THE DRILL SERGEANT: Matsa Resources (ASX: MAT) released a Mineral Resource Estimate for the company’s Lake Carey gold project in Western Australia.
Matsa Resources has confirmed the Initial Devon Mineral Resource Estimate of 80,000 ounces at 4.1 grams per tonne gold, comprising the Devon pit and Olympic prospects.
Although the resource includes only the Devon Pit and the Olympic prospects, the company declared potential exists for expansion as further exploration is conducted across at the Devon project area.
In addition to known structural offsets, the soil sampling conducted by Matsa over the past 6 months has highlighted a number of gold in soil anomalies that are yet to be drill tested.
“The shallow high-grade nature of mineralisation at Devon pit, in particular, lends itself to a potential cutback mining scenario with minimal pre strip requirements, early access to ore and mining studies have commenced,” Matsa Resources said in its ASX announcement.
“The grade and mineralisation are expected to be amenable to both open pit and underground mining methods and may provide a logical add-on to the established mining plan at Fortitude Stage 2.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE