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Matsa Resources Ltd.
Summary
| Project: | Lake Carey | |
|---|---|---|
| Deposit: | Bindah | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 3/17/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 17-3-2017: Matsa Resources Ltd. announces an Exploration/Drilling Update report for its Bindah deposit at the Lake Carey project. Drilling results incl. 4m @ 2.22g/t Au from 72m. Matsa Resources Limited (“Matsa” or “the Company” ASX: MAT) is pleased to r | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: David Fielding (Internal) | |
| ABSTRACT: | Matsa Resources Limited (“Matsa” or “the Company” ASX: MAT) is pleased to report significant progress on its aircore drilling programme at Lake Carey. The program has been focused on the Bindah Extended (BE) target area where basement rocks are concealed beneath transported lacustrine clays in Lake Carey. Matsa is targeting an 8km section along this highly prospective structural and stratigraphic corridor which was largely untested by previous drilling. (Refer MAT announcement to the ASX 22nd November 2016 and 30th January 2017) Bindah Extended is one of a number of high priority target areas in the Company’s Lake Carey Fortitude gold project, where Matsa is working towards commencement of trial mining (MAT announcement to the ASX 22nd February 2017). The target area is the extension of a gold bearing structural and stratigraphic corridor containing the Bindah, Galant and Intrepid gold deposits (Figure 1). Limited historic aircore drilling by previous explorers returned highly anomalous gold intercepts in 4 drill holes including 4m @ 0.87 g/t Au which forms part of Matsa’s BE 3 target. Executive Chairman Mr Paul Poli commented, “it’s very pleasing and not unexpected, that this programme has identified several significant new gold areas. Any success would definitely enhance our Lake Carey project. We are drilling in an area where multi-million ounce gold deposits have been discovered and what we are seeing from this shallow aircore drilling is distinctly of similar flavour to early results at those large discoveries. We are throwing a lot of effort into this area and we believe that the potential is very high. These positive exploration results complement our work to commence mining activities at Fortitude.” | |
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