(MENAFN- ProactiveInvestors - N.America) Matamec Explorations Inc. (CVE:MAT) and Canada Strategic Metals (CVE:CJC) jointly announced promising results from drilling at the Sakami Gold Project on Thursday. Matamec shares were up 23.08%.
Drilling into the northwest extension zone of the La Pointe sector of the Sakami site has intersected 1.62g/t Au over 64.50 meters including 2.21 g/t Au over 43.40 meters and 3.46 g/t over 11.50 meters. These results confirm an extension of a gold envelope explored earlier at the site.
"The first results from this campaign are very promising for Sakami," said Matamec CEO André Gauthier. "This good news enhances the Company's entire gold portfolio, including its interests and royalties in gold mining properties in Timmins, Ontario."
Matamec shares were trading at C$0.08. Meanwhile, Canada Strategic Metals shares were up 11.9% at C$0.24.
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