http://www.minenportal.de/artikel.php?sid=31901&lang=en
January 20, 2011
Matamec Announces a 42% Increase in TREO Indicated Resources at its Zeus Property
Press Release Highlights
-- SGS Geostat considers that the deposit is located between surface and a
depth of 90m and is continuous over a distance of 1.45 kilometers, a
width of 200 metres and a thickness of 50 meters; Matamec believes that
the location of the deposit, outcropping at the top of a small hill,
will allow a reduced environmental footprint as well as lower operating
costs;
-- In this latest estimate, the resource has been considered under two
scenarios: 1) a resource with a 0.50% ZrO2 cut-off, or 2) a resource
with a 0.016% Dy2O3 cut-off. Under Scenario 1, indicated resources are
estimated at 67,200 t of TREO while inferred resources are estimated at
53,300 t TREO. This represents a 42% increase in indicated resources
compared to the May 20th 2010 estimate;
-- Still under Scenario 1, indicated resources of Dy2O3 are estimated at
2,400,000 kg, Tb2O3 resources at 400,000 kg and Y2O3 resources at
14,700,000 kg, while inferred Dy2O3 resource are estimated at 1,900,000
kg, Tb2O3 resources at 300 000 kg and Y2O3 resources at 12,100,000 kg;
-- A definition drilling campaign is presently underway. This campaign main
objective is the improvement of resource quality, converting the
majority of inferred resources into indicated (see our December 2nd 2010
press release);
-- Matamec recently announced a 89.2% recuperation of rare Earths from
whole rock from Kipawa's Eudialyte Zone (see our world premiere
announcement in the October 18th 2010 press release), and metallurgical
test are presently underway at SGS Lakefield on concentrates from the
Eudialyte zone. The physical characteristics of the Kipawa ore allow for
low-cost chemical extraction, which gives it a competitive edge against
current rare earth producers.
-- A scoping study is being prepared by the Roche engineering firm (see our
Septembre 9th press release).
-- Given the deposit's significant yttrium and heavy rare earth enrichment,
Matamec intends to target the expending permanent magnet and phosphor
world markets. Indeed, prices for 99% pure Tb2O3 have recently risen to
520$/kg, 300$/kg for Dy2O3 and 70$/kg for Y2O3 (see our June 17th press
release).
Andre Gauthier, president of the company, comments that: 'With the beginning of the 3rd drilling campaign announced on december 2nd 2010 and the 23 DDH completed to date in that campaign, we are confident that we will soon see the majority of resources announced today converted to indicated. Considering the encouraging results we've had in our metallurgical tests, we feel that our current resources, and our heavy rare earth and yttrium resources in particular, clearly show the defining importance of the Kipawa deposit in the rare-earth market.'
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