April 4th, 2016 - Toronto, Ontario - Matica Enterprises Inc. (MMJ - CSE) (39N - Frankfurt) (MQPXF - OTC) ('Matica' or the 'Company') is pleased to announce that further to our news release of March 3, 2016, Matica has completed a second round of sampling on the McGee Lithium Project which is located adjacent to Pure Energy's Clayton Valley project and south of the Silver Peak Lithium Mine, which has been in production since 1966 and is the only lithium brine production operation in North America. As news released March 18, 2016, Matica has entered into a Letter of Intent to option the McGee Lithium Project in Nevada to Cache Exploration Inc. (TSX-V: CAY).
The results shown below (see table 1) reinforce the initial results from the McGee property (see table 2) that indicate a lithium enriched evaporite rock sequence which is exposed in the central portion of the claims. The samples show an average of approximately 750 ppm lithium from all samples taken over the 1,500 metre long by 700 metre wide area with values as high as 1,420 ppm Li in the claystones. This large area of strong lithium mineralization as identified in the central McGee claims is contained within a broad low profiled valley that lies at marginally higher elevation then the immediately adjacent valley bottom of adjacent properties where lithium brine production and exploration is ongoing by other parties. The gravel covered western portion of the McGee property is adjacent to and partially contiguous with the current sub-surface exploration area being explored by Pure Energy. It is our view that both the mineralized valley bottom and the adjacent gravel covered portion of the McGee claims represent a very promising first order target for lithium brine exploration.
Table 1 - Second Round Sample Results
Table 2 - First Round Sample Results
Initial first round reconnaissance sampling and the additional second round follow-up sampling of outcrops in the central portion of the claims has been completed and assay results show that the green clay rich, salty evaporite units are mineralized with lithium, potassium, sodium and magnesium with anomalous strontium and phosphorus. The McGee claims include additional areas of similar green claystone evaporites which have yet to be sampled.
These results indicate the potential for a large mass of lithium mineralized claystones commencing at surface and extending to yet unknown depths. Sub surface exploration in the form of shallow drilling will be required to determine a preliminary resource estimate of the lithium and potassium contained within the near surface area central to the McGee claims. Additional surface sampling to expand the at-surface area of lithium mineralization is also expected in follow up exploration programs. Channel sampling is expected in follow up exploration programs to confirm the continuity of the lithium mineralization. Continuity of mineralization is suggested by the results of two sets of closely spaced sample pairs taken during the second round of sampling reported above (see sample pair 14-15 and 17-18 in table 1). This disclosure and the technical information herein have been prepared under supervision of David Bending, M.Sc., P.Geo., a Qualified Person pursuant to NI 43-101. Samples from the property where submitted to ALS Minerals in Reno, Nev., for analysis. The samples were crushed, split, a portion was pulverized and a one-gram aliquot analyzed by ALS Chemex method ME-MS61 (48 elements, including lithium, four-acid ICP-MS).
For more information on Matica Enterprises please visit the website at: www.maticaenterprises.com.
On behalf of the Board of Directors
MATICA ENTERPRISES INC.
Boris Ziger, CEO & Chairman
The Company's public filings are available for review at www.sedar.com and www.thecse.com.
For further information, please contact Boris Ziger, Chief Executive Officer, at:
Telephone: 416-304-9935
E-mail: [email protected]
Website: www.maticaenterprises.com
Disclaimer for Forward-Looking Information
Certain information in this press release may constitute forward-looking information. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Corporation assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to the Corporation. Additional information identifying risks and uncertainties is contained in the Corporation's filings with the Canadian securities regulators, which filings are available at www.sedar.com.
This news release contains statements about the Company's information that will be made available on the S&P Capital IQ Corporation Records Listing Program and the business of Matica that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them as actual results may differ materially from the forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof, and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, except as required by law.
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