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Matsa Resources Ltd.
Summary
| Project: | Lake Carey | |
|---|---|---|
| Deposit: | Fortitude North | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 3/31/2020 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 31-3-2020: Matsa Resources Ltd. announces an Exploration/Drilling Update report for its Fortitude North deposit at the Lake Carey project. Drilling results incl. 17.2m @ 3.4g/t Au from 73m. Matsa Resources Limited (“Matsa” or “the Company” ASX: MAT) is pl | |
| 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 it has received new results from diamond drilling at Fortitude North which was completed in February 2020. Results from the first two holes of this 7 drill hole demonstrated continuity of mineralisation to the south beneath a small salt lake (MAT announcement to ASX 19th February 2020). The results from the remaining 5 holes demonstrate that Fortitude North exhibits the potential for a significant new gold discovery in the Lake Carey district. New assay results continue to confirm the presence and continuity of primary gold mineralisation over a distance of 800m within the 1,500m long basement gold anomaly, with the remainder to be tested. The basement gold anomaly also remains open to the south (Figure 1). Mineralisation occurs in a mafic sequence made up of basalts and dolerites containing thin lenses of laminated shale, located immediately east of the Fortitude Fault zone (Figure 1). The Fortitude Fault represents a major tectono-stratigraphic boundary between dominantly basaltic volcanics which host the mineralisation at Fortitude North to the east and dominantly intermediate volcanics to the west. | |
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