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Matsa Resources Ltd.
Summary
| Project: | Lake Carey | |
|---|---|---|
| Deposit: | Fortitude | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 11/15/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 15-11-2016: Matsa Resources Ltd. announces an Exploration/Drilling Update report for its Fortitude deposit at the Lake Carey project. Drilling results incl. 6.7m @ 6.66g/t Au from 24m. Matsa Resources Limited (“Matsa” or “the Company” ASX: MAT) is pleased | |
| Resources: | (Resource, I+I): 6.289Mt @ 1.9g/t Au for 385300oz Au contained at Fortitude | |
| CP/QP: | [Overall Report]: Richard Breyley (Internal) | |
| ABSTRACT: | Matsa Resources Limited (“Matsa” or “the Company” ASX: MAT) is pleased to announce initial results from drilling completed at the Fortitude Gold Deposit within the Lake Carey Gold Project. Assays have been received to date from 9 diamond drill holes of a 21 drill hole program which was completed late October 2016. Assays from the remaining 12 drill holes are pending. On receipt of these early assay results, Matsa’s Chairman, Mr Poli commented, “it’s pleasing to see the high grade results coming through from this, our first round of drilling. We purchased the project because we liked the Fortitude gold deposit, the area and its promising economics and importantly our belief that the project is in a world class gold district. These results increase our confidence in the modelling work done so far and of course whets our appetite for further exploration which we are about to commence.” Mr Poli added, “we have had no negative surprises during our resource definition work and mining studies thus far, and we continue to work towards commencement of mining as soon as possible.” Significant drilling results to date have been listed in Table 1. The results support the zones of high grade mineralisation in the Fortitude Deposit as interpreted from previous drilling (Figures 1 and 2). | |
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