Matamec pulls nickel values at Vulcain (March 29, 2005)

Drilling by Matamec Explorations (MAT-V) at the Vulcain prospect, 165 km southeast of Val d’Or, Que., has confirmed nickel mineralization in areas near the old Renzy Lake open pit mine and to the south.

Four holes drilled in the area near the pit intersected significant lengths of nickel and copper sulphide mineralization, including disseminated and veinlet sulphides and magmatic breccia with a sulphide matrix. The longest intersection was a 14.7-metre interval that graded 1.01% nickel, 1.24% copper, and 0.07% cobalt. The highest-grade intersection was 3 metres long and ran 1.93% nickel, 4.09% copper, and 0.13% cobalt.

Two other holes cut intersections of 1.3 and 10.8 metres, with nickel grades around 1% and copper grades just below 2%.

Of nine drill holes on a 700-metre-long electromagnetic anomaly south of the old pit, eight intersected nickel and copper mineralization, similar to that found near the pit. They define a mineralized zone about 275 metres long and 150 metres wide.

The mineralized intersections in the southern area were from 4.6 to 15.7 metres long. Nickel grades ranged from 0.26% to 2.09% and copper from 0.29% to 1.58%, and there were cobalt, platinum, palladium and gold credits.