Matsa Resources Kicks Off Red October Diamond Drilling

THE DRILL SERGEANT: Matsa Resources (ASX: MAT) has commenced an underground drilling program at the company’s Red October gold mine in the Eastern Goldfields of Western Australia.

Matsa Resources explained the drilling is aimed at providing grade control around the current production area and provide extensions to the existing resources through finding additional high-grade mineralised shoots to contribute to the next phase of mining.

This initial phase is expected to be part of a much larger campaign over the next six months aimed at increasing the gold resource at the Red October underground gold mine.

A recent capital raising undertaken by the company has enabled it to plan for a sizeable and comprehensive diamond drilling program at Red October.

This first program will target the Red October Shear Zone (ROSZ) North and consists of an initial 13 holes.

The focus of the first eight holes is to get a better understanding and potential for the high-grade shoots below the current workings and to test for additional high-grade shoots to the north.

A further five holes will be drilled based on the results both visually and via assay results from the first eight holes.

Four of these holes will be infill or grade control holes.

The last of these holes is a resource definition hole within the ROSZ.

Matsa expects the results of this drilling program will enable better planning for mine design and open additional areas for mining as part of its longer-term production aim.

“We are now underway in the next stage of underground exploration drilling at Red October,” Matsa Resources executive chairman Paul Poli said in the company’s announcement to the Australian Securities Exchange.

“This is the start of a much larger exploration programme aimed at delineating new future mining areas and really opening Red October up.

“We saw previous drilling result in bonanza grades and we know that previous drilling by Saracen identified many gold targets ranging between 15 grams per tonne to 30 grams per tonne.

“If we can continue identifying areas with these high grades as per our last program…it can only augur well for the next stage of production.”