Matsa Resources Releases Final Red October First Round Drill Results

THE DRILL SERGEANT: Matsa Resources (ASX: MAT) announced results from the final three holes of grade-control drilling undertaken at the company’s Red October gold mine in the Eastern Goldfields of Western Australia.

Matsa Resources completed 11 underground diamond drill holes, focussing on extensions in the main mining area (ROSZ North), from which it achieved impressive gold assays the company claims to confirm the high-grade potential of the Red October gold mine.

Gold intercepts received for new zones from the final three holes of the grade-control drilling program at the Red October gold project include:

0.6 metres at 70.6 grams per tonne gold;
0.98m at 14.88g/t gold; and
1m at 14.6g/t gold.

Further strong results were achieved from the Red October Shear Zone (ROSZ) including:

2.1m at 4.24g/t gold.

“The discovery of new high-grade lodes which are not reflected in the June 2016 Resource model is significant,” Matsa Resources said in its ASX announcement.

“The high-grade lodes indicate the strong potential for more ore-bearing structures to be discovered to the north by further drilling.

“These new lodes will be prioritised for further evaluation as new opportunities outside of the known lode system.”