Matsa Resources Encounters Multiple Gold Intersections at Red October

THE DRILL SERGEANT: Matsa Resources (ASX: MAT) announced results from a recently completed grade control diamond drilling program at the company’s Red October gold mine in the Eastern Goldfields of Western Australia.

Matsa Resources achieved multiple intersections of very high-grade gold from the recently completed 38-hole grade control drilling program at the Red October gold project with gold intercepts at the for Red October Shear Zone including:

1.6 metres at 36.9 grams per tonne gold;
4.32m at 16.30g/t gold;
2.84m at 15.95g/t gold; and
6.3m at 4.54g/t gold.

Additional high-grade gold intercepts were also encountered, including:

0.81m at 181.5g/t gold;
1.33m at 40.51g/t gold; and
0.8m at 248g/t gold.

The company said the results provide a compelling platform for the current mining phase and can positively affect mining outcomes, producing new opportunities for immediate mining outside of the existing initial mining phase.

“For the first time, we can prove that substantial new mining opportunities remain at the Red October gold project,” Matsa Resources executive chairman Paul Poli said in the company’s announcement to the Australian Securities Exchange.

“The results achieved by this drilling program are extremely exciting for the company.

“Our belief continues to be, that substantial gold zones remain undiscovered and abundant opportunities exist to develop a long term, highly rewarding, underground gold mining operation at Red October.

“This belief was the core reason we acquired Red October.

“We will enthusiastically continue to grow and develop Red October and we expect many more exciting results.”