The objective of the drilling campaign was to increase the size of the main gold zone (zone 25), located in the La Pointe sector of the Sakami property, towards the west-northwest, as well as its extension at depth, and also to test its southward extension. Following this drill campaign, zone 25 will have been tested over a 300-metre lateral distance and to a depth of 500 meters along its plunge.
As soon as CSM and Matamec have received and compiled the results from drill holes PT-16-92 to PT-16-99, they will be disseminated. The locations of the new drill holes are presented in figure 1.
Claude Bisaillon, ing. (OIQ # 116407), is a qualified person according to NI 43-101 regulations; he has reviewed and approved the technical content of this press release.
“The first results from this campaign are very promising for Sakami,” said André Gauthier, president and CEO of Matamec. “This good news enhances the Company’s entire gold portfolio, including its interests and royalties in gold mining properties in Timmins, Ontario.”
Matamec Explorations Inc. is a junior mining exploration company whose main focus is in developing the Kipawa HREE JV deposit owned at 72% by the Company and 28% by Ressources Québec (acting as agent of the Government of Québec); Toyota Tsusho Corp. (Nagoya, Japan) holds a 10% royalty on net profit in the deposit. Furthermore, 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.
The Company is also exploring for gold, base metals and platinum group metals. Its gold portfolio includes the Hoyle-Matheson Royalties (see the March 2, 2016 and April 28, 2016 press releases), Matheson JV (MJV) and Pelangio properties located along strike and in close proximity to Goldcorp’s Hoyle Pond Mine in the prolific gold mining camp of Timmins, Ontario. Matamec holds a 50% undivided interest in the MJV property and is its operator. In addition, the Company holds a 1% NSR royalty in the Montclerg Property located 48 km northeast of Timmins along the Pipestone Fault.
In Québec, the Company is exploring for strategic metals such as lithium, tantalum, and beryllium on its Tansim property and for precious and base metals on its Valmont and Vulcain properties.
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”, “pursue”, “targeted”, or “believes”, or variations of such words and phrases that 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.