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Matsa Resources Ltd.
Summary
| Project: | Lake Carey | |
|---|---|---|
| Deposit: | Bindah | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 4/5/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 5-4-2017: Matsa Resources Ltd. announces an Exploration/Drilling Update report for its Bindah deposit at the Lake Carey project. Drilling results incl. 21m @ 1.84g/t Au from 87m. 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 is largely untested by previous drilling. (Refer MAT announcement to the ASX 22nd November 2016 and 30th January 2017) First pass aircore drilling at 100m centres along EW lines spaced 400m apart, identified three high priority target gold anomalous target areas (BE 1, BE 2 and BE 3). (Refer MAT announcement to ASX 17th March 2017) Further step out and infill aircore drilling has now been completed at BE 1 and the drilling defined a NNE trending zone of in-situ gold mineralisation which is at least 600m long and is highlighted by the red line on Figure 1. There are a number of significantly gold-mineralised intercepts in and adjacent to this zone, which remains open to the north. Executive Chairman, Mr Paul Poli stated, “these results and the discovery of this new gold mineralisation is very pleasing. We see great potential for it to enhance our Lake Carey project significantly at this early stage, just as we are about to commence trial mining. What we are seeing has given us enormous encouragement and we are now very keen to commence diamond drilling ASAP and test the true potential of this discovery.” | |
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