MONTREAL, QUEBEC -- (Marketwire) -- 06/03/10 -- Matamec Explorations Inc. ("Matamec") (TSX VENTURE: MAT) is proud to announce that it has received from the independent firm SGS Canada Inc. - geological department of Geostat ("SGS Geostat") the main assay tables from the new NI 43-101 resource calculation on the Kipawa Deposit, on the Zeus property.
More specifically described later in this release, SGS Geostat calculated that the Kipawa Deposit contains resources of rare earths-yttrium ("TREO") and of zirconium oxides ("ZrO2"). The resource has been considered under two scenarios: 1) a resource of rare earths-yttrium with zirconium as a by-product, or 2) a resource of zirconium with rare earths-yttrium as a by-product.
-------------------------------------------------------------------------- Scenario 1: TREO Resources with ZrO2by-product -------------------------------------------------------------------------- TREO(i) (H+Y)(ii)/ Cut-off grade % Classification Tonnes % ZrO2 % TREO(i) % -------------------------------------------------------------------------- TREO greater Indicated 2,510,000 0.63 0.88 32 than 0.50 -------------------------------------------------------------------------- TREO greater Inferred 4,730,000 0.66 0.97 33 than 0.50 -------------------------------------------------------------------------- Y2O3 greater Indicated 3,350,000 0.58 0.89 33 than 0.10 -------------------------------------------------------------------------- Y2O3 greater Inferred 6,480,000 0.60 0.99 34 than 0.10 -------------------------------------------------------------------------- -------------------------------------------------------------------------- Scenario 2 : ZrO2 resources with TREO by-product -------------------------------------------------------------------------- Cut-off Classifi- Geologic TREO(i) ZrO2 (H+Y)(ii)/ grade % cation zones Tonnes % % TREO(i) % -------------------------------------------------------------------------- ZrO2 greater than 0,50 Indicated TREO enriched 6,560,000 0.90 0.46 32 -------------------------------------------------------------------------- ZrO2 greater than 0,50 Indicated ZrO2zones 14,460,000 1.02 0.12 28 -------------------------------------------------------------------------- ZrO2 greater than 0,50 Indicated Total 21,020,000 0.99 0.23 32 -------------------------------------------------------------------------- ZrO2 greater than 0,50 Inferred TREO enriched 10,310,000 0.99 0.51 34 -------------------------------------------------------------------------- ZrO2 greater than 0,50 Inferred ZrO2 zones 7,730,000 1.03 0.12 36 -------------------------------------------------------------------------- ZrO2 greater than 0,50 Inferred Total 18,040,000 1.01 0.34 34 -------------------------------------------------------------------------- (i): TREO contains all rare earth oxides and Y2O3 (ii): H+Y: Heavy rare earth oxides (HREO) and Y2O3
NOTE: Scenario 1 contains material from Scenario 2 and vice versa. We cannot add the tonnage of the two scenarios.
PRESS RELEASE HIGHLIGHTS
-- SGS Geostat modelled the entire mineralized syenite body within the
Kipawa complex, and in which it has defined two types of mineralized
zones;
-- SGS Geostat estimates that the Kipawa Deposit is continuous over a
distance of 1.45 kilometres, is 200 metres wide and is 50 metres deep;
-- Two types of mineralization are observed in the Kipawa Deposit:
1. The first type of mineralization is composed of 3 zones enriched in
rare earths and yttrium ("TREO") named "Eudialyte zone", "Mosandrite
zone" and "Britholite zone". These areas contain zirconium (ZrO2);
2. The second type of mineralization is composed of zirconium with
lower levels of rare earths and yttrium. These areas are
interspersed with areas enriched in rare earths and yttrium.
-- The Kipawa deposit is located in an area that is easily accessible by
road. It is near infrastructures and a well-trained workforce;
-- The Kipawa deposit is presently considered open both laterally and at
depth;
-- The drilling holes completed by Matamec strongly suggest that there is a
very good spatial continuity in the Kipawa deposit, both in terms of
different lithologies and enriched mineralization in rare earths-
yttrium;
-- In eight of nine sections examined within the Central Zone, the down-dip
drill holes are better mineralized than those up-dip, strongly
suggesting potential to encounter still better mineralization down dip
from the currently defined deposit. Only one section hosts the opposite
tendency.
The Zeus property is located near infrastructure and easily accessible by a network of logging roads. It is located 160 kilometres south of Rouyn-Noranda and 65 kilometres east of the town of Temiscaming. The property is 100% owned by Matamec and it has 260 designated claims covering over 15,300 hectares in the Kipawa alkaline complex. It includes the Kipawa deposit (also known as the Sheffield area).
Before the new NI 43-101 resource calculation from SGS Geostat, the Kipawa deposit presented historical resources (non NI 43-101) yttrium and zirconium in the West Zone (1.26 Mt @ Y2O3 0.15% and 0.96% ZrO2), in the Central Zone (no resource calculated) and the East Zone (1.009 Mt @ 0.14% and 1.17% Y2O3 ZrO2). Thanks to its favourable location along a hill, an open pit was already planned for this deposit in the historic resource calculation of 1990.
Modelling of NI 43-101 resources by SGS Geostat
For the NI 43-101 resource calculation, SGS Geostat used the method of inverse distance squared. The resource blocks have dimensions of 10m x 10m x 5m. The drill grid considered for indicated resources is 50m. Extrapolated resources over 30m and calculated rare earth values on historic drill holes are considered inferred. The database used consists of 12 discontinuous trenches (in 55 continuous parts) and 65 assays (34 drilled in 1988-1990 by Unocal Canada Ltd., and 31 drilled in 2009 by Matamec) totalling 4,416.19 meters drilled. A total of 3133 analyzed intervals were used for the calculation.
SGS Geostat modelled the entire mineralized syenite body within the Kipawa deposit of about 1.45 m x 200m x 50m, in which it has defined two types of mineralized zones.
SGS Geostat calculated that the Kipawa deposit contains resources of rare earths-yttrium oxides ("TREO") and zirconium oxide (ZrO2). The resource has been calculated under two scenarios: either a resource of rare earth yttrium with a zirconium by-product, a resource of zirconium with a rare earths-yttrium by-product.
Mineralized zones definition for resource modelling
Scenario 1
The first scenario consists of three TREO-enriched areas named "Eudialyte zone", "Mosandrite zone" and "Britholite zone" which always contain zirconium. These mineralized zones are modelled using geological interpretation, mineralogy and rare earth - yttrium values.
-- At a cutoff grade of 0.50% TREO SGS Geostat calculated for these three areas indicated resources of 2.51 million t, grading 0.63% TREO with 0.88% ZrO2 oxides et inferred resources of 4.73 million t grading 0.66% TREO with 0.97% ZrO2. In addition, the ratio of HREO Y2O3 + / TREO is 32% in indicated resources and 33% in the inferred resources (see Table 1). -- The first scenario also consists of three TREO areas with a cutoff grade superior to 0.10% Y2O3, SGS Geostat calculated for these three areas indicated resource of 3.35 million t at a grade of 0.58% TREO with 0.89% ZrO2 and inferred resource of 6.48 million t at a grade of 0.60% TREO with 0.99% ZrO2. In addition, the ratio of HREO Y2O3+/ TREO is 33% in indicated resources and 34% in the inferred resources (see Table 2).
Scenario 2
The second scenario is composed of ZrO2 with the TREO as by-product. Both TREO-rich zones and ZrO2 zones are considered. These areas are interspersed with areas enriched in TREO. These zones at a cutoff grade of 0.50% ZrO2 are:
-- For the TREO enriched zones, SGS Geostat calculated indicated resources of 6.56 million t with a grade of 0.90% ZrO2 and 0.46% TREO and inferred resources of 10.31 million t with a grade of 0.99% ZrO2 - 0.51% TREO. In addition, the ratio of HREO Y2O3 + / TREO is 32% in indicated resources and 34% in the inferred resources; -- For the ZrO2 zones, SGS Geostat calculated indicated resources of 14.46 million t with a grade of 1.02% ZrO2 and 0.12% TREO and inferred resources of 7.73 million t with a grade of 1.03% ZrO2 - 0.12% TREO. In addition, the ratio of HREO Y2O3 + / TREO is 28% in indicated resources and 36% in the inferred resources; -- Both types of mineralization combined give a total tonnage of resources in ZrO2-TREO in the indicated category of 21.02 million t with a grade of 0.99% ZrO2 with 0.23% TREO and in the inferred category of 18.04 million t with a grade of 1.01% ZrO2 with 0.34% TREO. In addition, the ratio of HREO Y2O3 + / TREO is 32% in indicated resources and 34% in the inferred resources (see table 3);
Resources in metric tones
Scenario 1
For the first scenario, at a cutoff grade of 0.50% TREO we find 15,800 t of TREO including 1,600 t of HREO, 3,500 t of Y2O3 and 22,100 t of ZrO2 in the indicated resources, as well as 31,200 t of TREO including 3,400 t of HREO, 7,100 t of Y2O3 and 45,900 t of ZrO2 (see table 1).
Scenario 2
For the first scenario, which uses a cutoff grade of 0.10% of Y2O3, there are 19,400 t of TREO including 2,000 t of HREO, 4,400 t of Y2O3 and 29,800 t of ZrO2 in the indicated resources, as well as 38,900 t of TREO including 4,200 t of HREO, 9,100 t of Y2O3 and 64,200 t of ZrO2 in inferred resources (see Table 2).
In the TREO enriched zones, 59,000 t of ZrO2 and 30,200 t of TREO including 3,200 t of HREO and 6,600 of Y2O3in indicated resources, as well as 102,100 t of ZrO2and 52,600 t of TREO including 5,700 t of HREO and 12,400 t of Y2O3in inferred resources;
In the ZrO2 zones, 147,500 t of ZrO2and 17,400 t of TREO including 1,900 t of HREO and 2,900 of Y2O3in indicated resources, as well as 79,600t of ZrO2and 9,300 t of TREO including 1,000 t of HREO and 2,300 t of Y2O3in inferred resources;
In both zones combined, 208,100 t of ZrO2and 48,300 t of TREO including 5,000 t of HREO and 10,500 t of Y2O3 in indicated resources, as well as 182,200 t of ZrO2and 61,300 t of TREO including 6,700 t of HREO and 14,400 t of Y2O3 in inferred resources (see table 3);
The breakdown of resources is reflected in the following three tables. The resources are presented in two categories: indicated and inferred at cutoff grade. The table also include in percentage the grade in light rare earths oxide (LREO), medium rare earth oxides (MREO), heavy rare earth oxide (HREO), of the total of rare earths oxide with yttrium (TREO), of each individual rare earth, yttrium, zirconium, as well as the corresponding tonnages.
-------------------------------------------------------------------------- Table 1: SCENARIO 1 - TREO ENRICHED ZONES Indicated and Inferred NI 43-101 Resources at a cut-off of TREO greater than 0.50% -------------------------------------------------------------------------- Zone TREO ENRICHED ZONES -------------------------------------------------------------------------- Tonnage 2,510,000 4,730,000 -------------------------------------------------------------------------- Classification Indicated % Indicated t Inferred % Inferred t -------------------------------------------------------------------------- La2O3 Lanthanum 0.091 2,300 0.092 4,400 -------------------------------------------------------------------------- Ce2O3 Cerium 0.19 4,800 0.19 9,000 -------------------------------------------------------------------------- Pr2O3 Praseodymium 0.023 600 0.023 1,100 -------------------------------------------------------------------------- Nd2O3 Neodymium 0.09 2,300 0.09 4,300 -------------------------------------------------------------------------- LREO(i) Light rare earth 0.39 9,800 0.39 18,400 oxides -------------------------------------------------------------------------- Sm2O3 Samarium 0.019 500 0.019 900 -------------------------------------------------------------------------- Eu2O3 Europium 0.002 100 0.003 100 -------------------------------------------------------------------------- Gd2O3 Gadolinium 0.019 500 0.020 900 -------------------------------------------------------------------------- MREO(i) Medium rare earth 0.040 1,000 0.042 2,000 oxides -------------------------------------------------------------------------- Tb2O3 Terbium 0.004 100 0.004 200 -------------------------------------------------------------------------- Dy2O3 Dysprosium 0.023 600 0.025 1,200 -------------------------------------------------------------------------- Ho2O3 Holmium 0.005 100 0.005 200 -------------------------------------------------------------------------- Er2O3 Erbium 0.015 400 0.017 800 -------------------------------------------------------------------------- Tm2O3 Thulium 0.002 100 0.003 100 -------------------------------------------------------------------------- Yb2O3 Ytterbium 0.013 300 0.015 700 -------------------------------------------------------------------------- Lu2O3 Lutetium 0.002 100 0.002 100 -------------------------------------------------------------------------- HREO(i) Heavy rare earth 0.063 1,600 0.071 3,400 oxides -------------------------------------------------------------------------- Y2O3 Yttrium 0.14 3,500 0.15 7,100 -------------------------------------------------------------------------- HREO + 0.20 5,100 0.22 10,500 Y2O3 -------------------------------------------------------------------------- TREO(i) Total rare earth 0.63 15,800 0.66 31,200 oxides -------------------------------------------------------------------------- Zr2O2 Zirconium 0.88 22,100 0.97 45,900 -------------------------------------------------------------------------- (i) LREO: Light (or Ceric) Rare Earth Oxides = La2O3 to Nd2O3 MREO : Medium Rare Earth Oxides = Sm2O3 to Gd2O3 HREO: Heavy (or Yttric) Rare Earth Oxides = Tb2O3 to Lu2O3 TREO: Total Rare Earth Oxides = LREO + MREO + HREO + Y2O3 -------------------------------------------------------------------------- N.B.: Subdivision used by Roskill Information Services Ltd. and Industrial Minerals Company of Australia Pty Ltd. -------------------------------------------------------------------------- -------------------------------------------------------------------------- Table 2: SCENARIO 1 - TREO ENRICHED ZONES Indicated and Inferred NI 43-101 Resources at a cut-off of Y2O3 greater than 0.10% -------------------------------------------------------------------------- Zone TREO ENRICHED ZONE -------------------------------------------------------------------------- Tonnage 3,350,000 6,480,000 -------------------------------------------------------------------------- Classification Indicated % Indicated t Inferred % Inferred t -------------------------------------------------------------------------- La2O3 0.082 2,700 0.084 5,400 -------------------------------------------------------------------------- Ce2O3 0.17 5,700 0.17 11,000 -------------------------------------------------------------------------- Pr2O3 0.021 700 0.021 1,400 -------------------------------------------------------------------------- Nd2O3 0.08 2,700 0.08 5,200 -------------------------------------------------------------------------- LREO(i) 0.35 11,700 0.36 23,300 -------------------------------------------------------------------------- Sm2O3 0.018 600 0.018 1,200 -------------------------------------------------------------------------- Eu2O3 0.002 100 0.002 100 -------------------------------------------------------------------------- Gd2O3 0.018 600 0.018 1,200 -------------------------------------------------------------------------- MREO(i) 0.038 1,300 0.039 2,500 -------------------------------------------------------------------------- Tb2O3 0.003 100 0.003 200 -------------------------------------------------------------------------- Dy2O3 0.021 700 0.005 1,500 -------------------------------------------------------------------------- Ho2O3 0.005 200 0.016 300 -------------------------------------------------------------------------- Er2O3 0.015 500 0.002 1,000 -------------------------------------------------------------------------- Tm2O3 0.002 100 0.014 100 -------------------------------------------------------------------------- Yb2O3 0.013 400 0.002 900 -------------------------------------------------------------------------- Lu2O3 0.002 100 0.002 100 -------------------------------------------------------------------------- HREO(i) 0.061 2,000 0.065 4,200 -------------------------------------------------------------------------- Y2O3 0.13 4,400 0.14 9,100 -------------------------------------------------------------------------- HREO + Y2O3 0.19 6,400 0.21 13,300 -------------------------------------------------------------------------- TREO(i) 0.58 19,400 0.60 38,900 -------------------------------------------------------------------------- Zr2O2 0.89 29,800 0.99 64,200 -------------------------------------------------------------------------- (i) LREO: Light (or Ceric) Rare Earth Oxides = La2O3 to Nd2O3 MREO : Medium Rare Earth Oxides = Sm2O3 to Gd2O3 HREO: Heavy (or Yttric) Rare Earth Oxides = Tb2O3 to Lu2O3 TREO: Total Rare Earth Oxides = LREO + MREO + HREO + Y2O3 -------------------------------------------------------------------------- N.B.: Subdivision used by Roskill Information Services Ltd. and Industrial Minerals Company of Australia Pty Ltd. -------------------------------------------------------------------------- -------------------------------------------------------------------------- Table 3: SCENARIO 2 - ZrO2ZONES Indicated and Inferred NI 43-101 Resources at a cut-off of ZrO2greater than 0.50% -------------------------------------------------------------------------- Zone TREO ENRICHED ZONE ZIRCONIUM ZONE -------------------------------------------------------------------------- Tonnage 6,560,000 10,310,000 14,460,000 7,730,000 -------------------------------------------------------------------------- Classificati on Indicated Inferred Indicated Inferred -------------------------------------------------------------- % t % t % t % t -------------------------------------------------------------------------- La2O3 0.065 4,300 0.071 7,300 0.018 2,600 0.018 1,400 -------------------------------------------------------------------------- Ce2O3 0.13 8,500 0.15 15,500 0.04 5,800 0.04 3,100 -------------------------------------------------------------------------- Pr2O3 0.017 1,100 0.018 1,900 0.004 600 0.005 400 -------------------------------------------------------------------------- Nd2O3 0.06 3,900 0.07 7,200 0.02 2,900 0.02 1,500 -------------------------------------------------------------------------- LREO 0.28 18,400 0.30 30,900 0.07 10,100 0.08 6,200 -------------------------------------------------------------------------- Sm2O3 0.014 900 0.015 1,500 0.004 600 0.004 300 -------------------------------------------------------------------------- Eu2O3 0.002 100 0.002 200 0.000 - 0.000 - -------------------------------------------------------------------------- Gd2O3 0.014 900 0.015 1,500 0.003 400 0.004 300 -------------------------------------------------------------------------- MREO(i) 0.030 2,000 0.033 3,400 0.007 1,000 0.008 600 -------------------------------------------------------------------------- Tb2O3 0.003 200 0.003 300 0.001 100 0.001 100 -------------------------------------------------------------------------- Dy2O3 0.017 1,100 0.019 2,000 0.004 600 0.004 300 -------------------------------------------------------------------------- Ho2O3 0.004 300 0.004 400 0.001 100 0.001 100 -------------------------------------------------------------------------- Er2O3 0.012 800 0.013 1,300 0.003 400 0.003 200 -------------------------------------------------------------------------- Tm2O3 0.002 100 0.002 200 0.000 - 0.001 100 -------------------------------------------------------------------------- Yb2O3 0.011 700 0.012 1,200 0.004 600 0.004 300 -------------------------------------------------------------------------- Lu2O3 0.0001 100 0.002 200 0.001 100 0.001 100 -------------------------------------------------------------------------- HREO(i) 0.049 3,200 0.055 5,700 0.013 1,900 0.013 1,000 -------------------------------------------------------------------------- Y2O3 0.10 6,600 0.12 12,400 0.02 2,900 0.03 2,300 -------------------------------------------------------------------------- HREO + Y2O3 0.149 9,800 0.175 18,100 0.033 4,800 0.043 3,300 -------------------------------------------------------------------------- TREO(i) 0.46 30,200 0.51 52,600 0.12 17,400 0.12 9,300 -------------------------------------------------------------------------- Zr2O2 0.90 59,000 0.99 102,100 1.02 147,500 1.03 79,600 -------------------------------------------------------------------------- (i) LREO: Light (or Ceric) Rare Earth Oxides = La2O3 to Nd2O3 MREO : Medium Rare Earth Oxides = Sm2O3 to Gd2O3 HREO: Heavy (or Yttric) Rare Earth Oxides = Tb2O3 to Lu2O3 TREO: Total Rare Earth Oxides = LREO + MREO + HREO + Y2O3 -------------------------------------------------------------------------- N.B.: Subdivision used by Roskill Information Services Ltd. and Industrial Minerals Company of Australia Pty Ltd. -------------------------------------------------------------------------- -------------------------------------------- Table 3: SCENARIO 2 - ZrO2ZONES Indicated and Inferred NI 43-101 Resources at a cut- off of ZrO2greater than 0.50% -------------------------------------------- Zone ALL ZONES -------------------------------------------- Tonnage 21,020,000 18,040,000 -------------------------------------------- Classificati on Indicated Inferred -------------------------------- % t % t -------------------------------------------- La2O3 0.032 6,700 0.048 8,700 -------------------------------------------- Ce2O3 0.07 14,700 0.10 18,000 -------------------------------------------- Pr2O3 0.008 1,700 0.012 2,200 -------------------------------------------- Nd2O3 0.03 6,300 0.05 9,000 -------------------------------------------- LREO 0.14 29,400 0.21 37,900 -------------------------------------------- Sm2O3 0.007 1,500 0.010 1,800 -------------------------------------------- Eu2O3 0.001 210 0.001 200 -------------------------------------------- Gd2O3 0.007 1,500 0.010 1,800 -------------------------------------------- MREO(i) 0.014 2,900 0.022 4,000 -------------------------------------------- Tb2O3 0.001 200 0.002 400 -------------------------------------------- Dy2O3 0.008 1,700 0.013 2,300 -------------------------------------------- Ho2O3 0.002 400 0.003 500 -------------------------------------------- Er2O3 0.006 1,300 0.009 1,600 -------------------------------------------- Tm2O3 0.001 200 0.001 200 -------------------------------------------- Yb2O3 0.006 1,300 0.009 1,600 -------------------------------------------- Lu2O3 0.001 200 0.001 200 -------------------------------------------- HREO(i) 0.024 5,000 0.037 6,700 -------------------------------------------- Y2O3 0.05 10,500 0.08 14,400 -------------------------------------------- HREO + Y2O3 0.074 15,500 0.117 21,100 -------------------------------------------- TREO(i) 0.23 48,300 0.34 61,300 -------------------------------------------- Zr2O2 0.99 208,100 1.01 182,200 -------------------------------------------- (i) LREO: Light (or Ceric) Rare Earth Oxides = La2O3 to Nd2O3 MREO : Medium Rare Earth Oxides = Sm2O3 to Gd2O3 HREO: Heavy (or Yttric) Rare Earth Oxides = Tb2O3 to Lu2O3 TREO: Total Rare Earth Oxides = LREO + MREO + HREO + Y2O3 -------------------------------------------- N.B.: Subdivision used by Roskill Information Services Ltd. and Industrial Minerals Company of Australia Pty Ltd. --------------------------------------------
In conjunction with the campaign of 31 assay holes completed in November-December 2009 by Matamec, SGS Geostat was commissioned to produce a NI 43-101 resource calculation report. The full report including all tables will be available on SEDAR within 45 days.
Yann Camus (Eng.) engineer for the independent firm SGS Canada Inc. - geological group Geostat ("SGS Geostat ") is the qualified person under NI 43-101 standards, which supervised the preparation of the resource estimate. Aline Leclerc (geo) and Vice-President Exploration of Matamec, qualified person under NI 43-101 standards for the project Zeus, oversaw the preparation of the scientific and technical information. Together, they have verified the information in this press release.
Andre Gauthier, President of Matamec, commented: "We are very pleased with the new resource Calculations, which has increased the size of all NI 43-101 Resource Categories by 300 percent. The deposit is presently considered open both laterally and at depth giving excellent potential for additional mineralization. We are very encouraged by our progress on the Kipawa deposit and feel that Matamec shareholders can look forward to a positive year as Matamec continues to explore and develop this exceptional mineralized system".
About Matamec
Matamec explores for significant gold deposits in the Timmins mining camp in Ontario of which the Matheson Property (with Goldcorp as partner) is the main target. In Quebec, the Company explores for precious and base metals on its Sakami, Valmont and Vulcain Properties. As well, Matamec is exploring for gold together with Northern Superior Resources Inc. on its Lesperance/Wachigabau Property.
Concurrently with the above mentioned exploration programs, Matamec's Quebec Tansim Property is also being explored for rare metals such as tantalum and lithium.
"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
Contacts:
Matamec Explorations Inc.
Andre Gauthier
President
514-844-5252
info@matamec.com
www.matamec.com
