MATAMEC - NEW GOLD DISCOVERY IN JAMES-BAY 9,7 g/t Au over 11,8m (38,7') including 28,7 g/t Au over 2,5m (8,2')
11/27/01 - Val-d'Or, Québec-- Matamec Explorations Inc. announces today the preliminary results of its second drilling campaign on the Sakami project. As we reported already a few weeks ago, this drilling campaign allow to better define the zones intersected during the first drilling phase. A total of 2000 meters (6 600') were drilled.
For the very first time, drilling took place on zone 26, an iron formation located at approximately 40 m west of zone 25. Let us recall that last March hole EX-10 drilled on zone 25 ( a mixture of intrusive felsic rocks, iron formation and sedimentary rocks) gave a spetacular intersection of 2,51 g/t Au over 54,4m (179'). (Press release dated of May 2nd 2001)
The company is extremely encouraged with these results which are very promessing. "During work of summer 2001, we have studied and understood the geometry of zone 26, which helped us to get better drill holes position, indicates Mr. Luc Lamarche. Drill hole EX-19 returned 9,7 g/t Au over 11,8m (38,7'), including a richer zone of 28,7 g/t Au over 2,5m (8,2'). Detailed analysis of this richer zone shows a very continuous mineralization:
Width (m)---------------- Intersection from/to (m)------------ Grade Au
0,5 ------------------------- 58,25 to 58,75 ----------------------- 24,1 g/t
0,5 ------------------------- 58,75 to 59,25 ----------------------- 30,7 g/t
0,5 ------------------------- 59,25 to 59,75 ----------------------- 31,7 g/t
0,5 ------------------------- 59,75 to 60,25 ----------------------- 25,1 g/t
0,5 ------------------------- 60,25 to 60,75 ----------------------- 32,0 g/t
"With these new developments, the Sakami project becomes two times more promising. Drilling results last March showed us the presence of a significant gold bearing structure (zone 25) and now, at less than 40m, we have found a new high grade gold zone" indicates Mr. Lamarche.
The first four drill holes have returned the following values:
Hole ------------------- Lenght ------------------ Grade Au ------------- Target
EX-17 ------------------ 9,65 m (31,7') --------- 1,8 g/t -------------- Zone 25
------------------------- 4,15 m (13,6') --------- 1,3 g/t -------------- New zone
EX-18 ------------------ 8,00 m ( 26,2') -------- 2,06 g/t ------------- Zone 25
EX-19 ----------------- 11,8 m (38,7') ---------- 9,7 g/t -------------- Zone 26
--------------Including: 2,5 m (8,2') ---------- 28,7 g/t
EX-20 ------------------ 1,35 m (4,43') --------- 4,1 g/t -------------- New zone
All the assays were analyzed at the Bourlamaque Assay Laboratory of Val-d'Or.
Results from EX-22, second and last hole in zone 26 will be available
and communicated to you soon.
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The Canadian Venture Exchange (CDNX) does not accept responsability for the adequacy or accuracy of this release.
For further informations, please contact :
MATAMEC EXPLORATIONS INC.
M. Luc Lamarche, President
Phone. : (819) 824-2688 Fax. : (819) 824-2608
Email: [email protected]
Web site: http://www.matamec.com/
MATAMEC EXPLORATIONS INC
1576, Chemin Sullivan, bur. # 2
Val d'Or, Québec
J9P 1M3
Phone: (819) 824-2688
Fax: (819) 824-2608
[email protected]
http://www.matamec.com/
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