Matamec Discovers Six (6) New Gold Showings on its Sakami Property
11/13/01 - VAL D'OR, QUEBEC--Matamec Explorations Inc. releases today the results of its 2001 summer exploration works. As mentioned last September, the summer exploration campaign had two (2) main goals: carry out prospection on yet unexplored area of the Sakami property and preparatory work for the fall drilling, actually underway.
SIX (6) NEW SHOWINGS:
Along the "Sakami fault zone" towards the north, Matamec has until now, identified six (6) new gold showings. Most of the new showings are located inside the fault zone. However, prospection carried out outside this gold corridor (fault zone), exactly four (4) km NE of zone 25, has permitted Matamec to discover a new gold showing (Kalmia). "It was a real surprise. We were not expecting to find such an occurrence outside the Sakami fault zone. This showing is in the Opinaca geological sub-province and, right now, we still don't understand this discovery," said Mr Luc Lamarche, president.
/T/
Samples taken on these showings have returned the following results:
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New showings Sample g/t Au Location
PENINSULE 1 1.0 g/t Au * 1.5 km NE of Zone 25
along the gold
corridor
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PENINSULE 2 1.5 g/t Au * 1.6 km NE of Zone 25
along the gold
corridor
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KALMIA 4.0 g/t Au * 4.0 km NE of Zone 25,
outside the gold
corridor
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JR 5.5 g/t Au * 2.1 g/t / 2.5 m
(8.2') ** 8.0 km N of Zone 25
inside the gold
corridor
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PASSE 2.0 g/t Au * 1.5 km east of JR
showing along the gold
corridor
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ILE 2.0 g/t Au * 1.5 km west of JR
showing along the gold
corridor
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* Selected sample (analysed at Bourlamaque Assay Laboratories of
Val-d'Or)
** Channel sample
Remember that Matamec has 35 km of that gold corridor. At this moment, we have identified eight (8) gold showings on an 8 km distance of that corridor. Matamec has now identified three (3) gold areas:
1- Zones 23, 25, 26 with Peninsule 1 and 2 showings;
2- Kalmia showing;
3- JR, Passe and Ile showings.
STRIPPING AND CHANNEL SAMPLING:
Stripping and channel sampling works carried out last summer were mainly performed on zones 25 and 26. Channel sampling returned the following results:
ZONE 26:
SUMMER 2001 4.17 g/t Au over 7.2 m (23.6')
Detail: 3.52 g/t Au over 4.7 m (15.4') and 5.38 g/t Au
over 2.5 m (8.2') Incl. 6.72 g/t Au over 2.0 m (6.6')
SUMMER 2000 2.09 g/t Au over 9.96 m (32, 7')
ZONE 25
SUMMER 2001 Several intersections between 1.61 g/t Au over 7.65 m
(25.1') to 2.53 g/t Au over 4.6 m (15.1')
SUMMER 2000 1.72 g/t Au over 20.81 m (68.3')
/T/
RESAMPLING:
Matamec has also redone the sampling of the drilling Ex-10. Remember that last March, a value of 2.48 g/t Au ov 54.65 m (179')was obtained. The new sampling returned 2.51 g/t Au over 54.65 m (179').
EMERALDS/DIAMONDS:
Matamec could not carry out exploration for these minerals this summer. Significant gold discovery changed all the plans again and the emeralds and diamonds investigation had to be postponed. However, summer 2002 exploration campaign should include emeralds/diamonds prospection.
WORK UNDERWAY:
The second drilling phase has started October 22, 2001 on the Sakami property. This drilling campaign will allow, among others, to better define zones intersected during the first drilling phase.
Also, line cutting is actually underway on Kalmia, JR, Passe and Ile showings.
WORK TO COME:
With the 400,000.00$ assistance granted by the Ministry of Natural Resources of Quebec, Matamec is pleased inform you that exploration work will be carried out on the new showings this winter (February and March 2002). Geophysics and a drilling campaign (2000 m or 6,560') are planned on the Kalmia, JR, Passe and Ile showings.
A new flow-through financing is actually underway and a third drilling phase is planned for March 2002 on the 23, 25 and 26 zones.
WEB SITE:
Matamec is also please to place a complete web site at shareholders and investors disposal. You can consult it at the following address: http://www.matamec.com/ The English version will be available in a week.
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FOR FURTHER INFORMATION PLEASE CONTACT:
MATAMEC EXPLORATIONS INC.
Mr Luc Lamarche
President
(819) 824-2688
(819) 824-2608 (FAX)
Email: [email protected]
Web site: http://www.matamec.com/
The Canadian Venture Exchange (CDNX) does not accept
responsability for the adequacy or accuracy of this release.
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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