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Matsa Resources Ltd.
Summary
| Project: | Red Dog | |
|---|---|---|
| Deposit: | Red Dog | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 12/1/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 1-12-2017: Matsa Resources Ltd. announces an Exploration/Drilling Update report for its Red Dog deposit at the Red Dog project. Drilling results incl. 6m @ 155g/t Au from 6m. Matsa Resources Limited (“Matsa” or “the Company” ASX: MAT) is pleased to advise | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Mark Csar (Internal) | |
| ABSTRACT: | Matsa Resources Limited (“Matsa” or “the Company” ASX: MAT) is pleased to advise that it has completed its initial RC drilling programme at the Red Dog gold project located 25km west of the Company’s Fortitude gold project where trial mining is underway (Figure 1). The drilling programme consisted of 103 RC holes on a 20m x 20m drill program aimed at testing the historical drilling data and evaluating the economic potential of the project. The Red Dog gold project consists of three granted mining leases (ML’s): M39/38, M39/1099 and M39/1100 for a total area of 81.6 Ha that contain historical drilling results highlighting the potential for a near term, shallow mining operation that was confirmed by this drilling programme. The project is approximately 1km from the Red October haul road. The results highlight a near surface, relatively flat lying and continuous zone of mineralisation 1m to 14m thick and typically from 3m to 10m below surface. Mineralisation remains open in several directions. Gold mineralisation is hosted within an altered basalt with associated silica, hematite and pyrite alteration (Figure 2 and Figure 3). Appendix 2 lists all drill intercepts through the main zone of mineralisation. | |
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