Match Capital Resources Corporation (TSX VENTURE:MHC) "Match" or
"Company is pleased to announce drill results for the Indian Lake
North property located about 75 kilometers northeast of
Schefferville Quebec.
The property is located approximately 20 kilometers north of the
Blue Lake deposits owned by Lafosse Platinum. The Blue Lake
"deposits" are disseminated to massive
copper-nickel-platinum-palladium bearing sulphide lenses well
documented in various reports by government and independent
geologists.
Three holes intersected broad zones of significant
mineralization. Hole ILN-01 was continuously mineralized over 25.5
meters with a copper equivalent of 0.51%. Hole ILN-04 intersected
mineralization over 41.5 meters with an average grade of 0.33%
copper equivalent. Hole ILN-05 was continuously mineralized over
35.0 meters with a copper equivalent of 0.57% (see technical
information below).
"We are very excited about the results of the summer drill
program." said Elizabeth Kirkwood, President and CEO of Match. "We
look forward to planning and carrying out further programs on the
Property."
Future work will include geophysical surveys to outline the
mineralized zone and further drilling to expand the zone.
Technical Highlights
A total of 1,173 meters were drilled in 9 holes. The target of
the drilling was copper, nickel, cobalt, platinum group
mineralization hosted by peridotite sills that have intruded
sediments and volcanics of the Thompson Lake formation. The
property is located approximately 20 kilometers north of the Blue
Lake deposits owned by Lafosse Platinum. The Blue Lake deposits are
disseminated to massive copper-nickel-PGE bearing sulphide lenses
well documented in various reports by government and independent
geologists.
The total historical tonnage and weighted average of the four
main Blue Lake deposits, plus smaller lenses at Blue Lake is 4.03
Mt at 0.85% copper, 0.52% nickel and 0.84 g/t combined platinum and
palladium. These figures do not represent a resource as defined by
National Instrument 43-101, and should not be relied upon by
investors. A qualified person has not done sufficient work to
classify the historical estimate as current mineral resources and
Match is not treating the historical estimate as current mineral
resources and the historical estimate should not be relied
upon.
The drilling by Match Capital intersected mineralization similar
to that of the Blue Lake deposits and is listed in the following
table.
Significant Mineralized Intersections
Hole ILN-01 was continuously mineralized over 25.5 meters with a
copper equivalent of 0.51%. Hole ILN-04 intersected mineralization
over 41.5 meters with an average grade of 0.33% copper equivalent.
Hole ILN-05 was continuously mineralized over 35.0 meters with a
copper equivalent of 0.57%. These results include the mineralized
intersections in the table below.
----------------------------------------------------------------------------
Hole Interval (m) Width (m) Cu (%) Ni (%) Pd (g/t) Pt (g/t)
----------------------------------------------------------------------------
ILN-01 101.5-105 4.5 0.43 0.19 0.63 0.05
----------------------------------------------------------------------------
ILN-04 74.5-81.0 6.5 0.17 0.08 0.04 0.01
----------------------------------------------------------------------------
ILN-05 87.0-92.0 5.0 0.13 0.13 0.20 0.06
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Hole Interval (m) Width (m) Co (%) Au (g/t) Ag (g/t) Cu Equivalent
----------------------------------------------------------------------------
ILN-01 101.5-105 4.5 0.04 0.21 1.08 1.40%
----------------------------------------------------------------------------
ILN-04 74.5-81.0 6.5 0.02 0.004 1.82 0.56%
----------------------------------------------------------------------------
ILN-05 87.0-92.0 5.0 0.02 0.003 0.59 0.71%
----------------------------------------------------------------------------
True widths are not known but are not expected to vary
significantly from the reported lengths. Hole locations and
orientations are provided in the table below. Copper equivalent
calculations are based on the following metal prices: Cu $3.35/lb,
Ni $9.50/lb, Co $16/lb, Pd $615/oz, Pt $1,557/oz, Au $1,688/oz and
Ag $33/oz and assumes 100% metallurgical recovery.
Hole Information
----------------------------------------------------------------------------
Hole Easting(i) Northing(i) Azimuth Inclination
----------------------------------------------------------------------------
ILN-01 672095 6144266 220 -45
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ILN-02 672025 6144334 200 -45
----------------------------------------------------------------------------
ILN-03 672479 6144343 230 -45
----------------------------------------------------------------------------
ILN-04 672160 6144188 225 -45
----------------------------------------------------------------------------
ILN-05 672236 6144109 225 -45
----------------------------------------------------------------------------
ILN-06 669813 6146151 225 -45
----------------------------------------------------------------------------
ILN-07 672312 6144066 225 -45
----------------------------------------------------------------------------
ILN-08 671962 6144344 225 -45
----------------------------------------------------------------------------
ILN-09 671888 6144386 225 -45
----------------------------------------------------------------------------
(i)Coordinates are NAD83 Zone 19
To date the mineralized zone has been traced for a distance of
over 200 meters and is open to depth and to the southeast. Holes
ILN-02, ILN-08, ILN-09 were drilled to the northwest of the
mineralized zone and intersected anomalous mineralization in
serpentinized peridotite. Geophysical surveys and mapping will help
determine if faulting has offset the zone to the north. Holes
ILN-06 drilled 2,800 meters to the northwest and ILN-03 was drilled
400 meters to the east as broad step-out holes. Both holes
intersected peridotite and sulphide mineralization. Metal values
were anomalous but sub-economic. Hole ILN-07 was drilled southeast
of the mineralized zone. The hole was terminated due to technical
difficulties before entering the zone of mineralization.
Split drill core was submitted to AGAT Laboratories, Toronto,
Ontario which is an ISO17025-accredited facility, for preparation
and analysis. The entire core was crushed and a 300 g split was
pulverized. Gold, Platinum and Palladium were analyzed by Fire
Assay - Au, Pt, Pd Trace Levels, ICP-OES finish (202055). All other
elements were analyzed by Aqua Regia Digest - Metals Package,
ICP-OES finish (201073).
Claude Larouche, P.Eng., Quebec, is the qualified person that
has reviewed the content of this press release.
About Match Capital
Match entered into an option/joint venture agreement with
Western Troy Capital Resources (TSX VENTURE:WRY) in July, 2010
where Match had the right earn up to a 50% interest in the Indian
Lake Property by spending $250,000 over a two year period. During
the drilling program, Match earned its interest and the joint
venture has been formed. The interests of the joint venture
partners at this time are Western Troy Capital Resources - 58.85%
and Match - 43.15%. A National Instrument 43-101 report on the
Indian Lake Property was produced in November, 2010 by Stewart
Winter, P.Geo and can be viewed at www.matchcapital.ca.
Forward Looking Statements
This Company Press Release may contain certain "forward-looking"
statements and information relating to the Company that are based
on the beliefs of the Company's management as well as assumptions
made by and information currently available to the Company's
management. Such statements reflect the current risks,
uncertainties and assumptions related to certain factors including,
without limitations, competitive factors, general economic
conditions, customer relations, relationships with vendors and
strategic partners, the interest rate environment, governmental
regulation and supervision, seasonality, technological change,
changes in industry practices, and one-time events. Should any one
or more of these risks or uncertainties materialize, or should any
underlying assumptions prove incorrect, actual results may vary
materially from those described herein.
To view the map associated with this press release, please visit
the following link:
http://media3.marketwire.com/docs/MHCMAP1024.pdf
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Match Capital Resources Corporation Stanley Mourin
Chairman (416)
922-5111smourin@fundamentalcapitalcorp.comwww.matchcapital.ca
Match Capital Resources Corp (TSXV:MHC)
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