Matamec Expands its Property
06/14/01 - VAL-D'OR, QUEBEC--Based on the conclusion of a structural and metallogenic study by SRK Consulting, the compilation of drilling results and the discovery of two (2) new mineralized occurrences (showings), Matamec has decided to expand its Sakami property (first by acquisition of an exploration mining permit (P.E.M.) than by staking claims). This property now covers an area of 170 km2 (it was originally 15.4 km2). Zones 23, 25 and 26 already known and verified by drillings as well as "peninsule" and "J-R" showings located at 1.5 km and 10 km to the North, are all found in the same corridor (that is a major fault). This auriferous corridor, of 150 meters wide, followed over a distance of 35 kilometres, belongs now to Matamec.
The structural study states that "the geological setting of the gold mineralization found by Matamec on the Sakami property presents striking similarities with the geological setting of several other major Archean gold mining camps. In particular, this setting is very similar to that found in the southern Abitibi belt near Val-d'Or where the Cadillac fault is renown of its formidable gold endowment. Cadillac and Sakami faults are complex fault zone located at the contact between two (2) geological sub-provinces." (from the report of Jean-François Couture, Ph.D., SRK Consulting).
Also, Matamec management informs that it has closed on May 31, the last part of its financing by way of a prospectus by completing the sale of the entire B Units, composed of ordinary shares (not flow-through shares) and subscription warrants (subscription of 90 units B at $1000/unit for a total of $90,000).
Furthermore, recent changes occurred within the Matamec board of directors. Following the departure of Messrs Jean-Pierre Thomassin (November 2000) and Jean Girard (March 2001), a new director, Mr. David Laplante, has joined the Matamec team. Mr. Laplante will develop the public relations and communications with investors sector.
Matamec is a junior exploration company whose shares are traded on the Montreal Stock Exchange under the symbol MAT.
FOR FURTHER INFORMATION PLEASE CONTACT:
MATAMEC EXPLORATIONS INC.
Mr Luc Lamarche
(819) 824-2688 and (819) 738-7350
(819) 824-2608 (FAX)
Email: [email protected]
MATAMEC EXPLORATIONS INC
1576, Chemin Sullivan, bur. # 2
Val d'Or, Québec
Phone: (819) 824-2688
Fax: (819) 824-2608