News and Announcements
Matsa Resources Limited (ASX: MAT) announces commencement of drilling at Fortitude North Lake Carey gold project
- Published September 10, 2018 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
KEY TAKEAWAYS:
- Matsa (ASX: MAT) has announced the first drilling in the 5 hole drilling program in their Fortitude North Lake Carey Gold Project.
- The area holds high potential for significant mineralisation following previous successful drilling intercepts.
- Further aircore drilling will continue over the southern extent of the mineralised zone.
Matsa Resources Limited (ASX: MAT) currently holds a ground position of ~600km2 at Lake Carey, a favourable location for new gold discoveries. Matsa has announced it has commenced a drilling programme at Fortitude North in their Lake Carey Gold Project.
This programme commenced following the recent discovery of a bedrock gold mineralisation zone via aircore drilling, in excess of 1km in length in Fortitude North.
This area is just 5km north of Matsa’s Fortitude Gold Mine.
Previous drilling results included:
8m @ 5.14 g/t Au
incl. 2m @ 15.6 g/t Au
within 26m @ 1.95 g/t Au
The first Reverse Circulation “RC” Drilling commenced on 5th September, with the first drill hole in the 5 hole drilling programme underway via a truck mounted RC drilling rig.
Follow-up drilling with target mineralisation in fresh basement rocks in the area. The area is seen as high potential for significant mineralisation following recent drilling intercepts.
Further aircore drilling will commence as soon as possible in the open southern extent of the mineralised zone.
About Matsa Resources Limited
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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