Matamec Provides Update on its Timmins Gold Properties
December 09 2013 - 3:00PM
Marketwired
Matamec Provides Update on its Timmins Gold Properties
MONTREAL, QUEBEC--(Marketwired - Dec 9, 2013) - Matamec
Explorations Inc. ("Matamec" or the "Company")
(TSX-VENTURE:MAT)(OTCQX:MHREF) today announced an update regarding
its two Timmins gold properties. On November 20, 2013, China
Goldcorp Ltd. (NEX: CAU.H) announced the proposed reverse take-over
of International Explorers and Prospectors Inc. ("IEP") where it
was disclosed that IEP's material property and primary focus of the
transaction is the Montclerg Project, located approximately 48
kilometres northeast of Timmins, Ontario. Matamec is pleased to
disclose that it holds a 1% Net Smelter Royalty, of which one-half
of one percent (0.5%) may be redeemable at any time for $1,000,000,
on the Montclerg property.
In addition, Matamec is also the operator and holds a 50%
interest and IEP holds a 50% interest in the Matheson Joint Venture
property located along strike and in close proximity to the Gold
Hoyle Pond Mine in the prolific gold mining camp of Timmins,
Ontario.
All documents are available under China Goldcorp Ltd's profile
at www.sedar.com.
"Matamec is very pleased with the potential opportunity this
transaction can provide in having a significant company like China
Goldcorp backed by a leading board of directors to further develop
these two high-grade gold properties," said Andre Gauthier,
President and CEO of Matamec Explorations. "The Company is
presently working on numerous opportunities and we look forward to
keeping shareholders updated on their progress."
About Matamec
Matamec Explorations Inc. is a junior mining exploration company
whose main focus is in developing the Kipawa HREE deposit with
TRECan.
In parallel, the Company is exploring more than 35 km of strike
length in the Kipawa Alkalic Complex for rare
earths-yttrium-zirconium-niobium-tantalum mineralization on its
Zeus property. Since 2007, Matamec discovered eight (8) new rare
earth showings. Particularly, it drilled the PB-PS Zone in the fall
of 2012 and identified
Eudialyte-Mosandrite/Yttro-Titanite/Britholite mineralization
similar to those found at the HREE Kipawa Deposit. This type of
mineralization is presently known over a length of 200 metres and
is open laterally and at depth. This mineralized zone is 2.3 km SW
of the Kipawa deposit and a soil anomaly seems to connect the two.
The Company plans to drill these extensions later this year.
The Company is also exploring for gold, base metals and platinum
group metals. Its gold portfolio includes the Matheson JV property
located along strike and in close proximity to the Hoyle Pond Mine
in the prolific gold mining camp of Timmins, Ontario. In Quebec,
the Company is exploring for lithium and tantalum on its Tansim
property and for precious and base metals on its Valmont and
Vulcain properties. Matamec signed in August 2013 an option
agreement where Canada Strategic Metals can acquire an interest of
up to 50% in the Sakami gold project, located in the James Bay
region of northern Quebec by committing $2.25 million in
exploration work including $500,000 in the first year on
drilling.
Cautionary Statement Concerning Forward-Looking Statements
This news release contains "forward-looking information"
within the meaning of Canadian Securities legislation. Generally,
forward-looking statements can be identified by the use of
forward-looking terminology such as "scheduled", "anticipates",
"expects" or "does not expect", "is expected", "scheduled",
"targeted", or "believes", or variations of such words and phrases
or state that certain actions, events or results "may", "could",
"would", "might" or "will be taken", "occur" or "be achieved".
Forward-looking statements contained herein include, without
limitation, statements relating to mineral reserve estimates,
mineral resource estimates, realization of mineral reserve and
resource estimates, capital and operating costs estimates, the
timing and amount of future production, costs of production,
success of mining operations, the ranking of the project in terms
of cash cost and production, permitting, economic return estimates,
power and storage facilities, life of mine, social, community and
environmental impacts, rare metal markets and sales prices,
off-take agreements and purchasers for the Company's products,
environmental assessment and permitting, securing sufficient
financing on acceptable terms, opportunities for short and long
term optimization of the Project, and continued positive
discussions and relationships with local communities and
stakeholders. Forward-looking statements are based on assumptions
management believes to be reasonable at the time such statements
are made. There can be no assurance that such statements will prove
to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking
statements.
Although Matamec has attempted to identify important factors
that could cause actual results to differ materially from those
contained in forward-looking statements, there may be other factors
that cause results not to be as anticipated, estimated or intended.
Factors that may cause actual results to differ materially from
expected results described in forward-looking statements include,
but are not limited to: Matamec's ability to secure sufficient
financing to advance and complete the Project, uncertainties
associated with Matamec's resource and reserve estimates,
uncertainties regarding global supply and demand for rare earth
materials and market and sales prices, uncertainties associated
with securing off-take agreements and customer contracts,
uncertainties with respect to social, community and environmental
impacts, uncertainties with respect to optimization opportunities
for the Project, as well as those risk factors set out in the
Company's year-end Management Discussion and Analysis dated
December 31, 2012 and other disclosure documents available under
the Company's profile at www.sedar.com. Forward-looking statements
contained herein are made as of the date of this news release and
Matamec disclaims any obligation to update any forward-looking
statements, whether as a result of new information, future events
or results or otherwise, except as required by applicable
securities laws.
"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."
Andre Gauthier, President(514) 844-5252info@matamec.comEdward
Miller, Director IR(514) 844-5252 ext.
205edward.miller@matamec.com
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