Matsa Resources Aims for 1Moz ‘And Beyond’ at Lake Carey
THE CONFERENCE CALLER: Drilling results announced today give Matsa Resources (ASX: MAT) confidence its Lake Carey gold project will increase beyond 1 million ounces, executive chairman Paul Poli told the 2023 RIU Explorers Conference. By Ngaire McDiarmid
Results included 14m at 2.87 grams per tonne gold and 19m at 3.77g/t from Fortitude North, at the project in Western Australia’s Goldfields.
“We didn’t expect to find these types of grades, it’s completely opened up the ground to the north,” Poli told the conference.
The nearby permitted Fortitude deposit holds 489,000oz of the project’s current 886,000oz.
Describing Matsa as “a gold company with a twist of lithium”, Poli said whether it remained a company with two prongs was yet to be seen.
Its second focus is as a lithium “trailblazer” in Thailand.
Poli said Matsa had amassed just under 1,200 square kilometres, pointing to DSO potential at Phang Nga which was “littered with lithium occurrences throughout that pegmatite”.
He was at pains to dispel the misconception that processing lepidolite was difficult.
“I say to all the naysayers, lepidolite is valuable, the proof is here,” he said.
The company had announced a lithium testing agreement this week, for 80kg of its Thai samples, with Yongxing Special Materials Technology, one of China’s largest lepidolite miners and processors.
“We’ve had a bit of fun with our share price this week,” Poli noted.
“It’s up 50 per cent – and little bit of luck, that will continue.”