The Sakami property is located in the vicinity of the Eleonore gold mine in the James Bay region of northern Quebec, approximately 570 kilometers north of Val-d’Or and 900 kilometers northwest of Montreal. The Sakami property consists of a total of 213 mineral claims covering 10,737 hectares.
The property is owned 50% by Matamec and 50% by Canada Strategic Metals (CSM). In February 2017, CSM exercised the option agreement between it and Matamec, whereby it has issued 1,000,000 common shares to Matamec and will need to complete an independent bankable feasibility study (“feasibility study”) for the property within five years. Until the feasibility study is completed, CSM must spend a minimum of CDN$2,000,000 per year on exploration works on the property. CSM will remain the operator of the exploration works during the option period, supervised by a management committee comprising two representatives of CSM and two representatives of Matamec. Click here to read full press release with details of the agreement.
The Sakami Property straddles the contact of the Opinaca and La Grande Subprovinces which offer a variety of lithologic settings in which to host various mineral deposit types (see figure 1). Several mineralized areas hosting significant gold grades are known to exist throughout the Property and have been the focus of exploration work.
Figure 1.Map of the Sakami Property, identifying regional geology and explored local sectors
4 main sectors of interest in the northeast part of the property
Before adding 93 new claims in August 2016, exploration work had mainly been completed on the following sectors, from south to north: La Pointe, Péninsule, JR and Île.
- The recent drilling campaigns, which took place between 2014 and 2016, have been located in the La Pointe sector, particularly on Zone 25, in which gold occurs in proximity to the subprovince contact in association with a strong shear zone.
In Zone 25, the last 3 drill holes done in 2016 in the west have resulted in the following intersections (true length estimated at 70% to 95% of intersections):
- PT-16-91 : 2.21 g/t Au over 43.3 metres;
PT-16-92 : 2.52 g/t Au over 48.55 metres
- Including 4.94g/t Au over 21.05m;
- PT-16-93 : 1.87 g/t Au over 27 metres.
- The Péninsule sector is located approximately 1.5 km northwest of La Pointe and is almost entirely within the Laguiche sedimentary units. There are numerous outcrops of greywacke, paragneiss, pegmatite, and a single outcrop of basalt to the northwest. Gold showings in this area are associated with quartz-pyrite veinlets.
- Following channel sampling done in 2016, the Simon showing has been identified and supports the presence of high-grade gold values, with channel sampling results of 20.8 g/t Au over 1 metre and 17.45 g/t Au over 1 metre. This new gold showing is located on a geophysical anomaly where a strong magnetic low is observed, as well the junction of multiple faults. It is also located on the contact between the Laguiche sediments (Opinaca) and the La Grande volcanics.
- The JR sector consists mainly of Yasinski group basalts from the La Grande Subprovince, in contact with the detrital sediments of the Laguiche Group (Opinaca Subprovince) in the east; this contact continues to be the focus of exploration work on JR.
- The Île showing could be a northeastern extension of the JR showing, 2.5 km to the east-northeast.
La Pointe Sector: Zone 25 (see figure 2)
Matamec has identified three (3) distinct gold zones between the two geological subprovinces of La Grande and Opinaca on the La Pointe sector, namely Zones 23, 25 and 26 from east to west. Zone 25 in particular is continuous along a lateral distance of at least 500 m and extends more than 200 m in the down dip direction (50-60 degrees to the south). Zone 25 outcrops at surface, however, it plunges gently to the west-north-west under Lake Sakami.
Figure 2. Geological map of the Lapointe Sector and longitudinal view of the west part of Zone 25 (inset)
The results from PT-16-93 together with PT-16-91 and PT-16-92 confirm that Zone 25 increases in thickness and grade to the northwest. The mineralization remains open in this direction, as well as at depth, with the best intersects along the northern edge, where the thickness varies between 6 and 40 metres. Note that the grade of the intervals are relatively consistent; there are no extreme grade assays that carry very low grade intervals. The very thick intervals and their relative position suggest a possible merging of Zones 22 and 25 to the northwest (see figure 3).
Figure 3. Composite section of Zones 25 and 22 looking in an oblique angle illustrating potential merging of these zones