Matamec finds more Sakami gold (October 28, 2002)

Junior Matamec (MAT-V) has found several more gold showings at its Sakami property in the James Bay region of Quebec.

In the JR area, 25 of 126 grab samples yielded between 0.1 and 9.6 grams gold per tonne. Some of the better grades, 4.53, 6.85 and 8.6 grams, came from a band of pyrite in an outcropping of basalt.

Another sample, taken 70 metres east of the collar of hole 43, carried 1.47 grams. Hole 43, which was drilled during the summer to test a geophysical anomaly, assayed 2 grams over 6 metres of a 43-metre section of iron formation.

About 1.5 km to the west, in the Island sector, 18 samples of iron formation ran up to 5.17 grams gold. An earlier pass through the area yielded 2 grams.

In the Sipanika area, one sample of iron formation returned 0.2 gram gold. The iron formation is several metres wide and characterized by abundant pyrite. Five other samples taken in the area returned less than 0.1 gram.

Each showing sits in a structural corridor that separates the Precambrian-aged La Grande and Opinaca subprovinces.

To date, the best results have come from Zones 25 and 26, which are about 8 km south of the JR area but hosted by a separate iron formation.