MatNic Announces the Start of its Initial Drill Program
24 September 2012 - 2:30PM
PR Newswire (Canada)
VANCOUVER, Sept. 24, 2012 /CNW/ - MatNic Resources Inc. ("MatNic"
or "the Company") is pleased to announce that it has commenced an
initial 2012 drill program on its silver property located in the
Shuswap region of southern British Columbia. Initially, the Company
plans to drill three diamond drill holes totaling 850 metres. These
are planned to follow up on MatNic's lead-zinc-silver targets. The
first hole targets a newly discovered 2.2 km long airborne
conductive zone, which has not been previously drilled. The second
hole is designed to test 40 m along strike to the west of drill
hole G78-12 which reported 9.9% combined lead plus zinc and 100.5
g/t silver. The third hole will test the newly discovered Borrow
Pit showing from which surface sampling returned assays up to
12.24% lead plus zinc and 70.6 g/t silver. The above mineralization
is contained within WNW-ESE striking, northeast dipping
quartz-muscovite schist part of the Silver Creek Assemblage.
Generally the base metal, silver mineralization is stratiform
occurring as fine-grained massive to semi-massive sulphide.
Prospecting (Rich River Exploration, 2010) in the south central
area of the property discovered a series of north trending breccia
zones consisting of multiple phases of chalcedonic-quartz flooding
and healed with cockscomb quartz. A sample collected in 2010
assayed 2.6 grams per tonne gold. This epithermal, locally bleached
looking material contains variable amounts of pods and stringers of
pyrite and locally arsenopyrite. This epithermal breccia material
represents a new gold bearing target within the Shuswap Silver
project. Core logging and processing of the core for sampling and
storage will be conducted at a secure location. Analytical
testing of the core samples will be conducted by ACME Analytical
Laboratories Ltd. MatNic Resources Inc. is a Canadian publicly
listed mineral exploration company focused on the exploration and
development of a promising silver property in the Shuswap region of
southern British Columbia, Canada. The Company is fully funded for
its 2012 exploration programs. This news release has been prepared
and approved by Craig Payne P. Geo. a geologist with more than 25
years' experience and a Qualified Person as defined under NI
#43-101. ON BEHALF OF THE BOARD OF DIRECTORS
________________________________________ Ian Klassen, President
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE
PROVIDER (AS THAT TERM IS DEFINED UNDER THE POLICIES OF THE
EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF
THIS NEWS RELEASE MatNic Resources Inc. CONTACT: Mr. Ian
KlassenPhone: (604) 899-0106Email: ian@imkmanagement.com
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