February 27th, 2002
VAL-D'OR (Québec) -- During the months of March and April 2002, Matamec Explorations Inc. will carry out a strategic diamond drill program on its Sakami property (James Bay, Quebec). This important program will comprise 11,500 feet of diamond drilling on Zones 25 and 26, as well as 3,500 feet on the Kalmia and JR gold showings (see previous news release), for an aggregate total of 15,000 feet (4,600 m) of drilling.
During the months of January and February 2002, a synthesis of all diamond drilling on the 25 and 26 Zones (see press releases published on June 6, November 27 and December 12, 2001) was completed by M. Jean Lavallée, mining engineer and geologist (with 60 years of experience), in order to well prepare this important drill program.
|
Drill Hole |
g/t Au |
Length |
Level |
| EX-2 Included in |
2,10 1,40 |
18 m (59') 45,25 m (148,4') |
-15 m (-49') |
| EX-10 Included in |
3,43 2,51 |
27 m (86') 54,65 m (179') |
-40 m (-131') |
| EX-19 | 10,46 | 10,8 m (35') | -40 m (-131') |
| EX-3 | 2,23 | 9,5 m (31,1') | -40 m (-131') |
| EX-22 | 6,42 | 12,7 m (42') | -52 m (-171') |
| EX-5 | 1,54 | 9,0 m (29,5') | -53 m (-174') |
| EX-1 Included in |
3,01 1,31 |
7,9 m (26') 26,95 m (88') |
-65 m (-213') |
| EX-25 | 3,41 2,50 |
11,4 m (37') 19,85 m (65') |
-92 m (-302') |
| EX-9 Included in |
1,70 1,74 1,29 |
10,0 m (33') 4,6 m (15') 22 m (75') |
-95 m (-312') -103 m (-338') |
| EX-17 | 1,90 | 9,6 m (32') | -102 m (-336') |
| EX-13 | 2,96 | 8,2 m (27') | -122 m (-400') |
| EX-23 Included in |
3,59 1,89 |
7,4 m (24') 23,20 m (76') |
-133 m (-436') |
| EX-27 | 1,17 0,802 1,74 |
8,2 m (27') 31,45 m (103') 4,1 m |
-133 m (-436') -145 m (-476') |
| EX-18 | 2,19 | 7,0 m (23') | -165 m (-541') |
On December 31st, 2001, proceeds of $797,000 had been raised by the company by means of flow-through financing, with the issuance of 793 A units and 4 B units at a unit price of $1 000 ; bringing the total number of company shares in circulation to 15 918 209.
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The Canadian Venture Exchange (CDNX) does not accept any responsibility for the adequacy or accuracy of this news release.
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