Matsa Resources Defines Gold Zone at Red Dog Project

THE DRILL SERGEANT: Matsa Resources (ASX: MAT) has completed an initial RC drilling program at the company’s Red Dog gold project in Western Australia.

The project is located 25 kilometres west of the company’s Fortitude gold project where trial mining is underway.

Matsa Resources said the drilling program, which consisted of 103 RC holes aimed at testing historical drilling data and evaluating the economic potential of the project, has confirmed shallow and consistent mineralisation with strong potential for further mineralisation.

Assay results (0.5g/t gold lower cut-off) include:

6 metres at 155 grams per tonne gold from 6m, including 1m at 921g/t gold from 7m;

11m at 2.59 g/t gold from 5m;

14m at 1.97 g/t gold from 3m;

6m at 4.57 g/t gold from 13m;

8m at 3.23 g/t gold from 22m;

8m at 3.11 g/t gold from 4m;

10m at 2.31 g/t gold from 8m; and

8m at 2.56 g/t gold from 11m.

“The results highlight a near surface, relatively flat lying and continuous zone of mineralisation one metre to 14 metres thick and typically from three metres to 10 metres below surface,” Matsa Resources said in its ASX announcement.

“Mineralisation remains open in several directions.

“Gold mineralisation is hosted within an altered basalt with associated silica, hematite and pyrite alteration.”

The Red Dog gold project consists of three granted mining leases (MLs): M39/38, M39/1099 and M39/1100 for a total area of 81.6 hectares that contain historical drilling results Matsa believes highlights potential for a near term, shallow mining operation.

Matsa is now working to determine the economic potential of the Red Dog gold project and is determining a resource estimate.

Flora, fauna and heritage surveys have already been completed.