For thousands of other reports visit RSC's Mineral Intellingence Map
Matsa Resources Ltd.
Summary
| Project: | Lake Carey | |
|---|---|---|
| Deposit: | Fortitude North | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 12/17/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 17-12-2018: Matsa Resources Ltd. announces an Exploration/Drilling Update report for its Fortitude North deposit at the Lake Carey project. Drilling results incl. 47m @ 2.55g/t Au from 42m. Matsa Resources Limited (“Matsa” or “the Company” ASX: MAT) is pl | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Dave Fielding (Internal) | |
| ABSTRACT: | Matsa Resources Limited (“Matsa” or “the Company” ASX: MAT) is pleased to announce significant new assays from recent lake aircore drilling at Fortitude North at Lake Carey. This drilling programme was designed to follow up strongly anomalous gold results in Matsa’s most recent aircore and RC drilling programmes (MAT announcements to the ASX 11th July 2018, 20th July 2018, 22nd October 2018, 31st October 2018). Significant New Results New gold assays received from recently completed lake aircore drilling (29 drill holes completed for a total of 2,622m) at Fortitude North returned a number of significant gold values, with best intercepts as follows and shown in Figures 1 and 2 These new intercepts are in deeply weathered basement rocks (mostly metabasalt and dolerite). This programme has extended gold mineralisation by more than 1km under the lake and has now been defined for a distance of almost 2km along the Fortitude Fault. The above intercepts are located >600m south of the gold mineralised basement which was intersected in recently announced RC drilling and is interpreted to be an extension of this mineralisation (MAT announcement to ASX 22 October 2018). The selected higher grade intercepts in drill hole 18FNAC071 are all located within a broad intersection with gold values up to 84.1 g/t Au, with the average assay grade based on 1m samples. The highest grades in aircore drill hole 18FNAC71 are interpreted to reflect supergene enrichment in the weathering profile above primary gold mineralisation. Executive Chairman, Mr Paul Poli said: “These results are very pleasing, and strongly endorse my belief that Lake Carey offers significant opportunity for new discoveries. Fortitude North is shaping up to be a very interesting new discovery and we at Matsa are very hopeful that this will develop into something significant. We can’t wait to get the diamond and RC drill rigs back early in the new year to determine what we might have here. | |
Full Report
opaxe is a smart software platform that reconfigures and redistributes information and produces business insights to help mining professionals and investors make better decisions. We utilise technology and machine learning for data collection and human intelligence for the value-added services.
Full Report