Matsa Resources Drills High-Grades Under Devon Mine

THE DRILL SERGEANT: Matsa Resources (ASX: MAT) announced preliminary results from RC drilling undertaken at the Devon mine site within the company’s Lake Carey gold project in the Eastern Goldfields of Western Australia.

Matsa Resources said the five-hole RC drilling program, which was carried out in December 2019 to test continuity of gold mineralisation below historic underground and more recent open-pit mine workings, had illustrated continuation of high-grade mineralisation.

Highly encouraging gold assay results were returned in four of the five drill holes completed, including:

Main Lode

3 metres at 35.03 grams per tonne gold;

3m at 5.93g/t gold and 3m at 1.56g/t gold; and

3m at 1.38g/t gold.

Hanging Wall Lode

15m at 20.78g/t gold, including 3m at 94.1g/t gold and 3m at 5.98g/t gold.

“Three of these intercepts are interpreted to lie on a continuation of the Devon Main Lode zone which was previously mined by GME Resources Ltd,” Matsa Resources said in its ASX announcement.

“High-grade gold mineralisation was also intersected in one drill hole, in the hanging wall above the Main Lode zone.

“This mineralisation, referred to as the Hanging Wall Zone was not previously mined and appears to be poorly tested by previous drilling and hence warrants much further work.”

Matsa indicated it has further drilling planned to better define high-grade mineralisation in the Main Lode and the Hanging Wall lode.

A test IP survey is planned to confirm whether high-grade lodes can be detected by this technique.