Matsa Resources Claims New Lake Carey Gold Discovery

THE DRILL SERGEANT: Matsa Resources (ASX: MAT) has claimed a new gold discovery at the company’s Lake Carey gold project in Western Australia.

Matsa Resources made the announcement on the back of results from aircore drilling on the FF1 target, which is located 2.5 kilometres north of Matsa’s recently discovered Fortitude North gold deposit.

The company achieved anomalous gold values in seven drill holes that included intercepts in basement and in the overlying transported cover.

Two drill holes located 300 metres apart, intersected anomalous gold values greater than 0.1 grams per tonne in basement rocks, with one intercept of:

3 metres at 1.49 grams per tonne gold from 108m to end of hole (EOH).

Matsa reported that highly anomalous gold values between 0.2g/t gold and 0.24g/t gold were intersected in sandy transported cover between the two basement intersections which the company deems probably represent the products of erosion of primary gold mineralisation in basement.

Two other anomalous basement gold intercepts with values over 0.1g/t gold at EOH were achieved in drill holes 20FF1AC09 and 20FF1AC12.

“Drilling was designed to test a target along the Fortitude Fault, approximately 2.5 kilometres north of Fortitude North, where drilling by previous explorers had been mostly unable to reach basement because of drilling difficulties in loose sands and gravel at the base of the transported cover sequence,” Matsa Resources said in its ASX announcement.

“The discovery of new gold mineralisation by a limited aircore drilling program at FF1, has highlighted the prospectivity of the Fortitude Fault zone which extends over the full extent of the Lake Carey gold project from north to south.

“This discovery so soon after the Fortitude North discovery, emphasises the potential for further gold mineralisation along established “gold trends”, particularly in areas where previous exploration has been hampered by transported cover.”