News and Announcements
Matsa Resources Limited (ASX: MAT) has acquired the Devon Gold Mine
- Published December 13, 2018 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
KEY TAKEAWAYS:
- Matsa has acquired the Devon gold mine and surrounding project area from GME Resources Ltd.
- In conjunction with the recently announced agreements with Anova Metals Ltd for an option to acquire the Anova Metals Devon tenements, Matsa now controls all the mineralised areas surrounding the Devon gold mine.
- Matsa now holds a ground position of ~620km2 at Lake Carey.
Matsa Resources Limited (ASX: MAT) is pleased to announce that it has entered into a Sale and Purchase Agreement (SPA) with GME Resources Ltd (ASX:GME) to acquire the Devon gold mine and surrounding projects, including the New Years Gift project from GME.
This new agreement with GME complements the agreement with the greater Devon project acquired from Anova Metals Ltd (“Anova”) announced recently.
This now gives Matsa control over the known gold mineralised areas surrounding the Devon mine, now on care and maintenance.
Access for drilling or potential extensions on the Devon mine of the open pits were limited by tenure.
The recent agreement with Anova Metals Limited on the surrounding ground of M39/500 removes any obstacles previously encountered with drilling permission from 3rd parties at the Devon gold mine tenements and will now allow Matsa to progress exploration to the fullest extent desired.
Less than 2km north of the Devon deposit, the New Year’s Gift prospect is hosted within the same
north-northwest trending greenstone package as Devon.
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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