Matamec Explorations Inc. (MHREF: OTC Link) | Scoping Study (PEA) 80% complete on Kipawa Deposit

Scoping Study (PEA) 80% complete on Kipawa Deposit

Nov 03, 2011

OTC Disclosure News Service

Montreal, QC, Canada –

Montreal, November 3, 2011 – Matamec Explorations Inc. (“Matamec” or the “Company” – TSX-V: MAT) is pleased to announce that  the independent engineering firm Roche has completed 80% of the  scoping study (preliminary economic assessment) for the heavy rare earths Kipawa deposit.  The results are now being checked and validated and will be published in November.

 

Andre Gauthier, the President of Matamec, “is pleased with the progress and very encouraged by the preliminary results.”

 

Andre Roy (Eng.), from the engineering firm Roche and Robert Crepeau (Eng.), an independent consultant for Matamec, are the qualified persons supervising the technical results according to NI 43-101 regulation.

 

About Matamec

 

Matamec Explorations Inc is a junior mining exploration company whose main focus is in developing the heavy rare earths Kipawa deposit and 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. 

 

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 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 Sakami, Valmont and Vulcain properties. As well, it is exploring for gold together with Northern Superior Resources Inc. on the Lesperance/Wachigabau property.

 

“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.”

 

For further information please contact:

 

André Gauthier                                    Caroline Wilson (P.Geo.)

President                                             Director of Investor Relations

Tel: (514) 844-5252                           Tel: (647) 938-4080

                                  

Email: info@matamec.com                   Website: www.matamec.com

The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.

Article source: http://www.otcmarkets.com/stock/MHREF/news?id=37364

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