Figure 1 : Oblique view perpendicular to Zone 25 showing spring 2017 drill campaign results. Diameter of spheres are equal to the length of intervals and the colour is related to grade. Ellipses illustrate the apparent "higher grade rakes" that show a notable gap in results in between. Only 2017 drilling is annotated, see text for commentary.

http://media3.marketwire.com/docs/1097505E_1.jpg

CSM recently exercised an option to acquire another 20% of the Sakami property from Matamec in exchange for 1 million shares in the company and a commitment to spend 2M$ per year on exploration over 5 years and complete an independent bankable feasibility study. Please see the press release from February 14th, 2017 for more details of the option agreement and the ownership structure of the property. During the period covered by the option agreement, CSM will remain the operator of the exploration work, supervised by a management committee comprising two representatives of CSM and two representatives of Matamec.

Guy Desharnais, P.Geo., Ph.D. (OGQ No.1141), is a Qualified Person as per NI 43-101; he is employed by SGS Canada Inc., is independent of Matamec, and has reviewed and approved the technical content of this press release.

"These results appear to support our belief that there is significant gold potential at Sakami," said Andre Gauthier, President and CEO of Matamec. "The extension of Zone 25 to the west is encouraging, and we look forward to further investigation of this area of mineralization."

About Matamec

Located in Montreal (Quebec), Matamec Explorations Inc. is a junior mining exploration company in which activities are based on two main axes of development: gold, and key elements for technologies related to energy with properties containing, among others, lithium (Tansim-owned at 100%), Cobalt (Fabre-100% owned), nickel (Vulcain-100% owned) and rare earths (Kipawa-72% owned by Matamec).

Matamec's main focus is the development of the Kipawa Heavy Rare Earth Elements (HREE) deposit, a joint venture owned at 72% by Matamec and 28% by Ressources Quebec (acting as agent of the Government of Quebec); Toyota Tsusho Corp. (Nagoya, Japan) holds a 10% royalty on net profit in the deposit.

In addition to the activities in energy sector, Matamec is exploring for gold, with two properties (Matheson JV (50%) and Pelangio (100%)) located in the area of the Hoyle Pond Mine in Timmins, ON, as well as three in the Quebec Plan Nord region in similar geological settings as established gold-producing mines. These include two in proximity to the Eleonore Mine (in James Bay, QC): Sakami (50%) and Opinaca Gold West (100%).

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.

Visit us on Facebook: https://www.facebook.com/MatamecInc

Contacts:
Andre Gauthier, President
(514) 844-5252
[email protected]

CHF Capital Markets
Cathy Hume, CEO
+1 416-868-1079 x231
[email protected]

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
SYS-CON Events announced today that Synametrics Technologies will exhibit at SYS-CON's 22nd International Cloud Expo®, which will take place on June 5-7, 2018, at the Javits Center in New York, NY. Synametrics Technologies is a privately held company based in Plainsboro, New Jersey that has been providing solutions for the developer community since 1997. Based on the success of its initial product offerings such as WinSQL, Xeams, SynaMan and Syncrify, Synametrics continues to create and hone inn...
Cloud Expo | DXWorld Expo have announced the conference tracks for Cloud Expo 2018. Cloud Expo will be held June 5-7, 2018, at the Javits Center in New York City, and November 6-8, 2018, at the Santa Clara Convention Center, Santa Clara, CA. Digital Transformation (DX) is a major focus with the introduction of DX Expo within the program. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive ov...
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, whic...
To get the most out of their data, successful companies are not focusing on queries and data lakes, they are actively integrating analytics into their operations with a data-first application development approach. Real-time adjustments to improve revenues, reduce costs, or mitigate risk rely on applications that minimize latency on a variety of data sources. In his session at @BigDataExpo, Jack Norris, Senior Vice President, Data and Applications at MapR Technologies, reviewed best practices to ...
Continuous Delivery makes it possible to exploit findings of cognitive psychology and neuroscience to increase the productivity and happiness of our teams. In his session at 22nd Cloud Expo | DXWorld Expo, Daniel Jones, CTO of EngineerBetter, will answer: How can we improve willpower and decrease technical debt? Is the present bias real? How can we turn it to our advantage? Can you increase a team’s effective IQ? How do DevOps & Product Teams increase empathy, and what impact does empath...
DevOps promotes continuous improvement through a culture of collaboration. But in real terms, how do you: Integrate activities across diverse teams and services? Make objective decisions with system-wide visibility? Use feedback loops to enable learning and improvement? With technology insights and real-world examples, in his general session at @DevOpsSummit, at 21st Cloud Expo, Andi Mann, Chief Technology Advocate at Splunk, explored how leading organizations use data-driven DevOps to close th...
As many know, the first generation of Cloud Management Platform (CMP) solutions were designed for managing virtual infrastructure (IaaS) and traditional applications. But that's no longer enough to satisfy evolving and complex business requirements. In his session at 21st Cloud Expo, Scott Davis, Embotics CTO, explored how next-generation CMPs ensure organizations can manage cloud-native and microservice-based application architectures, while also facilitating agile DevOps methodology. He expla...
Smart cities have the potential to change our lives at so many levels for citizens: less pollution, reduced parking obstacles, better health, education and more energy savings. Real-time data streaming and the Internet of Things (IoT) possess the power to turn this vision into a reality. However, most organizations today are building their data infrastructure to focus solely on addressing immediate business needs vs. a platform capable of quickly adapting emerging technologies to address future ...
Most technology leaders, contemporary and from the hardware era, are reshaping their businesses to do software. They hope to capture value from emerging technologies such as IoT, SDN, and AI. Ultimately, irrespective of the vertical, it is about deriving value from independent software applications participating in an ecosystem as one comprehensive solution. In his session at @ThingsExpo, Kausik Sridhar, founder and CTO of Pulzze Systems, discussed how given the magnitude of today's application ...
With tough new regulations coming to Europe on data privacy in May 2018, Calligo will explain why in reality the effect is global and transforms how you consider critical data. EU GDPR fundamentally rewrites the rules for cloud, Big Data and IoT. In his session at 21st Cloud Expo, Adam Ryan, Vice President and General Manager EMEA at Calligo, examined the regulations and provided insight on how it affects technology, challenges the established rules and will usher in new levels of diligence arou...
There is a huge demand for responsive, real-time mobile and web experiences, but current architectural patterns do not easily accommodate applications that respond to events in real time. Common solutions using message queues or HTTP long-polling quickly lead to resiliency, scalability and development velocity challenges. In his session at 21st Cloud Expo, Ryland Degnan, a Senior Software Engineer on the Netflix Edge Platform team, will discuss how by leveraging a reactive stream-based protocol,...
Mobile device usage has increased exponentially during the past several years, as consumers rely on handhelds for everything from news and weather to banking and purchases. What can we expect in the next few years? The way in which we interact with our devices will fundamentally change, as businesses leverage Artificial Intelligence. We already see this taking shape as businesses leverage AI for cost savings and customer responsiveness. This trend will continue, as AI is used for more sophistica...
In his session at 21st Cloud Expo, Raju Shreewastava, founder of Big Data Trunk, provided a fun and simple way to introduce Machine Leaning to anyone and everyone. He solved a machine learning problem and demonstrated an easy way to be able to do machine learning without even coding. Raju Shreewastava is the founder of Big Data Trunk (www.BigDataTrunk.com), a Big Data Training and consulting firm with offices in the United States. He previously led the data warehouse/business intelligence and B...
In his general session at 21st Cloud Expo, Greg Dumas, Calligo’s Vice President and G.M. of US operations, discussed the new Global Data Protection Regulation and how Calligo can help business stay compliant in digitally globalized world. Greg Dumas is Calligo's Vice President and G.M. of US operations. Calligo is an established service provider that provides an innovative platform for trusted cloud solutions. Calligo’s customers are typically most concerned about GDPR compliance, application p...
Digital transformation is about embracing digital technologies into a company's culture to better connect with its customers, automate processes, create better tools, enter new markets, etc. Such a transformation requires continuous orchestration across teams and an environment based on open collaboration and daily experiments. In his session at 21st Cloud Expo, Alex Casalboni, Technical (Cloud) Evangelist at Cloud Academy, explored and discussed the most urgent unsolved challenges to achieve f...