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Matsa Resources Ltd.
Summary
| Project: | Lake Carey | |
|---|---|---|
| Deposit: | Fortitude | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 9/1/2016 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 1-9-2016: Matsa Resources Ltd. announces a Resource Estimation report for its Fortitude deposit at the Lake Carey project. JORC 2012 compliant resource estimation completed for Fortitude deposit at Lake Carey. Matsa is pleased to advise that it has achiev | |
| Resources: | (Resource, I+I): 6.289Mt @ 1.9g/t Au for 385300oz Au contained at Fortitude | |
| CP/QP: | [Resources]: Aaron Green (CSA Global Pty Ltd.) | |
| ABSTRACT: | Matsa is pleased to advise that it has achieved a JORC 2012 compliant resource estimate for the Fortitude Gold Deposit which forms part of the Lake Carey Gold Project. A resource estimate for Fortitude was originally completed by Runge Limited (“RPM”) in February 2010 under instruction from the previous owners, Midas Resources Limited (“Midas”). Matsa appointed CSA Global Pty Ltd (“CSA Global”) to conduct an audit of that resource and bring the resource up to a JORC 2012 compliant level. The Mineral Resource block model and data was imported into Surpac by CSA Global. A detailed audit of the mineral resource estimate was undertaken. Gold mineralisation is associated within the Fortitude Shear Zone, a north-northwest striking D3 shear which extends the length of the Lake Carey project. Primary mineralisation is characterised by near vertical, sheeted quartz veins hosted within the Fortitude Shear (Figure 1). Vein intensity is highly indicative of mineralisation tenor, although more carbonate rich veining is much less prospective than quartz dominated veining. Veining is locally brecciated, or laminated in thicker units, but is generally massive. Sulphide minerals include pyrite +/- arsenopyrite. The occurrence of strong quartz veining with sulphide minerals, fuchsite or intense sericite alteration is indicative of better Au grades. Secondary mineralisation is characterised by flat lying supergene lodes (Figure 2). | |
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