News and Announcements
Matsa Resource Limited (ASX: MAT) discovers new gold in Lake Carey Gold Project
- Published July 11, 2018 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
KEY TAKEAWAYS:
- Matsa Resources Limited has discovered a new bedrock gold mineralised zone 5km north of Fortitude Gold Mine.
- These results confirm the potential for new gold discoveries along the prospective Fortitude Fault.
- Further Reverse Circulation (RC) at fortitude north will begin as soon as permitting is obtained along with aircore drilling on the lake ta BE 4 to better define future RC drilling locations.
Matsa Resources Limited (ASX: MAT) has announced significant new gold results from the Lake Carey Gold Project in Western Australia. The drilling at Fortitude North Prospect of the project discovered new bedrock gold mineralised zone more than 1km in length. The company completed 97 aircore drill holes for 9730 metres over Fortitude North and BE 4 sites. The results were from samples of up to 3 metres in length in drill holes about km north of the Fortitude Mine. Fortitude North is now being prioritised with follow up drills to be conducted as soon as permitting has been obtained. The results provide the potential for discoveries along the Fortitude Fault, which has previously only been subject to limited drilling.
Following the positive results, further drilling has been proposed at Fortitude North is advised, aircore drilling in the lake at fortitude North Prospect to determine the extent of the bedrock mineralisation discovered. Gold Values were also received from wide spaced drilling at the BE 4 Prospect and infill aircore drilling on the lake is proposed to determine further targets for RC drilling.
About Matsa Resources Limited (ASX: MAT)
Matsa is an ASX listed explorer/developer who has become a gold producer following the acquisition and development of the Fortitude gold mine. Fortitude forms part of the Lake Carey gold project south of Laverton. Matsa has a pipeline of quality projects within Australia and central Thailand. Matsa has recently acquired the Red October Gold mine near Lake Carey which boosts the mining potential within the area.
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