VANCOUVER, Sept. 24, 2012 /CNW/ - MatNic Resources Inc. (TSXV: MIK)
("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
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
SOURCE: MatNic Resources Inc.
For further information:
Mr. Ian Klassen
Phone: (604) 899-0106