Phoenix Matachewan Mines Inc.
TSX VENTURE : PMM

Phoenix Matachewan Mines Inc.

September 19, 2005 10:18 ET

Phoenix Matachewan Mines Inc.-Steel River Sampling Results: Up to 23.5% Zinc, 3.1% Copper

OTTAWA, ONTARIO--(CCNMatthews - Sept. 19, 2005) - Phoenix Matachewan Mines Inc. (TSX VENTURE:PMM) announced today preliminary surface geochemical sampling results from its 155km2 Steel River base metal project, northwestern Ontario.

To date 8 exploration grids, each at least one km long and 500m wide, have been established on the combined geophysical/geochemical targets. Surface geophysics and diamond drilling are underway, with results for both pending. The compiled work has identified a folded, 34km long cherty exhalite horizon that has zones of zinc, copper and gold enrichment at regular intervals along it. Each of these corresponds to an airborne conductive zone.

Data from the surface sampling are summarized in the table below. Taken for lithogeochemical as well as prospecting purposes, these samples provide a general overview of the metal contents of the rocks in each grid. Note that peak metal contents (up to 23.5% Zinc and 3.1% Copper) have been located in outcrops (Grids 2, 3 and 10).



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GRID 1 2 3 6 7 8 10 11
Sample No. 86 50 68 12 16 54 15 7
Zn Av. ppm 133 6,830 5,467 175 168 185 214 64
Zn Range ppm 1 - 32 - 5 - 2 - 27 - 7 - 15 - 17 -
619 92,838 234,940 673 730 927 713 132
(9.3%) (23.5%)
Cu Av. ppm 34 57 500 1100 109 215 3,866 16
Cu Range ppm 1 - 4 - 1 - 13 - 1 - Jan - 62 - 3 -
290 638 29,019 361 237 15 31,537 29
2.9% (3.1%)
Au Av. ppb 15 13 12 14 28 7 43 15
Au Range ppb 5 - 5 - 5 - 5 - 5 - May - 5 - 9 -
291 147 157 157 203 19 185 22
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New and historic base metal showings demonstrate widespread high potential for the discovery of economic-grade zones of zinc and copper mineralisation. Both massive and stringer sulphides have been uncovered. The exceptional ruggedness of the area prevents access for stripping, and requires, at least in part, helicopter-supported drilling.

Steel River Property, midway between Marathon and Terrace Bay in northwestern Ontario has seen little historic mineral exploration despite being situated just five kilometres north of the Trans-Canada Highway. It is located between past-producing volcanogenic massive sulphide (VMS) districts at Manitouwadge, (65Mt; av. 1.2%Cu, 0.12%Pb, 3.7%Zn, 40g/t Ag), 75 km ENE and Winston Lake, (7Mt; av. 1.0 %Cu, 16.8% Zn, 33g/t Ag), 45 km W. Historic intersections peaking at 16.5% Zn over 5m at shallow depths have been obtained near Bozena Lake (Grid 3). The Bozena Lake area is the site of the first drill holes in the current program.

Drill results are delayed due to the move of the Accurassay Inc. laboratory, in Thunder Bay, which has also processed these samples.

Chris Wagg B. Sc. P. Geo, V.P Exploration is the Qualified Person for this work.

Phoenix Matachewan Mines Inc. is a mineral exploration company with head office in Ottawa, Canada. In addition to the Steel River Project PMM operates the Swanson gold (120,000oz Au deposit) in northwestern Quebec, and the very prospective Bottle Creek gold-silver project in Nevada.

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

Contact Information

  • Phoenix Matachewan Mines Inc.
    Robin B. Dow
    CEO
    1-888-834-7708
    robin@dowgroup.ca
    or
    BAY STREET CONNECT
    Gus Garisto or Jonathan Buick
    1-416-907-0979