Matamec Announces Two More Drills Results on the Sakami Gold Project
12 February 2014 - 1:29AM
Marketwired
Matamec Announces Two More Drills Results on the Sakami Gold
Project
MONTREAL, QUEBEC--(Marketwired - Feb 11, 2014) - Matamec
Explorations Inc. ("Matamec" or the
"Company")(TSX-VENTURE:MAT)(OTCQX:MHREF) and Canada Strategic
Metals (TSX-VENTURE:CJC)(FRANKFURT:YXEN)(OTCBB:CJCFF) are pleased
to announce results from two more drill holes from the recent
drilling campaign on the Sakami gold project. Holes PT-13-66 and
PT-13-67 intersected a mineralized zone that returned 1.18 g/t Au
over 15.45 metres from Hole PT-13-66 and 3.78 g/t Au over 27.95
metres, including 4.01 g/t over 22.60 metres and 7.21 g/t Au over
7.00 metres, from Hole PT-13-67. For further information on the
drill results, visit Canada Strategic Metals ("CSM") press release
issued today at: www.csmetals.ca.
Regarding the option agreement with Matamec signed August 19,
2013, CSM will have acquired an interest of 50% in Sakami after
issuing a total of 2,000,000 common shares and carrying out
exploration in the amount of $2,250,000 before August 16, 2016.
Within 180 days of acquiring its 50% interest in the property, CSM
will have an option to acquire an additional 20% property interest
by issuing 1 million shares to Matamec and completing an
independent bankable feasibility study within five years of the
date of the share issuance. During the period that the additional
option is valid, CSM must spend a minimum of $2,000,000 on
exploration by the end of each year until the feasibility study is
completed.
Aline Leclerc, VP Exploration (Geo.) is Matamec's Qualified
Person for this press release.
About Matamec
Matamec Explorations Inc. is a junior mining exploration company
whose main focus is in developing the Kipawa HREE deposit with
TRECan.
In parallel, the Company is exploring more than 35 km of strike
length in the Kipawa Alkalic Complex for rare
earths-yttrium-zirconium-niobium-tantalum mineralization on its
Zeus property. Since 2007, Matamec discovered eight (8) new rare
earth showings. Particularly, it drilled the PB-PS Zone in the fall
of 2012 and identified
Eudialyte-Mosandrite/Yttro-Titanite/Britholite mineralization
similar to those found at the HREE Kipawa Deposit. This type of
mineralization is presently known over a length of 200 metres and
is open laterally and at depth. This mineralized zone is 2.3 km SW
of the Kipawa deposit and a soil anomaly seems to connect the two.
The Company plans to drill these extensions later this year.
The Company is also exploring for gold, base metals and platinum
group metals. Its gold portfolio includes the Matheson JV property
located along strike and in close proximity to the Hoyle Pond Mine
in the prolific gold mining camp of Timmins, Ontario. In Quebec,
the Company is exploring for lithium and tantalum on its Tansim
property and for precious and base metals on its Valmont and
Vulcain properties. Matamec signed in August 2013 an option
agreement where Canada Strategic Metals can acquire an interest of
up to 50% in the Sakami gold project, located in the James Bay
region of northern Quebec by committing $2.25 million in
exploration work including $500,000 in the first year of drilling -
part of the results from the campaign finished in January 2014 have
already been announced, with the rest upcoming soon.
Cautionary Statement Concerning Forward-Looking Statements
This news release contains "forward-looking information"
within the meaning of Canadian Securities legislation. Generally,
forward-looking statements can be identified by the use of
forward-looking terminology such as "scheduled", "anticipates",
"expects" or "does not expect", "is expected", "scheduled",
"targeted", or "believes", or variations of such words and phrases
or state that certain actions, events or results "may", "could",
"would", "might" or "will be taken", "occur" or "be achieved".
Forward-looking statements are based on assumptions management
believes to be reasonable at the time such statements are made.
There can be no assurance that such statements will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking
statements. Although Matamec has attempted to identify important
factors that could cause actual results to differ materially from
those contained in forward-looking statements, there may be other
factors that cause results not to be as anticipated, estimated or
intended. Factors that may cause actual results to differ
materially from expected results described in forward-looking
statements include, but are not limited to those risk factors set
out in the Company's year-end Management Discussion and Analysis
dated December 31, 2012 and other disclosure documents available
under the Company's profile at www.sedar.com. Forward-looking
statements contained herein are made as of the date of this news
release and Matamec disclaims any obligation to update any
forward-looking statements, whether as a result of new information,
future events or results or otherwise, except as required by
applicable securities laws.
"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."
Andre GauthierPresident(514)
844-5252514-844-0550info@matamec.comEdward MillerDirector IR(514)
844-5252 ext.
205514-844-0550edward.miller@matamec.comhttp://www.matamec.com
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