Metco Resources inc.

Metco Resources inc.

March 07, 2005 14:27 ET

Metco Resources Inc.: Matagami-Zinc Tuffite Intersected a 3rd and 4th Time


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: METCO RESOURCES INC.

TSX VENTURE SYMBOL: MKO

MARCH 7, 2005 - 14:27 ET

Metco Resources Inc.: Matagami-Zinc Tuffite
Intersected a 3rd and 4th Time

MONTREAL, QUEBEC--(CCNMatthews - March 7, 2005) - Metco Resources Inc.
(TSX VENTURE:MKO)(Metco) is pleased to announce the results of the first
drill holes 2005 in Matagami. The first three holes are located in the
eastern block of the Du Dome-Matagami Property where a zinc tuffite was
intersected twice by diamond drilling in 2004; they have intersected the
tuffite at two other locations. In the first hole 1288-05-14, the
Tuffite, injected by numerous dykes, spreads out from 235.2 to 258.3m
over a length of 23.1 m. Substracting the dykes, the cumulative length
of Tuffite along the hole, totals 10.2 m grading 0.47% Zn and 0.03% Cu.
The second one, cut by hole 1288-05-15 from 221.6 to 222.6m gave 1m
grading 0.44% Zn and 0.04% Cu. The Pulse-EM survey in that second hole
has indicated an off-hole anomaly detected by all 20 channels, has a 70
to 80m wavelength centered at 225m down the hole and indicates the
presence of an evident conductor east of the hole.

Other diamond drill holes are scheduled towards the end of March as
follow-up to the present results and to the ongoing INFINITEM
geophysical surveys in the western block of the property. It is
appropriate here to recall that in the Matagami mining camp, the Key
Tuffite marks the favourable contact between the rhyolitic lavas of the
Watson Lake Formation at the base, overlain by the basaltic lavas of the
Wabassee Formation. This horizon, which contains nearly all of the
orebodies of the Matagami mining camp, corresponds to the level of time
and space prevailing during the formation of the volcanogenic massive
sulphide deposits of this mining camp. It has an average thickness of
from 30 to 60 cm with average grades of 1.4% Zn and 0.10% Cu (Davidson,
1977).

Metco wishes here to inform that on last February 24th, a total of
875,000 options were granted within its fixed-price share option plan
established for its employees, directors, officers and consultants. The
exercise price is $ 0.10 per share for a period of two years. Most of
these options (800,000) are as replacement for options expired in
January and February 2005.

This drilling campaign and other ongoing exploration work is supervised
and managed by SOQUEM INC., Metco's 50 :50 partner in the property.
SOQUEM is a wholly-owned subsidiary of SGF Mineral inc., which is a
subsidiary of the Societe generale de financement du Quebec (SGF). The
mission of the SGF, industrial and financial holding, is to carry out
economic development projects, especially in the industrial sector, in
cooperation with partners and in accordance with accepted requirements
of profitability, in conformity with the economic development policies
of the Quebec Government.

The corporate strategy of Metco is to search for, acquire, explore, and
develop mining properties with a high potential for base metals
throughout Canada. The TSX Venture Exchange does not accept
responsibility for the adequacy or accuracy of this release.

Florent Gauthier, P.Eng., is the qualified person and has reviewed the
content of this news release.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Metco Resources Inc.
    Florent Gauthier, P.Eng.
    President
    (514) 875-6279
    or
    Metco Resources Inc.
    Michel Rathe
    Secretary-treasurer
    (514) 875-9820
    metco@info.ca
    www.metco.ca