Matamec Explorations inc.
TSX VENTURE : MAT

Matamec Explorations inc.

February 22, 2007 10:15 ET

Matamec Begins Drilling on Montclerg Gold Zone

MONTREAL, QUEBEC--(CCNMatthews - Feb. 22, 2007) - Matamec Explorations Inc. ("Matamec") (TSX VENTURE:MAT) is pleased to announce the beginning of its second drilling campaign on the Montclerg Zone. With the CMX Zone, the Montclerg Zone is one of the two gold zones discovered on Montclerg gold property, situated at the eastern end of the world famous Porcupine gold camp in Timmins, Ontario.

The current exploration drilling campaign (Figure 1-Drilling Program) aims to test the Montclerg zone on the West of the River area (sections 45+00mE and 46+00mE) and to confirm that the gold mineralization on the Upper Montclerg Zone and at depth is similar to the area drilled last summer (around section 49+00mE). In previous drilling on sections 45+00mE and 46+00mE, the gold zone returned values up to 13.96 g/t Au on 4.60 meters; 19.79 g/t Au on 4.57 meters and 27.43 g/t Au on 1.52 meters.

The Montclerg Zone appears to have a more or less continuous mineralized zone that extends 2,600 meters from section 40+00mE to 66+00mE (Figure 2-Longitudinal Section-Deliniated Gold Bearing Levels). In 2006, Matamec carried out its first 2,200 meter vertical diamond drilling program around the section 49+00mE, based mainly on Baynes' conclusions (1985) and designed:

- to improve the overall understanding of mineralization,

- to develop the hypothesis for an open pit in the Upper Montclerg Zone ( less than200 meters depth),

- to find other mineralized zones in depth ( less than400 meters), and

- to increase resources of 408,100 t. at 4.53 g/t Au (Note: the above resource estimates are historic and are not considered as a National Instrument 43-101 defined resources).

In last summer's drilling campaign, the mineralization near surface ( less than200 meters depth) was encountered in all nine drill holes (Figure 3-1st Drilling Program-Summer 2006). In this part of Montclerg Zone, many gold zones were intersected and the mineralization is characterized by long intercepts with lower grades as the 2006 drilling program returned values up to 1.17 g/t Au on 25.45 meters; 2.72 g/t Au on 11.35 meters and 3.37 g/t Au on 9.54 meters. In the Montclerg Zone at depth (300-400 meters depth), 2 new zones were discovered which indicate a new type of mineralization. One other important fact with this first campaign was the recognition of a horizon of altered felsic in contact with ultramafics to the South and basalts to the North. This horizon of felsic rocks was previously reported as silicified mafic rocks or quartz porphyries dykes.

These new zones at depth contain semi-massive mineralization consisting mainly of arsenopyrite with lesser quantities of pyrite and pyrrhotite, and minor quantities of chalcopyrite and sphalerite. The new semi-massive zones discovered in 2006 are different than all known types of mineralization in the Porcupine camp and may lead to the establishment of a new model for the formation of gold deposits in the Porcupine camp.

At approximately 320 meters at depth, the gold structure returned values of 11.98 g/t Au over 3 meters in DDH#2, 3.35 g/t Au over 7.2 meters in DDH#6 and 4.23 g/t Au over 6.3 meters in DDH#7. At 370 meters, DDH#7 intersected 6.05 g Au over 2.0 meters and it was the only drilling hole which could intersect that mineralized structure. These 3 new drill holes with the 2 previous drill holes (M26 and M31 respectively in sections 45+50mE et 49+00mE) are the only five drill holes that have tested this mineralized structure below 200 meters vertical.

The geologic data of this press release was prepared by Aline Leclerc, geologist and Exploration vice-president of Matamec.

About Matamec

Matamec is a mining exploration company whose strategy is exploring for significant gold and uranium deposits in Ontario and in Quebec. For gold, it has mainly targeted the East Timmins mining camp where certain properties have not been fully investigated on surface and/or at depth. In particular, it may acquire interests in the Matheson and Montclerg properties. Furthermore, it has 7 exploration projects in Quebec, and 3 of them for gold, uranium and rare metals.

Figure 1-Drilling Program is available at the following address: http://www.ccnmatthews.com/docs/fig_1_eng.pdf

Figure 2-Longitudinal Section-Deliniated Gold Bearing Levels is available at the following address: http://www.ccnmatthews.com/docs/fig_2_eng.pdf

Figure 3-1st Drilling Program-Summer 2006 is available at the following address: http://www.ccnmatthews.com/docs/fig_3_eng.pdf

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this press release.

Contact Information

  • Matamec Explorations Inc.
    Andre Gauthier
    President
    514-448-5183
    or
    Matamec Explorations Inc.
    Michael D'Amico
    Investor Relations
    647-500-6023
    info@matamec.com
    www.matamec.com