Matamec Makes a Higher Value Rare Earths Concentrate from the Eudialyte Zone of the Kipawa Deposit
MONTREAL, QUEBEC, Jun 6, 2011 (Marketwire via COMTEX News Network) --
Matamec Explorations Inc. ("Matamec" or the "Company") (TSX VENTURE:MAT) is pleased to announce updated results from a metallurgical test program to recover rare earths values from its Kipawa deposit on the Zeus property. The Company's objective is to develop a high value, low cost RE (rare earths) deposit in North America in preparation for the anticipated shortage of heavy rare earth.
A preliminary economic assessment (PEA) study will soon commence on the Kipawa Deposit. The PEA will be based on a new mineral resource estimate to be announced in mid-June 2011, and the results from the on-going optimization phase work at SGS Minerals Services laboratory in Lakefield Ontario since December 2010. Significant progress has been made to achieve the following two main goals:
1. To apply a physical pre-concentration process to maximize recovery of
the RE into less than 35% of the original ore mass.
2. To recover over 95% of the RE from the pre-concentrate by leaching and
solid/liquid separation at a low energy and reagent cost.
The "Matamec Ore Processing Team" continues to improve the recovery by applying a dry physical separation process to produce a RE concentrate. This process can now concentrate over 90% of the yttrium values into less than 40% of the original ore mass, substantially better than the previous result of 92.8% yttrium values into 52.8% mass, as announced on March 8th, 2011. This advancement over previous results also comes with the added benefit of processing at a much coarser crush size, with an associated reduction in operating costs.
For leaching, preliminary testing has recovered 95% of the available RE from the pre-concentrate. To agree with the principles of Matamec, this test be repeated before being established as a conclusive recovery result. Nevertheless, this is potentially a significant improvement from the 89.2% RE leach recovery obtained on the Eudialyte Zone whole rock samples as previously announced on October 18th, 2010. Proprietary leach testing on this concentrate continues to simplify the current process while improving project economics.
Andre Gauthier, president of Matamec underlines that "these tests were undertaken with the supervision of our metallurgist, the late Les Heymann. The SGS Minerals Services laboratory and Eliza Ngai, our new metallurgist, will continue the numerous tests planned by Mr. Heymann to improve upon the recovery. We are very confident that these recent tests will meet our goals and place the Kipawa deposit in a fast track of development. The high value Kipawa deposit could be developed in a timely, and low cost manner."
Aline Leclerc, geologist and V-P Exploration, and Eliza Ngai (P.Eng) are Matamec's Qualified Persons for this press release.
About Matamec
Other than its focus on the development of the Kipawa deposit and exploration for other showings of rare earths-yttrium-zirconium-niobium-tantalum on its Zeus property, Matamec's exploration strategy is to discover gold deposits, base metals and platinum group, as well as rare metals.
For gold, the company explores in the prolific mining camp of Timmins, Ontario, of which the main target is the Matheson JV property.
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.
SOURCE: Matamec Explorations inc.
Andre Gauthier President (514) 844-5252 info@matamec.com www.matamec.com
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