Phoenix Matachewan Mines Inc.
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SYMBOL: V.PMM Website: www.phoenixmatachewan.com Corporate Contact Information Toll Free: (888) 834-7708 Email: gus@baystreetconnect.com |
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Overview
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People
Robin B. Dow, HBA, MBA, FCSI, (Ottawa, ON)
CEO & Director
Mr. Dow has over 25 years experience in consulting to, or in funding private and public corporations. Mr. Dow held various positions, including senior executive management, in the brokerage industry in Calgary from 1976 to 1988, when he started his first public company. He is, or has been, a director and/or officer of nine other public and two private companies since 1988. He is currently CEO of Phoenix Matachewan Mines Inc.,C.E.O. of Patrician Diamonds Inc. and Chairman of Wedge International Inc.
Paul Jones, B.Sc., P. Geo. (Ottawa, ON)
President & Director
Mr. Jones has 20 years experience as an exploration geologist for a number of Canadian based junior exploration and development companies. He has been responsible for the planning, implementation, supervision, reporting and management of numerous exploration programs throughout Canada. For the most part these programs have focused on the search for gold, nickel-platinum group elements and copper-zinc.
James M. Franklin, Ph. D, FRSC, P. Geo., (Ottawa, ON)
Chief Scientist & Director
Dr. Franklin has over 37 years experience as a geologist. He is a Fellow of the Royal Society of Canada. Since January 1998, he has been an Adjunct Professor at Queen's University and since 2001, at Laurentian University. He is a past President of the Geological Association of Canada and of the Society of Economic Geologists. He retired as Chief Geoscientist, Earth Sciences Sector, the Geological Society of Canada in 1998. He is currently a director of Phoenix Matachewan Mines Inc., Patrician Diamonds Inc., Ur-Energy Inc., Au Martinique Silver Inc. and RJK Resources Inc.
Property
Phoenix Matachewan Mines Inc (TSX-V: PMM) is a Canadian based mineral exploration company active in the search for molybdenum, gold, silver and zinc in the politically stable geopolitical environments of Ontario, Quebec and Nevada, all three of which are most favorable to mining.
The properties being explored at present are:
- Bottle Creek(moly-gold) in northwestern Nevada, USA
- Barville (zinc-silver) 45km north of Val D’Or, Quebec, Canada
- Steel River (zinc), in northwestern Ontario, Canada
- Swanson (gold) near Val D’Or in northwestern Quebec, Canada
All properties boast ease of access, allowing lower logistics costs and a greater proportion of exploration dollars to be spent on exploration.
BOTTLE CREEK
The Bottle Creek area is in the NE corner of the Jackson Mountains, 250km NE of Reno, Nevada, USA.
Total claims: 97.7km² consisting of 5 claim bocks: Bottle Creek-Main, Bottle Creek-South, Quinn, Clown-main and Clown-South.
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New molybdenum mining activity started at the Ashdown mine (30km northwest of Bottle Creek) in 2006.
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Quinn, Clown, Main and South Blocks: Epithermal type gold potential shares structural and lithological characteristics with several producing/past producing mines in Northern Nevada. (Mule Canyon, 1.43M oz gold, Sleeper Mine 1.8M oz gold, 30km SE) The area also produced 4500 flasks of mercury.
Quinn: Molybdenum potential is thought to be in a deep porphyry deposit, highlighted by recent geophysical and geochemical surveys.
Epithermal mineral occurrence in Miocene basalt and rhyolites with Triassic metamorphosed sedimentary and volcanogenic rock.
5 initial holes drilled summer 2006 intersecting anomalous gold and silver; additional drilling planned for spring 2008.
Results from soil geochemical assays (January 2008) show both strong gold and molybdenum anomalies with the gold anomalies in a north south orientation across 1.4km.
Bottle Creek is situated along a major fault system in the western segment of the northern Nevada Rift, positioned at the centre of igneous activity critical for heat to “drive” a gold producing hydrothermal system. Deposition of Au and Ag along with the following; Se, Sb, As, Hg, Tl and low Cu, Pb and Zn indicate a geothermal/hydrothermal system.
Phoenix Matachewan funded over $4 million in exploration on the property since May 2005. This work is ongoing and has included mapping, geochemical sampling, and geophysics with drilling to be continued throughout 2008.
BARVILLE Zinc-Silver
Geophysics, sampling and previous drilling indicate a strike length of 26.5 km with 17targets.
Line cutting is currently underway prior to an INFINITEM ground geophysical survey to pinpoint drill targets down to 450m. 5,000m of diamond drilling is planned for March-April of 2008.
Key Aspects of the Barville Property
Abcourt-Barvue deposit similar to Sturgeon Lake district (20mt @ 8% Zinc and 134g/t Silver) – particularly Mattabi deposit
- No geophysical signature at Lyon Lake, yet contained up to 150g/t Silver and 8.7% Zinc
- Both formed in pyroclastic dominated sequences
- Well defined Manganese (Mn) deposits, similar aluminous FW alteration
- Na depletion throughout footwall
- Sturgeon Lake has deposits that reoccur at 2 to 3km intervals. The Barville property has geochemical indicators that suggest the same deposit recurrence.
Barville property has two anomalous horizons
- Northern horizon on strike from Abcourt-Barvue mine in both directions
- Southern horizon has possible thrust fault repeated section in the same stratigraphic horizon of the Abcourt-Barvue mine
- On each horizon each VTEM anomalies spaced 2-3km apart
Excellent access to the property
What’s next for Barville
- Further interpretation of geophysical surveys:
- Interpretation of IP, EM and VTEM geophysical surveys to pinpoint axis of conductivity for drill targets.
- Rock samples
- Awaiting litho geochemical data from samples taken in Nov 2007, previous sampling indicates distinct alteration associated with VTEM anomalies
- Anomalous Zn, Na depletion
Map showing VTEM and Electromagnetic Data
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- Pink shaded areas show three well-defined, very strong anomalies. Even spacing of these anomalies is a feature typical of VMS deposits in productive districts such as Matagami Lake,PQ and Sturgeon Lake, Ontario.
- Turquoise circles identify very strong geophysical conductors, target zones are highlighted by a red outline.
- Red linear squares show EM and Deep EM conductors
The Barville property, near Val D’Or in northwestern Quebec is adjacent (~200m at east end) to the Abcourt-Barvue Zn-Ag Mine.
Phoenix now has 124 claims covering 5,078.4 ha in Barraute and Landrienne Townships.
STEEL RIVER
The Steel River Project, in northwestern Ontario midway between Marathon and Terrace Bay, has seen little historic mineral exploration despite being located just five kilometers north of the Trans-Canada Highway.
Past-producing volcanogenic massive sulphide (VMS) districts occur at Manitouwadge, (65Mt; ave. 1.2%Cu, 0.12%Pb, 3.7%Zn, 40g/t Ag), 75 km ENE and Winston Lake, (7Mt; ave. 1.0 %Cu, 16.8% Zn, 33g/t Ag), 45 km W.
Phoenix Matachewan has been active on the property since the summer of 2004. Drill results to date have not met PMM’s expectations, but due to the very rugged terrain, PMM expects to drill its best targets this spring, using a helicopter born diamond drill.
Work to date has consisted of prospecting, sampling, mapping, grid control, ground geophysics and diamond drilling. Strongly anomalous results obtained from prospecting, mapping and ground geophysics reinforce those from historic work to define highly prospective drill targets.
Anomalies occur along a cherty exhalite horizon, have zinc, copper and gold enrichment in several areas, and contain other highly anomalous geochemical indicators and coincident airborne and ground geophysical responses. Combined, these factors provide evidence of high volcanogenic massive sulphide potential at Steel River.
SWANSON
At the Swanson Property, exploration efforts include targeted mapping and sampling on parts of the property considered having high gold and base metal potential. This work was followed by a diamond drilling program consisting of seven holes designed to better characterize near surface gold mineralization at the Swanson Deposit and better define the existing in-situ Swanson resource of 814,000t grading 3.2g/t gold. All holes intersected significant gold values. Other drill holes were collared to test gold anomalies and stratigraphy elsewhere on the property. In 2005, diamond drilling was conducted along strike from the Abcourt base metal deposit (zinc-silver) on induced polarization anomalies to assess the potential of base metal mineralization on PMM ground.
As part of an ongoing practice new properties are constantly being assessed for possible acquisition. The Company welcomes submissions by prospectors and other interested parties.
Politics
With properties in Nevada, Ontario and Quebec, PMM is in the best jurisdictions for mining in the world.
Paper
- Common Shares: 83,155,592
- Compensation options: 813,833
- Warrants: 33,223,774
- Options: 7,075,520
- Fully Diluted: 125,082,952
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