- Matsa Resources (MAT) confirms a large gold system at its Fortitude North prospect within its Lake Carey gold project in Western Australia
- Assays from the 20-hole reverse drill program included 25 metres at 3.3 grams per ton (g/t) gold from 147 metres and 14 metres at 3.4 g/t gold from 113 metres
- Ten of the drill holes intercepted above 25-gram metres, three intercepts above 50-gram meters, and 13 intercepts with a thickness greater than ten metres
- The drilling program aimed at establishing a maiden resource for the northern portion of the prospect, with these high-grade results supporting the extension of additional drilling.
- Matsa is up 16.7 per cent, trading at 4.2 cents at 3:20 pm AEST
Matsa Resources (MAT) has confirmed a large gold system at its Fortitude North prospect within its Lake Carey gold project in Western Australia.
Assays from the 20-hole reverse drill program included 25 metres at 3.3 grams per tonne (g/t) gold from 147 metres, and 14 metres at 3.4 g/t gold from 113 metres.
Ten of the drill holes intercepted above 25-gram metres, three intercepts above 50-gram metres, and 13 intercepts with a thickness greater than ten metres.
“These fantastic results speak for themselves and whilst further work is obviously required, we see this as a confirmed significant discovery,” Matsa Executive Chairman Paul Poli said.
“In fact, I think Fortitude North will be substantially better than our Fortitude gold mine, only six kilometres to the south, where we have a gold resource of 489,000 ounces.”
“Matsa’s geology team tells me that they can see multiple phases and styles of mineralisation that speaks to a very long-lived system, with up to four gold-forming events.”
The drilling program aimed to establish a maiden resource for the northern portion of the prospect, with these high-grade results supporting the extension of additional drilling.
The company has planned to continue research to improve drill targeting under 40 metres of cover. Once the northern area has been fully surveyed, Matsa plans to progressively work its way south under the lake where previous high-grade gold intercepts were discovered.
MAT was up 16.7 per cent, trading at 4.2 cents at 3:20 pm AEST.