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Matsa Resources Ltd.
Summary
| Project: | Lake Carey | |
|---|---|---|
| Deposit: | Fortitude North | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 10/22/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 22-10-2018: Matsa Resources Ltd. announces an Exploration/Drilling Update report for its Fortitude North deposit at the Lake Carey project. Drilling results incl. 5m @ 5.46g/t Au from 79m. Matsa Resources Limited (“Matsa” or “the Company” ASX: MAT) is ple | |
| 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 that results have been received from an RC drilling programme to follow up the recently discovered bedrock gold mineralisation at Fortitude North within the Company’s Lake Carey gold project in the Eastern Goldfields of Western Australia. As previously announced the new bedrock gold mineralisation at Fortitude North was discovered by aircore drilling which defined a mineralised zone in excess of 1 km in length and located just 5km north of Matsa’s Fortitude gold mine. Assay results for gold have been received for five reverse circulation (“RC”) drill holes (18FNRC01- FNRC05) carried out in September 2018 for a total of 949 metres, to test newly discovered basement mineralisation at Fortitude North (Figure 1). RC drilling was designed to test the mineralisation close to and along strike from a significant aircore discovery intercept. Matsa is very encouraged that three out of 5 drill holes of this small first pass RC programme intersected significant gold mineralisation. Matsa Executive Chairman Paul Poli had this to say: “Matsa is very pleased with what we believe to be a new discovery. We firmly believe the lake area is under-explored and that new gold mines will be discovered over time. We are hopeful that Fortitude North may be one of those new discoveries. These initial results are exciting, but what pleases me is the proximity to our Fortitude gold mine where economies of scale could prove to be very valuable.” | |
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