Matamec looking south at Vulcain

A recently completed airborne electromagnetic survey at the Vulcain property, 165 km southeast of Val d’Or, Que., suggests previously mined zones of nickel-copper mineralization may extend southward beyond a historical open pit.

Operator Matamec Explorations (MAT-V) he airborne results show an electromagnetic anomaly 700 metres long by about 100 metres wide. The anomaly coincides with two known zones of nickel-copper mineralization and extends to the south.

The Renzy Lake mine, on the property, operated between 1969 and 1972, producing about 650,000 tonnes of ore from a 920,000-tonne reserve that graded 0.72% copper and 0.7% nickel. Resource estimates dating from the time of mining also included about 890,000 tonnes of “possible” reserves — equivalent to modern inferred resources — at similar grades.

A more recent resource calculation, by consulting firm Geostat Systems International, put the inferred resource much lower, at 259,000 tonnes grading 0.87% nickel and 0.94% copper. Matamec and Geostat have limited confidence in this resource, because precise information about hole locations and geology are lacking.

The mineralization at Renzy Lake was massive, semi-massive and veinlet-textured nickel and copper sulphides. The electromagnetic anomaly is believed to originate with more sulphide mineralization at less than 100 metres below surface.


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