Matamec Explorations inc.
TSX VENTURE : MAT

Matamec Explorations inc.

September 23, 2010 15:01 ET

Matamec Intersects Mineralized Zones up to 16.45 Meters Thick Grading 0.954% TREO, 38% + HeavyREO+Y2O3/TREO and 1.304% ZrO2 in the Central Part of the Kipawa Deposit

MONTREAL, QUEBEC--(Marketwire - Sept. 23, 2010) - Matamec Explorations Inc. ("Matamec" or the "Company") (TSX VENTURE:MAT) is pleased to announce that it has received preliminary analytical results from the drill holes it completed this summer on rare earths-yttrium-zirconium (REE-Y-Zr) Kipawa deposit, located within the Zeus property in western Quebec. These results are considered preliminary pending re-analysis of overlimit samples, currently in progress. Although the results are not yet complete, the preliminary results are presented in Table 1 below for the twenty (20) drill holes drilled during this program, KM-62 to KM-81. These drill holes, which total more than 2,115 meters, were mostly drilled down-dip from the previously drilled holes within the central part of the Kipawa deposit. The best preliminary result is 0.954% TREO (total rare earth oxides), with 38% HeavyREO+Y2O3/TREO and >0.717% ZrO2 over 16.45 meters in hole KM-78.

Press Release Highlights

  • More than 2,115 meters of drilling, in 20 holes, were completed this summer on  the central part of the REE-Y-Zr
  • Kipawa deposit;  The Kipawa deposit is considered both open laterally and at depth;  
  • Once complete analytical results are received, a new resource calculation will be undertaken;  
  • A second drilling campaign is scheduled for Fall 2010 to improve the quality of the resources.

All drill holes contain mineralized zones, ranging from 0.284% to >1.579% TREO and/or from 0.177% to >1.304% ZrO2 over thicknesses ranging from 0.4 to 16.45 meters. Also, these intersections contain 11% to 69% of HeavyREO + Y2O3/ TREO. In the table below REO-defined zones (using a 0.1% Y2O3 cut-off) are listed in italics, ZrO2 defined zones (using a 0.5% ZrO2 cut-off) are listed in normal type.

The 20 holes drilled during the present program are identified by green squares in Figure 1. It should be noted that the green outline on the Figure 1 delineates the area in which resources were calculated by the independent firm SGS Canada Inc. - Geological Group Geostat (press release dated June 3, 2010) after the 2009 drilling campaign. The results from these 20 new drill holes will substantially increase these resources. Once the final results from the analyses are received, a new resource calculation will be undertaken.

Table 1 Preliminary Analyses Results First Drilling Campaign of 2010 on the Kipawa Deposit
Drill
Hole
From
(m)
To
(m)
Width
(m)
ZrO2
(%)
LREO
(%)
IREO
(%)
HREO
(%)
Y2O3
(%)
TREO
(%)
% HREO +Y2O3/TREO
KM62 19.6 47.0 27.4 >0.816 0.164 0.016 0.027 0.059 0.266 24
KM62 29.1 33.6 4.55 0.843 0.318 0.03 0.047 0.098 0.494 29
  51.2 62.0 10.7 >1.143 0.092 0.016 0.046 0.084 0.239 29
KM62 51.22 53.15 1.93 1.205 0.251 0.035 0.085 0.163 0.534 46
KM62 55.2 58.75 3.55 1.215 0.083 0.02 0.07 0.119 0.293 65
  70.5 73.7 3.2 >1.056 0.021 0.002 0.003 0.008 0.035 26
  76.5 100.9 24.4 >1.026 0.064 0.007 0.014 0.024 0.109 24
  103.5 107.4 3.9 >0.876 0.129 0.011 0.016 0.033 0.188 34
KM63 18.0 25.5 7.5 >0.716 0.156 0.015 0.025 0.053 0.249 22
KM63 27.95 29.60 1.65 0.31 0.543 0.081 0.137 0.327 1.088 43
  29.6 45.0 15.4 0.785 0.249 0.023 0.030 0.062 0.364 23
KM63 37 39 2 0.49 0.562 0.048 0.048 0.112 0.769 21
KM63 42 43.6 1.6 0.861 0.391 0.038 0.069 0.135 0.633 32
  48.1 53.6 5.5 >0.924 0.175 0.025 0.059 0.112 0.372 23
KM63 51.4 53.55 2.15 >1.141 0.371 0.055 0.132 0.246 0.804 47
  58.5 107.2 48.7 >1.003 0.062 0.007 0.015 0.029 0.113 53
KM63 104.45 107.2 2.75 >0.72 0.354 0.03 0.062 0.154 0.600 36
KM64 18.8 22.6 3.7 >1.050 0.052 0.005 0.009 0.019 0.084 36
  25.3 96.0 70.7 >0.748 0.220 0.035 0.063 0.130 0.447 45
KM64 26.33 28.07 1.74 0.809 0.68 0.097 0.169 0.415 1.361 43
KM64 30.3 34.45 4.15 0.737 0.54 0.046 0.058 0.117 0.761 23
KM64 38.6 40.95 2.35 0.838 0.307 0.032 0.055 0.118 0.512 34
KM64 92.6 98.65 6.05 0.383 0.565 0.062 0.106 0.25 0.983 36
KM65 16.3 40.1 23.8 >0.835 0.199 0.018 0.026 0.058 0.301 11
KM65 37.15 40.05 2.9 0.769 0.472 0.045 0.073 0.164 0.754 31
  42.8 50.5 7.6 >1.081 0.225 0.035 0.093 0.179 0.532 36
KM65 44.22 47.7 3.48 >1.017 0.401 0.061 0.167 0.319 0.948 51
  57.0 91.0 34.0 >0.950 0.079 0.008 0.018 0.037 0.143 28
KM65 78 79,5 1.5 1.351 0.233 0.029 0.058 0.135 0.455 42
KM65 85.5 88 2.5 0.729 0.317 0.026 0.048 0.105 0.495 31
KM66 25.2 61.7 36.6 >0.865 0.124 0.015 0.032 0.061 0.232 20
KM66 39.2 41.3 2.1 >1.275 0.415 0.069 0.199 0.364 1.046 54
  67.5 91.5 24.0 >0.931 0.108 0.010 0.017 0.034 0.169 69
KM67 20.7 55.0 34.4 >0.898 0.136 0.014 0.020 0.042 0.212 11
KM67 33.05 39 5.95 0.899 0.303 0.032 0.049 0.10 0.484 31
  58.5 87.0 28.5 >0.874 0.095 0.011 0.023 0.043 0.172 23
KM68 48.0 58.0 10.0 >0.924 0.096 0.009 0.015 0.027 0.147 57
  81.0 95.4 14.4 >1.024 0.055 0.006 0.012 0.019 0.093 26
KM68 96 96.4 0.4 0.382 0.421 0.035 0.051 0.101 0.608 25
KM69 28.1 31.5 3.4 0.594 0.064 0.005 0.009 0.018 0.096 22
KM69 44.1 48.5 4.4 0.7 0.388 0.039 0.062 0.131 0.620 31
  44.1 65.4 21.3 >0.814 0.139 0.014 0.023 0.047 0.223 15
  83.0 93.3 10.3 >1.304 0.058 0.006 0.013 0.020 0.097 35
KM69 94.15 95.7 1.55 0.177 0.49 0.051 0.07 0.165 0.775 30
KM70 47.5 52.9 5.5 1.067 0.272 0.023 0.036 0.067 0.397 17
KM70 58.95 62.85 3.9 >1.264 0.16 0.028 0.074 0.136 0.398 53
  59.0 70.5 11.6 >1.159 0.027 0.003 0.008 0.013 0.051 37
  74.4 81.2 6.8 >0.880 0.029 0.003 0.006 0.012 0.049 37
  84.0 89.0 5.0 0.610 0.123 0.010 0.013 0.029 0.176 27
  94.7 105.0 10.3 >0.856 0.089 0.008 0.014 0.025 0.135 66
KM71 28.5 37.3 8.8 >0.815 0.139 0.011 0.013 0.024 0.187 16
  43.5 48.2 4.7 0.528 0.118 0.012 0.020 0.046 0.197 34
  59.5 69.0 9.6 >1.048 0.045 0.007 0.018 0.035 0.105 37
  72.0 98.1 26.1 >0.918 0.039 0.004 0.008 0.014 0.065 40
  101.4 111.9 10.6 >0.880 0.096 0.011 0.024 0.052 0.183 30
KM71 107.3 108 0.7 1.351 0.263 0.043 0.124 0.289 0.719 57
KM72 32.1 41.9 9.8 0.724 0.219 0.020 0.027 0.060 0.325 18
KM72 47.51 48.4 0.89 1.092 0.228 0.033 0.086 0.143 0.491 47
  51.3 66.4 15.1 >0.963 0.060 0.007 0.016 0.031 0.114 24
  75.0 81.0 6.0 0.935 0.078 0.005 0.006 0.012 0.101 19
  96.0 109.8 13.8 >1.043 0.092 0.009 0.017 0.032 0.149 24
KM73 33.8 59.5 25.7 >0.795 0.165 0.016 0.024 0.047 0.252 13
KM73 35.45 37.75 2.3 0.447 0.629 0.055 0.068 0.135 0.887 23
  74.6 84.0 9.4 >0.932 0.052 0.004 0.006 0.011 0.072 27
  94.5 104.5 10.0 >0.853 0.076 0.008 0.014 0.029 0.127 65
  108.6 112.0 3.4 0.669 0.175 0.017 0.024 0.047 0.263 26
KM74 20.4 54.1 33.7 >0.875 0.321 0.028 0.039 0.081 0.470 17
KM74 30.35 36.5 6.15 0.638 0.347 0.035 0.057 0.139 0.578 34
KM74 51 54.05 3.05 0.764 >1.175 0.096 0.11 0.198 >1.579 <20
  57.0 83.6 26.6 >1.093 0.093 0.009 0.017 0.033 0.152 38
KM75 29.4 38.2 8.8 >0.873 0.173 0.018 0.024 0.045 0.259 30
  44.1 86.4 42.3 >0.873 0.101 0.011 0.022 0.042 0.176 19
KM75 49.5 51.35 1.85 0.446 0.374 0.034 0.056 0.121 0.586 30
KM75 54.55 57.65 3.1 >1.261 0.155 0.025 0.069 0.126 0.375 52
  89.7 100.1 10.4 >1.101 0.095 0.009 0.017 0.030 0.150 26
KM76 58.0 67.7 9.7 0.656 0.170 0.016 0.023 0.042 0.251 25
  70.5 88.8 18.3 >0.914 0.051 0.006 0.013 0.022 0.093 24
  96.0 105.8 9.8 >1.008 0.136 0.013 0.022 0.039 0.210 49
KM77 36.4 45.8 9.4 0.897 0.155 0.015 0.024 0.042 0.236 25
  78.0 95.2 17.2 >0.920 0.054 0.006 0.015 0.028 0.104 24
KM77 85 86.35 1.35 0.841 0.093 0.021 0.058 0.112 0.284 60
KM78 19.3 34.1 14.9 0.754 0.382 0.047 0.075 0.177 0.681 25
KM78 23.95 40.4 16.45 >0.717 0.525 0.064 0.11 0.255 0.954 38
  38.0 51.7 13.7 >0.850 0.334 0.037 0.073 0.156 0.600 15
  54.6 77.2 22.7 >1.049 0.069 0.008 0.019 0.031 0.127 25
KM79 25.4 28.5 3.1 0.839 0.054 0.004 0.007 0.016 0.081 30
  34.4 63.0 28.7 >1.012 0.189 0.021 0.043 0.086 0.338 18
KM79 45.6 53.3 7.7 >1.121 0.316 0.042 0.098 0.197 0.653 45
  75.0 81.0 6.0 >0.930 0.052 0.005 0.009 0.015 0.081 18
  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 >0.959 0.014 0.002 0.003 0.007 0.027 55
KM81 15.7 97.4 81.7 >0.913 0.123 0.014 0.028 0.055 0.220 18
KM81 25.25 29.35 4.1 >1.162 0.391 0.051 0.095 0.185 0.722 39
KM81 47.85 49.75 1.9 0.962 0.45 0.047 0.086 0.168 0.750 34
KM81 62.05 64.7 2.65 >0.754 0.734 0.082 >0.180 0.35 >1.346 >39
  99.85 103.2 3.3 >1.074 0.378 0.034 0.052 0.113 0.577 38
KM81 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.
">" This symbol shown in the above table means that the results are over limit. We are currently awaiting these new analyses.

Matamec maintains a quality control program conforming to industry best practices in the sampling and analysis of drill core. The NQ core is split, with one half kept for reference at our Val d'Or facilities. Samples were then submitted in batches containing known standards and blanks 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 were analysed using a lithium borate fusion followed by ICP-MS methods on a 2 gram sample size while the overlimits were handled either by another round of ICP-MS on a diluted solution, for REE overlimits, or by wavelength dispersive XRF on fused beads for Zr overlimits. The samples and core are stored in a secure location until delivered to ALS.

André Gauthier, President of Matamec, said that "the latest exploration program provides an exploration model which suggests that there is the potential for zones of REE-Y-Zr mineralization close to the surface in other areas of the Zeus property. Be that as it may, the Kipawa deposit, with its open-pit REE-Y-Zr potential, remains our priority in the near-future exploration campaigns". 

This is the fifth 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. As well as the TH showing (see September 20th press release), the 2010 campaign included the Surprise showing (see August 19th, August 26th and September 2nd, 2010 press releases), the Falaises showing and the PB area, and ended with a 2115m drilling campaign on the Kipawa deposit. 

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.

Matamec Explorations Inc. at the Toronto Resource Investment Conference: Booth #1010

Matamec is pleased to be hosting a booth (#1010) at the Toronto Resource Investment Conference on Saturday, September 25th and Sunday September 26th from 10:00 am to 5:00 pm at the Metro Toronto Convention Center, North Building. Members of Matamec's Zeus property team, most notably Anthony Mariano, will be present at the booth to answer your questions.

About Matamec

Matamec explores for significant gold deposits in the Timmins mining camp in Ontario of which the Matheson JV property with Goldcorp Canada Ltd. and Goldcorp Inc. is the main target. In Quebec. the Company explores for precious and base metals on its Sakami, Valmont and Vulcain properties. As well, Matamec is exploring for gold together with Northern Superior Resources Inc. on its Lepérance/Wachigabau property.

Concurrently with the above mentioned exploration programs, Matamec's Quebec Tansim property is also being explored for rare metals such as lithium, tantalum and niobium.

A map is available at the following address: http://media3.marketwire.com/docs/Figure1eng.pdf

"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."

Contact Information