Base metals found in Matagami, Que.

Two parallel, mineralized horizons have been identified on the Matagami, Que., base-metal property of Southern Africa Minerals (TSE) and BHP Minerals Canada.

Between August and October, five holes, totalling 2,861 metres, were drilled on the companies’ shared Caber property. Four of these intersected two parallel, mineralized horizons referred to as the A and B horizons.

The horizons are 2 km north of the Caber deposit, which was discovered in 1994. The Caber has an estimated resource of 1.27 tonnes grading 5.54% zinc and 1.31% copper, plus 0.26 gram per tonne gold and 10.2 grams per tonne silver.

The A horizon contains a massive, magnetite-sulphide lens, 26-40 metres thick and 350 metres below surface, with sections of up to 5% chalcopyrite and 1.69% copper over 3.2 metres. The B horizon features a 5.4-metre-thick, bedded, pyrite-sphalerite lens containing 10% zinc and 0.29% copper, 260 metres below surface. This is believed to be the upper portion of the lens intersected on the A horizon.

Results are being compiled, and more work will follow.

After spending a further $100,000, BHP will have spent the required $1.5 million on the property and earned a 50% interest. BHP can earn a further 20% by spending another $1.5 million over two years.