Matamec Explorations inc.
TSX VENTURE : MAT

Matamec Explorations inc.

November 11, 2010 11:18 ET

Matamec Explorations Inc.: Final Results Received on Summer Drilling Program at HREE Kipawa Deposit, SGS-Geostat to Update Resources This Fall

MONTREAL, QUEBEC--(Marketwire - Nov. 11, 2010) - Matamec Explorations Inc. ("Matamec" or the "Company")(TSX VENTURE:MAT) is pleased to announce that it has received all analytical results from its summer drilling campaign on the rare earths-yttrium-zirconium (REE-Y-Zr) Kipawa deposit, located within the Zeus property in western Quebec (see our September 23rd press release). All enriched TREO zones and all zirconium-TREO zones are presented in Table 1 and 2 below. All drill holes contain mineralized zone(s) of either TREO and/or zirconium.

Press Release Highlights

• 20 holes totalling more than 2,115 meters were completed this summer on  the central and eastern part of the REE-Y-Zr Kipawa deposit;  

• The Kipawa deposit is considered both open laterally and at depth;  

• An update resource calculation is presently in progress at SGS-Geostat;  

• A second drilling campaign is scheduled for Fall 2010 to improve the quality of the resources and test the lateral extensions of the Kipawa deposit;  

• In September, Matamec's team prospected the lateral extensions of the deposit and other sectors of the Zeus property.

The Summer 2010 campaign consisted of 20 holes numbered KM-62 to KM-81 (green squares on Figure 1), totalling 2,115 meters. Note that on Figure 1, the blue outline delineates resources calculated by the independent firm SGS Canada Inc. - Geological Group Geostat after the 2009 drilling campaign (press release dated June 3, 2010). Now that all overlimit re-analysis have been received (Table 1 and 2), a new resource calculation is underway through the offices of that same firm.

André Gauthier, President of Matamec, emphasizes that "results from these 20 new drill holes is likely to increase resources".

This is the seventh set of results released from Matamec's 2010 exploration campaign on its rare earths-yttrium-zirconium Zeus property, which covers much of the Kipawa Alkalic Complex. In addition to the drilling campaign described here, the 2010 campaign also included exploration around the TH showing (see September 20th press release), the Surprise showing (see August 19th, August 26th and September 2nd, 2010 press releases), the Falaises showing (see October 5th) and the PB area.

During the September exploration campaign that followed the drilling program, Matamec also prospected the North-West and South-East extensions of the deposit (via manual trenching, limited channel sampling and B-Horizon soil sampling) and visited prospective locations on the property at large. A second drilling campaign is scheduled for Fall 2010 to improve the quality of the resources and test the lateral extensions of the Kipawa deposit;

Table 1: Enriched TREO-Zr Zones

Table 1 shows TREO-enriched zones for all drill holes, as defined by a 0.1% Y2O3 cut-off. Mineralized zones range from 0.293 to 1.608% TREO and from 0.382 to 2.26% ZrO2 over thicknesses ranging from 0.4 to 16.5 meters. These intersections contain from 19% to 65% HeavyREO + Y2O3/ TREO.

Table 1
TREO Final Analyses Results
Summer Drilling Campaign of 2010 on the Kipawa Deposit
Drill Hole From
(m)
To
(m)
Width
(m)
ZrO2
(%)
*LREO
(%)
**MREO
(%)
***HREO
(%)
Y2O3
(%)
****TREO
(%)
% HREO
+Y
2O3/
TREO
KM62  
Includ. 29.1 33.6 4.55 0.843 0.318 0.03 0.047 0.098 0.494 29
Includ. 51.22 53.15 1.93 1.205 0.251 0.035 0.085 0.163 0.534 46
Includ. 55.2 58.75 3.55 1.215 0.083 0.02 0.07 0.119 0.293 65
KM63  
Includ. 37 39 2 0.49 0.562 0.048 0.048 0.112 0.769 21
Includ. 42 43.6 1.6 0.861 0.391 0.038 0.069 0.135 0.633 32
Includ. 51.4 53.55 2.15 1.262 0.371 0.055 0.132 0.246 0.804 47
Includ. 104.45 107.2 2.75 0.736 0.354 0.03 0.062 0.154 0.6 36
KM64  
Includ. 26.33 28.07 1.74 0.809 0.68 0.097 0.169 0.415 1.361 43
Includ. 30.3 34.45 4.15 0.737 0.54 0.046 0.058 0.117 0.761 23
Includ. 38.6 40.95 2.35 0.838 0.307 0.032 0.055 0.118 0.512 34
Includ. 92.6 98.65 6.05 0.383 0.565 0.062 0.106 0.25 0.983 36
KM65  
Includ. 37.15 40.05 2.9 0.769 0.472 0.045 0.073 0.164 0.754 31
Includ. 44.22 47.7 3.48 1.084 0.401 0.061 0.167 0.319 0.948 51
Includ. 78 79,5 1.5 1.351 0.233 0.029 0.058 0.135 0.455 42
Includ. 85.5 88 2.5 0.729 0.317 0.026 0.048 0.105 0.495 31
KM66 39.2 41.3 2.1 1.324 0.415 0.069 0.199 0.364 1.046 54
KM67 33.05 39 5.95 0.899 0.303 0.032 0.049 0.10 0.484 31
KM68 96 96.4 0.4 0.382 0.421 0.035 0.051 0.101 0.608 25
KM69                    
Includ. 44.1 48.5 4.4 0.7 0.388 0.039 0.062 0.131 0.62 31
Includ. 94.15 95.7 1.55 0.177 0.49 0.051 0.07 0.165 0.775 30
KM70 58.95 62.85 3.9 1.751 0.16 0.028 0.074 0.136 0.398 53
KM71 107.3 108 0.7 1.351 0.263 0.043 0.124 0.289 0.719 57
KM72 47.51 48.4 0.89 1.092 0.228 0.033 0.086 0.143 0.491 47
KM73 35.45 37.75 2.3 0.447 0.629 0.055 0.068 0.135 0.887 23
KM74  
Includ. 30.35 36.5 6.15 0.638 0.347 0.035 0.057 0.139 0.578 34
Includ. 51 54.05 3.05 0.764 1.204 0.096 0.110 0.198 1.608 19
KM75  
Includ. 49.5 51.35 1.85 0.446 0.374 0.034 0.056 0.121 0.586 30
Includ. 54.55 57.65 3.1 2.26 0.155 0.025 0.069 0.126 0.375 52
KM77 85 86.35 1.35 0.841 0.093 0.021 0.058 0.112 0.284 60
KM78 23.95 40.4 16.45 0.817 0.525 0.064 0.11 0.255 0.954 38
KM79 45.6 53.3 7.7 1.259 0.316 0.042 0.098 0.197 0.653 45
KM81  
Includ. 25.25 29.35 4.1 1.264 0.391 0.051 0.095 0.185 0.722 39
Includ. 47.85 49.75 1.9 0.962 0.45 0.047 0.086 0.168 0.75 34
Includ. 62.05 64.7 2.65 0.879 0.739 0.083 0.194 0.350 1.366 40
Includ. 102 104.9 2.9 0.574 0.469 0.039 0.063 0.15 0.721 30
 
* LREO: Light rare earths in oxides = La2O3 to Nd2O3.
**MREO: Medium rare earths in oxides = Sm2O3 to Gd2O3.
***HREO: Heavy rare earths in oxides = Tb2O3 to Lu2O3.
****TREO: Total Rare Earth Oxides = LREO + MREO + HREO + Y2O3.
Sub-divisions used by Roskill Information Services Ltd. and Industrial Minerals Company of Australia Pty Ltd.

Table 2: Zirconium-TREO Zone

Table 2 shows all the results of the drills holes for the Zirconim-TREO zone of the deposit. In this second table ZrO2 defined zone using a 0.5% ZrO2 cut-off, all drill holes contain Zirconium-TREO mineralized zones, ranging from 0.528 to 1.682% ZrO2 and from 0.027 to 0.681% TREO over thicknesses ranging from 2.6 to 81.7 meters. These intersections contain from 11 to 69% HeavyREO + Y2O3/ TREO.

Please note that these zones are not exclusive of those listed in table 1: the TREO-enriched zones of that table are almost always included within the thicker zirconium zones described here. The two should not be added together.

Table 2
Zirconium Final Analyses Results
Summer Drilling Campaign of 2010 on the Kipawa Deposit
Drill Hole From
(m)
To
(m)
Width
(m)
ZrO2
(%)
*LREO
(%)
**MREO
(%)
***HREO
(%)
Y2O3
(%)
****TREO
(%)
% HREO
+Y
2O3/
TREO
KM62  
Includ. 19.6 47.0 27.4 0.829 0.164 0.016 0.027 0.059 0.266 24
Includ. 51.2 62.0 10.7 1.247 0.092 0.016 0.046 0.084 0.239 29
Includ. 70.5 73.7 3.2 1.174 0.021 0.002 0.003 0.008 0.035 26
Includ. 76.5 100.9 24.4 1.103 0.064 0.007 0.014 0.024 0.109 24
Includ. 103.5 107.4 3.9 1.058 0.129 0.011 0.016 0.033 0.188 34
KM63  
Includ. 18.0 25.5 7.5 0.728 0.156 0.015 0.025 0.053 0.249 22
Includ. 29.6 45.0 15.4 0.785 0.249 0.023 0.030 0.062 0.364 23
Includ. 48.1 53.6 5.5 1.024 0.175 0.025 0.059 0.112 0.372 23
Includ. 58.5 107.2 48.7 1.245 0.062 0.007 0.015 0.029 0.113 53
KM64                    
Includ. 18.8 22.6 3.7 1.106 0.052 0.005 0.009 0.019 0.084 36
Includ. 25.3 96.0 70.7 0.802 0.220 0.035 0.063 0.130 0.447 45
KM65  
Includ. 16.3 40.1 23.8 0.850 0.199 0.018 0.026 0.058 0.301 11
Includ. 42.8 50.5 7.6 1.334 0.225 0.035 0.093 0.179 0.532 36
Includ. 57.0 91.0 34.0 1.146 0.079 0.008 0.018 0.037 0.143 28
KM66  
Includ. 25.2 61.7 36.6 1.055 0.124 0.015 0.032 0.061 0.232 20
Includ. 67.5 91.5 24.0 1.002 0.108 0.010 0.017 0.034 0.169 69
KM67  
Includ. 20.7 55.0 34.4 1.013 0.136 0.014 0.020 0.042 0.212 11
Includ. 58.5 87.0 28.5 1.026 0.095 0.011 0.023 0.043 0.172 23
KM68 Includ. Includ.  
48.0 58.0 10.0 1.061 0.096 0.009 0.015 0,027 0.147 57
81.0 95.4 14.4 1.314 0.055 0.006 0.012 0.019 0.093 26
KM69  
Includ. 28.1 31.5 3.4 0.594 0.064 0.005 0.009 0.018 0.096 22
Includ. 44.1 65.4 21.3 0.956 0.139 0.014 0.023 0.047 0.223 15
Includ. 83.0 93.3 10.3 1.577 0.058 0.006 0.013 0.020 0.097 35
KM70  
Includ. 47.5 52.9 5.5 1.067 0.272 0.023 0.036 0.067 0.397 17
Includ. 59.0 70.5 11.6 1.682 0,027 0.003 0.008 0.013 0.051 37
Includ. 74.4 81.2 6.8 1.117 0.029 0.003 0.006 0.012 0.049 37
Includ. 84.0 89.0 5.0 0.610 0.123 0.010 0.013 0.029 0.176 27
Includ. 94.7 105.0 10.3 1.040 0.089 0.008 0.014 0.025 0.135 66
KM71  
Includ. 28.5 37.3 8.8 0.946 0.139 0.011 0.013 0.024 0.187 16
Includ. 43.5 48.2 4.7 0.528 0.118 0.012 0.020 0.046 0.197 34
Includ. 59.5 69.0 9.6 1.592 0.045 0.007 0.018 0.035 0.105 37
Includ. 72.0 98.1 26.1 1.145 0.039 0.004 0.008 0.014 0.065 40
Includ. 101.4 111.9 10.6 0.998 0.096 0.011 0.024 0.052 0.183 30
KM72  
Includ. 32.1 41.9 9.8 0.724 0.219 0.020 0,027 0.060 0.325 18
Includ. 51.3 66.4 15.1 1.135 0.060 0.007 0.016 0.031 0.114 24
Includ. 75.0 81.0 6.0 0.935 0.078 0.005 0.006 0.012 0.101 19
Includ. 96.0 109.8 13.8 1.101 0.092 0.009 0.017 0.032 0.149 24
KM73  
Includ. 33.8 59.5 25.7 0.812 0.165 0.016 0.024 0.047 0.252 13
Includ. 74.6 84.0 9.4 1.097 0.052 0.004 0.006 0.011 0.072 27
Includ. 94.5 104.5 10.0 0.952 0.076 0.008 0.014 0.029 0.127 65
Includ. 108.6 112.0 3.4 0.669 0.175 0.017 0.024 0.047 0.263 26
KM74                    
Includ. 20.4 54.1 33.7 1.059 0.321 0.028 0.039 0.081 0.470 17
Includ. 57.0 83.6 26.6 1.287 0.093 0.009 0.017 0.033 0.152 38
KM75  
Includ. 29.4 38.2 8.8 0.947 0.173 0.018 0.024 0.045 0.259 30
Includ. 44.1 86.4 42.3 1.085 0.101 0.011 0.022 0.042 0.176 19
Includ. 89.7 100.1 10.4 1.212 0.095 0.009 0.017 0.030 0.150 26
KM76  
Includ. 58.0 67.7 9.7 0.656 0.170 0.016 0.023 0.042 0.251 25
Includ. 70.5 88.8 18.3 1.016 0.051 0.006 0.013 0.022 0.093 24
Includ. 96.0 105.8 9.8 1.116 0.136 0.013 0.022 0.039 0.210 49
KM77  
Includ. 36.4 45.8 9.4 0.897 0.155 0.015 0.024 0.042 0.236 25
Includ. 78.0 95.2 17.2 1.123 0.054 0.006 0.015 0.028 0.104 24
KM78  
Includ. 19.3 34.1 14.9 0.754 0.382 0.047 0.075 0.177 0.681 25
Includ. 38.0 51.7 13.7 1.026 0.334 0.037 0.073 0.156 0.600 15
Includ. 54.6 77.2 22.7 1.064 0.069 0.008 0.019 0.031 0.127 25
KM79  
Includ. 25.4 28.5 3.1 0.839 0.054 0.004 0.007 0.016 0.081 30
Includ. 34.4 63.0 28.7 1.182 0.189 0.021 0.043 0.086 0.338 18
Includ. 75.0 81.0 6.0 0.988 0.052 0.005 0.009 0.015 0.081 18
Includ. 84.1 86.7 2.6 0.640 0.137 0.012 0.016 0.029 0.195 20
KM80 93.7 104.8 11.2 1.104 0.014 0.002 0.003 0.007 0,027 55
KM81  
Includ. 15.7 97.4 81.7 1.052 0.123 0.014 0.028 0.055 0.220 18
Includ. 99.85 103.2 3.3 1.295 0.378 0.034 0.052 0.113 0.577 38
 
* LREO: Light rare earths in oxides = La2O3 to Nd2O3.
**MREO: Medium rare earths in oxides = Sm2O3 to Gd2O3.
***HREO: Heavy rare earths in oxides = Tb2O3 to Lu2O3.
****TREO: Total Rare Earth Oxides = LREO + MREO + HREO + Y2O3.
Sub-divisions used by Roskill Information Services Ltd. and Industrial Minerals Company of Australia Pty Ltd.

Alex Knox, geologist (M.Sc, P. Geol), and Aline Leclerc, geologist (OGQ) and Vice-President Exploration of Matamec, are qualified persons for the Zeus Project. As qualified persons, they have supervised the preparation of the scientific and technical information for the Zeus property and verified the data in this press release.

About Matamec

Other than its focus on the development of the Kipawa deposit and exploration for other showings of rare earths-yttrium-zirconium-niobium-tantalum on its Zeus property, Matamec's exploration strategy is to discover gold deposits, base metals and platinum group, as well as rare metals.

For gold, the company explores in the prolific mining camp of Timmins, Ontario, of which the main target is the Matheson JV with Goldcorp Canada Ltd. and Goldcorp Inc.

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 Lespérance/Wachigabau property.

"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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