Positioning of Matamec's Heavy Rare Earths Kipawa Deposit
MONTREAL, QUEBEC, Nov 18, 2010 (MARKETWIRE via COMTEX News Network) --
Matamec Explorations Inc. ("Matamec" or the "Company")(TSX VENTURE: MAT) announces that at the 6th international rare earths conference that was held between November 9th to 11th 2010, Judith Chegwidden (Roskill) and Dudley J. Kingsnorth (Industrial Minerals Corporation of Australia) have identified five deposits of heavy rare earths in their presentation entitled "Rare Earths: Facing the Uncertainties of Supply": Dubbo (Australia), Nechalacho (Canada), Strange Lake (Canada) , Bokan-Dotson Ridge (USA) and Kipawa (Canada). Furthermore, Mr. Yasushi Watanabe (National Institute of Advanced Industrial Science and Technology) highlighted, at this same conference, that the Japanese government and private sectors are looking for sources of rare earths outside of China, particularly heavy rare earths deposits. These sources must be timely, compact and inexpensive projects.
In addition, on November the 2nd and the 11th, Gareth P. Hatch (Technology Metals Research), who is independent of Matamec, ranked the Kipawa deposit third, when comparing it with 13 advanced rare earths projects out of a total of 251 projects worldwide, for its potential for exploitation on the basis of the proportion of critical REEs present.
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 with Goldcorp Canada Ltd. and Goldcorp Inc.
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.