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Matamec Completes 16,000 Metres of Definition Drilling
Oct. 11, 2012 02:57PM PST
Rare Earth InvestingMatamec Explorations Inc. (TSX VENTURE:MAT,OTCQX:MHREF) and Toyotsu Rare Earth Canada, Inc. have announce the completion of their 16,158-metre drilling campaign on the heavy rare earths-yttrium-zirconium Kipawa deposit, located on the Zeus property. 195 holes were drilled to better define resources contained within the pit design. Highlights from the press release include: The spring-summer 2012 drilling campaign aimed to: 1. […]
Matamec Explorations Inc. (TSX VENTURE:MAT,OTCQX:MHREF) and Toyotsu Rare Earth Canada, Inc. have announce the completion of their 16,158-metre drilling campaign on the heavy rare earths-yttrium-zirconium Kipawa deposit, located on the Zeus property. 195 holes were drilled to better define resources contained within the pit design.
Highlights from the press release include:
The spring-summer 2012 drilling campaign aimed to:
1. Upgrade all resources within the proposed final pit design to at least indicated status so that they can be converted into 43-101 compliant reserves;
2. Define all resources within the pit outline to the measured category, the strictest resource category under 43-101 guidelines, to insure a rock-solid foundation for the economics of the 2013 feasibility study;
3. Furnish material to be used to establish the effects of variability in grade and mineralogical content on Matamec’s simple, 2-step extraction process for rare earths. To that end, 22 of the 195 holes of the campaign were drilled in large diameter (HQ Size).
Finally, 5 geotechnical holes (not counted in the 195 definition holes) were drilled to establish the quality of the rock around the deposit for use in the design of the future open pit.