Matsa Resources Encounters High-Grade Gold Intercept at Fortitude North

THE DRILL SERGEANT: Matsa Resources (ASX: MAT) rebuked a take over offer from Patronus Resources (ASX: PTN) while announcing a high-grade gold intercept at the company’s Lake Carey gold project in Western Australia.

Matsa Resources reported a gold encounter at the Fortitude North prospect at Lake Carey of:

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22.4 metres at 9.19 grams per tonne gold from 329.7m, including 9.14m at 11.93g/t gold from 329.7m and 7.2m at 12.98g/t gold from 345m.

Matsa claimed the intercept as being the highest grade result it has received to date whilst supporting the trend that grades are increasing at depth and to the north.

The company acknowledged the result had confirmed the presence of a second lode structure approximately 120m below the mineralisation it had defined via its the 2023 drilling program.

“This new intercept lends significant weight to Matsa’s exploration model that Fortitude North represents multiple stacked lode systems plunging to the north and dipping to the east,” Matsa Resources said in its ASX announcement.

“The presence of multiple stacked mineralised lode structures can be found elsewhere such as the nearby Goldfields’ Wallaby Mine and Anglogold Ashanti’s Sunrise Dam Gold Mine.

“The exploration space at Fortitude North has been significantly expanded with this drilling result.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE