Matsa Resources Confirms Large Gold System at Fortitude North

THE DRILL SERGEANT: Matsa Resources (ASX: MAT) received results from its latest round of reverse circulation (RC) drilling at Fortitude North within the company Lake Carey project in Western Australia.

Matsa Resources reported the drilling has extended the Fortitude North discovery by 200 metres resulting in a strike extent of 1.7 kilometres that remains open in both directions along strike.

The drilling also extended mineralisation down dip to the east by 70m for a total width of some 250m across strike, which the company declared to have greatly added to the potential size and scale of Fortitude North.

Of the 20 holes drilled there were:
10 intercepts above 25 gram metres;
3 intercepts above 50 gram metres;
1 intercept above 100 gram metres, and
13 intercepts greater than 10m thick.

Matsa Resources interpreted the width and grade of these intersections to be confirmation it has discovered a major gold mineralised system that is open in all directions that with additional drilling could further add to the size of the defined mineralisation.

“These fantastic results speak for themselves and whilst further work is obviously required, we see this as a confirmed significant discovery,” Matsa Resources executive chairman Paul Poli said in the company’s ASX announcement.

“In fact, I think Fortitude North will be substantially better than our Fortitude Gold Mine, only six kilometres to the south, where we have a gold resource of 489,000 ounces.

“Matsa’s geology team tell me that they can see multiple phases and styles of mineralisation that speaks to a very long lived system, with up to four gold forming events.

“Before this drilling, we were targeting another Fortitude, but all this now points to something much more substantial and our target is now much bigger commensurate with these bigger intercepts.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE