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Matsa Resources Ltd.
Summary
| Project: | Lake Carey | |
|---|---|---|
| Deposit: | FF1 | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 2/27/2020 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 27-2-2020: Matsa Resources Ltd. announces an Exploration/Drilling Update report for its FF1 deposit at the Lake Carey project. Drilling results incl. 3m @ 1.49g/t Au from 108m. Matsa Resources Limited (“Matsa” or “the Company” ASX: MAT) is pleased to anno | |
| 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 announce new results which have been received from aircore drilling on the FF1 target which is located 2.5km north of Matsa’s recently discovered Fortitude North gold deposit (Figure 1). Aircore drilling formed part of the previously announced exploration programme within the Company’s Lake Carey gold project. Anomalous gold values were returned in 7 drill holes and include intercepts in basement and in the overlying transported cover (Appendix 2). Significantly, two drill holes located 300m apart, intersected anomalous gold values >0.1 g/t in basement rocks, with one intercept of 3m @ 1.49 g/t Au from 108m to end of hole (EOH) in drill hole 20FFAC04. Highly anomalous gold values between 0.2 g/t Au and 0.24 g/t Au were intersected in sandy transported cover between the two basement intersections which probably represent the products of erosion of primary gold mineralisation in basement. Two other anomalous basement gold intercepts with values >0.1g/t Au at EOH were achieved in drill holes 20FF1AC09 and 20FF1AC12 as shown in Figure 2 and Appendix 1. Drilling was designed to test a target along the Fortitude Fault, approximately 2.5km north of Fortitude North, where drilling by previous explorers had been mostly unable to reach basement because of drilling difficulties in loose sands and gravel at the base of the transported cover sequence. | |
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