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Matsa Resources Ltd.

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Summary

Project:

Lake Carey

Deposit:Fortitude North, Golden Ring
Location:Australia
Commodities:Gold
Date:4/18/2019
Report Code:JORC
Report Type:Exploration/Drilling Update
Project Stage:Pursuing Resource Increase/Upgrade
Report details:18-4-2019: Matsa Resources Ltd. announces an Exploration/Drilling Update report for its Fortitude North, Golden Ring deposit at the Lake Carey project. Drilling results incl. 1m @ 0.62ppm Au from 70m. During 2018, Matsa commissioned the services of GMEX (
Resources:(not mentioned in this report)
CP/QP:[Overall Report]: Dave Fielding (Internal)
ABSTRACT:During 2018, Matsa commissioned the services of GMEX (Dr. John McLellan) to construct a geomechanical model to aid in the prediction of mineralised fluid flow within structures. The technique has been used successfully at Red October previously by Saracen Minerals Ltd, and has also been used at Sunrise Dam by AngloGold Ashanti Australia Ltd (AGAA). The geomechanical model was instrumental in the 2Moz+ Vogue deposit discovery at Sunrise Dam by AGAA. The Red October model has recently been completed, and initial results show favourable conditions along known structures for localised fluid flow and potential for mineralisation. Initial gold targets from first pass interpretation of the geomechanical model are shown in Figure 4. Further interrogation of the model in conjunction with existing structural geology, lithology, geochemistry and geophysics datasets, will be a key aspect in developing an exploration targeting pipeline.

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